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Sterling

GBP/AUD 4H Chart: Large Triangle - Small MovesRecently the Pound reversed its direction against the Australian Dollar and formed a medium term channel patter, which just recently did something that was largely unexpected. The pair has revealed a large scale triangle pattern by breaking a medium term ascending channel pattern, which was expected to represent one of the many rates rather long term ascends. If one zooms out the pair’s chart, the situation is more easy to understand. In regards to the short term, the pair is likely going to decline down to a strong support cluster near the 1.67 mark.
by UnknownUnicorn890690
Gbp/JpyHello traders Gbp/Jpy has formed bullish falling wedge and nice opportunity will come in close proximity of support and resistance line line of the wedge, where price will either rebound or break Currently on 4H scale, we have shooting star on last candle indicating bearish momentum - it will require careful monitoring near support line We might be retesting broken support line within the wedge that now acts as resistance As of this moment, I am in this trade Take care
Short
by Chuck-Norris
GBP/JPY confirms speculated pattern.The recent fundamental surge of the British Pound can be most noticeably seen on the GBP/JPY currency exchange rate charts. The reason for that is the fact that, while the Pound was surging due to monetary policy clues, the Japanese Yen was losing its safe haven status due to turmoil in the Korean peninsula. However, the surge might be over, as the pair has reached the upper trend line of a speculated medium term ascending channel pattern, which recently broke through the upper trend line of a dominant, previously active pattern. The speculated ascending pattern was drawn in one of the updates of the previously published active trading idea. It is still to be seen whether the pair passes the resistance of the medium pattern and surges above the 153.50 mark or declines back down to the 150.30 level.
by UnknownUnicorn890690
GBP/JPY Reviewed after CPI releaseThe situation on the GBP/JPY currency pair has been massively affected by the various fundamental events on both sides of the rate. First of all the British macroeconomic data releases have forced the pound higher. Secondly, the Japanese Yen has fallen due to the recent turmoil on the Korean peninsula. However, the surge can be mapped by a short term channel up pattern. Although, the channel has already reached the upper boundary of a recently spotted dominant ascending channel pattern. Due to that reason it can be expected that the junior pattern will be broken and the pair will decline down to meet with the 55-hour SMA.
Short
by UnknownUnicorn890690
EUR/GBP marks a medium term declineRecent developments on the EUR/GBP currency exchange rate have pressed for a review of the pair. The review is being done, to map the larger scale situation, which previously was not fully accounted for. It can be noticed that the recent decline of the Euro is a part of a speculated channel down pattern. The reason for it still being theoretical is the fact that the upper trend line has not been confirmed. The pattern is the next one in line to guide the pair’s movements in the medium term. It is most likely going to retreat down to the weekly S1 at 0.91 mark and await there until it meets the support of the dominant ascending pattern.
Short
by UnknownUnicorn890690
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