GBP/USD, Pound strongly down on CPI!

mario urlic forex gbp-usd 22.03.

I wrote in my previous analysis from March 18. that, the Pound is on a big test at the resistance level 1.4500 and that the buyers will have a problem to break true. Well, that level reject the pair again exactly at my pointed trend line, in wich I have focused for a long time here. After the Pound slided back from that level, 1.4400 stop the fall for one day, but it was broken on the other one, after wich has become resistance today. The CPI data worst then expectation just give an additional bearish momentum for the Pound and the fall continued strongly. Here is a minnor support at 1.4200/20 now, but the sellers are aiming lower support at 1.4000 again for sure. This is already a huge fall and the consolidation is possible now here at aprox 1.4200!? Brexit referendum fear and terrorism attack in Brussel are enough resons for investors to turn back in to the US dollar these days. It’s very interesting to follow the moves with GBP/USD for me, how about you?

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3 comments

  • Ecimovic Bojan

    Pozdrav Mario

    uzivancija je citati tvoj blog kao i uvek. I ja pratim g/u gledajuci prakticno chart sa otporima koje sam iscartao isto kao i ti, sa razlikom sto sam pretpostavio da cemo imati odbijanje u long vec na 1.4070 gde sam i planirao buy. Vidim da su tvoja predvidjanja otpora tek na 1.4000 sto takodje ima rezona. Sta mislis o mom eventualnom ulazu i dali je uopste treba razmisljati o kupovini ili cekati da ove fundamentalne volacije malo splasnu.

    Liked by 1 person

    • Hvala Bojane. Teško je reći da li ući u buy na ovako jakom bearish trendu, iako ta zona od 1.40 ili 1.41 izgleda primamljivo. Inače, GBP/USD zna raditi jake preokrete, no, ipak je situacija specifična sada zbog ‘Brexit’ referenduma i to je uteg koji može ići i protiv tehničke analize. Zato je USD trenutno moj favorit do daljnjega. Btw. Ne trejdam ovaj par uopće, ali mi ga je jako interesantno pratiti, tehnički je savršen još uvijek.

      Liked by 1 person

      • Ecimovic Bojan

        G/U zatvoreno 🙂 posmatrao sam neki mali h1 kanal i cena je dosla na gornju ivicu, mozda sam trebao jos da drzim poziciju, ali opet sam zadovoljan sa 310 pipsa ili nesto vise od 10%. Ulaz je bio na 4070 taman bio da je sl od 30 pipsa izdrzao.
        Pozdrav

        Liked by 1 person

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