GBP/USD for 18/06/2019

#Gold #SP500 At time of writing, 1.2540. It has been a few months since we reviewed this. The pairing attempted to strengthen and then failed. Now, it’s hovering with some intent toward weakness. We’re amazed to report, despite Brexit nonsense, Tory Leadership nonsense, or a US President visiting, nothing important has actually happened so far but… there are risks.

The big problem immediately is at 1.2525.   Travel below such a level now calculates with the potential of a visit to 1.240 next. Secondary, if broken, comes in at 1.2222 along with a fairly confident looking rebound potential. However, the big picture takes issues, should 1.222 break for any reason as the uptrend in RED since 1984 risks being ignored in favour of continual reversal down to 1.1677.

To be blunt, if it were a share, we’d already assume the intention will be 1.1677 as some sort of “bottom”, due to three quite distinct scenario pointing at this potential target. Thankfully, the pairing does not require a great deal of work to rubbish such a prospect, needing only better 1.310 (BLUE) to spoil all three trading calculations. In plain English, for those with horribly deep pockets, 1.310 is your stop loss level.

Surprisingly, there’s a tighter indicator which will suggest some relativistic strength is present. The pair need recover above 1.280 where we calculate movement toward 1.30 is possible. This creates the situation where even above 1.30 should give early warning it is “probably” not about to drop off a cliff.

For now, we suspect it’s heading to 1.1677, hopefully as bottom. Unfortunately, we do have numbers further down the line.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:50:35PM

BRENT

60.42

               

9:52:24PM

GOLD

1339.84

1332

1327

1316

1344

1344

1347

1352

1336

‘cess

9:54:09PM

FTSE

7374

             

7332

9:55:38PM

FRANCE

5393.7

             

5367

Success

9:58:01PM

GERMANY

12094.66

             

12072

9:59:55PM

US500

2892.42

2882

2879

2872

2897

2900

2911.5

2927

2886

10:11:09PM

DOW

26142

               

10:12:37PM

NASDAQ

7538

               

10:14:53PM

JAPAN

21139

               

 

17/06/2019 FTSE Closed at 7357 points. Change of 0.16%. Total value traded through LSE was: £ 5,096,653,983 a change of -8.18%

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