Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by JohnG_FX

Needs to break 1.6160 but once/if it does I'll be raising stops to 1.6080. Currently long at 1.6119 average

Targeting above 1.6300 but need to see how the structure evolves to refine that - final target could be in the 1.6500's

Hi John -

May the 19th option quotations have 1.64 as a highest value - does it mean that market above there is unprotected, or that option players simply don`t see Cable higher?

Combined 32lunar x 12 ITD : I think 1.6196 divides early and late ITD1 bottom - 1.6182 is a .50 fib - interbank offers also are said to be placed there.

Patryk

Originally Posted by fazi

Hi John -

May the 19th option quotations have 1.64 as a highest value - does it mean that market above there is unprotected, or that option players simply don`t see Cable higher?

Combined 32lunar x 12 ITD : I think 1.6196 divides early and late ITD1 bottom - 1.6182 is a .50 fib - interbank offers also are said to be placed there.

Patryk

I agree on the 1.62 level - we have a lot of resistance at this area. When trading the GBP/USD its many time good to look at the big picture as short term levels as today's 1.6150 usually don't matter too much.

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Hello Traders.

Good to be back after minor surgery and I have been given an all clear from the doctors! I am back in time for some exciting moves in the market.

The Bank of England held rates unchanged at 0.50% while maintaining the Asset Purchase Facility at 325 Billion. This was bullish for GBP.

GBP/USD Breakout Could Target 1.6300

First off I´m glad everything is ok. I also have my eyes here today but would like to see it above the 100 MA before getting in

Originally Posted by Gregory McLeod

Hello Traders.

Good to be back after minor surgery and I have been given an all clear from the doctors! I am back in time for some exciting moves in the market.

The Bank of England held rates unchanged at 0.50% while maintaining the Asset Purchase Facility at 325 Billion. This was bullish for GBP.

GBP/USD Breakout Could Target 1.6300

Originally Posted by Gnarly

First off I´m glad everything is ok. I also have my eyes here today but would like to see it above the 100 MA before getting in

Thanks Gnarly! That is a good call as we did not clear that 100M yet.

Originally Posted by Gregory McLeod

Thanks Gnarly! That is a good call as we did not clear that 100M yet.

You´re welcome Gregory. I also think that if 100 sma is rejected we need to clear the 200 sma before entering short. Let´s see how this plays out, good luck!

Cable channel bounce again

(Greg, welcome back, and glad to know you're well. Was wondering why you'd been so quiet.)

Retail traders reducing short positions which is bearish for gbpusd. Looking for a continued move to my 32 lunar month #2 low due about May 16.

Short-Term Rally in GBP/USD could Stall in 1.6181 Area. Break below 1.6150 could set bigger decline to 1.5950

Originally Posted by Howdyy

Retail traders reducing short positions which is bearish for gbpusd. Looking for a continued move to my 32 lunar month #2 low due about May 16.

Hey Howdyy! Where did you get your "Ratio of Longs" chart?

Originally Posted by Gregory McLeod

Hey Howdyy! Where did you get your "Ratio of Longs" chart?

I sent you a PM just now.

Thanks Howdyy!

Gregory, remember how we where talking about the 100/200 sma earlier on GBP/USD?? It has now rejectedd both / RSI<50 / MACD crossover / overbought stochastic

I gotta tell you, I´m liking a short here, small one, half position, to see how it plays out

GBP/USD Trapped in Range Between 1.6066 and 1.6177 on a Daily Chart

As long as cable stays confined in this 91 pip range, its a coin flip to trade unless one trades the range.

Setting alarms using the DailyFX mobile application to alert you when GBP/USD trades near these levels can unshackle you from your computer and monitor.