en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
Select Page

Account Information

Dear trader,

As part of our ongoing commitments to ensure customer safety we kindly ask that you provide additional information to help us verify your profile.

Please send us an email to verifications@dt4xtrader.com with the following documents and information:

- Your full name that matches the name on your order with us.

- Your proof of identification. This can be a Drivers Licence, Passport or National ID. The identification document should not be expired.

- Your proof of address. Which can be one of the following:
- Utility bill (gas, electric, satellite television, landline phone bill) issued within the last three months (mobile phone bills are not accepted).
- Bank, Building Society or Credit Union statement or passbook dated within the last three months (credit card statements are not accepted).
- Original mortgage statement from a recognised lender issued for the last full year
- Local authority council tax bill for the current council tax year

- A selfie holding a piece of a paper with the text "DT4X Trader" written on it.

Once received our team will work to verify your account as soon as possible and you will then regain full access to your account.

Thanks for your patience,

DT4X Trader

Thursday 29/06/2017 – GBP/USD (1.29244)

by | Jun 29, 2017 | Technical and Fundamental | 0 comments

GBP/USD (Cable) – 29/06/2017

 

Short-Term Trend  –  Bullish

Intermediate-Term Trend  –  Bullish

Long-Term Trend  –  Bullish

Cyclical Trend  –  Bearish (turns bullish on a monthly close above 1.5015)

Secular Trend  –  Bearish (turns bullish on a monthly close above 1.7875)

 

SHORT-TERM VIEW

Despite the strong advance on June 28th, the short-term indicators remain neutral to slightly bearish.  The recent strength in GBP/USD appears to be a countertrend rally in a bear market.  However, this forecast will be wrong if the market generates two consecutive daily closes above 1.3047.  A push above 1.3047 will definitely shift the short-term view from bearish to bullish.

Although GBP/USD could certainly penetrate the 1.3047 level, the most likely outcome will be a gradual rollover to the downside.  The next area of support is 1.2706 (followed by 1.2635).

Going forward, all short-term rallies will probably be met with heavy resistance.  It will be rather difficult for GBP/USD to push above the May 18th high @ 1.3047.

 

LONG-TERM VIEW

Based on a long-term view of GBP/USD, it’s rather difficult to build a bullish argument in favor of the British Pound.  It appears that 2017 has marked the early stages of a new long-term currency cycle.  Generally speaking, this new currency cycle will be bearish for the US Dollar.

However, the British Pound could be one of the few major currencies that actually continues to decline against the US Dollar (despite the new currency cycle).

Brexit negotiations could easily continue well into 2019.  Consequently, there will be a cloud hanging over the head of the British Pound for the next two years.  Most likely, GBP will be unable to gather any type of sustainable momentum in favor of the bulls until there is better clarity on Brexit.

 

SHORT-TERM CHART

Please review the attached 12-month chart of GBP/USD.  As you can see from the horizontal lines, the market has been locked in a 10-cent trading range for the past eight months (between 1.20 & 1.30).  This market is simply consolidating the dramatic move it experienced immediately following the Brexit vote in June 2016.  It’s not uncommon for currencies to trade sideways for several months following a very large move.

Based on the current chart pattern, this 8-month trading range in GBP/USD will eventually be resolved to the downside.  The British Pound made several attempts to break above the 1.30 level in April & May.  However, each attempt was unsuccessful.  Therefore, the past of least resistance appears to be to the downside.

On a short-term basis, the important numbers to watch are 1.2706 & 1.3047.  A weekly close below 1.2706 could send GBP/USD tumbling to the downside rather quickly.

 

LONG-TERM CHART

Please review the attached 10-year chart of the GBP/USD.  As you can see, the market has been drifting lower for the past ten years.  Based on the current downtrend line, GBP/USD would have to generate a rally above 1.5330 in order to turn bullish on a long-term basis.  This seems highly unlikely.  Instead, the most likely scenario is a penetration below the October 2016 low @ 1.1710.

Based on the current long-term chart pattern, there’s no reason to expect the GBP/USD bear market to end any time soon.  Over the course of the next few years, the British Pound is probably on its way to parity versus the US Dollar ($1.00 per British Pound).

 

SHORT-TERM BUY/SELL LEVELS                 LONG-TERM BUY/SELL SIGNALS

Bullish breakout @ 1.3047                                Bullish breakout @ 1.5330

Bearish breakout @ 1.2706                              Bearish breakout @ 1.1710.

 

dt4xtader
All investors should take note that trading is accompanied by substantial risk, and they could potentially lose all their investment funds. Investors should only put at risk capital that would not adversely affect their financial position or life circumstances if lost. Investors should only trade with capital they can comfortably put at risk, and they should only trade if they have sufficient risk capital to fund their trading style. Investors should also note that trading with high gearing can magnify risk if not used judiciously. Any indication of past performance given by DT4X Trader is for illustration purposes only and does not in any way guarantee that investors will be able to replicate the results. The content of this website or any part of it is not intended as a solicitation by DT4X Trader to investor to buy or sell futures, options or forex.

All content published and distributed by DT4X Trader t/a GREATGADGETZ LTD and its affiliates (collectively, the “Company”) is to be treated as general information only. None of the information provided by the Company or contained here is intended (a) as investment advice, (b) as an offer or solicitation of an offer to buy or sell or (c) as a recommendation, endorsement or sponsorship of any security, company or fund. Testimonials appearing may not be representative of other clients or customers and is not a guarantee of future performance or success. DT4X Trader is not a broker, we do not accept client deposits. DT4X  Trader itself does not carry out any regulated activities, the only exclusive activities we carry out is Prop Trading and Trading Education and consequently is not required to be authorised by the regulatory authority.

DT4X Trader t/a GreatGadgetz LTD | Company No: SC597488 | 272 Bath Street, Glasgow, Scotland, G2 4JR

COPYRIGHTS PROTECTED 2022 DT4X 

PARTNERS

PRIVACY POLICY

TERMS & CONDITIONS