GBP crosses/Trade Ideas

Cable: Risk-reward favours buying intraday dips

The Yen crosses have had a reasonably strong session and with USD/JPY nearing a ‘sell-zone’ above 102.00, I’m thinking that pairs like EUR/USD and cable might be in for a modest spike?
I like the risk-reward associated with buying near 1.5070 with a stop below 1.5040, targeting 1.5210.

  1. Hello my friend,

    After two weeks off, I am back. I can recommend you the Canaries Islands for a break. That’s pretty beautiful. Anyway, you have done fortune during these weeks of my break : EUR/AUD (1.3400) + AUD/USD (0.96), well done. I am still long on USD/CHF.

  2. Welcome back Papillon, well rested no doubt. I’ve booked my profits on EUR/AUD and am now waiting for big dips to re-buy on. USD/CHF still looks very well bid to my biased eye, although I did book 1/2 my profit at 9710 last Friday morning after the Nikkei got smashed on Thursday afternoon. I think Swissy might trade 9500/9800 for next week or so.

  3. Hi Sean,

    Just heard of sovereign offers in good size at 1.2930, might cap intraday rallies as we have no EZ econ data today? Cheers

  4. It has a been a long time Sean, I remember your contribution on FL. I am glad to be part of this blog, thanks for all the informations.

  5. Hey Sean,

    EUR/AUD – would you expect this to drop down from 1.294 (current) anytime soon. It seems to hit there and drop off again and bounce, do you think this is a likely pattern? Just trying to figure out when a time would be to hop on and try and ride a dip?

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