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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:

GBP

Discuss GBP
 
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Callum
Singapore
Posted Anonymously
14 years ago
Apr 1, 2010 12:52
Ashraf mentioned in his earlier IMTs about the unlikely scenario of GBPUSD 1.53, but I won't be surprised if this holiday madness plus NFP gets everyone to eye on March's high of 1.5376. As for GBPJPY, it's already blown out daily moving average 100. The next step I guess is to wait-and-see.
nzvik
Auckland, New Zealand
Posts: 225
14 years ago
Apr 1, 2010 12:09
1.53 may be a good level to short GBP if it gets there.
macrosam
United States
Posts: 190
14 years ago
Apr 1, 2010 12:02
The recent USD weakness is expected. After the golden cross Ashraf pointed out, hit resistance around 82.00 but the recent decline would still leave it ready to bounce off the uptrendline for a retest of 82.00 and then 83.00. The USD cannot go straight up for too long so these short-term pullbacks are expected.

Closed my GBP/USD short. Would look to re-enter GBP short mid-term but not short-term.
ptaczek
Brno, Czech Republic
Posts: 110
14 years ago
Apr 1, 2010 11:38
@ING: well, it's NFP week, it's also Q1 end week and it's also Easter week with long weekend. Market is shrugging off news after news, waiting for tomorrow. And it's a bank holiday for everyone but USD and JPY :) and I really don't know what can we expect under given circumstances.
INGbalek
Trencin, Slovakia
Posts: 120
14 years ago
Apr 1, 2010 9:55
Hey mates,
Fortunatelly, my trading inner space intervened yesterday, and got me out of every eur usd and gbp usd shorts in 2 to -2 pips...what appears to be now a very good state on my account, even though I dont prefer to skipp off any trades before hitting my initial targets...It forced me to realize, that its not heroic to hold it and tell yourself, ok , i traded like the books and PROs, i can be confident with my performance, but the loss is bigger...maybe those targets wouldnt be hit, but i like it how it is NOW..

anyway...in my opinion, that usd strenght appears to be delayed..I just dont see any signals to prove it,,,maybe 2mmorows NFP could help,,who knows,,it is like rollercoaster,,but more downside,as for USD..
ptaczek
Czech Republic
Posted Anonymously
14 years ago
Apr 1, 2010 9:35
The Pound is now gaining against USD for 6th day in a straight tight upward channel - almost like made in laboratory. 1.500 level is 220pips behind us, elections ahead.
Yesterday's negative US ADP did not manage to take equities down so the dollar remains weak and the Yen continues selloff.
For me, the only 'hope' for stronger dollar is disappointing Friday's NFP and unemployment (equities down) as the perception of dollar is now undermined by worsening housing AND jobs. Therefore the dollar could strengthen as a safe haven IF the apparent risk appetite erode. Moreover, yesterday was the end of the Q1 and most price moves were distorted.
Precious metals are too stronger most likely due to the weaker dollar. Silver leads the way currently at 17.7.
I'd like to be on the sidelines but I have some badly placed shorts to manage. Good luck everyone.
macrosam
United States
Posts: 190
14 years ago
Apr 1, 2010 0:56
Short GBP but a bit more cautious, watching GSP/EUR and think could retest resistance line of what may be a symmetrical triangle in the making. UK growth could surprise relative to EU and wonder if GBP and EUR will start to diverge a bit. UK worse off re: current fiscal position than EU in aggregate but may be more of a medium-term play? Personally (just an opinion) think short-term UK gets a bit a a reward vs. the EU for being prescient enough to decline entry into the euro and that there is no issue of sovereign unity.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Mar 31, 2010 20:29
@Ashraf: Thanks for the tip - should have thought of that. Yes, useful, plus I noticed the link to the YouTube reviews of the London seminar. Are there plans yet for a further London one this year?


@Amg: I'm inclined to agree.
amg
Oklahoma, United States
Posts: 38
14 years ago
Mar 31, 2010 18:55
Notice how cable failed to break above its 200 MA on the 4 hr chart, to me this look like a great level to go short again with a sl just above 1.52. Good luck to everyone!
PureStones
Korea Sout
Posts: 67
14 years ago
Mar 31, 2010 12:03
all good luck~
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