A1 Trading Company

Ticker tape by TradingView

March 2, 2022

GBP Pairs To Trade In This Turbulent Time

Frank Cabibi

The pound is broadly mixed when crossed with certain pairs, but for right now, GBP can be very lucrative right now if you play it the right way. Here are some GBP pairs to trade that could help your portfolio in this time of crisis.

What To Note

GBP usually acts as one of the risk-on currencies regardless of the 50bp interest. So, in the short term, any kind of movement to the upside is reflecting the increase in risk appetite by investors. The pound also somewhat mirrors the performance of US equities, or at least the direction because they both behave similarly on sentiment.

GBP Pairs To Trade

GBP/CAD (Short Bias)

gbp pairs to trade

GBP/CAD breaks under support to a lower low on the 1D. Canada's loonie is probably going to vastly outperform others in the short term because of the lower oil supply around the world and skyrocketing oil prices. Price could come down to 1.68400s before seeing any kind of support on this timeframe. That recent death cross is another indication that the trend is now bearish.

GBP/JPY (Long Bias)

gbp pairs to trade

GBP/JPY sank to the 200 DMA before turning back to the upside on the day. The pound was likely suffering due to the trade sanctions placed on Russia, but overall there is still a long trade in the making as support in the 152.600s looks promising. GBP seems like a good long play against the yen because of the monetary measures (higher interest) the government is already taking.

GBP/AUD (Mixed)

gbp pairs to trade

GBP/AUD has fallen nearly 4.8% from the highs in January and over 3% since the conflicts in Russia-Ukraine borders. Gold has been outperforming because of this which is what is helping AUD gain demand. A close below support suggests more downside, and the pair is likely up because equities are as well.

GBP/USD (Short Bias)

gbp pairs to trade

GBP/USD is likely going lower should the fighting continue in Ukraine. Despite the more hawkish policy on the pound, this probably won't matter in the short term. The recent lower low makes the pair look bearish in the short term while investors would flock to the USD if concerns persist.

A1 Edgefinder

Smart Money Tracker
See where big money is flowing with the A1 Edgefinder's smart money tracker! With one click, see where the biggest money flows are entering and exiting through COT data.

10% off code: 'READER'

GET ACCESS NOW

VIP discord

Trade Alerts, Strategies, Chatrooms & more!

10% off code: 'READER'

LEARN MORE
What To Expect From Today's FOMC

Today at 2:00 pm EST, the Fed will announce their latest interest rate decision. Estimates suggest a smaller hike of 25 basis points this time around. Here are some things to consider before the FOMC decision later today: The Fed has struggled to tighten their grip on inflation without causing too much disturbance in the […]

Read More
The Art of Not Trading

With the holiday season lingering on and a new year on the cusp of arrival, traders may glance at the calendar and notice there is not much economic news to anticipate on Friday to cap off a light week. In situations like these where there can be lulls in bullish and bearish momentum due to […]

Read More
Best Currency to Buy?

As the fiscal year comes to a close, consumers will likely finish shopping for the holidays, and traders and investors will get some respite thanks to a long weekend due to bank holidays around the world. While concerns about further stock market selloffs may be lingering in the minds of some, a promising set of […]

Read More
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
VIP
Menu
homesmartphonelaptopmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram