guys and girls Please give your input as where do you think GBP is headed next week. I will trade it and post the result.
In the coming week, GBPUSD probably will end the week with a closed up weekly candlestick.
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Beware of shorting GBP when a Brexit deal announcement (or rumour of one) could come any day…
I think GBP is artificially low in any case.
Trouble is 2/3 of retail are long GBPUSD (IG Index) - this has been remarkably persistent for several weeks now - so I can’t see it going up significantly without busting those stops - DOWN significantly before it goes up (IMO) ! - whether that is next week or not - who knows ! (And of course Party conference season is rapidly approaching - when that woman “may” well get her “just reward” 
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[Edit 1.1920 ? or even 1.0500 ? are where it needs to go methnks ! ]
That edit - really? That low? 
I’ll be happy with 1.2600. Are you in a GBPUSD trade now?
Hi Purtle, Long term I think it has to form something like a double bottom with the low formed a year or so ago before going very much upward. Whether it gets to 1985 levels is probably unlikely - I may well be wrong on that because it has already retraced a little over half way of least year’s move, so the recent low could be a turning point. But it is around mid-way and therefore in “no man’s land” IMO.
Friday’s action was quite interesting I think because it went above the “Exuberance bar” from Wednesday which was later revealed as a “fakey” - although it did portend how the market might feel about and “Agreement” [ANY Bloody “Agreement”!] on the Brexit issue. However any “Longs” left in from Wednesday could get out with a profit and go into the weekend flat. It would also have relieved most of those who shorted on Wednesday of some of their money by busting their stops - but that would have been a “Buy event” and clearly the pin bar (hourly) showed more appetite for selling than buying and I don’t think many would have been entering new positions on a Friday afternoon, and again it has finished in the “Middle third” after a pretty sharp pullback.
Apparently our “Boris” has been somewhat critical of “may”'s handling of the situaton and with “conference” approaching that could be seen as a leadership challenge - especially after he announced his forthcoming divorce last week, so that may be seen as a “reason” to gap it down over the weekend. - possibly to jump over any remaining stops below wednesday action ? Then your 1.2600 may be feasible ?
No I’m not in any position atm -
We’ll see. This coming up week should be interesting.
i entered at 1.292. so far so good.
1.2800 is here! Next stop 1.2600?