GBP/JPY made a sharp impulsive move this week which has certainly helped our bullish cable set-up and our next target is around 1.38/1.39. We are currently consolidating quietly near recent highs at 1.3275 and I expect support levels to be very solid now in the 1.3030/1.3130 window. Macro hedges are tending to be short GBP […]
I’ve been unusually patient with this trade and I still am sticking with my core long cable position and looking to add when momentum turns bullish. Must say I haven’t been overly flash hot on the latter part of the strategy but we live in hope. I still suspect that there are some serious short […]
Some excellent intraday opportunities in this pair and it looks to me as if an interim base has formed above 1.60 and we should see a test of 1.75 before Christmas. No big fundamental changes here, just usual market swings and roundabouts. Buy into intraday dips looking for 200 pip profits; rinse and repeat.
I’m expecting volatility to increase significantly in coming weeks as the US election date nears. All of the no-deal Brexit headlines will have encouraged plenty of fresh cable shorts and these will start to get worried if recent highs near 1.35 come into focus again. I will stay core long cable in the hope that […]