Reversal Patterns in GBP Pairs, Inside Bars in Gold and Silver

In today’s daily chart watch we are looking at a potential reversal in the British Pound. We’ve also got interesting inside bar patterns to look at in gold and silver and some well formed chart patterns in EUR/USD and GBP/JPY. Let’s jump into it. In both gold and silver, price has been consolidating at the … Read more

GBP/USD Hovers at 11 Month Lows Amid Hard Brexit Fears

Cable slumped to its lowest levels since September of 2017 on Monday, as fears over the possibility of a hard Brexit took hold. In an interview with the Sunday Times published on August 5th, Trade minister Liam Fox estimated a 60% chance of a no-deal Brexit taking place. This ‘hard Brexit’ would leave the EU and the U.K. … Read more

Gold Falls to 7 Month Low As Dollar Firms on Rate Outlook

Gold sank to its lowest levels since December 11th of 2017 in early trading on Thursday. The yellow metal has been pressured by the hawkish stance of the Federal Reserve, a strong US dollar and a robust U.S. economy. On Tuesday the Trump administration announced a list of tariffs of 10 percent on $200 billion … Read more

Pennant Pattern in GBP/NZD

GBP/NZD Daily Chart Pressure is building up in the pennant pattern on the GBP/NZD daily chart. Price is hovering around the support of the upward sloping trendline and beneath that major support lies at the 200 period simple moving average (in yellow). It is a bullish pennant pattern and from a technical perspective breakouts to … Read more