Strategies for coming weeks?

It seems that coming weeks will be much more volatile, and I would like to have your ideas on GBP/USD,if you’d like to share. I was expecting over 1.50s but it did not happen, we have not seen over that level since January. Can we say that over 1.50 is too much optimistic and 1.50 is becoming a psychological level?:confused:

Concerning releases are expected out of the UK today; pay attention to the cable, as it dropped 200 pips and is now traded at 1.4452 dollars per pound. The next support is at 1.411�

Hope this will help


We are above 1.50s for GBP/USD and housing indexes in UK are getting healthier. According to an article, Pound a �Screaming Buy� as U.K. Attracts Investment, at Bloomberg, pound will strengthen its ground for the coming months. Especially, it’s clearley stated that pound’s still undervalued against the dollar by %18, and 15% for euro, and the eurozone will be the lagging untill the recovery ends.:cool:

It�s unbelievable, but the pair hit the key level at 1.6400 dollars per pound.

Here’s a trade I’m looking forward to next week. Opened the position today after weeks of consolidation between the 32% and 50% fibonacci levels. Basically looking for a continuation of the GBP/USD trend after triangle flag.

Consolidation continues. Possibly until FOMC announcement on Wednesday.

According to the RSI, the GBPUSD is oversold�

The FOMC starts tomorrow at 02:00 (CET).
I don�t expecting any interest rate change�

I don’t expect any awe inspiring news either. If anything, I think the FOMC may say that they see a bottoming in the recession, but weakness still exists.

At some point, they’ll need an exit strategy to take out all of the money they pumped into the economy so that inflation doesn’t get out of control later on.

Maybe they�ll give some level of clarity regarding the timing of further tightening and prospects of the Feds QE program.
They�ll have to comments about the Fed’s asset buying�.

GBP/USD clawing it’s way back. Triangle still intact.

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.

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.

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�.

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 :eek:

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.

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�

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

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.

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.