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Cable Update (GBPUSD)

  • #432,041
  • Jun 8, 2016 7:09am Jun 8, 2016 7:09am
Quoting adetola99
{quote} 8 pips up and closed
33 pips today but I just stayed in the market a bit longer.....

Bit knackered though....exhausting session.....was hard to pick a direction there for a while
Don't Leave Money on the Table
  • #432,042
  • Jun 8, 2016 7:13am Jun 8, 2016 7:13am
My view on GBPUSD

British Pound has been very vulnerable to the recent Brexit polls. Cable also experienced high volatility after a poor NFP print last week. Despite these factors, the pair has been climbing steadily over the last few weeks.
I expect this uptrend to continue in the short term. The current price action offers low risk long setups based on trend following principle.
Today’s UK manufacturing and industrial production printed higher than expected number, which should add to the bullish sentiment.
Technically the most recent higher low formed ascending channel and the price seems to be trending higher.
Long position can be established around 1.4550. This is a major Pivot Point area, lower band of ascending channel and a decent support.
Bulls should wait for the price to retrace to that level to enter longs.

Stop loss could be place below the recent lows at 1.4490 area.
Take profit lays around the major resistance at 1.47.
Attached Image (click to enlarge)
Click to Enlarge Name: usdgbp long.JPG Size: 135 KB
HumbleTraders
  • #432,043
  • Jun 8, 2016 7:13am Jun 8, 2016 7:13am
Quoting HaLBot
{quote} 33 pips today but I just stayed in the market a bit longer..... Bit knackered though....exhausting session.....was hard to pick a direction there for a while
Good for you man
  • #432,044
  • Jun 8, 2016 8:19am Jun 8, 2016 8:19am
Long G/U 1.4570 target 1.4650
Just 20 pips a day to riches
  • #432,045
  • Jun 8, 2016 11:36am Jun 8, 2016 11:36am
Short against this 1.4601 top, SL at break of upper channel line, target 1.4210 area.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 8Jun16.png Size: 43 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #432,046
  • Jun 8, 2016 1:16pm Jun 8, 2016 1:16pm
A lot of ranging before the Britain vote in 2 weeks. I'm playing the range. Long at 1.4505. TP 1.4595. SL 1.44
I wanna be a billionaire so freaking bad!
  • #432,047
  • Jun 9, 2016 12:12am Jun 9, 2016 12:12am
i m expecting north, up to 1.46, any one else?
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #432,048
  • Jun 9, 2016 12:17am Jun 9, 2016 12:17am
Quoting thirdforex
A lot of ranging before the Britain vote in 2 weeks. I'm playing the range. Long at 1.4505. TP 1.4595. SL 1.44
Yes this is plausible strategy. Looks good.
  • #432,049
  • Jun 9, 2016 12:21am Jun 9, 2016 12:21am
any idea about next poll relevant to Brexit, from where we could get news and timing of poll
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #432,050
  • Jun 9, 2016 12:40am Jun 9, 2016 12:40am
Quoting Tpak
i m expecting north, up to 1.46, any one else?
Guess you must of heard the news then before everyone else - poll says we are now staying in the European zone due out at 9 am ..

Joking with you OK ..
  • #432,051
  • Jun 9, 2016 1:03am Jun 9, 2016 1:03am
Quoting dean1star
{quote} Guess you must of heard the news then before everyone else - poll says we are now staying in the European zone due out at 9 am .. Joking with you OK ..
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #432,052
  • Jun 9, 2016 1:49am Jun 9, 2016 1:49am
Lookout Draghi in 10 minutes.....

Why is the jawboner of the century speaking so early in the morning????
Don't Leave Money on the Table
  • #432,053
  • Jun 9, 2016 2:40am Jun 9, 2016 2:40am
What is happening when both Pound and Euro are falling against the Dollar and the Dollar is falling against the Yen?????
Don't Leave Money on the Table
  • #432,054
  • Jun 9, 2016 2:47am Jun 9, 2016 2:47am
Quoting HaLBot
What is happening when both Pound and Euro are falling against the Dollar and the Dollar is falling against the Yen?????
For the next movement will be strengthened Euro against GBP, although they have a positive correlation can be seen from the EURGBP, for the Yen is different but similar to the USDCAD..-IMO

ECB policy influenced more against the Euro n GBP ...
Libenter homines id quod volunt credunt
  • #432,055
  • Jun 9, 2016 3:03am Jun 9, 2016 3:03am
ok then question million dollar. why it stopped to blow up 4700? it was so close and then stoped. i dont get.
  • #432,056
  • Jun 9, 2016 3:05am Jun 9, 2016 3:05am
Quoting Trader88q
ok then question million dollar. why it stopped to blow up 4700? it was so close and then stoped. i dont get.
do you mean 4600, because yesterday price stopped there and headed down???
Don't Leave Money on the Table
  • #432,057
  • Jun 9, 2016 3:06am Jun 9, 2016 3:06am
unnormal week. first go down to 4350 to create faking image of crash then reversed to 4650 to create the image of bullish fly and now slowly but steadlly going again down. faking gamers.
  • #432,058
  • Jun 9, 2016 3:08am Jun 9, 2016 3:08am
Quoting HaLBot
{quote} do you mean 4600, because yesterday price stopped there and headed down???
no i mean it had a strong trend up and then stopped with no reason. suppose faking gamers had i goal to take faking 200 pips this week? is that it?
faking 200 pips was they goal? chaaaa. usually they have big appetites
  • #432,059
  • Jun 9, 2016 3:10am Jun 9, 2016 3:10am
Quoting Trader88q
unnormal week. first go down to 4350 to create faking image of crash then reversed to 4650 to create the image of bullish fly and now slowly but steadlly going again down. faking gamers.
UK economy doing well but this is due to UK referendum coming out soon, can expect more crazy price action to come....If there was a definitive poll out one way or the other then be easier for everyone but I guess it's going to be a close thing
Don't Leave Money on the Table
  • #432,060
  • Jun 9, 2016 3:11am Jun 9, 2016 3:11am
how would you define the market then ,if it does that

Quoting Trader88q
unnormal week. first go down to 4350 to create faking image of crash then reversed to 4650 to create the image of bullish fly and now slowly but steadlly going again down. faking gamers.
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