GBPUSD is taking another leg higher
It’s still one way traffic for the pound as GBPUSD rises to 1.3531 after busting the barrier at 1.3500. It’s very likely that we’re on for a test of the Sep highs around 1.3600.
Aside from what develops on this move up, the next resistance doesn’t come in until 1.3570. With the Dec 4th May/Juncker meet upcoming, and the strong possibility of the UK nailing down all three issues to move on to the next round of Brexit talks, we could remain well bid into next week, or until we get some bad news. Aboce the Sep 1.3656 highs we have some clear sky to 1.3800.
This has been yet another strong move but it needs to be built on a strong foundation so look at 1.3500 to become support. 1.3480 is the safety net under that.
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GBP is attempting some big levels against JPY, EUR and CHF. GBPNZD on its way to test 2.
Could go to 1.40 if USD starts to suffer again vs JPY. I think GBPJPY flows played a big role in the rise of USDJPY of these two days.
I went long GBPUSD at 1.322 but closed at 1.34 the other day. Well, not the best thing to do. I’m not touching GBP at the moment.
Eyes on the OPEC circus for me plus long AUDUSD at 0.756 and bought yesterday the FANG led dip on the NASDAQ100
Plus shorting EURUSD into day end if 1.192/3 resists, supertight stop
Good to see a familiar face on here 5magics. Welcome and stay with us
Thanks Si. Yes, count me in as a regular reader. I write some of my comments/drivel here and there too
I got lucky with a long at 1.3223 off of that support. I took a quarter off in the first pop into 1.33 but I’m running the rest as this is exactly what I’ve been looking for in the run up to the Brexit May/Juncker meeting Dec 4th, and the summit after.
There could be a very good dip trade if Brexit news is still positive into the Fed and we get a knee jerk lower in GBPUSD on the hike. That’s will be one to fade with a long.
Yes, the ForexFlow team took the 28th November low in Cable after waiting for the failed retest, culminating in a classic switch today from Short EURGBP to long the EURUSD complimenting the Cable longs amidst the US PCE flat to print disappointment that set EURUSD off North from being on its kness1.18100. We took the 1.1910 as easy meat and hanging with Cable