gbp/usd

This is a discussion on gbp/usd within the Forex forums, part of the Markets category; It's going to be volatile week this week. TA is out the door. Follow the news. If TM's speech is ...

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Old Jan 15, 2017, 2:16pm   #401
 
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It's going to be volatile week this week.

TA is out the door. Follow the news.

If TM's speech is hard brexit as suggested, sell. Still expecting test of 1.20 to see if it holds.

If speech received positively, buy. See moves 1.20 - 1.24 with PP around 1.22.
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Old Jan 15, 2017, 10:24pm   #402
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Any major selling pressure this week and I'll be opening a long term long for sure
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Old Jan 16, 2017, 1:59am   #403
 
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bit of a gap there at 22.00.... fell below 120 for a bit.
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Old Jan 16, 2017, 2:53am   #404
 
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Quote:
Originally Posted by mike. View Post
bit of a gap there at 22.00.... fell below 120 for a bit.
It held but I fear 1.18 is now next on our support level.

If TM's speech comes across bulshe then it's down elevator.

Noticed Carney trying to support the pound with the next move being a rise and it may well have to be sooner rather than later if it goes pear shaped.
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Old Jan 16, 2017, 9:18am   #405
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the thing is with the £ is that it has already priced in a hard brexit so any selling from here is going to be an over extended move and a major deviation from where the economy is. My finger is close to the trigger
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Old Jan 16, 2017, 9:27am   #406
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The selling in GBP didnt start yet ....
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Old Jan 16, 2017, 11:55am   #407
 
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No quite right. Just a holding position.

Remember, expectations and outcome of her speech at the Tory party conference? Rhinos **** in a china shop comes to mind.

Markets braced for meaningful words but expectations are not high for give aways imo.
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Old Jan 17, 2017, 12:23am   #408
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The pair is trading in a relatively tight range around 1.20/21 after a big gap, but Pound is very fragile and highly dependable on political factor, all focus on May tomorrow. I'm expecting further decline, next target will be at 1.1900 zone.
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