”SUPER THURSDAY”, WAS NOT SO SUPER FOR THE UK IT WAS RATHER DISAPPOINTING. MOST OF THE ECONOMIC DATA RELEASED ON THURSDAY FELL SHORT OF EXPECTATIONS. BOE RATES WERE KEPT ON HOLD AS EXPECTED, AND AS FOR A RATE HIKE UNFORTUNATELY ONLY ONE MEMBER REMAINS IN FAVOUR OF THAT. ON THE OTHER SIDE OF THE COIN THE GREENBACK WAS BOOSTED BY GOOD ECONOMIC DATA AND THE FACT THAT THE JUNE INTEREST RATE HIKE PROBABILITY IS UP BY 83.1%. WITH THAT BEING SAID AS A DOLLAR BULL I AM LOOKING FOR SHORT OPPORTUNITIES ON THIS PAIR.

GBPUSD DAILY

MARKET CURRENTLY BULLISH, 21 ABOVE THE 55. PRICE IS CURRENTLY TURNING BEARISH AS THE 5 & 8 EMA ARE CONVERGING. RESISTANCE IDENTIFIED @ MM3, MR1, & MM4. IMMEDIATE SUPPORT IS @ MPP.

GBPUSD H4

MARKET IS SIDEWAYS. PRICE IS RANGING. RESISTANCE IDENTIFIED @ WPP & WM3 WHICH COINCIDES WITH MM3. SUPPORT IDENTIFIED BY THE GREEN BARS. NOTE THE DOUBLE TOP SO I AM WAITING FOR A LOWER HIGH. STOCHASTICS IS HEADING NORTH.

GBPUSD H1

MARKET IS BEARISH. PRICE IS BEARISH. RESISTANCE AT DPP. MY PLAN IS TO SHORT THIS PAIR @ DPP RESISTANCE AND IF WE BREAK TO THE UPSIDE THAN DM3 IS THE NEXT RESISTANCE LEVEL. I WILL OBSERVE LOWER TIME FRAME CHARTS TO CONFIRM MY ENTRY.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.