Cable Update (GBPUSD)

Quoting RazorFitch

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GU is under pressure to break out based on 10 years Flag pattern (Monthly Chart), however, we dont know that yet and we cannot prove it yet. Fundamentally, all the measures are there, and it might break out upward in 4 weeks on Brexit Day. Now, going back to short term trading, GU did not make a wick or a shake out on 4H, so most probably, GU is heading to 1.34xxx for the time being, and its an opportunity to buy on every dip until a clear reversal sign is obvious on 4H. Where to enter the long ? thats tricky one... it depends on your patience,...

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Quoting OnlineAddict

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{quote} Fundamentally, brexit is good for the pound? Sorry, but this is the dumbest thing I have read in a while. Please do not comment on economics any further. I am glad you are long, makes me even more relaxed.

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Quoting RazorFitch

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{quote} And who are you to judge on the fundamentals... just because you know how to type in english doesn't make you a cow boy ...

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Quoting Catempire

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{quote} Razor perhaps you could give us a reasoning as to why and how Brexit will make the £ go up in value ?

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Quoting nessus94

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{quote} You said you expect the pound to rocket in value during Brexit day you said the same

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Quoting Wavegarrick

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{quote} Anyway, this is a start. Maybe a chart or so will help. Cheers.

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Quoting RazorFitch

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{quote} {image}

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Quoting HBN08

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expecting a touch in 1.34300/500 1h view not tradin gu for , waiting {image}

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Quoting RazorFitch

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{image}

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Quoting goldencalf

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{quote} so it will be false break out from 7 years trendline, triangle.. and comeback to 1.3250, and all the way down, or up?

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Quoting Catempire

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{quote} Dude lol that was good old English sarcasm ... I've been ranting on all week about how we should expect it start getting priced in. Read my posts this morning... I've made very clear my take on the whole thing... pretty sure there is not a man alive who understands economics who thinks Brexit (even with a deal) will be good for the pound. EDIT:: Certainly not to begin with at the very least... down then up, 3rd test of lower trend... confusion at the bottom... then up {image}

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Quoting nessus94

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{quote} If it is that easy all the traders will go short pound for Brexit that is why it will rocket end of december

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Quoting goldencalf

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{quote} so it will be false break out from 7 years trendline, triangle.. and comeback to 1.3250, and all the way down, or up?

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Quoting nessus94

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{quote} If it is that easy all the traders will go short pound for Brexit that is why it will rocket end of december

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Quoting Catempire

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{quote} Dude it is economics. The chart is driven by fundamentals/economics/psycology. Anyone with huge amounts of wealth in the pound will be moving it to a safer haven until after brexit, the pound will not be in demand, why would people see it as a good investment with such uncertainty ?? Sometimes, just sometimes, based on fundamentals it is clear to see which is the overal direction of an asset... this is one of those times. The question remains... does it go higher before dropping ?? But to think that instantly post brexit the pound rockets...

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Quoting Catempire

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"pretty sure there is not a man alive who understands economics who thinks Brexit (even with a deal) will be good for the pound." Which confirms... this chap hasn't got a scooby what he is on about regarding fundamentals... good at drawing lines I'm sure. "Fundamentally, all the measures are there, and it might break out upward in 4 weeks on Brexit Day." Can i have my subscription money back please?

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