GBP crosses/Trade Ideas

Cable: Taking a bit of profit off the table

I’ve bought back my 1.6255 sales from yesterday at 1.6185 and will continue to play a broad 1.6160/1.6270 trading range whilst building a core short position.

  1. Hi Sean, yes – this is what I was talking about. It’s hard to find a perfect formation on fx market 🙂 I expect to see one more leg up (+100 pips) on european pairs (against USD) according to my wave counts. If we also see a weaker JPY that might help us to see GBP/JPY higher.

  2. Agree Jordan, at current levels I think EUR/JPY, GBP/JPY more likely to go up 100 pips than down. I don’t think much will happen during Asia but depending on the set-up there might be some good opportunities during early Europe for a quick trade

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