Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by Gregory McLeod

GBP/USD Rolling Over-- Anybody holding positions over the weekend?

Holding longs GBPUSD , and shorts on GBPAUD

Originally Posted by fazi

Yes - I do have a short till appr. wednesday

there are stops below 1.6060 - I wonder if they are popped today

Patryk

GBP/USD could run down to the 1.6000 area before forming a B leg up back around 1.6250. This would be an ideal short for a run down to 1.5890 (38.2% Retrace of move up from 1.5250 in Jan. to the 1.6300 high)

But I am holding short as well

Originally Posted by JohnG_FX

Holding longs GBPUSD , and shorts on GBPAUD

I like a long too, but I think we may get a flushing out of weak GBP/USD longs before a push higher. Thanks for sharing JohnG always great to have your input!

Originally Posted by Gregory McLeod

I like a long too, but I think we may get a flushing out of weak GBP/USD longs before a push higher. Thanks for sharing JohnG always great to have your input!

1.6061 - stops ahead - John`s deadline for longs is today is suppouse - I mean either long now for 1.63+ or long mid next week to be reversed short fri-mon (<1.63)

Originally Posted by Gregory McLeod

I like a long too, but I think we may get a flushing out of weak GBP/USD longs before a push higher. Thanks for sharing JohnG always great to have your input!

Hi Greg

I'm half expecting a final whip down, but I think it will be short lived as there is a major trendline just below 1.600 also a fib area so looking to add on the drop.

AUDUSD also approaching a major trendline from May 2010 about 60 pips below current market value.

Any bounce on AUDUSD will take GBPAUD down due to the cross multiplier.

Since there are a few Delta guys here, so I feel it more appropriate to post some vodoos here, and not on the Euro thread frightening all the innocents over there.

This weekend it's 121 days from 13/1/2012, 61 days from 12/3/2012, and multiple aspects forming with Sun and with Jupiter, plus Sun/Jupiter conjunction. And more stuff going on on 23/5/2012, and on 5/6/2012.

Have a nice weekend all.

Originally Posted by JohnG_FX

Hi Greg

I'm half expecting a final whip down, but I think it will be short lived as there is a major trendline just below 1.600 also a fib area so looking to add on the drop.

AUDUSD also approaching a major trendline from May 2010 about 60 pips below current market value.

Any bounce on AUDUSD will take GBPAUD down due to the cross multiplier.

John - is your ITD1 due today?

I noticed 1.63 is the highest value for may the 19th options - down from 1.64 quoted yesterday - what do you think about it - is the market above unprotected? Or do the option players see 1.63 as a top of the range?

Patryk

Originally Posted by Franosh

Since there are a few Delta guys here, so I feel it more appropriate to post some vodoos here, and not on the Euro thread frightening all the innocents over there.

This weekend it's 121 days from 13/1/2012, 61 days from 12/3/2012, and multiple aspects forming with Sun and with Jupiter, plus Sun/Jupiter conjunction. And more stuff going on on 23/5/2012, and on 5/6/2012.

Have a nice weekend all.

I have been thinking about the recent (2years) counts " being out of sync." - perhaps the algos just dont care/are not influenced by voodoo - they do certainly like time and price geometry

have nice weekend too.
P

Originally Posted by fazi

John - is your ITD1 due today?

I noticed 1.63 is the highest value for may the 19th options - down from 1.64 quoted yesterday - what do you think about it - is the market above unprotected? Or do the option players see 1.63 as a top of the range?

Patryk

Hi Patryk

Yes ITD1 low due today.

This afternoon I could get calls with a 1.64 strike expiring next week on my platform - they are dirt cheap for sure as after this drop not many people expect it to get that high in a week.

Originally Posted by fazi

I have been thinking about the recent (2years) counts " being out of sync." - perhaps the algos just dont care/are not influenced by voodoo - they do certainly like time and price geometry

have nice weekend too.
P

I think the inherent weakness of Delta counts is that it's based on almost the smallest cycle influences in the solar system. For cycles, there are larger and much more significant and important cycle forces at work. And that's why Delta is such a hit and miss system. But then no cycle studies are simple and straightforward either.

Originally Posted by JohnG_FX

Hi Patryk

Yes ITD1 low due today.

This afternoon I could get calls with a 1.64 strike expiring next week on my platform - they are dirt cheap for sure as after this drop not many people expect it to get that high in a week.

thank you John - for what is worth Geppy had its ITD12 2 days early ( you made some adjustments so I`m not sure how it looks on your charts) which would suggest a late ITD1

have a good weekend

Patryk

FXCM SSI flipped net long on gbpusd. Bad news for bulls. Don't let it get away from you if you are long.

Originally Posted by JohnG_FX

Holding longs GBPUSD , and shorts on GBPAUD

i also holding LONG GBPUSD EURUSD USDJPY GBPJPY AUDUSD.But my short for GBPUSD still holding too

Cable
The BEARS are riding the BULLS with whips out & spurs in.
On the longer time frames the mighty US$$ appears to finally be in command.
I now have grave doubts of any more Northerly excursions for Cable. I do have a target to the North, but I have no confidence in it eventuating. Targets to the South should Cable continue past 1.5900 are in the 1.5400 area. This is a Weekly chart, so lotsa ups n downs on the way to the targets as smaller charts will confirm. Next week 1.6050 is a shoe in, with 1.5940 the end of week target.....

Originally Posted by JohnG_FX

Holding longs GBPUSD , and shorts on GBPAUD

This would be a recipe for a long AUD/USD. The EW count looks mid term bearish for aussie, but the daily trendline at 9975, looks to be supportive short term for a bounce back up to the 1.0225 area before the next major move down towards .9860