I,m short on the GBP/USD
I thought the GBP was looking strong, USD has been pairing tight with the GBP. You keeping it conservative or you got some deeper perspective?
Been short all year and have been doing very well. Tend to trade on Political and BOE sentiment and it's worked well for me ... Long term I,m pretty convinced Pound has much futher to fall
GBP/USD DAILY as of Friday, 15 March, 2013
The present wave patterns are:
fast amplitude (8%): bullish wave 2
moderate amplitude (13%): is undefined!
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.57 is decreasing. The Relative Strength Index is at 41.23 in the neutral territory. The Relative Momentum Index is at 8.15 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.03, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 70.37. This value is in the overbought territory.
A SAR Buy signal generated on Friday. If short, this might be a good place to exit.
Mr. Crabs,
early March you were expecting a bounce. Did you long GBP this week or last week?
Looking for a reversal or just a cat bounce?
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