I see potential.
Can’t make a call until close of the NY session. I have to play by my rules!
KC
Think of the Monte Carlo Fallacy, indeed a common thought of a gambler is those five words.
Stocks’ Long Upward March: Is a Correction Due? just one headline from a respected site, dated Feb 2017.
Calling tops or bottoms using the time factor is guesswork at best.
I think that I would go long with strong break of 1.3344, looking for a target in the 1.3526. If that resistance becomes support it has some open space to the left.
KC
GBP/USD reacts to the upside this week. I think we can see 1.35 next week.
I think 1.32 is not too far in the distance and possibly 0.618 at 1.2960.
Slightly recovered this week. Trend is still undefined in the short term.
I have to say, that was April 13th. - A pretty good call all in all !
june 1st - not successful, but could have been and either would have made a few pips or lost a few - depending on exit strategy.
June 8th - Wrong, but again I see the logic.
June 15th - not much 0f a target to 1.32 but made it. Not to the 1.2960 tho. I wonder if 1.3050 is "close enough " ?
Tonight June 29 - looks as tho’ they will “park it” just below 1.3200 for the weekend.
I can only see “down” on the higher timeframes, but a little “optimism” crept in today.
BUT I just can’t try to follow a trend this old !
Retest and turn perhaps ?
GBP/USD has moved somewhat north, first res 1.3290.
Choppy market this week, i’m neutral currently, but more inclined towards bearish sentiment.
The pair got away from the support but today it went back in, looks like it could attempt a bullish move.
Faring around 1.31 for the week with nothing exciting.
I’m bearish for the week ahead.
Sterling rose today, there was a strong support that was broken so I expect more to the downside.
The pair seems to be difficult to get a ride on.
I think GBPUSD is going to depreciate in light of the recent USD rally. Altho I’d like to see the opposite.
I’m waiting to sell around 1.3180, it’s kinda in a consolidation right now, if it breaks 1.2980 we could see another leg up.
I’m bearish on the pair until 1.2590. Good opportunity to go long.
I think they would agree on soft Brexit, both parties need each other.