Cable Update (GBPUSD)

Quoting vincentprice

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{quote} The direction of the GBP/USD this week and next will be determined by one event, the result of Thursday's general election. Johnson is currently ahead here by 10 points in the opinion polls, which if it happens would give him a majority to vote through the Brexit deal. The result will be known around 2am on Friday morning. Positioning short in the run up to the election is a big gamble.

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Quoting BrainBucks

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One would think that the whole "predictable elections outcome of a Conservative majority" has been well and truly priced in. Consequently, the expectation of a bullish exhaustion, perhaps even caution, at current price levels simply cannot be ruled out. Chances of a significant pullback hence are heightened. 1.3170-80 should serve as a tough resistance from the start of this week. We go SHORT from here...

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Quoting Guztro

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{quote} I hold the view that the election is not the stumbling block for the pound, getting all the trade agreements concluded by end of 2020 is the real issue. It took Canada 7 years to conclude their agreements, so a no deal is still very much alive. Guz

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Quoting knkie

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{quote} it does not really matter. If conservatives win the conservative bulls will rally and if labour wins the socialist bulls will rally

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Quoting Guztro

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{quote} I don't think so, if labour wins, they are more likely to open the whole thing up for another referendum, that won't be good for the pound. On another note, there's still the possibility that the election could go either way as there's apparently a healthy percentage of youth and undecided voters not factored into the polls.

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Quoting knkie

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{quote} well i was joking around but if you want to get serious: it does not matter. The pound will rally no matter what because election news has no influence on the price at this point, in my opinion. Christmas will come early this year if commi-anti-semite corbyn- gets decimated.

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Quoting PandaTradeFx

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{quote} Hi, Moty I don't trade using indicators, but as I can see every indicator on your chart except Fibonacci (but we can extend it on uptrend wave and it also will become bullish) showing an up move, but your forecast is for down move, why is that?

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Quoting knkie

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{quote} where is your stoploss? do you use vwap as indicator?

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Quoting NieFenG999

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In my opinion whatever big data or election or something, the price won't go to far because each have their own cross rate and each other won't lose their currency. The point is the price will go up or down, what should we do??? Just protect your money and minimalize your lose, find the best entry timing don't because you hear or look someone else trade, but use your own analyst. Don't regret to lose, and don't affraid to hold your profit to get more profit. Thats how a trader can survive and have more income.

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Quoting NieFenG999

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In my opinion whatever big data or election or something, the price won't go to far because each have their own cross rate and each other won't lose their currency. The point is the price will go up or down, what should we do??? Just protect your money and minimalize your lose, find the best entry timing don't because you hear or look someone else trade, but use your own analyst. Don't regret to lose, and don't affraid to hold your profit to get more profit. Thats how a trader can survive and have more income.

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Quoting BrainBucks

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{quote} Oh my SL is quite tight and directly above mentioned resistance, precisely @1.3185 I've been trading for at least a decade and I swear I have no shame in admitting that I know not what "vwap" is! Other than my candlesticks, I use no indicators whatsoever. I simply stay glued to my charts like a 9 to 5, searching for my daily 5% turnover. Needlessto say, with an eighth of my account as margin, and risking 1-2% of capital per trade, I have reached my 5% for today after shorting from 1.3173...

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Quoting 19monza64

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Quoting Marcieny

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I am pessimistic on pairs of pounds, for while... I'm only observing, and waiting what the price can made.

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Quoting ILovePizza

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{quote} I think any further upside on the hopes of good news coming out of UK elections will be limited and there is a very strong resistance at 1.31722.

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