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GBPUSD Discuss price action in the British Pound versus the US Dollar.

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Old 06-23-2009, 12:43 PM
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GBP/USD clawing it's way back. Triangle still intact.
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Old 06-24-2009, 04:57 PM
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Another day, another range. Attached is a closer look at the GBP/USD chart from June 9 - 24. One hour chart. While the triangle has been in development we've seen GBP/USD ranging between 1.6250 and 1.6500. Still long, but there are still trading opportunities on a shorter time scale it goes to show.
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Old 06-25-2009, 03:26 PM
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The more you stare at this on the 1 hour chart, the more the range continues to develop. Since yesterday's post, GBP/USD fell to the bottom of the range bouncing up to 1.63650 right near the middle of the range. Possible way to take advantage of this point is to open long and short with a limit at each end of the range or wait for it to reache resistance and short if you think the range will continue.

Still in my long position from Monday, but may get out seeing how the range has persisted.
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Old 06-25-2009, 04:19 PM
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The cable is rebounding after getting near the support at 1.6210. The pressure created by the greenback and the repercussions of BoE Governor’s words yesterday are putting more pressure on the gbp….
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Old 06-26-2009, 02:44 PM
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Beautiful, the market has moved right back to the top of its range since yesterday.

Have you been making any trades neSSA?

NFP announcement is next week
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Old 06-30-2009, 02:45 PM
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False breakout in the GBP/USD earlier this morning, pushed above 1.6700 then dropped 300 pips in the next 12 hours. Back to consolidation but a valiant effort by the bulls.
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Old 07-02-2009, 04:15 PM
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Today’s NFP were worse than expected!!!! For like a bunch!!!!
Of course I was waiting with my platform open; the only thing missing was the pop corn!!!!!
I had a 100 pip rally for gbpusd!!!!!!!!!!!! I made 1000 backs and got out in 15min, didn’t knew how long I was going to keep it, so I played it save… I tend to hold positions for 3-4days, but today was an exception…
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Old 07-07-2009, 02:00 PM
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GBP/USD is finally starting to break the bottom of the range. Setup for a breakout, and sold at 1.62, target of 1.59
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Old 07-08-2009, 10:08 AM
 

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No the GBP/USD is moving down town towards 1.5899, the weakness of the Pound sterling is linked to the BOE recent statements and housing data that indicate the UK recession is not "over" and will be with us for some time. Now i personally believed the GBP/USD would rally back up once it hit the 1.6120 area, but i was wrong.

Will just have to wait for the bottom and then buy up the market, offsetting any losses.

This is the most volatile pair on the FX exchange.
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Last edited by DBFXBroker; 07-08-2009 at 10:11 AM.
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Old 07-08-2009, 12:37 PM
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Quote:
Originally Posted by Jason Rogers View Post
GBP/USD is finally starting to break the bottom of the range. Setup for a breakout, and sold at 1.62, target of 1.59
Not looking good for the GBP/USD today but doing well with the short gbp/usd trade. EUR/JPY is also getting hammered. Below 130 and looks like it's getting ready to test 129.
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