Joined Nov 2010
Status: To pip or not to pip...
I usually give close scrutiny to currency pairs when I am in a position. The gaps on Sunday have been less and less pronounced that I have noticed over the years, however the extreme acts of terrorism could possibly be a factorů
The British pound fell initially during the week but found enough support at the 1.2750 level again to bounce and test the 1.29 handle. I believe we are essentially consolidating between the 1.2750 level on the bottom and the 1.3050 level above. Because of this, I think that short-term pullbacks will continue to be buying opportunities, and I do like the British pound although I recognize that the upside is somewhat limited in the short term.
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Yeah I just got out of a long position at 1.28798 for only a 13pip profit, but that was a hell of a lot better than the 64 pip loss that I was looking at when the market opened this morning! I think I might sit this one out until after the election.
Long bias on Pound Dollar from now on - Expecting flucuations around the Election Time.
On a personal note and reading how things are going down in the UK with security one cannot but feel the tensions over there from here, but it seems to me that they (the perpetrators) have just enforced, in fact even re-inforced the notion of a conservative win for this election, if you look at the swift response and what 8 mins to hunt and take the perpetrators down, it just seems that the people now will focus on safety issues in a far greater manner when they vote and Brexit could well take a back seat on an emmotive level, and for sure you cant in any way fault the security services in the UK, incredible 8 mins to take them out that surely is a first for such a situation, when you look at the hours of duration on other incidents around the globe the past few years, so Conservative Majority this week thats a forecast, especially with their opponents reinforcing the notion of more immigration to the UK, these posts are not easy to write when trading but sometimes one must observe the reality of this world and in this moment. Staying bias with Long on this pair.