FXWW News/GBP crosses/Trade Ideas

Cable: Still like buy-dips play whilst 1.6220 holds

Obviously the GBP bull trend is getting reasonably mature but on a long-term view it remains reasonably cheap against a number of the other majors and so I’m happy to stay in dip-buying mode.

It’s hard to see any clear value trades at current levels but cable support at 1.6210/25 has proven to be pretty solid so I like the buy-intraday-dip play with stops well below 1.6220. Some talk of bids near 1.6260/70 so lets see what happens at that level.

  1. Good day Sean.
    Nice call for EUR/AUD short at around 1.56. I shorted it at 1.5520 and thinking of taking profit at 1.4950 🙂
    I am also thinking of going long for GBP/AUD at 1.800. This pair has fallen more than 800 pips in last couple of days and I think 1.8025 should be the base to give another attempt towards 1.900 and higher. I also remember that you mentioned once about testing this pair 2.00 in not so distant future.
    It would be nice to hear your feedback on this pair Sean.
    TGIF 🙂

  2. Hi AKS, definitely worth a try imho. If hourly base starts to form then hop on with tight stops. Then can always add if it starts going your way? Hard to be 100% sure on levels so best watch, wait and probe

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