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Strong GBP coming to the markets

Numerous articles released over the last few trading weeks in our traders blog have stated that the GBP would rise and the FTSE will fall and here we are again... coming closer and closer to the BIG and STRONG GBP and FTSE move!

Based on all of our analysis we are expecting GBPUSD to go up, EURGBP to go down and the FTSE to tumble too.

In this short post I will only indicate our trades. They are GBPUSD buy and FTSE100 sell. We did scalp EURGBP a little today and it ended well, we will release a trade recap video once all of our GBP and FTSE trades are closed.

The first chart I will go over is the 4-hour GBPUSD chart, and it looks like a perfect setup for buying..

(click on the image to enlarge)

As you can see GBPUSD is at the bottom of this rather large channel, the width of the channel is roughly 115 pips.

Price action did break the 30 EMA and the DC which could indicate some bearishness but it does seem like the USDX did find resistance so I don't expect the USD bulls to charge much more but I do see the GBP being strong, perhaps something to do with Brexit will give the GBP power this week.

Something must be coming since the only expected events that could give a boost to the GBP are Mark Carney's speech on Thursday and Fridays current account report.

There is a lot of US data coming out but I don't believe they will make the GBP strong across the board as that is not logical, I am waiting on something from the UK, something BIG that will move the GBP and the FTSE, fast!

Take a look at EURGBP's 4-hour chart

(click on the image to enlarge)

As you can see, EURGBP is creating a possible bearish triangle right at the key support level of 0.87750. Price action is also finding resistance at the 30 EMA & DC.

SInce I won't explain the big picture in this post I want you to take a look at the other posts I released on the GBP and FTSE, where you see what is happening with the daily and weekly charts. Just head back to the blog and scroll down, the GBP post will stand out like a bull! or just click here to access it faster.

In regards to the FTSE, here's what I believe will happen and what I am trading.

(click on the image to enlarge)

See that yellow box? Yeah, that's the gap the FTSE made on the UK snap elections weekend. The reason the FTSE went up is because the pound dropped. Cause and effect at it's best!

Every gap is always filled, some take minutes or hours others can take months, years and even decades... but this one will be filled soon. Why am I so confidant? Well because the FTSE has a head and shoulders pattern on the daily and weekly while the GBPUSD has a reversed head and shoulders on the weekly. Big moves coming.

It's late in Cyprus already and I have spoken about the GBP and FTSE recently many times so I don't want to bore you with more details. All I want to share in this post is that I am shorting the FTSE and I am buying GBPUSD and will sell EURGBP after it breaks the key support level noted above.

Good night from me! :)

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