Login in

Remember me?

Register as a new user

GBP starting to settle now that result is becoming clear

Posted on - September 19, 2014 2:31 pm (Australia/Sydney) | 0 Comments
The 54:46 YouGov prediction from earlier today looks very likely to come true and the GBP has begun to settle down after a 150 pip run higher against most of the other majors. Will it be a case of ‘buy the rumour sell the fact’? Cable has butted its nose against 1.6520 on at least […]

Last YouGov prediction: 54% No, 46% Yes

Posted on - September 19, 2014 7:32 am (Australia/Sydney) | 0 Comments
Cable is back above 1.6400 as vote-counting commences.

GBP: No vote looking very very likely

Posted on - September 19, 2014 6:42 am (Australia/Sydney) | 0 Comments
The GBP has continued to recover over the last 12 hours and the No-to-independence vote looks certain to prevail. There are unlikely to be any major news developments for the next 5/6 hours (polls close shortly) but we can still expect the GBP to trade skittishly. Keep a close eye on the ticker tape. If […]

GBP: Was Betfair election pay-out just a marketing exercise

Posted on - September 18, 2014 5:27 pm (Australia/Sydney) | 0 Comments
There is some suggestion in the marketplace that the Betfair early pay-out on the Scottish independence referendum was done more out of marketing reasons than on any voting conviction. Pretty good piece of marketing if that was the case! GBP has rallied strongly especially against the EUR and JPY in recent sessions on the presumption […]

GBP: Best avoided today unless you are a professional GBP trader

Posted on - September 18, 2014 7:52 am (Australia/Sydney) | 1 Comment
The Scottish referendum voting booths will open in about 12 hours time and we can expect plenty of volatility in the GBP. My sense is that a No-to independence vote is pretty much built in and the market is happy to try buying GBP/USD at levels close to 1.60. This suggests that the market might […]

Poll rumours sending GBP all over place

Posted on - September 10, 2014 7:03 pm (Australia/Sydney) | 0 Comments
The latest rumours on Twitter are suggesting some sensational new poll results putting the pro-independence side at 54%. Stops getting triggered in EUR/GBP above .8040.

“It’s never too late to sell Sterling”

Posted on - September 8, 2014 7:15 pm (Australia/Sydney) | 6 Comments
Well so the old market adage goes. The pound continues to look very weak and susceptible to further falls and until we start seeing decent 100/150 pip bounces, there seems little point in trying to pick the bottom. Plus, if EUR/GBP breaks above .8050, we could see some of the bigger macro players start to […]

EUR/GBP: Buy short-term dips, sell medium-term rallies

Posted on - September 8, 2014 12:01 pm (Australia/Sydney) | 0 Comments
I also do not like uncertainty, just like most traders, and a Scottisk vote to leave the UK would certainly introduce a huge level of uncertainty into the value of the GBP on FX markets. We have 10 days to go before the vote and we are likely to see some large swings dependent on […]

EUR/GBP: Resistance levels near .8035 holding for now

Posted on - September 8, 2014 7:11 am (Australia/Sydney) | 3 Comments
There was a nasty gap lower in the cable on the interbank open, with first prices quoted below 1.6200 after a close on Friday at 1.6325. There will be some very nasty ‘slippage’ reports this morning, but some profit orders will get pleasant surprises. The next level to watch in EUR/GBP will be a series […]

GBP set for rocky Monday opening after latest Scottish polls

Posted on - September 7, 2014 8:57 am (Australia/Sydney) | 5 Comments
We can forget about Fibos and fundamentals tomorrow morning, it will be all about positioning after the latest surprising poll results on Scottish independence. Bloomberg is reporting the results of latest polls putting the “Yes” campaign for separation from Britain now at 51% . I’d expect to see some heavy stops in cable below 1.6250/70 […]

EUR/GBP: Shorts preferred for .7870 test

Posted on - September 5, 2014 8:28 am (Australia/Sydney) | 2 Comments
I prefer this pair in the short-term to others like EUR/CAD and EUR/AUD for the simple reason that cable has moved to some degree alongside the EUR/USD whilst AUD/USD and USD/CAD have moved slightly counter the main market trend. Hope that makes sense, but to an old cross trader like me, EUR/AUD and EUR/CAD feel […]

Cable: ‘Superstitious rot’ but it’s nearing an historical pivot level for me

Posted on - September 4, 2014 3:19 pm (Australia/Sydney) | 1 Comment
I’ve been trading cable for fast-approaching 30 years and there are some levels which stick in the mind as having been important pivots over these decades. Even on the way up in recent months, we had a stall and look for a few days, further intensifying my madness This level for me is 1.6410 and […]

EUR/GBP: Should offer good two-way trading opportunities

Posted on - September 3, 2014 8:07 am (Australia/Sydney) | 0 Comments
I haven’t been trading this pair actively enough to have a strong grasp of what the big levels are, but sentiment has certainly taken a turn over the last few days and both bulls/bears can make reasonably strong arguments; a perfect case for the FX trader. Most of the fundamentals are still weighed heavily in […]

Cable: Still long, looking to play 1.6570/1.6670 range pre-BOE

Posted on - September 2, 2014 8:12 am (Australia/Sydney) | 0 Comments
The going has been slow for the cable but I’m of the view that a base will form between 1.6570/1.6670 and that we may get further topside after the BOE later in the week. Short-term moves will be determined by where the stops are and there may be some now back below 1.6590. In order […]

Cable: Base confirmed; but 1.6670 should provide intraday resistance

Posted on - September 1, 2014 5:00 pm (Australia/Sydney) | 0 Comments
Nice bounce in the cable in early Europe and all of the recent price action suggests to me that a base is forming below 1.6600. I will look to book some intraday profits on any rallies towards 1.6665/70 and then re-load on dips from there.

Cable: Adding to longs, bullish break likely

Posted on - September 1, 2014 11:48 am (Australia/Sydney) | 0 Comments
I’ve been trading the cable range nicely for the last few days and I feel that we may be about to get a bullish break. The market has been dumping GBP longs against the USD in particular (but also against the CAD) but I feel we may be about to get a mini reversal. I’ve […]

Cable: Happy to stick with longs for now

Posted on - August 29, 2014 8:09 am (Australia/Sydney) | 1 Comment
I’ve been trading the short-term 1.6570/1.6610 range to good effect and I am still long in the hope of a base forming nearing current levels and the up-trend re-igniting. It’s unlikely that anything will happen during Asian trade and we can expect very quiet ranges until Europe opens. If we can close the week above […]

Cable: Still long, trading 1.6570/1.6610 s/t range

Posted on - August 28, 2014 2:03 pm (Australia/Sydney) | 0 Comments
I’m of the view that we may be trying to form a base near 1.6600 and return to the bull trend. I’ve been buying dips over the last two days but I’m still a bit worried, especially by reports from the EUR/GBP market. The market is undoubtedly still short of the cross and I’m hearing […]
1 2 3 ... Next