Thread: Discuss the GBP/USD with a DailyFX Analyst

How much low can forseeable about them ? or is it a bulish trend now ?

EURUSD - The ratio of long to short positions in the EURUSD stands at 1.37 as nearly 58% of traders are long. Yesterday, the ratio was at 1.52 as 60% of open positions were long. In detail, long positions are 1.8% lower than yesterday and 7.9% weaker since last week. Short positions are 8.7% higher than yesterday and 7.1% stronger since last week. Open interest is 2.3% stronger than yesterday and 5.2% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 2.88 as nearly 74% of traders are long. Yesterday, the ratio was at 2.94 as 75% of open positions were long. In detail, long positions are 2.4% lower than yesterday and 18.6% weaker since last week. Short positions are 0.1% lower than yesterday and 20.1% stronger since last week. Open interest is 1.8% weaker than yesterday and 0.3% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.

GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.67 as nearly 73% of traders are long. Yesterday, the ratio was at 2.88 as 74% of open positions were long. In detail, long positions are 2.0% higher than yesterday and 6.8% weaker since last week. Short positions are 10.1% higher than yesterday and 12.7% stronger since last week. Open interest is 4.0% stronger than yesterday and 10.9% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.

USDJPY - The ratio of long to short positions in the USDJPY stands at 5.42 as nearly 84% of traders are long. Yesterday, the ratio was at 5.09 as 84% of open positions were long. In detail, long positions are 1.6% higher than yesterday and 4.7% weaker since last week. Short positions are 4.6% lower than yesterday and 16.0% stronger since last week. Open interest is 0.6% stronger than yesterday and 0.1% below its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

USDCHF - The ratio of long to short positions in the USDCHF stands at -1.40 as nearly 58% of traders are short. Yesterday, the ratio was at -1.44 as 59% of open positions were short. In detail, long positions are 6.4% higher than yesterday and 1.5% weaker since last week. Short positions are 3.3% higher than yesterday and 26.2% weaker since last week. Open interest is 4.6% stronger than yesterday and 12.3% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.

AUDUSD - The ratio of long to short positions in the AUDUSD stands at 2.88 as nearly 74% of traders are long. Yesterday, the ratio was at 4.07 as 80% of open positions were long. In detail, long positions are 9.2% lower than yesterday and 3.0% stronger since last week. Short positions are 28.3% higher than yesterday and 16.2% stronger since last week. Open interest is 1.8% weaker than yesterday and 4.2% above its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 3.49 as nearly 78% of traders are long. Yesterday, the ratio was at 3.52 as 78% of open positions were long. In detail, long positions are 1.6% higher than yesterday and 19.6% weaker since last week. Short positions are 2.6% higher than yesterday and 25.0% stronger since last week. Open interest is 1.8% stronger than yesterday and 12.9% above its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.

EURCHF - The ratio of long to short positions in the EURCHF stands at 34.47 as nearly 97% of traders are long. Yesterday, the ratio was at 35.10 as 97% of open positions were long. In detail, long positions are 0.2% lower than yesterday and 4.5% weaker since last week. Short positions are 1.6% higher than yesterday and 2.3% weaker since last week. Open interest is 0.2% weaker than yesterday and 10.4% below its monthly average. The SSI is a contrarian indicator and signals more EURCHF losses.

Originally Posted by root-minus

this outlook makes alot of sense, thanks for this

You are welcome! Thanks root-minus for your posts and charts. I have learned a lot.

awaiting a sell at 1.57185 for quick few scalp


allowance 10 -15 manual stop

I'd be interested to know peoples thoughts on cable, are we going to see 1.53 again in the next month or so or are we going to see a little consolidation running up to the Greek election then a retest of 1.63 (& beyond??) if they select a pro-austerity govt, with the pop in risk that is likely to give...?

Originally Posted by Gregory McLeod

You are welcome! Thanks root-minus for your posts and charts. I have learned a lot.

thank you for the kind comments



1.57185 cable missed entry value by a fraction - no trade

Originally Posted by Gregory McLeod

You are welcome! Thanks root-minus for your posts and charts. I have learned a lot.

thank you for the kind comments



1.57185 cable missed entry value by a fraction - no trade

Originally Posted by Cesil9227

I'd be interested to know peoples thoughts on cable, are we going to see 1.53 again in the next month or so or are we going to see a little consolidation running up to the Greek election then a retest of 1.63 (& beyond??) if they select a pro-austerity govt, with the pop in risk that is likely to give...?

Hello Cesil9227,

That is a good question. Moving out to a weekly chart, it looks like the highs of April may be in fact, the highs of the year. I think Cable could move down to the 1.5300 and lower.

Thanks for asking and contributing to the on going conversation.

A big WELCOME too!

Originally Posted by fazi

Hi John,

What do you think of a double MTD inversion? - SP500 looks botttomish and it would make ITD2 early

Hi Patryk

It's possible. But for that I'd put in an inversion on the ITD1 as well, which would have us going down until Monday - Wednesday next week with a target between 1.5560 - 1.5460

Edit : if we don't bounce soon then I'll be considering the inverted ITD1 anyway as it's leaving very little time for a 4th which is usually drawn out timewise.

opened buy 1.56523

Originally Posted by root-minus

opened buy 1.56523

Attachment 129387



secured

Originally Posted by root-minus

Attachment 129387



secured

closed 1.56720

Attachment 129402





wedge breakout establishes a demand area


prices return to test that precise area, secured scalp

GBP/USD trading straight down and EUR/USD pushing higher. I thought we would trade a bit higher in the GBP/USD before reversing. Anyone managed to take advantage of the drop?

GBP/USD May 25 - 2012


It’s all about going short the GBP/USD

The swift decline this morning is however making things a bit complicated. I was expecting price to reach the 1.5725 area before traders would go short - instead we stalled out close to 1.5690 and given the fact that the EUR/USD is trading close to where we expect it to reverse - 1.5690 might have been the best level to go short.

I therefore think traders will look at two scenarios today - the first one is going short close to 1.5990 and having the stop loss just above. Some traders will wait and look for a breakout above 1.5990 which till take price close to 1.5725 - they will look for a reversal in this area - go short and place their stop loss just above 1.5740. The later scenario is the one with less risk.


If you have any questions about this scenario or anything else trading related feel free to write to me here on the forum.


GBP/USD 60 min chart


Click here to view a recording which introduces you to my trading system


Feel free to join me today at 10:30 GMT (11:30 UK time) for a free FX, stock and commodity market webinar at www.dailyfx.com/bvb

Send an e-mail to azambrano@fxcm.com to sign up to my distribution list (3 emails per day).


Market Strategist | DailyFX London
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


*Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join today.