FXWW News

BoE’s Bean says UK economy is over the worst

Cable is trading near session highs and the risk trades are all at intraday highs. Are we seeing the beginning of a big move or just another head-fake? I’m guessing it’s the latter.

  1. Sean,

    How did manage your AUD/USD trade ? If we break 1.0411, I guess you wouldn’t reverse your insight and you would look for another sell rally ?

  2. Still relatively small position so I’m still in wait and see mode. I think we are seeing some hedge funds making a desperate late play in Yen crosses, trying to save a poor year, but the mkt simply is lacking momentum and I think this effort will fail. Also I think that RBA is getting ready to act against AUD level (public comments by 2 board members in last few days), so overall still v comfortable selling rallies.

  3. Thanks for the reply. At the time being, I would have liked to be a desperate hedge funds with a open position at Y79.00 πŸ˜‰

  4. Agree Mika, I think its ridiculous. 2 RBA members came out publicly this week (something they seldom do) and spoke against the high value of the AUD. If they decide to use monetary policy more aggressively to fight the high A$ then it’ll be below 1.00 by end of next week (That’s my big call of the week πŸ™‚ )

  5. Hello Sean,
    Hope you will be able to board the bus soon.

    Vicky Redwood and BNP paribas of the opinion the whole of the !1% GDP growth down to special factors and olympics.

    Please post your trade idea, mine is to short from current levels and stop at 6215. can the stop be at 6185?

  6. Not too sure Hitesh but I think reasonable chance of success selling near here with stop at 16185 like you say. Bit risky of course but good risk reward imho. Think if 16185 goes then 16215 goes as well so take cheaper stop-loss and then look again

  7. Good morning, Sean! I think that the most acceptable point of sale of pound will be 1.6184, on the strategy from this point I will gather cable sales in medium-term prospect, I consider the purpose 1.5733 or about that but in case the price goes to my party, it is natural to look behind dynamics of movement of the price. How such idea Sean? Successful trade to you!

  8. Morning Serga. Sorry no strong views on GBP at moment, watching EUR/GBP support at 8015/20 and also watching GBP/JPY. That will giove us clues what to do in cable imho. Good luck out there++

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