Don’t you just love that Fib tool? Playing that retracement off the DO and PDL at around 1.5340 and aiming for the 1.5300 handle could have helped us nab 40 pips!
We had three clear chances to load up on GBP/USD longs at the previous day low (PDL) before the pair staged a 100-pip rally! Money in the bank, homies!
The MPC meeting minutes and UK employment data really did a number on the pound. After breaking through the week open (WO), GBP/USD took a nose dive and broke through the 1.5300 handle!
No real setup to take here, unless you went long just above the previous day low at around 1.5220. Had you bought at that area and held till 1.5300, you would have bagged a sweet 80 pips or so!
Catching the reversal that occurred at the 1.5350 minor psychological handle would’ve given you a sweet 120-pip move to cap off your week, son!
Cable spent most of the day consolidating within a tight range between 1.5250 and the PWL. But once the New York session kicked in, traders took the pedal to the metal and caused price to break to a new high. Not bad for a day trade, son!
There were two money makers on GBP/USD. The first was a short setup at the previous day high (PDH) early in the day. The second was a bounce off the previous week low (PWL) and previous day low (PDL). Catching these two moves could’ve made your week, homie!
Price action pretty much stayed within range, as Cable found solid support at the weekly open. Aside from that bounce off the WO, tt would have been pretty difficult to nab some pips on this day.
Imagine if you had traded the bullish divergence and gone long as price was testing the PDH right before the release of the UK GDP report… You would’ve caught a 180-pip move, homie!
A simple buy off the retest of the week open and aiming for the PDH would have yielded you an easy 50-pips. Not bad for a day’s work playing off a key horizontal level!
Not much going on on GBP/USD. The pair didn’t even make it to the 1.5550 MiPs before it tumbled back down to the DO/WO.
Another solid chance to play support near the previous day low! With oversold Stochastic and a bearish divergence giving us the green light to buy GBP/USD, we could’ve bought near the Tokyo low and held on until price hit the previous day high. That would’ve been 70 pips in the bag, homie!
You gotta love those Asia box setups! Trading the breakout on this day would’ve given you up to 50 pips if you had taken profit at the 1.5600 handle.
Resistance-turned-support at 1.5500 would have been your best bet on this day! Scalping off that level at the end of the New York session could have led to about 30 pips or so!
The release of the U.S. NFP report made for some crazy moves on GBP/USD. It caused the pair to drop straight down to the week open (WO), only to rally back up to tap the previous day high (PDH).
Not much happened on GBP/USD, as it just stuck within its recent range. A short just below 1.5600 would have been nice, and you could have earned a smooth 50 pips aiming for the 1.5550 minor psychological handle.
GBP/USD was pretty quiet during the Tokyo and London sessions. But all it took was the release of the U.S. IBD/TIPP economic optimism report to get the pair movin’ in the New York session. It let to a solid 70-pip drop, homies!
Thanks to some risk appetite hittin’ the markets, GBP/USD was able to break out of the Asian box. If you took that break, you could have earned a smooth 50 pips or so by aiming for the weekly open!
The Asian session consolidation broke to the upside, but sellers had the last laugh as GBP/USD sold off sharply after the release of strong U.S. jobs data. It was a clean 100-pip drop, son!
GBP/USD started the day in consolidation mode, but by the time the London session rolled around, it was all downhill from there! One potential setup would have been to take the break-and-retest of the Asian lows around 1.5415, and ride the move down to 1.5350!
