GBP/USD CAD/JPY The trades cannot be ignored!

[PirateRadio]

Perhaps, once in a while opportunity! Some of the best patterns to trade!

[MongiIG]

19 minutes ago, RomPathsSwap said:

Perhaps, once in a while opportunity! Some of the best patterns to trade!

Thanks for sharing @RomPathsSwap

Buying or selling GBP/USD and CAD/JPY what are you predicting for both these trades?

 

All the best - MongiIG

[PirateRadio]

7 minutes ago, MongiIG said:

Thanks for sharing @RomPathsSwap

Buying or selling GBP/USD and CAD/JPY what are you predicting for both these trades?

 

All the best - MongiIG

Both pairs presenting a Head and Shoulder and an inverted Head and Shoulder pattern are likely to have a small correction during the next 24 hours, however on the long haul the uptrend remains unchanged. Not a financial advice, just a trading idea share, feel free to correct or adjust! 

[MongiIG]

36 minutes ago, RomPathsSwap said:

Both pairs presenting a Head and Shoulder and an inverted Head and Shoulder pattern are likely to have a small correction during the next 24 hours, however on the long haul the uptrend remains unchanged. Not a financial advice, just a trading idea share, feel free to correct or adjust! 

Thanks for sharing the technical analysis @RomPathsSwap

British Pound Latest: Inflation, Recession Fears and Strikes Cap

Jun 21, 2022 | DailyFX
Nick Cawley, Strategist

GBP/USD - PRICES, CHARTS, AND ANALYSIS

• BoE’s Mann warns on imported inflation.
• UK headline inflation is expected to rise further.

All eyes on Wednesday’s UK inflation reading and any subsequent BoE commentary.

All the best - MongiIG

[MongiIG]

18 hours ago, RomPathsSwap said:

Perhaps, once in a while opportunity! Some of the best patterns to trade!

Thanks for sharing @RomPathsSwap

 

All the best - MongiIG

[MongiIG]

On 21/06/2022 at 16:21, RomPathsSwap said:

GBP/USD Technical Analysis: Reversal Week Holding is Bullish

Jun 24, 2022 | DailyFX
Paul Robinson, Strategist

GBP/USD TECHNICAL OUTLOOK

• Cable posted a big reversal candle on the weekly last week
• Price action since suggests that reversal will lead to higher prices
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• GBP/USD TECHNICAL ANALYSIS: REVERSAL WEEK HOLDING IS BULLISH
• Last week cable posted a monster reversal candle on the weekly after taking out this year’s low and hitting the worst levels since March 2020. GBP/USD also briefly fell through the 1.2000 level, a big psychological level.

With the market having looked like it capitulated, along with other assets, risk trends look to have stabilized for now and are seen as being supportive of higher levels for GBP. It may not turn out to be a rip-roaring rally, but we could see price trade a few big figures higher relatively soon.

This past week the range has been quite narrow, so we should see a move develop next week. We have seen a couple of small intra-day reversals this week to the upside which is helping put in a floor. Ideally, cable stays above the weekly low at 1.1261.

A breakdown below won’t be a deal breaker, but will require than any weakness below support be short-lived for the current set-up to stay intact. To fully knock the luster off cable we would need to see a weekly close below last week’s low at 1.1933.

Looking higher, there is a fair amount of resistance ahead to climb through. The trend-line from earlier in the year coupled with last week’s high at 1.2406 could be problematic in the short-run, but if the weekly reversal is to hold true then we should see a breakout above. This could lead to a run to the May high at 1.2667.

GBP/USD DAILY CHART

GBPUSD Chart by TradingView

[PirateRadio]

On 21/06/2022 at 15:56, RomPathsSwap said:

Both pairs presenting a Head and Shoulder and an inverted Head and Shoulder pattern are likely to have a small correction during the next 24 hours, however on the long haul the uptrend remains unchanged. Not a financial advice, just a trading idea share, feel free to correct or adjust! 

One good shot! Just one more to go...