A1 Trading

GBP- Hottest Market Moves

June 1, 2021
Frank Cabibi

The pound wins for hottest moves in the market today, and it is because of mass selling of the GBP pairs compared to other currencies. NZD is the second most volatile at the time of writing this, but one GBP pair leads as the biggest mover at a 0.7% drop for the day. Short sentiment comes back to haunt the USD again, and the pound is the biggest beneficiary for the day.

GBP/CHF

GBPCHF 4H


GBPCHF on the 4H timeframe collapses 0.7% after a strong day of gains last Friday. This pair is the hardest mover as of today with price swiftly moving to hit a rising trend line on this chart. This sharp correction could just be short term bearish sentiment on the pound from most investors taking profits after a long day of gains. Heavy resistance sits around 1.27971 if trend continues to the upside.

GBP/CAD

GBPCAD 4H

GCAD down over 0.6% this morning as price hits support in the 1.70290s. The pair keeps making higher highs on this timeframe, but is now having to face the 200 SMA serving as resistance in the 1.71500s. if price doesn't sustain this level of support, it might not see a bottom until the high 1.68600s.

GBP/AUD

GBPAUD 4H

This pair is down -0.68% on the day and tells a similar story to the others analyzed in this article. The pair hit mild support on this timeframe, but price action still looks like a falling knife. Additional support lies on the rising trend line, and it looks like we will likely see the candles reach there.

The EdgeFinder

All-in-one Fundamental Dashboard

30 Days Access

Free Telegram

Join for daily analysis and trade setups!

Join Telegram

DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals

A1 Trading Company

A1 Trading is a leading financial analysis and trading education company dedicated to empowering traders of all levels. Our team combines extensive market knowledge with cutting-edge technology to provide valuable insights and tools for traders worldwide.
2024 All Rights Reserved | A1 Trading Company
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonecross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram