GBPUSD 8/01/2020

#FTSE #Nasdaq #Forex Timeframes are not our thing but still, our software is used to map important dates in the future. Thus, we know it’s 67 days ’till the next GP, the dogs are 5.9 & 12.2 years old, wifes birthday is in 152 days, that sort of thing. But knowing when #GBPUSD would precisely hit the 1.35 target given in our last report (link) is curiously absent in the status bar of our program.

This was an ambitious feature created, back in the days when it was naively thought we could get a handle on time. Alas, similar to the current Dr Who, we’re unable to do this. And why does a female Doctor need a posse of assistants spanning social demographics, when a male Doctor only ever needed a single assistant? Is the implication, a female Doctor cannot handle the same workload as her male counterpoint?

Our last diatribe relating to the Pound / Dollar pairing was given with the relationship at 1.292. If was to take just three weeks for the price achieve our 1.35 target, only to fall back to its usual holding pattern within the next few weeks. With 20:20 hindsight, the impetus for the share price jump was the Coronation of Boris but we’re increasingly concerned as to movements in the period since. Essentially, what had felt like strength is now doing a fair impersonation of a Flash in a Pan.

Hey, chart goes here

The relationship has certainly flopped around since the UK election, currently residing in a zone where weakness below 1.304 calculates with the potential of reversal to an initial 1.287. While visually, there’s a strong argument for a bounce at such a level, we’d warn if 1.287 breaks, our secondary calculation is at 1.266. Unfortunately, this shall take the pairing firmly into the grasp of a longer term “bottom” at 1.230.

However, one aspect of this period of flailing around is the potential, should the pairing firm up above 1.33 as this should trigger strength to an initial 1.361. And if exceeded, our secondary of 1.40 looks pretty logical.

Hey, chart goes here

 

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:24:17PM

BRENT

68.07

               

‘cess

10:26:07PM

GOLD

1575.08

               

‘cess

10:28:19PM

FTSE

7563.84

7542

7490.5

7428

7596

7606

7621.5

7648

7560

‘cess

10:30:16PM

FRANCE

6005

               

‘cess

10:44:31PM

GERMANY

13180.73

               

‘cess

10:46:37PM

US500

3232.67

               

Shambles

10:50:03PM

DOW

28539

               

Shambles

10:53:44PM

NASDAQ

8830

8809

8788.5

8759

8865

8877

8912.5

8981

8834

10:56:26PM

JAPAN

23339

               

‘cess

 

 

7/01/2020 FTSE Closed at 7573 points. Change of -0.03%. Total value traded through LSE was: £ 4,741,303,337 a change of 0.44%

6/01/2020 FTSE Closed at 7575 points. Change of -0.62%. Total value traded through LSE was: £ 4,720,635,792 a change of 20.67%

3/01/2020 FTSE Closed at 7622 points. Change of 0.46%. Total value traded through LSE was: £ 3,912,167,844 a change of 21.73%

30/12/2019 FTSE Closed at 7587 points. Change of -100%. Total value traded through LSE was: £ 3,213,676,764 a change of 0%

27/12/2019 FTSE Closed at 7644 points. Change of 0%. Total value traded through LSE was: £ 2,906,900,069 a change of 0%

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