My immediate bearish argument falls over when it breaks about 173.45. As per this chart:
In fact, above there it could become rather bullish
In fact, above there it could become rather bullish
GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies
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DislikedPrice looks extremely bullish. To much bullish. It suppose to retrace some or at least consolidate in this area after suppose to be Bullish Flag... Edit: actually, I forgot how to calculate 'Flag' predictions. If there is 200 pips from the bottom of the Flag to the top of the Flag, then we are still missing 50 pip move up. {image}Ignored
Disliked{quote} Yes, if it can clear the 173.9 area ... and UJ can clear 104.9 we possibly have a run back to the top. But right here is probably the final obstacle before the 174.3 and .7/ .9 areas. Re the distances stuff, if it is a correction, then often the flag part could have equal lengths above it and below. The first move was about 225 pips and since jumping from 170.7, we've travelled the exact same distance. If the multiplier is 1.618 instead, that equates to 364 pips ------------ or 175.4Ignored
Disliked{quote} Thanks for clarification. I calculated it wrongly then. 170.7 to 172.7 200 pips, then I calculated from the North brake of the flag (172.4 + 200 pips = 174.4) so actually calculation needs to be done from the bottom of the South brake of the flag (cca 171.7)Ignored
DislikedThis is what i m seeing on GJ daily chart, rectangle in chart has been good selling area(173.44 - 172. 8x) for quite a while in past several months , i will be interested to sell if the price goes below 172.7x {image}Ignored
DislikedYesterday was a Daily Bearish pin, mainly due to GBP weakness, other JPY pairs went up nicely. If those pairs will go into significant retrace then GJ will fall to at least 172. But for now 172.7 seems to be holding... If we finish W at 172.9 that would be a W Bearish pin and we'll still go down... I 'think' price will go up before NFP and NFP will decide the way for the next week.Ignored
Disliked{quote} Whatever happens, come NFP time you can bet that it will be sitting at an interesting place. I would like to see 'that place' as being 170.5. But you don't always get what you want.Ignored
Disliked{quote} Lately NFP is not such a mover as it used to be, but hey, everything is possible. Looks like GU found support, JPY pairs did some retrace, intraday momentum for GJ looking down, but support at 172.7 still holding. I would like to see it close at Daily at 173.25 area for 'possible' Bull continuation tomorrow...Ignored
Disliked{quote} Yeah, GBP/JPY seems to be hovering about a support level. It seems to be a BUY at the moment IMO.Ignored
DislikedSoon will be the time for GJ to rise and shine! I still see some downside till Sep 19th. As per my point of view, GJ has been holding back because of upcoming referendum but again it can be a risky event. I hope and wish we get a 'No' vote and then again we could see the bulls in action. Till then will be very cautious but as always I am long-term bull on GJ, would be good level to buy under 172. Opinions ?Ignored
DislikedSoon will be the time for GJ to rise and shine! I still see some downside till Sep 19th. As per my point of view, GJ has been holding back because of upcoming referendum but again it can be a risky event. I hope and wish we get a 'No' vote and then again we could see the bulls in action. Till then will be very cautious but as always I am long-term bull on GJ, would be good level to buy under 172. Opinions ?Ignored