Thread: Discuss GBP/USD - H2 2012

Originally Posted by citytrader46

Long term on the daily it looks like it could even reach 16300

1.6300 would be great i went long at 1.5760 so that's 500 pips+ now that would be really nice!

Originally Posted by spgandau

I am not new to forex trading, but new to DailyFX forum. I am looking for ways to effectively trade over the medium to long term.
I look forward to seeing what information and ideas are shared here.

Hello spgandau! It is good to meet you. Welcome to the DailyFX Forum Trader Community. You will find a virtual cornucopia of trading methods, strategies and views. Even though you are new to the forum, please feel free to share your ideas, views and charts right away!

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Happy Pipping!

Greg McLeod
DailyFX Forum Moderator

London session review and outlook August 23 - 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)

Cable trading Near Top of Channel and Major Fib- Hey "Cablers" what is your take on GBP/USD at the top of a rising channel and the 0.618 Fibonacci resistance zone based on swing down from the 1.6300 April 30th high to the 1.5269 June 1st low.

Does Cable move up from here or drop?

Already have 2 small shorts , not getting into anything else this side of the weekend, gdp readings tomorrow , could be end of week profit taking also....too much uncertainty, long bank holiday weekend in the UK ..I do though have a decent size short order at 1.60 ... against 1.61 which I hope to be holding long term, targetting sub 1.55 , possibly lower depending on market conditions as we near the November circus in the USA.

I usualy try and only have 3-4 trades running. I also have a euro short $ against 1.27... long term and maybe add on news between now and then , but only higher...

£1.5905 was my target from the Juy low $...and can easily see 1.60 if things calm down in Europe... but there is the biggest hurdle... and of course risk appetite. S&P + all the other indices are nearing the pre crash zone... and I don't see much has changed in the last 2 years and I am expecting volatility... therefore into dollars we go

Guide/Key to interpret The charts http://forexforums.dailyfx.com/attac...alyzer-pre.pdf

if GU hits 1.5820, i will go short to 1.5795

Mmhh, I'm still bullish 1.587.
I don't like to see the pair move under 1.585

Still believe we are bullish as long as we trade above 1.576
What do you think

Originally Posted by Bart3s

Mmhh, I'm still bullish 1.587.
I don't like to see the pair move under 1.585

Still believe we are bullish as long as we trade above 1.576
What do you think

long term yes i guess it's bullish. but my trade plan is not long term hence why i dont know and to be honest i can't predict

IMO now cable it's the most unpredictable currency hence I'm sideline

Originally Posted by Bart3s

Mmhh, I'm still bullish 1.587.
I don't like to see the pair move under 1.585

Still believe we are bullish as long as we trade above 1.576
What do you think

Morning Bart3s
I see this pair at the top of a daily channel and would prefer to sell at 15850 but like you agree its still bullish if we trade above 15750 I will be looking to sell today maybe scalp it on its pullback

Morning Everyone,

Hope you are all well?

Started little late this morning (Bordeaux Red is moorish) Gone in at 1.2539 to come out at 1.2590...dont think 1.26 will break today then followed by downturn i think as profits come out later this afternoon.

Struggling to find decent entry on GBPUSD so may give it a miss till later...

Gone in EURJPY 98.52 to leave 99.10....

My conundrum this morning is the AUDUSD and USDJPY....any thoughts or opinions would be lovely?

GL

Moved stops and added short at 1.5869... BOE member hinting at rate cut rather than QE , when Merv the swerve (BOE) says the other week he favours leaving rates which spiked my really good short position....

At the moment the market is digesting the data... bounced of the lows and offered me a chance to get further short before they realise, the news could have been worse.. but is actualy very bad

Market seems to have reacted positively so options both ways....

From a bullish perspective, at least now it has had a fib retracement since the rise from 20th August.. procede with caution

Price is correcting against the bullish trend and I expect that this will continue as long as we trade under 1.5880 and that price reaches 1.58 which is a 50% retracement of the last few days bullish rally. A breakout above 1.5880 would mean a resumption of the bullish trend and we can expect that price reaches 1.5930 which is today's R2 level of the pivot point indicator if this happens.

GBP/USD 30 min time frame