{"id":17626,"date":"2021-03-25T07:34:30","date_gmt":"2021-03-25T06:34:30","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17626\/"},"modified":"2021-03-25T07:34:30","modified_gmt":"2021-03-25T06:34:30","slug":"its-finally-happening","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/its-finally-happening\/","title":{"rendered":"It’s finally happening!"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1735,43
\n(+0,09%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1821
\n(+0,08%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 32405,50
\n(+0,17%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 59,87
\n(-1,35%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a014565,50
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

Of course we are talking about the GBP\/USD. It is out of the corridor it has been in for the last few months. Which we have written about several times before. Below is a chart which you have already seen several times in its unchanged form.<\/p>\n


\nGBP\/USD<\/strong><\/p>\n

\"GBPUSD\"<\/p>\n

In a newsletter to our clients a week ago we wrote the following:
\n“What is the main risk of this scenario (continued upside in the channel)? It is that the upward movement within this channel on the daily chart has been going on for about 5 months. This is a very strong trend that only extremely lazy traders have not identified.
\nFrom an “evil market” point of view, of course, one wants to break the channel with a sharp move down and take off a large number of stops.”
\nWhich is exactly what happened on Tuesday and Wednesday. The attentive reader will ask the question. Why are we talking about Tuesday and Wednesday if the breakout occurred on Tuesday? On the chart we are using a daily timeframe. From the point of view of classical technical analysis, it is not enough for the price to simply break through the channel. It has to close below it (which happened on Tuesday) and better yet, we should get a confirmation the next day (we got it on Wednesday) that the price did not immediately reverse and break back into the channel.
\nNow we look at the chart. There are two possible developments:<\/p>\n

1. If the breakdown is not false, then from the TA point of view, the Pound\/Dollar pair is in for a real disaster. The daily chart does not show a support level. Perhaps the nearest one is the horizontal line at 1.285. From this level the price has pushed back several times before. And this is the potential for a 9 figure drop<\/p>\n

2. From a long-term trend and “evil market” perspective, the price should return back to the rising channel after some time. Fundamentally, we maintain our forecast for the Pound\/Dollar pair at 1.50 for the end of the year. And the ‘angry market’ is very keen to retake the stops. This time, those traders who went short on the breakdown of the channel<\/p>\n

09.30 Swiss National Bank interest rate decision
\n13.30 Annual US GDP data for Q4<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold\u00a0 1735,43 (+0,09%) EURUSD\u00a0 \u00a01,1821 (+0,08%) DJIA\u00a0 32405,50 (+0,17%) OIL.WTI\u00a0 59,87 (-1,35%) DAX\u00a0 \u00a014565,50 (+0,01%) Of course we are talking about the GBP\/USD. It is out of the corridor it…<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-17626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nIt's finally happening! | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Of course we are talking about the GBP\/USD. 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