GBP/USD 2013 Short To Mid Term Reversal TODAY?!?

up-down

Member
63 3
Hello,
Does anyone think today is the GBP/USD Short To Mid Term Reversal for 2013? Normally GBP/USD ranges from 1000-2000 pips per year (except 2008 and maybe more), last year was 1000 pips more. So far within one month it's already a 1000 pips more without any pullback?
 

Thermal Ebb

Active member
100 15
Anywhere from 1.43 to 1.63 isn't going to be abnormal within the scope of 2013.

If you're asking is it likely to head up again, my view is it's probably going to visit 1.45 before it gets above 1.6, if it does at all.
 

BigBootyBabe

Newbie
0 10
Go long GBP/AUD at 1.4850, target at 1.5116.

Ignore the usd, its not especially overbought or oversold and so no-one gives a toss about it, just gambling trying to trade it.

Focus on buying GBP against AUD.
 

up-down

Member
63 3
@BigBootyBabe
I don't normally trade any other pairs other than GBP/USD. My experience is that you will lose out on rollover fee on a long run. But if you short term day trade within a day that means nothing, but I'm position trader I hold a position for as long as I need until it's clear that I'm in going in the wrong direction. Five lots long at 1.5151, no stop loss, target 200-500 pips, normally they will try to shake your position out violently till the next week, dynamic first hadging position 1.49049.
 

BigBootyBabe

Newbie
0 10
@BigBootyBabe
I don't normally trade any other pairs other than GBP/USD. My experience is that you will lose out on rollover fee on a long run. But if you short term day trade within a day that means nothing, but I'm position trader I hold a position for as long as I need until it's clear that I'm in going in the wrong direction. Five lots long at 1.5151, no stop loss, target 200-500 pips, normally they will try to shake your position out violently till the next week, dynamic first hadging position 1.49049.


Rollover fee? :|

I pay a spread of 10pips for rolling daily (and then £1 per night each night i hold it for),
or 25pips for the seasonal future contract of GBP/AUD.

So very big spreads for this pair, but they are the only fee i incur.


Im looking to hold this into next week, maybe until after the RBA rate decision/cut on 5th March. :cool:
 
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