Thread: Discuss the GBP/USD with a DailyFX Analyst

Nice work on these charts Stev and TAFool..

Thanks for posting............!

2 gap zone,very strong zone, the price should not break this level
http://s60.radikal.ru/i170/1003/39/3c07b8f1a4ca.gif

Originally Posted by renkoMan

2 gap zone,very strong zone, the price should not break this level
http://s60.radikal.ru/i170/1003/39/3c07b8f1a4ca.gif

dude- can you please explain what you mean by " the price should not break this level" would you mean that if it does it means further upward movement or if it doesn't further downward movement?
I guess given the positive job numbers we will see the 1.518 line broken in the asian session but that's just given since the euro and us markets went into a pro risk currencies and the asian markets missed out. Do share your opinion

Regards
G

Originally Posted by gordy

dude- can you please explain what you mean by " the price should not break this level" would you mean that if it does it means further upward movement or if it doesn't further downward movement?
I guess given the positive job numbers we will see the 1.518 line broken in the asian session but that's just given since the euro and us markets went into a pro risk currencies and the asian markets missed out. Do share your opinion

Regards
G

sry english not perfect i mean, i hope soon down trend continues,
gap lvls very strong res...

Hi Fellow traders, I will be taking a short position on GU around 1.5300 - 1.5400 as there is fibo resistance in this region as the bearish structure is firmly in place on the 4hr and daily chart.

After falling to 10-month low we could see a 'dead cat bounce' for the Sterling. I have posted a 30 minute chart and a 1-minute with Bollinger Bands set for (50,2), (50,3), (50,4). Since the 30-minute trend is up, I look to the 1-minute chart to enter long at market with a 1/4 of my total position. As price moves against me to the next band below, I will add the second position. If price gets to the 200 SMA and the 30 minute trend line, I will add the 3rd part of my position and save the 1/4 for a break above the 1 minute high. The upper band at 1.5167 is my target for all of my lots. We will see how this plays out

Originally Posted by Gregory McLeod

After falling to 10-month low we could see a 'dead cat bounce' for the Sterling. I have posted a 30 minute chart and a 1-minute with Bollinger Bands set for (50,2), (50,3), (50,4). Since the 30-minute trend is up, I look to the 1-minute chart to enter long at market with a 1/4 of my total position. As price moves against me to the next band below, I will add the second position. If price gets to the 200 SMA and the 30 minute trend line, I will add the 3rd part of my position and save the 1/4 for a break above the 1 minute high. The upper band at 1.5167 is my target for all of my lots. We will see how this plays out

I just closed all of the lots at market, I had to eat dinner.

Originally Posted by meonia

Not necessarily a bad trade. Looks like you've got a good stop-loss level to minimise your risk. This still could break back to the upside, but depends how long you're willing to wait. Perhaps you'll see a retrace to the 1.5080 area this evening.

I'm still waiting for the £ to reach 1.5180 - 1.52 area before going with a larger short.

Morning Gents, well we're nearing my levels for a short. Perhaps we could still see a move up to 1.5260 by the US session. 1.52 level should be reasonable though for first short-level entry.

Originally Posted by meonia

Morning Gents, well we're nearing my levels for a short. Perhaps we could still see a move up to 1.5260 by the US session. 1.52 level should be reasonable though for first short-level entry.

I see a wedge forming on the five minute chart, we should see which way it is going to break soon...

Based on current levels on daily chart,i am of the opinion that current trend shall go up till 5380 before it resume down turn.

May have slight reversal by 5275.

Any more idea?

My thoughts are that the 10 day eMA is sitting at 5196 presently, and the pair has dropped nicely when getting near, touching or spiking through over the past couple of weeks.

It looks like any bullisg energy is running out...

We will see!

http://s02.radikal.ru/i175/1003/80/c5eaa499f676.gif

Movement downwards will end, only when will be divergence http://s16.radikal.ru/i190/1003/b5/6f71f11aafcd.gif
its means or double top or new low

Originally Posted by meonia

Morning Gents, well we're nearing my levels for a short. Perhaps we could still see a move up to 1.5260 by the US session. 1.52 level should be reasonable though for first short-level entry.

hi hi.
may i ask wht yr target of yr 15200 short?

my 2cents view & trades:
eur sell 13680 for 13450
gbp sell 15180 for 15000 test again

but tonite if 15100 not break, danger of go up test 15260-15300 again
where my stop buy will be @15210

love pe

can you tell me is gbp now in a buy trend or should i wait for it to drop

Originally Posted by mopneypetrol

can you tell me is gbp now in a buy trend or should i wait for it to drop

I would suggest that you get a chart on your screen, mark support and resistance on it, add a couple trend lines and start to determine that for yourself.

You will gain great experience from doing that.... determine the trend for each time frame, you will fund that they vary.

Most importantly, do some research so that you are in a position to determine the trend without reliance on others. which could prove very costly.

Check out the Fibonacci thread, see the charts in there and start to assimilate the techniques shown on those charts. Lastly, DailyFx offers some courses which are excellent.