70-100 pips correction is likely at 1.3820 area. Although since Monday I have gone long on GU at 1.3680 with Tp at 1.3900 which will remain unchanged based on the weekly chart, I suspect a minor correction based on the daily chart and the fact that ...

70-100 pips correction will like occur around 1.3820 area.

I doubt it will happen this week.

GU is still trending high on the weekly chart. It should go higher from now but I will wait until Monday. However, if price drops to 1.3660 area, I will definitely buy for 240 pips gain over next week. Take profit is 1.3900. Trade safe.

I thought as much. Bank holidays here and there

[quote=Benton;13465111] Exactly, market reacted accordingly especially AUD and NZD. Like you said, the surprise is over, dxy should fall now.

I am suspecting Powel won't shake the market today. What would he say that he hasn't said before?

@Moty my friend, did you survive the drop without margin call?

[quote=Benton;13464876]Yields has dropped a lot. So I don't believe that DXY would rise a lot! So GU dropping from here should be limited! I bought at 1.3762,[/quoIn my opinion, I think the reason for the drop across all currencies but yen and ...

Buy limit at 1.3750 Tp at 1.3810. SL ar 1.3833. Watch out

I hope it doesn't go beyond 92.12

Don't overtrade buddy. After hitting one's target I believe it is better to stay on the sideline until a very perfect opportunity arises.

Exactly! Price will drop like a stone when it breaks. It is getting overdue but I am still riding the trend with caution.

Moty, I respect your openness. I respect that you admit your deficiencies as well and ready to work on them. Overall, I respect you as a trader. I have learnt one or two things from you.

As predicted, price can't even break 1.3940 even after BOE decision. Better to wait until NY open before jumping in.

Smart! I think it is better to get out before BOE

"it can go anywhere", this is the keyword. But I don't see anything pushing price below 1.3940 before BOE decision which I predict will take price somewhere beyond 1.4000. Anyway this is just my analysis. I met my target for the day and my week is ...

Aha, I thread as careful as a chameleon

It is not a clear break man. Price action is still in favor of GBP at least until BOE decision which I guess will take it further North.

In my opinion it is too soon to opt for negative rates at the moment. BOE will want to see the effect of her present monetary policy at least until May before deciding on anything. Besides, UK data are not too bad.