GBP crosses/Trade Ideas

Cable trade: Interim profit booked now wait and see

The double-bottom here has worked nicely and I’ve sold 1/2 my position at 1.5315 for a 135 pip gain and now can afford to sit back and see what develops. No doubt the market will start chasing its tail and start getting bullish but I think we will get plenty of opportunities here broadly between 1.52/1.55; let’s hope so.

  1. morning Sean.
    cable did a nice job so far. there will be lots of volatility towards end of the week with BOE interest rates and also NFP. No so comfortable trading with just these numbers alone and makes me feel like im gambling.Any good numbers and it goes straight up and vice versa. Cable did stop at 61.8 retracement, just like Jasper mentioned. I think if it were to go up then it will need to be supported by bad NFP and will test 1.56. Till then this will go sideways for a few sessions imho.

  2. Sean, i took short EUR/GBP 0.8550 with stops above .86 yesterday, do you still favor for cross rates to fall below 0.85? thanks

  3. Hi Dok, yeah the GBP looks like it could surprise some people? EUR/GBP looks like it could go back to 8430 so I definitely prefer the short tarde like yu have near 8550 with stop above 8600. Good risk reward imho

  4. Hi Sean, USD index has a positive correlation with US equity market recently. And Tuesday has been the most bullish day for US stocks by far this year. Makes me think maybe we’ll see some USD strength later today?

  5. Sean, awsome call a while back on GBP/NZD… Just have looked on it today… Just wow. Did not get on this train, but still kudos to you for great idea. I jave initiated tiny EUR/AUD short, will see how that will evolve over next week. Other than that catching some sun around Hawaii before going back to the dungeons of work. Cheers

  6. It was indeed a lovely formation, thankfully I caught the EUR/AUD which was more or less the same thing.
    Glad to see how the other half live 🙂

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