Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by Christine

It hit 1.51285, now at 1.50718, will it go back up before the downtrend? thanks!

1.516 now
Honney. it is impossible to know for every pips inside every minute.
But in generaly - here is near top. Have to be limited below 1.52.
Wait - be ready on reversal now

Originally Posted by BH-Eurofighter

1.516 now
Honney. it is impossible to know for every pips inside every minute.
But in generaly - here is near top. Have to be limited below 1.52.
Wait - be ready on reversal now

1.526 now....... more than 760 pips in the last 24 hours...... before the rate cut decision..... Strange, at least for me.

Thanks Bojan. It's strange, I have heard that now, often rate cuts strengthen a currency as it is seen as positive for the economy, due to the current economic "crisis". Who knows! The darn thing just doesn't want to go down very quickly :-)

could kick myself, was in sell at 1.52817 (thanks to Bojan) and I kept moving my stop down as I only had one minilot and when it popped up again I was stopped out.

gbpusd is very hard to trade with tight stop losses - those days.
In any case now is very good level to monitoring for
possible reSELL. At 1.5230 now.
But have to be carefull. gbpusd is wild.

It is very good oportunity to going short MIDTERM TRADE now because market
takes most of stop losses and is ready to going down. Wait first on
one or two red candles on H1 candlestick chart - and than small lot size sell.
It is expecting some consolidation activity before down

p.s. look on D1 chart and you will see logic of this sell. You will see also
possible time frame of this sell order and possible range. On D1 chart you can see that this is
now only midterm consolidation of further down trend.

Originally Posted by BH-Eurofighter

gbpusd is very hard to trade with tight stop losses - those days.
In any case now is very good level to monitoring for
possible reSELL. At 1.5230 now.
But have to be carefull. gbpusd is wild.

It is very good oportunity to going short MIDTERM TRADE now because market
takes most of stop losses and is ready to going down.

I think we will see more room up before any major downside

1.55 to 1.61 is possible from 4hr charts, 4hr charts leave a lot of room for moves also in both directions but we will head up

would it be crazy to place sell order and set stop loss to 1.52817 and stop looking at it????

Depend on money and lot sizes and nerves you have

With proper small lot size on enough big account with stop loss
1.5850 and target profit at 1.415 - This is the way how
professional institutional traders (big private hedge funds and finantial
private organisations of reach private investors) trade now in this moment

p.s. with 1.528 stop we need some lucky also. Risk profit is OK but we need lucky
too If you want to trade with tight stops eurusd is maybe better to trade.

Originally Posted by Christine

would it be crazy to place sell order and set stop loss to 1.52817 and stop looking at it????

that would depend on your own personal MM risks and rules

Originally Posted by CodyB

I think we will see more room up before any major downside

1.55 to 1.61 is possible from 4hr charts, 4hr charts leave a lot of room for moves also in both directions but we will head up

No. I think we wont see this. This isnt logical.
Everything is possible of course, from 4H chart seems so yes, but
there are other more importan indicators.

Originally Posted by BH-Eurofighter

Sorry. I trade only eurusd those day. I close last position on
gbpusd at yesterdays bottom. But it is the same.
If I would trade this I could make hedging from 1.502 to the up or
close shorts and make long now until below 1.52. But than
I coul reshort everything again. On smaller accounts. On bigger
account with long term trading I could hold short non stop until
short midtermtargets 1.41 (minimum). Many of people are monitoring
my tradings so for their nerves is better to trade only
eurusd until rate decision In any case my forecasts on gbpusd
are reliable. Nothing is change until now. DOWN midterm direction.



Hope you traded eurusd also with me?!

dear...u wont believe how naive r my late trades today..

Originally Posted by BH-Eurofighter

jap. We book 140 pips profit inside this trade today (on facebook).
Hope you trade this also.

I confirm you on facebook and now you can see our tradings in real time inside each day.

what is my naive trades...?
bought gbp @15020 break, closed 15110 BCOS
want trade eur..but i cant access facebook & didnt see
u close the trade (when i just got in, hahaha)..so made 50pips & run
but i MISSED the big shot up of gbp to 15280 ler..sigh

now i manage to access facebook..but i cant see the date/time of
yr post..hmmm....(OOPS NOW CAN SEE, hehe)

p.s i agreed the m/t short gbp call..my chart also call the same thg.
besides, still hv rate cut pressure a bit tmrw anyway

Originally Posted by ALF

1.526 now....... more than 760 pips in the last 24 hours...... before the rate cut decision..... Strange, at least for me.

This doesn't seem strange to me at all. In three-plus years of trading I have seen huge moves in the days before a supposed "critical" announcement (of whatever), only to have the critical announcement itself generate almost no movement in the instrument. This is because the news doesn't drive the market... traders drive the market. Traders can act anytime they like, and do anything they like.

I have taken profit on 1/3 of this position and moved stops to break-even. Updated chart is below showing the entry (green line) and progression of stops.

Originally Posted by BH-Eurofighter

No. I think we wont see this. This isnt logical.
Everything is possible of course, from 4H chart seems so yes, but
there are other more importan indicators.

time will tell