Thread: Discuss the GBP/USD with a DailyFX Analyst

Hi everyone -

A 5-0 reversal pattern has been formed (most likely) - minimal measured target is 1.59 - I`m not sure yet which ITD bottom comes - it may be a late ITD5 (in 2-4 days) or ITD 7 (end of march).

here`s the link with a description of this pattern - http://harmonictrader.com/50pattern.htm

LTD5 and probably SLTD5 top is quite likely in.

Patryk

Hmm - Sp500 looks like a triangle from the top breaking down - we could see a very long daily candle today

Patryk

Originally Posted by AyoBro

Update.............

Update...... GU at a crossroad, does it follow AU/EU down or does it reject dollar strength?

Update...... GU is so disrespectful, but not to the descending channel, 'Stay In Line GU, I Told You'...... lol. 5982(50ma, daily) will be the real test, looking for a possible long entry.

Could Cable Stage a Relief Rally?

I don't understand why GBP sold off the most today?

the meeting was abit hawkish to me... and yet GBP down the most today

is it wise to pick a short term bottom from here?

Here is a weekly EurGbp chart.

Should this cross pass kumo top resistance (0.87), a diamond bottom will be confirmed and 0.93 - 0.98 is in cards.

This makes me thinking about cable and EU sittuation. Cables SLTD5 is probably in (at least LTD5). SLTD6 has been historically short lasting (6-8 weeks) and corrective in nature. So - EU will probably bottom out earlier and gain more against the buck than the cable will do.

Anyway - I think both EU and GU will gain against the buck over the medium/long term. EURGBP weekly kumo top breakout/failure will tell us which dollar short is better.

Sterling weaker than Euro tastes like Guiness.

what do you think?

Patryk

Originally Posted by FXspeculator

I don't understand why GBP sold off the most today?

the meeting was abit hawkish to me... and yet GBP down the most today

is it wise to pick a short term bottom from here?

Hi,

It is deeply oversold, but my hourly delta shows no.3 bottom tomorrow arround 9.30GMT -

Patryk

Originally Posted by fazi

Hi,

It is deeply oversold, but my hourly delta shows no.3 bottom tomorrow arround 9.30GMT -

Patryk

Ok thanks very much for your information - never look into/study the delta before....

but seem like the British police may have over react on shuting down the heathrow airport terminal 5... The police seem to always over react since the London bombing in 7th July 2005

from what i can see if today move does not make sense the GBPUSD will rise back up again given if 1.6030 hold for today

well,

Saudi Police Open Fire At Protest Rally | zero hedge

"investors" may want to start panic right now

Patryk

Hi Patryk,

My interpretation of this kind fo news will have a negative effect on the USD as CRUDE will increase. Perharps a good time to buy the GBP?

Cheers.
Miss Taytoks

Originally Posted by fazi

well,

Saudi Police Open Fire At Protest Rally | zero hedge

"investors" may want to start panic right now

Patryk

Hi Taytoks

You`re absolutely right, but if it (oil up) causes a massive flight from equities, and margin calls on other commodities ("investors are super short of cash now - and full of longs) the dollar may gain in a short term

Patryk

Originally Posted by fazi

Hi Taytoks

You`re absolutely right, but if it (oil up) causes a massive flight from equities, and margin calls on other commodities ("investors are super short of cash now - and full of longs) the dollar may gain in a short term

Patryk

ok - economic calendar for tomorrow:

1. "Day of Rage" in Saudi Arabia.
2. NO POMO AUCTION SCHEDULLED !!!!!!!!!!!!!!

This is either a big mistake by the FED, or a green light for a ... er correction.

Patryk

Originally Posted by fazi

well,

Saudi Police Open Fire At Protest Rally | zero hedge

"investors" may want to start panic right now

Patryk

lol, LOL, and LAWL!

GU weekly.

Hi Gregory McLeod,

Can we expect a reverse from here ? I've one buy order @ 1.60365. To me it is in the oversold zone.


Your comments will be highly appreciable.

Thnx n rgds

AD