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

With all respect .... how did you know that !!!

I am looking for bearish diversion . but not in 15M or smaller TF.. target is not fib level..but a new low... i.e for me 141.50... then extension to 140.80 area.. then its time to buy again.

PA is still bullish.. can only scalp right now 30- 70 pips..

ukdaytrader and macedonia already answered.

i think we could see 146.10

I think you already understand my way of trading and that what we have been discuss in earlier asian session...am trying to reduce my posting to avoind some mess part...

P/S : To all newbies, pls do not use my point and an entry point as your decision for trading. Use your chart and ask some opinion if found not clear in what you see..am worried people tense to make a lot of argument n complaint into this..and later messy up this post

Appologize for deleting post mentioned my target of 143.20 shorting from 144.20 for my 100pips and i do not expect it will getting mess..but for me if somebody folow that, they still can gain for +50-60pips and may close/put trailing stop if they want. I hope it will not confuse to other people...sorry if it will....

come on mate..I really felt guilty in my post in a few hr ago after got some feedback from macedonia...aiseh...really worried in case people will lost because of me...mmm.......just beacuse my carelesness...

i did not say anything to you, did i, i did not even quote you,

what happem my humble lion...u trade against others here but no problem if u are not losing and ur account is flying

People - will all those who are bitchin' about others pack it in and lets concentrate on the job in hand !

.. I dont want to use your point.. and i dont want any one to use my point either

PS; PA is out of wack...I aint touching this thing.. enough pips for Sunday..... chat with you all later. Next target could be 4HR 50ema. ...146xx level

not really sure if its a true or fake london breakout. will wait n watch. my bias is still to short.... lets wait n see

day open 142.92

gj went down 89 pips a fib number

gj went up 144 pips, again a fib number

i do not see why this could not be traded.

IT can be traded.. but .... I am over my daily pip limit.. against my rule to chase the market.... swing trade is still active....done with day trade for now... will take a break..


Hey my chart never went to 142.92...cause i wanted to go long from that point...??? what the,,..

Commercial real estate is tanking in the U.S. according to something I just saw-

U.S. dollar ready to take another hit?

Hmmm... If only latest 1H movement was bearish, i would short the pair like crazy

if gj breaks 144 fib and trades above it, i will be targeting the 233 fib at 146.25

I will try shorting it at 145.43.. for scalping... Tfs are getting oversold.

Pound a ‘Screaming Buy’ as U.K. Attracts Investment (Update1)


Share | Email | Print | A A A



By Matthew Brown and Ye Xie
http://www.bloomberg.com/apps/data?p...d=iscuT2Iw2zvY

May 18 (Bloomberg) -- The pound’s 20 percent drop in the past year made Britain the first choice when Schroders Plc started buying real estate in Europe last month.
“Weaker sterling makes U.K. property more attractive,” said Neil Turner, the Wiesbaden, Germany-based executive in charge of the money manager’s new 300 million-euro ($403 million) property fund. “The U.K. property market is a screaming buy compared to rivals in continental Europe.”
While the Bank of England said it expects a “protracted” economic recovery in the U.K., where unemployment is the highest since Prime Minister Gordon Brown’s Labour Party came to power in 1997, investors from Millennium Asset Management to Mellon Capital Management Corp. are betting the pound’s decline is coming to an end.
Strategists at New York-based Citigroup Inc. said in a report last week the pound is “among the most undervalued major currencies,” trading almost 15 percent below “fair value” versus the dollar. Barclays Plc predicts it will rise as much as 18 percent against the dollar and 11 percent versus the euro in the coming year. Goldman Sachs Group Inc. sees a 23 percent gain versus the dollar and 15 percent advance against the euro.
Money is already pouring into Britain. Currency flows into the pound from pension funds, insurers and other institutional investors in the 60 days to May 13 were more than 99 percent higher than any comparable period since 1997, according to Boston-based State Street Global Markets LLC, the world’s second-largest custodian of financial assets, with $11.3 trillion.
‘Extreme Undershoot’
“There was an extreme undershoot of sterling versus the euro during the financial crisis,” said David Powell, a currency strategist in London at Bank of America-Merrill Lynch. “The risk of implosion for the financial system has largely passed, sparing the U.K. economy and sterling.”
The pound closed last week at $1.5180, up 2.6 percent for the month, and at 88.93 pence per euro, an increase of 0.6 percent. The currency appreciated 3.3 percent in April against the dollar, the biggest gain since soaring 5.1 percent in the same month of 2006. The pound fell 0.2 percent to $1.5156 as of 1:46 p.m. in Tokyo.
Investors are turning bullish on sterling as the slowdown in the U.K. economy shows signs of abating. Gross domestic product contracted at a 4.1 percent rate in the first quarter, the most since Margaret Thatcher was prime minister in 1980.
House Prices
British house prices rose in March following a 16-month decline, according to Nationwide Building Society. Manufacturing fell at the slowest pace in more than a year in March, the Office for National Statistics said. Retail sales increased 6.3 percent in April from a year earlier, British Retail Consortium data show.
A Citigroup index measuring economic surprises in the U.K. climbed to 64 on May 15, from a 2 1/2-year low of minus 68 in January. The index gives a positive reading when data surpass economists’ expectations. The average reading for the Group of 10 developed nations was 29.
“The U.K. will actually exit the downturn on the earlier side,” said Robert Blake, head of strategy for North America in Boston at State Street. “The pound is undervalued.”
Sterling tumbled as much as 36 percent since reaching a 27- year high of $2.12 in November 2007, three months after losses on bonds linked to subprime mortgages started to freeze credit markets and plunged the global financial system into the worst crisis since the Great Depression.
U.K. companies have been among hardest hit. BT Group Plc, the country’s largest phone company, lowered its dividend on May 14 to 6.5 pence from 15.8 pence after posting a fourth-quarter loss of 977 million pounds and said a further 15,000 jobs will be cut this year.