We were probably not alone last year, suspecting Sterling intended parity with the US Dollar and the Euro. But despite the best efforts of several UK Prime Ministers during 2022, the Pound resolutely refused to collapse. Perhaps the current incumbent of Downing St shall make a “third time lucky” effort in an effort to make a personal success…
In fairness, Sterling has been recovering slowly from last October’s lows, maybe a reflection of the level of trust in UK politicians, following PM Truss’s efforts to destroy the economy. However, this Forex pairing is now getting very close to a “no brainer” trading opportunity as recovery will be difficult to avoid, should the relationship strengthen above 1.2450.
Above such a visual trigger should now make recovery to an initial 1.2858 a fairly confident proposition. Our secondary, should such a level be exceeded, works out at 1.3338, challenging the Blue downtrend which dates back to 2007. Unfortunately, the only sane stop loss level looks like matching the low of 2023 at 1.1840, doubtless wider than most folk would prefer.
If things intend go horribly wrong for GBPUSD, visually below 1.1500 should give early warning for real trouble. Such a drop risks triggering reversal to 1.007 initially with secondary, if broken, at 0.8736.
For now, we are inclined to believe the visuals on the chart, most of which indicate this pairing is due some serious gains.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
25/01/2023 FTSE Closed at 7744 points. Change of -0.17%. Total value traded through LSE was: £ 4,923,070,732 a change of -10.83%
24/01/2023 FTSE Closed at 7757 points. Change of -0.09%. Total value traded through LSE was: £ 5,520,852,512 a change of 27.06%
23/01/2023 FTSE Closed at 7764 points. Change of -0.08%. Total value traded through LSE was: £ 4,345,074,257 a change of -16.34%
20/01/2023 FTSE Closed at 7770 points. Change of 0.3%. Total value traded through LSE was: £ 5,193,532,558 a change of -8.71%
19/01/2023 FTSE Closed at 7747 points. Change of -1.06%. Total value traded through LSE was: £ 5,688,982,543 a change of 12.09%
18/01/2023 FTSE Closed at 7830 points. Change of -0.27%. Total value traded through LSE was: £ 5,075,315,047 a change of -21.93%
17/01/2023 FTSE Closed at 7851 points. Change of -0.11%. Total value traded through LSE was: £ 6,501,128,630 a change of 48.1%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at email@example.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:EZJ EasyJet** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:IHG Intercontinental Hotels Group** **LSE:ITV ITV** **LSE:LLOY Lloyds Grp.** **LSE:NWG Natwest** **LSE:POLY Polymetal** **LSE:RKH Rockhopper** **
Updated charts published on : EasyJet, HSBC, British Airways, Intercontinental Hotels Group, ITV, Lloyds Grp., Natwest, Polymetal, Rockhopper,
LSE:EZJ EasyJet. Close Mid-Price: 513.4 Percentage Change: + 9.70% Day High: 522.2 Day Low: 479.6
Target met. In the event of EasyJet enjoying further trades beyond 522.2, ……..
View Previous EasyJet & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 598.5 Percentage Change: + 0.62% Day High: 599.4 Day Low: 594.2
In the event of HSBC enjoying further trades beyond 599.4, the share shou ……..
View Previous HSBC & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 169.72 Percentage Change: + 2.04% Day High: 172.38 Day Low: 166.06
All British Airways needs are mid-price trades ABOVE 172.38 to improve a ……..
View Previous British Airways & Big Picture ***
LSE:IHG Intercontinental Hotels Group Close Mid-Price: 5630 Percentage Change: -1.23% Day High: 5728 Day Low: 5614
Further movement against Intercontinental Hotels Group ABOVE 5728 should ……..
View Previous Intercontinental Hotels Group & Big Picture ***
LSE:ITV ITV. Close Mid-Price: 81.2 Percentage Change: + 0.45% Day High: 82.18 Day Low: 80.3
In the event of ITV enjoying further trades beyond 82.18, the share shoul ……..
View Previous ITV & Big Picture ***
LSE:LLOY Lloyds Grp.. Close Mid-Price: 50.95 Percentage Change: + 1.64% Day High: 51.5 Day Low: 49.98
Target Met. Finally, this is now supposed to be interesting. Above 51.5p c ……..
View Previous Lloyds Grp. & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 302 Percentage Change: + 1.10% Day High: 302 Day Low: 298
Further movement against Natwest ABOVE 302 should improve acceleration to ……..
View Previous Natwest & Big Picture ***
LSE:POLY Polymetal Close Mid-Price: 276.4 Percentage Change: -20.12% Day High: 340 Day Low: 204
Target Met. Whatever this did to insult the market produced some extremely ……..
View Previous Polymetal & Big Picture ***
LSE:RKH Rockhopper Close Mid-Price: 8.89 Percentage Change: -1.22% Day High: 9.2 Day Low: 8.5
Weakness on Rockhopper below 8.5 will invariably lead to 8p next with sec ……..
View Previous Rockhopper & Big Picture ***
*** End of “Updated Today” comments on shares.
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