GBP/USD is clearly trading lower and I see no value going long right now - instead I prefer being short as long as we trade under 1.5625 - aiming for 1.55.
If you have any questions about this scenario or anything else trading related feel free to write to me here on the forum.
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.
GBP/USD 60 min chart
Click here to view a recording which introduces you to my trading system
*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.
GBP/USD is clearly trading lower and I see no value going long right now - instead I prefer being short as long as we trade under 1.5625 - aiming for 1.55.
5525-28 comes in as a good supp....... if this fails should be heading lower as next best supp at around 5315..
GL..
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
not sure where this chart goes, but we have some support kicking in, which could keep pressure on the GBPUSD compared to EURUSD. a break under on the monthly prob will head towards the 200MA lower.
daily we maybe, just maybe have enough resis that kicked in to bring price lower with the test of the 38.2 retrace. a break lower with what looks like another bear flag in the making?
CD Wave Theory - Keeping it Simple With One ? Only. Which Step is Market Doing?
Originally Posted by jogold18
not sure where this chart goes, but we have some support kicking in, which could keep pressure on the GBPUSD compared to EURUSD. a break under on the monthly prob will head towards the 200MA lower.
daily we maybe, just maybe have enough resis that kicked in to bring price lower with the test of the 38.2 retrace. a break lower with what looks like another bear flag in the making?
Hi Jogold and other traders
GU is still a big fat bear the trade I suggested last week is going very well The 200 SMA held and Cable will and must be below 1.5267 there in absolutely no chance of it going back above the 1.5700 before is take out the recent low down by 1.5267. I expecting the pair to test the 1.5000 before we get a decent lift. This pair will be declining very fast so don't waste time to hop in. Here are the updated charts.
Supreme Court strikes down the whole health care law. May see a small rally in US markets. If they let it stand, bears still in control. If they just strike down the mandate. Not sure what will happen.
5525-28 comes in as a good supp....... if this fails should be heading lower as next best supp at around 5315..
GL..
Hello Stryker I have not seen you for a while - good to have you back. Yes 1.53 looks interesting for long term traders - I would however rather trade the EUR/USD for long term as the trend is rather flat since H2 2010 - GBP is getting support from money moving from the Euro zone to UK
London session review and outlook June 25 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.
Regards
Alejandro Zambrano
Currency Strategist | DailyFX Forum (London) azambrano@fxcm.com
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.
hi all, i am very new to forex from australia, this is my second month in trading. last month i made a lot of losses, lost hope, bt then somehow managed to started learning with the help of ondemand video courses, live classroom and especially with the posting of you guys. this month i am trading only GBPUSD, somehow managed to minimize the loss. i will usually read whatever you guys are posting in this forum, those postings only give me a fair idea of what to do. thanks a lot guys, u really rocks. plz plz keep posting for those like me.
i am keen to learn more and to post the chart , bt i guess for that i should go a very long way. hope i will also become good trader like u all oneday. wish me good luck guys
Last edited by shooting star; 06-26-2012 at 02:51 AM.
GBP/USD still trades under its 1.5630 high and I expect this morning's run up to be temporary given the overall downtrend. GBP/USD tends to trade aggressively and trends to retrace most of its moves - I assume traders will therefore not place stop loss orders at the actual high rather just above 1.5650.
If one is looking to short either the Euro or Pound sterling then the Euro is preferred due the fairly strong EUR/GBP down trend.
If you have any questions about this scenario or anything else trading related feel free to write to me here on the forum.
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.
GBP/USD 60 min chart
Click here to view a recording which introduces you to my trading system
*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.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Posting Permissions 
Originally Posted by Alejandro Zambrano 
I have not seen you for a while - good to have you back. Yes 1.53 looks interesting for long term traders - I would however rather trade the EUR/USD for long term as the trend is rather flat since H2 2010 - GBP is getting support from money moving from the Euro zone to UK
hi to everyone
