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16 Sep 2022

GBP/USD Price Analysis: Bears could be about to pounce for a deeper run into the lower 1.1400s

  • The bulls have stepped in at a critical daily demand area.
  • GBP/USD bears are lurking at ket 4-hour resistance.

GBP/USD bulls are stepping in from 1.1450 and the following illustrates the potential for a correction followed by a deeper move into the demand structure on the longer time frames.

GBP/USD daily chart

The daily chart shows that the price is at a critical demand area.

 

Zooming in, however, there is the potential of a move lower into the demand area.

GBP/USD H4 chart

Meanwhile, the price is starting to correct into a 38.2% Fibonacci retracement area:

As shown, there is a confluence of the prior lows and the 38.2% and 50% ratios that could act as resistance and result in the next bearish leg.

Sep 16, 2022

AUD/NZD remains sideways around 1.1230 despite RBA Lowe’s testimony

The AUD/NZD pair is displaying a lackluster performance in the Tokyo session despite the testimony of Reserve Bank of Australia (RBA) Governor Philip
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Sep 16, 2022

We see two conditions necessary for a sustainable reversal in the JPY – Societe Generale

Economics at Societe Generale raised doubts on the ability of the Bank of Japan’s (BOJ) intervention to reverse the USD/JPY bull run while citing two
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