Financial Markets Online > Weekly Analysis > Weekly Analysis 22nd July 2019

GBPUSD

  • Price fell and bounced back up again for the fourth time off the lower daily trendline.
  • Commercials increased their long positions again and Spec shorts are quite high also.
  • There is clear run now till the end of the month in terms of central bank meetings (FED and BOE) so I favour a further push up before August.
  • Price currently bouncing off the 4HR 20 EMA, look for intraday buy setup should price stay above the 1.2450 – 70 area.

 

GBPCAD

  • Price hit Monthly S2 and we might start to see a potential Weekly Phase 2.
  • Look for intraday buy setups in the blue zone.

 

EURGBP

  • We saw a false breakout last week and price fell back in the long-term channel.
  • Look for intraday sell setups all this week.

 

Watchlist

  • Buy GBPUSD & GBPCAD above the levels mentioned in the analysis.
  • Looking for selling opportunities on EURGBP.
  • Look for buying opportunities with AUDUSD and NZDUSD.
  • We are also looking for buying opportunities with AUDCAD, NZDCAD, AUDCHF and NZDCHF.

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