|Day's Range||142.98 - 143.169|
|52 Week Range||140.3640 - 156.0870|
The British pound recovered a bit ahead of the confidence vote on Teresa May during the day on Wednesday, slamming into which should be resistance at the ¥143 level. Ultimately, this is a market that is in a downtrend, and I think at this point we are simply trying to cover shorts ahead of the vote.
The British pound tried to turn around and rally during the trading session after a horrible session the previous day on Tuesday. The market has formed a very ugly looking candle stick, and it looks like we are going to continue to see major issues.
The British pound initially tried to rally during the day on Monday, but then rolled over to show signs of exhaustion. As it breaks through the ¥142.50 level, it looks like we are ready to go much lower. Beyond that, there is also concern that the Brexit vote being pushed back in Parliament is a sign of the unlikelihood of a deal.
The pair is range bound ahead of tomorrow’s brexit vote as tension remains high amid broad based USD weakness.
The British pound continues to struggle against the Japanese yen, as a bit of a “risk off” move. There are tensions between the United States and China involving trade, and it’s likely that the market will continue to be very difficult to handle.
The British pound fell slightly against the Japanese yen during trading on Friday, as traders probably are covering risk going into the weekend. Keep in mind that this pair is highly sensitive to the trade relations between the United States and China, which currently look rocky at best.
The British pound was volatile against the Japanese yen during the trading session on Thursday, as we continue to see a lot of noise around the world.
The British pound bounced a bit against the Japanese yen during the trading session on Wednesday, reaching towards the ¥145 level. This market is of course been very volatile as of late, and I think that will continue to be the case.
The US equity market was indicated to open with a small loss in early Monday. EU indices were flat to up at midday as Brexit hopes to provide support. Asian market was mostly higher despite a bombshell allegation against Nissan Chairperson Carlos Ghosn.
The British pound initially tried to rally during the week but found enough resistance at the previous downtrend line to roll over again. It looks as if we are starting to trace out a descending channel, which of course is negative.
The British pound bounced a bit from the ¥145 level during the trading session on Friday as perhaps a bit of short covering was going on. Quite frankly, this is a small reprieve and what has been extraordinarily volatile market.
Continue to see a lot of resignations in the cabinet of Teresa May due to the Brexit deal, so it looks as if the British pound will continue to deal with a lot of political negativity. At this point, it’s just more of the same.
Amid a new flurry of resignations on Thursday, Prime Minister Theresa May and her Brexit plans are vulnerable, throwing the British pound into a spiral lower as uncertainty looms.
The Brexit news had a negative impact on the pound, the US futures market was indicating a positive open for equity indices in the early hours of the morning.
The British pound pulled back against the Japanese yen initially during the trading session on Friday but found enough support near the ¥147 level to turn around and form a hammer. This hammer suggests that we are trying to break towards the upside but there is so much in the way of noise between here and the ¥150 level that I think we will find sellers.
The British pound rallied significantly during the trading session on Tuesday, filling the gap from the open of the weekend looks likely to continue to try to go higher. At this point though, I think we are setting up for a selling opportunity closer to the ¥149 level.
The British pound gapped lower against the Japanese yen during the Monday session to kick off the week, breaking down towards the ¥146 level. Looking at this chart, it certainly seems as if the British pound has more pain ahead.
The British pound rallied during most of the week, reaching towards the ¥150 level. However, we have pulled back significantly from there which of course makes sense considering that the ¥150 level is a major psychological barrier and of course this pair is somewhat risk sensitive.
The British pound has fallen during most of the trading session on Friday as a bit of a “risk off” move has happened in equities around the world. Beyond that, we had found the ¥150 level to be a bit expensive, and it should offer a reasonable barrier.
The British pound try to rally during the trading session on Thursday but has run into a buzz saw of resistance near the ¥149.50 level. This is an area that has sent the market lower a couple of times now, and I think it extends to the ¥150 level.
Five months to the deadline, Britain is yet to reach a deal with the European Union on how to go about Brexit. Steve Eisman believes that now is the right time to short two U.K banks as expectations of the U.K leaving Europe without a deal soars.
The British pound rallied significantly during the trading week, bouncing from the 61.8% Fibonacci retracement level, and rocketing above the ¥145 level. Because of this, one could look at this is a bullish turn of events but I think what this shows is a lot of uncertainty.
The British pound has been quite noisy during the trading session on Friday, as one would expect. The British pound has been very difficult to trade as of late, because seems like every time we get our footing in one direction or the other, it will suddenly turn around.