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  • GBPUSD: You Can Do It!

    From forex.com

    The start of 2015 looks very familiar to the end of 2014 for many markets around the world as the USD continues to dominate the spectrum and commodity prices fall even further. Or as my colleague Matt Weller so poetically stated already this morning, “New Year, Same Result.” While the EUR/USD is grabbing a lot of the headlines this morning for reaching a 4.5 year low on the back of comments from European Central Bank President Mario Draghi, the GBP/USD is suffering even more greatly, falling over 200 pips since the high set on the last day of 2014. While I mentioned earlier this week that the 1.56 level might be ... (full story)

  •  Guest
  • | IP XXX.XX.158.219
It doesn't make any sense that euro hadn't dropped with the bad euro news but pound is???
More countries getting ready to join euro zone. means they will have to buy euro so it will go back to at-least 1.2500.
Quoting iwishtowin
More countries getting ready to join euro zone. means they will have to buy euro so it will go back to at-least 1.2500.
This explanation just made my day. Thank you!
Quoting iwishtowin
More countries getting ready to join euro zone. means they will have to buy euro so it will go back to at-least 1.2500.
idiotic..
joining euro means euro needs to print more. thus lowering euro.
Quoting sylvin
idiotic..
joining euro means euro needs to print more. thus lowering euro.
time will tell
oh well !
new year, new games.
Quoting Guest
It doesn't make any sense that euro hadn't dropped with the bad euro news but pound is???
The News can be as bad as you can imagine, but if the people are reacting accordingly. This is exactly what you will get mate....As much as I appreciate correlation between pairs, I tend to treat them separately according to their behaviors.

If you look at the monthly chart on both pairs, you will see something amazing... EUR/USD is on a DOWNTREND Channel, and GBP/USD is on an UPTREND Channel...It just happens that the waves within them channels are DOWN...

Not to mention, EUR/USD is at a major Support/Resistance Area right now.... Lots of touches since 1994.
Quoting Guest
It doesn't make any sense that euro hadn't dropped with the bad euro news but pound is???
Pound has bad datas . and euro is in 500 pips streak without bigger retrace ...
I think longer term support at 1.53 area is more prudent
Quoting Ill-b-back
I think longer term support at 1.53 area is more prudent
Agree, 1.53 was support from 2009 till 2012, then false break in 2013 and now back should give a decent bounce.
  •  Guest
  • | IP XXX.XX.113.59
Data shows a lot of countries are dumping Euros in their foreign exchange reserves and replacing them with Dollars.Who wants to get stuck collecting a currency that's falling like a sharp knife?The Dollars are coming home.
Quoting Malchi
Pound has bad datas . and euro is in 500 pips streak without bigger retrace ...
Above 50 is Positive and today's M PMI is only 0.8 less than previous Data, Pound overreacting to the data
  • Post #13
  • Quote
  • Edited at 4:21pm Jan 2, 2015 4:19pm | Edited at 4:21pm
Dr. Zain
Joined Sep 2008 | Status: Member | 1,329 Posts | Online Now

Quoting YardiFX
It's not over yet folks... Looking to hit at least 5584...

Might be lower than that, if Cable hits 5589 and drops from there it could visit
52,53 imho
Quoting Dr.Zain
Dr. Zain
Joined Sep 2008 | Status: Member | 1,329 Posts | Online Now

Quoting YardiFX
It's not over yet folks... Looking to hit at least 5584...

Might be lower than that, if Cable hits 5589 and drops from there it could visit
52,53 imho
This post was on 29 November 2014
Pound is killing me...I was short from 5565 with target 5470, few hours later I changed the target to 5370. I added pending shorts at 5549, 5528, 5513, 5500 and 5485. But pound didn't want to drop, it was just bouncing around...so I closed the trades on thursday. If I didn't...I would cash in 900-1000 pips in one day. Crazy!

Next time when I have a target in mind, I set it all up and leave the computer.
Quoting OnlineAddict
Pound is killing me...I was short from 5565 with target 5470, few hours later I changed the target to 5370. I added pending shorts at 5549, 5528, 5513, 5500 and 5485. But pound didn't want to drop, it was just bouncing around...so I closed the trades on thursday. If I didn't...I would cash in 900-1000 pips in one day. Crazy!

Next time when I have a target in mind, I set it all up and leave the computer.
Not a bad idea, avoids second guesses.
I started more or less doing this for month of December and worked like a treat
  • Post #17
  • Quote
  • Edited at 9:31pm Jan 3, 2015 4:22am | Edited at 9:31pm
bad broker bad ideas no matter what you guys say
Dear All,

I don't think that the GBP is over-reacting, with the GeoPolitical situation in Ukraine, Russia is dumping it's reserves (mostly Euro and some USD) to support its Ruble, the US is picking up while the UK's PMI results were not as bad, the market is waiting for any slightly negative news from the EURO Zone and the UK versus the US which posted an awesome GDP growth figure. That being said, focus on the Macro not the Micro, also the GeoPolitical situation in EZone is not that great, Ukraine, Greece, Spain etc. So, IMHO, 1.53 or slightly lower is expected. I could always be wrong, I am only human
  •  Guest
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  • Story Stats
  • Posted: Jan 2, 2015 11:20am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 18  /  Views: 5,340