GBP Losing Ground Against the Dollar?

In the past four days the GBP has steadily lost ground to the USD falling from around 1.9066 to 1.8754. Can anybody see any possibility for the GBP/USD to rise from its current position to 1.8860? or will the fall steadily continue? If the fall continues which could be the nearest resistance point?

Impossible to predict the future, all you can do is go along with the trend and hope it doesn't change to soon.

At the moment, the Trend be down.

I'm assuming your long at 8860, the recovery was even weaker today, so suggests more down side.


good luck!!

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Post #4

Measure the distance between the Blue to Next Blue & Red to Next Red for some clues.

I think the only sure thing to say is a period of high volatility is ahead, much more likely to downside. 20 day bollinger band is a good tool to gauge volatility. When the thing opens up from a flat stage, we generally will see some good momentum. From what i have read so far from G7 whipser, and other info, it looks like major players are adjusting their positions. But you know it is just like a game of poker, you always try to read the other players, but when you are wrong, muck your hand, simple as that. never bet thebank even if you have Acese. happy trading

Why if stock fall the currency goes up? Can someone please answer me.

Thanks.

If the US Stock markets get a rally, then in theory the GBP/USD should go down.

but to be honest, it doesn't follow, it's more of a if the Stock markets are getting a good move, then the Forex gets forgotten about and normally does bugger all.