Auslanco - GBP/JPY and GBP/USD (newstrade)

Quoting hussin naiji

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1-Apr 1994 first +170 p then downtrend
2-Nov 1994 first +130 p then downtrend
3-Nov 2000 at once downtrend
4-Feb 2002 first +200 p then downtrend
5JUN 2007 first +220 p then downtrend

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Quoting quecee5

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Malcolmb14,

Great analysis as always bro, love reading it. . .

Here is what I see looking at the daily. . .
GJ may initially go up to test 78.6% fib from the climb started @ 203.30 area @ 207.65 and perhaps 100 ema @ 208.40/50/99 area then turn back to test support below before heading higher.

The support I see is daily 5SMA @ 205.40 which was resistance turned support, then 204.40 area which is daily 5SMA low and 55 EMA, I'm thinking it may spike below down to 203.30/202.90 area once again but the daily will close above 55 EMA @ 204.40/50 area. . . (the demand has been @ 203.30/202.90 area since last week). 202.90 area is daily gann hi/lo. . .
Also, this would complete the consolidation from 192-208.99 if GJ is to go higher to touch 210.56/211.12 area 1st targets.

The reason I say this is if you look at ZL MACD you can see divergence as price continues to go higher. . . Also GJ may be getting a bit OB so we will need to pick up more buyer below to gain mom. to burst through 209/210 resistance if it's to go higher. . .

From there is will depend on the releases, if the data indicates US is in fact in a recession then 190 here we come. . .
Also we must consider that this week is the END OF THE MONTH, we may see fundies lock in profits for the books based on the outcome of the news releases. . .

JMHO of course. . .

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Quoting DutchTrader

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I agree that the USD can't go down forever, but the US economy is shittier than the talking heads admit. Imvho the Fed has no choice but to go to ZIRP, only the Wall St idiots pretend that everything is groovy in the Good Ol US of A. What they're constantly doing is pointing over to Eur, and the UK and yelling "but, but, they're sucky too". Well that's all fine and dandy but US Data has just been horrendous. With all that being said I see the UJ dragging up to 107/108 before, as Malcolmb said, people find out the emperor's got no clothes on and we go back to 90ish, taking the GJ with it. FWIW I think there's already a top in place in AJ, so for this week I'm a USD bull

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Quoting malcolmb14

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I see gj heading north till Wednesday then I expect a reversal if feds do as I think they might. We might even come to a grinding halt at my t01 208.9 ish ( that would form a very nice double top)

My entry today is above the fib extension at 204.90 , with stop at 204.20 and up side target 208.92.

I am just using the fib extension lines as `battle zones` with confirmation of entry using the RSI

If trend reverses to downside and 206 is broken then sell orders come into play with downside target 203.45 .

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Quoting quecee5

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Yep, 107.20 area for US will probably be the turning point as most fundies are short this pair from 104.60 area and looking for more opportunity to short up to 107/108 area. . .

However, I think we will see a slight pullback with both GU and UJ to test lower support the tues/wed will should see start to head north for triple interest wed. From there will depend on the releases which I'm thinking we will head down from there. . . If you look at past history GJ went to 210/211/212 area then back down to 189/185 area after topping out up there. . .

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Quoting DutchTrader

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Yeah there's a double top on UJ on the 4h so I expect 102.80 to be support.

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Quoting quecee5

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Agreed, 102.80 area was also resistance before turned support, so a re-test there would make since IMO!

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Quoting DutchTrader

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I agree that the USD can't go down forever, but the US economy is shittier than the talking heads admit. Imvho the Fed has no choice but to go to ZIRP, only the Wall St idiots pretend that everything is groovy in the Good Ol US of A. What they're constantly doing is pointing over to Eur, and the UK and yelling "but, but, they're sucky too". Well that's all fine and dandy but US Data has just been horrendous. With all that being said I see the UJ dragging up to 107/108 before, as Malcolmb said, people find out the emperor's got no clothes on and we go back to 90ish, taking the GJ with it. FWIW I think there's already a top in place in AJ, so for this week I'm a USD bull

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Quoting DutchTrader

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I look for that to happen London/New York

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Quoting malcolmb14

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Ecomomy can be bad but eurusd and gbpusd can drop lower. gbp and eur starting to feel the heat on slow downs of their economy and European Central Bank crying that the EUR is to strong. They have not cut rates as aggressively as US has.

Now US is worried about inflation = rate hikes not cuts , even a temporary strengthening of the USD then the eur will drop further next week.

I know that this thread is for gj but here are a couple of notes on other pairs i am swing trading right now.

I have downside targets on EURJPY of 150 and am selling the rallies on 2 hour times frames. Did nicely last week and was flat going in to the end of the week.

EURCAD is coming down off a treble top ..... think 1.5170 ( about 650 pips below where it is now) , again I am selling rallies on a 2 hour time frame. It was a very nice 450 pip week last week in this pair. I am flat right now and waiting for a possible retracement on the 60 min to 1.59900 or i will renter the sell order if it breaks down 1.5800 support

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Quoting malcolmb14

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Ecomomy can be bad but eurusd and gbpusd can drop lower. gbp and eur starting to feel the heat on slow downs of their economy and European Central Bank crying that the EUR is to strong. They have not cut rates as aggressively as US has.

Now US is worried about inflation = rate hikes not cuts , even a temporary strengthening of the USD then the eur will drop further next week.

I know that this thread is for gj but here are a couple of notes on other pairs i am swing trading right now.

I have downside targets on EURJPY of 150 and am selling the rallies on 2 hour times frames. Did nicely last week and was flat going in to the end of the week.

EURCAD is coming down off a treble top ..... think 1.5170 ( about 650 pips below where it is now) , again I am selling rallies on a 2 hour time frame. It was a very nice 450 pip week last week in this pair. I am flat right now and waiting for a possible retracement on the 60 min to 1.59900 or i will renter the sell order if it breaks down 1.5800 support

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Quoting malcolmb14

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Ecomomy can be bad but eurusd and gbpusd can drop lower. gbp and eur starting to feel the heat on slow downs of their economy and European Central Bank crying that the EUR is to strong. They have not cut rates as aggressively as US has.

Now US is worried about inflation = rate hikes not cuts , even a temporary strengthening of the USD then the eur will drop further next week.

I know that this thread is for gj but here are a couple of notes on other pairs i am swing trading right now.

I have downside targets on EURJPY of 150 and am selling the rallies on 2 hour times frames. Did nicely last week and was flat going in to the end of the week.

EURCAD is coming down off a treble top ..... think 1.5170 ( about 650 pips below where it is now) , again I am selling rallies on a 2 hour time frame. It was a very nice 450 pip week last week in this pair. I am flat right now and waiting for a possible retracement on the 60 min to 1.59900 or i will renter the sell order if it breaks down 1.5800 support

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Quoting quecee5

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Yep, EUR/USD should help EJ down further as it's expected to hit 1.5300 area 1st target soon. . .

Lots of plays this week it's just a matter of which is the right one. . .

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Quoting jarroo

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Price Action on the Weekly: Inside Bar (candle).

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Quoting jarroo

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Price Action on the Weekly: Inside Bar (candle).

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Quoting DutchTrader

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I think the EU moves up a bit towards 1.5700 then bukkake to 1.5300.

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Quoting frevd

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My closing price is 207.33 which makes it a doji.

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Quoting jarroo

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Price Action on the Weekly: Inside Bar (candle).

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