TriumphFX – Forex Analysis – GBP Pairs – October, November & December 2021
Previous analysis… https://analysis.tfxi.sc/2021/08/05/triumphfx-forex-analysis-gbp-pairs-july-august-september-2021/
EURGBP – Daily Chart
Price has been moving sideways, as suggested in our last chart analysis.
EURGBP is indecisive and is lacking trend momentum. Price is moving sideways and is ranging between 0.8465-0.8660 and 0.8465-0.8720. The moving averages confirm the market indecision – they are tight and moving sideways. EURGBP is also indecisive on higher time-frames.
Trading opportunities could exist around the support and resistance areas of the ranges and if price moves out of the ranges (break-out trade). A break to the upside may find resistance around 0.8870 and 0.9140.
The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected, although inflation fears have been mentioned by many.
The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. They have said that no rate change is expected in the near or distant future. Inflation targets and economic growth forecasts have been lifted for this year.
GBPCHF – Daily Chart
As suggested in our last GBP chart analysis, price has been moving sideways.
GBPCHF continues to be indecisive and lack trend momentum, despite a break of a range support area. Price has formed a new range and horizontal channel at 1.2470-1.2820. GBPCHF is clearly moving within the range. The moving averages are tight and moving sideways – confirming the market indecision.
Trading opportunities could exist around the support and resistance areas of the horizontal channel and if price moves out of the channel (break-out trade). A break to the upside may find resistance around 1.3030. A break to the downside may find support around 1.2185 and 1.1745.
The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The Swiss economy is recovering from COVID and seems stable.
The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected, although inflation fears have been mentioned by many.
GBPJPY – Daily Chart
The GBPJPY reversed around 148.80 and has since been bullish, as suggested in our last GBP analysis.
Price is potentially up-trending but is also looking indecisive. The moving averages confirm the market indecision – they are tight and moving sideways. The GBPJPY is ranging between 149.00 and 156.00.
Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). Trading opportunities may also exist around the horizontal levels at 142.00, 152.00 and 153.00.
The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected, although inflation fears have been mentioned by many.
The Bank of Japan (BOJ) continues to keep interest rates at the record low of -0.10%. The Japanese economy is expected to make a moderate recovery from the COVID crisis but some analysts are stating that the Japanese economy is stagnant and may experience economic challenges in the coming months.
GBPUSD – Daily Chart
As suggested in our last analysis, the GBPUSD reversed around 1.3400.
Price has been bearish and has formed a series of lower swing highs and lower swing lows, signalling a potential downtrend. Price action has formed a bearish channel and the moving averages are bearish and widening – confirming the potential downside. GBPUSD is up-trending on higher time-frames though, suggesting a potential bullish move higher.
Opportunities to go short could exist around the bearish channel resistance area, around the dynamic resistance of the moving averages and around the horizontal levels at 1.3860, 1.3990 and 1.4225. A bearish move may find support around 1.3610, 1.3425 and 1.3130.
The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than originally expected and is making a strong economic recovery post-COVID. Inflation has elevated and may continue to do so in the coming months.
The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected, although inflation fears have been mentioned by many.
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