|Day's Range||140.138 - 140.607|
|52 Week Range||140.1380 - 156.0870|
The British pound continues to grind back and forth against the Japanese yen, and after the House of Commons voted against the Brexit plan that Teresa May had come up with. People are starting to suggest that perhaps it will be a softer Brexit than originally thought, but quite frankly I think this pair is still vulnerable.
The U.K. Parliament voted against Prime Minister Theresa May's Brexit deal on Tuesday, leaving Britain with further uncertainty. 432 members of Parliament voted against it, while 202 voted in favor. May's government now has three days to present an alternative plan in Parliament. That said, the opposition Labor Party leader Jeremy Corbyn will bring a vote of no-confidence in the government, which will be debated in Parliament on Wednesday. If May's government loses the vote, fresh elections would be triggered. The option of a so-called hard Brexit, where the U.K. crashes out of the European Union without a result, is also still on the table now. The British pound , which was sharply lower versus the U.S. dollar ahead of the vote, retraced some of its losses but remained solidly in the red in response to the vote. Sterling last bought $1.2760, down 0.8%, according to FactSet. The euro-sterling pair was meanwhile slightly lower, with one euro buying £0.8909, down 0.1%.
The British pound pulled back a bit during the day on Monday but is starting to see a little bit of support. The most important thing to pay attention to those the fact that the ¥140 level above is of course offering significant psychological and structural resistance.
British pound traders are gearing up for a potentially volatile week as U.K. Prime Minister Theresa May is finally bringing her Brexit deal to a vote in Parliament on Tuesday, Jan. 15.
The British pound did very little during the week, as we continue to hang below the ¥140 level which has been an area of interest more than once. The fact that we are still below there tells me that there is still a lot of negativity, and of course a bit of fear when it comes to the Brexit.
The British pound rallied a bit during the trading session on Friday, as we continue to see a lot of volatility in this market. It makes sense that this pair will continue to be very noisy with everything that’s going on.
The British pound continues to drift lower against the Japanese yen during trading on Thursday, as we clearly have a massive barrier ahead of us at the ¥140 level. However, it’s likely that the British pound will be a bit quiet in the interim, as we are still trying to sort our way through the Brexit process.
The British pound initially tried to rally against the Japanese yen on Wednesday but continues to find resistance above. This makes quite a bit of sense due to the government in the United Kingdom struggling to come together on the Brexit deal.
The British pound rallied a bit during the trading session on Tuesday but seems to be skittish about taking on the ¥140 level. With that being the case, I think it makes sense that we could roll over a bit but I’m not looking for a meltdown, simply a continuation.
The British pound initially pulled back to kick off the week on Monday but turned around to show signs of life. By forming the hammer midday, it shows just how resilient that the British pound is trying to be. However, I think there is serious trouble just above.
The British pound broke down rather significantly during the week, and the “flash crash” during the week of course was a major contributor to this. That being said, there’s been a lot of technical damage so I would pay attention.
The British pound rallied a bit during the trading session on Friday, reaching towards the bottom of the descending channel that we had been in for some time. Beyond that, we have recently broken below the ¥140 level, so that of course is a very negative sign, so I think at this point we are looking for selling opportunities.
The British pound broke down rather significantly against the Japanese yen as there was a bit of a flash crash during Asian trading. Since then, we have seen a bit of a rally as well, and I think at this point what we have seen more than anything else is a massive stop run.
The British pound fell rather hard against the Japanese yen to kick off the new year, as the “risk off” attitude has come back into the marketplace. Beyond that, the Japanese yen had strengthen against other currencies, showing that the Japanese yen very well may be the currency to own going into the first quarter.
The British pound bounced a bit during the trading session on Monday, using the ¥140 level as support. That’s an area that of course is a large come around, psychologically significant figure, and an area that has caused support previously. Beyond that, you should keep an eye on the fact that liquidity was probably an issue being New Year’s Eve.
The British pound is testing major support against the Japanese yen, in the form of the ¥140 level. This is a market that reacts to the global markets overall, and of course the general feeling of risk appetite.
The British pound has sliced through the ¥140 level again on Thursday, an area that of course is going to be psychologically and structurally important. However, I do think that eventually we go below there.
The British pound fell again during the trading session after initially trying to rally on Wednesday as traders came back from holiday. Ultimately, this is a market that is highly sensitive to risk appetite, so pay attention to that.
2018 is coming to an end and the year has brought about major changes in the foreign exchange market. Great events shaped the market and influenced the major currencies.
The British pound has struggled quite a bit over the last several weeks, as we approached the ¥140 level. At this point, I think that rallies are to be faded, but I could see a scenario where ¥140 holds up in the short term.
The British pound continues to fall against the Japanese yen and other currencies as the Brexit weighs upon Sterling. Overall though, I think that we are starting to get a little bit extended, and we are most certainly getting close to major support. Because of this, being patient is the best thing you can do in this market.
The British pound fell against the Japanese yen during the trading session on Thursday again, reaching towards the ¥141 level. The British pound continues to get hammered a bit against most currencies, as we worry about the Brexit.
The British pound fell again during the trading session on Wednesday against the Japanese yen, as we continue to see a lot of a fear of a global recession, not to mention the fact that the US/China trade relations continue to struggle.
The British pound went back and forth during the day on Tuesday, as we continue to have a severe lack of understanding as to where to go next. Quite frankly, rally should be looked at as an opportunity.