GBP

Weekly candle close will be a bullish hammer.

A decent retracement would take us back up to around 1.54 or 1.55 over the next couple of weeks IMHO.

Personally I am neither a buyer nor a seller at the current levels.

i doubt we will close above 1.52...profit taking should come in unless sentiment has reversed which is very likely as euro didnt get the financial support from berlin as hoped..next week should be a sterling killer

@ pipped off...what we saw this week was a clear break below 1.50 and closing below last fridays close which to me is BEARISH for a typical march month when looking for weekly trends.

rkkashmir: Seriously, please stop trolling this forum. Here is a quote from you made at the beginning of this year on Jan 5th:

"These are the best forums I have come across, Ashraf is certainly at or near the top FX Analysts as far as I am concerned.
Let's work together to make some $$$. My positions are short EUR and long USD/JPY nas I am taking advantage of the sharp USD/JPY pullback do to the repatriations in yesterdays market."

I don't know what happened during the intervening weeks, but your current series of childish posts, certainly dont give you much credibility, and more importantly don't add anything positive to these forums. This is ASHRAF'S website (note the URL!), he does not charge anything and asks nothing from you in return for his market analysis (except perhaps for an occasional shorty award vote). Please take a step back and look at your behavior- it is frankly unacceptable from the mature intelligent person I am sure you are. If you do not like Ashraf's analysis, you are perfectly free to go elsewhere.

Personally I am immensely grateful to Ashraf for providing us with this site and his insights. I have been trading for over ten years now and he is certainly one of the most successful and professional analysts I have encountered in that time. He sticks his neck way out for us day after day, giving us his opinions BEFORE data is released, and he is recognized around the world for his success in this.

Trading is stressful enough. When I am researching a subject on this site, I really dont appreciate having to sort through the unpleasant and unhelpful remarks you have been making recently.

Sorry for the rant.

Who in their right mind is going to step in front of gbp/usd?

Just a warning: Ashraf has already once today raised his cap level from 1.5120 to 1.5200.

Anyone care to wager what the next cap above 1.5200 Ashraf will give as soon as this pair dqueezes through its second cap of the day?

The many gbp/usd shorters here have been burnt to a crisp with this relentless assault.