GBPUSD Discussion Only

[zarif]

Very nice thread and lot of goosd contribution with charts and explanations
Keep up the good work

rgds
Zarif

[astro]

Hi guys,
Didn't post yesterday since I was too busy looking for another broker after Oanda pissed me off with their 25 pip spread on cable.
I was so upset I took two trades without too much thinking, which caused me a 40-something pip loss.
(Lesson learned: don't trade while you're pissed off!!!)

Today there was a nice setup: (chart attached)
Asian session has created a beautiful rising channel which was broken after London session started, giving a good entry with a good SL and no real headache during the trade.

Covered the loss of yesterday + change

There was also a nice segup on the swissy, but since it's not a "USDCHF Discussion Only" thread, I'll discuss it somwhere else

Good weekend to all of us

Astro

[FXGenius]

Once again the battle of the bear and bull started. Once again dollar has taken charge. Cable did recover from its losses, but the health of Euro is not looking good and its also dragging cable down.

[FXGenius]

bukumirac and Zarif welcome to the thread. bukumirac nice chart you posted.

[FXGenius]

The week is ended, once again, with great display of US dollar strength and it is likely to continue in the next week.

Have A Great Weekend!

[jodyong]

Aiks, my short got stopped out, been monitering other trades till i have no time for the cable. Well it looks like the cable has retraced to 50%, if it breaks this 50% retracement, I'll go short at a rally but if it goes through the 23.6% retracement, I'll go long at a dip.

[bukumirac]

Originally Posted by FXGenius

bukumirac and Zarif welcome to the thread. bukumirac nice chart you posted.

Thanks FXG,
I am mainly on EURUSD, but few weeks ago follow a GBP a little. My timing was wrong, but I think that firt target wiil be

Happy trading to all of You!

Bule

[astro]

Good week to everyone!

Last week we saw the weekly rising trendline holding the downtrend started by the double top @ 1.9000 on the weekly chart. The week was closed at the (2) point of the double top after a pullback (retest) to that level.
So now I have two scenarios:
1. Bulls power (supported by the rising trendline): price will continue going up, retesting 1.9000, proving us that the pound bulls haven't spoken their last word yet.
2. Bears power (supported by the double-top @ 1.9): price will go back down, break through the trendline, pull back and continue down, giving us the proof that dollar bulls are taking over. This break of the trendline is very important in order to establish a downtrend.

This week is going to be interesting since we are in the middle of a battle between the bulls and the bears.

Good trading.

Astro