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GBPUSD September 1-10 2017

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Daily chart shows a positive buying momentum started last July. I believe the corrections will be temporary and may trigger as a buying opportunity for the bulls. On Intraday, The 1 hour chart already started to see a buying momentum. What are we looking for technicals? 1. 4 hour chart: We want to see the 4 hour chart to improve its momentum. BREXIT, BREXIT , BREXIT: Pros's: People started to realize that the pound would not go away as they resume the brexit talks. PM May started talking to Japanese PM as part of her agenda in building relationships and trade deals after UK getting out of EU. Clear path: On the technical side, the buying opportunity just started as institutions and big players on the currency pair starting to bulk up on their position with GBP as we see on the daily chart. Related post: USDJPYSep1-10
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USDJPY for Sept 1-10 2017

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In the daily chart, we see a cross of 2 major moving average while we check the RSI momentum continues to go to the bullish area. The Bears's: The banks and institutions may pick this one up as they have the bigger positions in the market which may take days for them to sell. They may use the rallies to sell their position which anytime this week as a selling pressure increases. - Media helping the hype: As they create the market in buying, they may start unloading their position to minimize the risk in the market. - Issues we are still following:  1. North Korea threat is still there: Very Unstable  2. Trump is unstable I believe these factors maybe the key reason why the institutions may cut their risk by selling which we may see on the following days ahead. The Bull's:  They may throw all issues and return to the market as we see in the RSI going above the 50 level triggering a positive rally. In general: My bet will be on the bears. The issues are sti...
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