GBP/JPY made a sharp impulsive move this week which has certainly helped our bullish cable set-up and our next target is around 1.38/1.39. We are currently consolidating quietly near recent highs at 1.3275 and I expect support levels to be very solid now in the 1.3030/1.3130 window. Macro hedges are tending to be short GBP

I’ve been unusually patient with this trade and I still am sticking with my core long cable position and looking to add when momentum turns bullish. Must say I haven’t been overly flash hot on the latter part of the strategy but we live in hope. I still suspect that there are some serious short

Some excellent intraday opportunities in this pair and it looks to me as if an interim base has formed above 1.60 and we should see a test of 1.75 before Christmas. No big fundamental changes here, just usual market swings and roundabouts. Buy into intraday dips looking for 200 pip profits; rinse and

I’m expecting volatility to increase significantly in coming weeks as the US election date nears. All of the no-deal Brexit headlines will have encouraged plenty of fresh cable shorts and these will start to get worried if recent highs near 1.35 come into focus again. I will stay core long cable in the hope that

Core long all these instruments and looking for opportunities to add when conditions are right. Cable is still my favourite play and I believe we are base-forming above 1.2750 for a move towards 1.40+ in coming weeks. As always, beware the noise as in cable it’s usually at least 200 pips! I believe that we

I’ve been watching pairs like EUR/AUD and GBP/NZD pretty closely over the last few weeks and both pairs are suggesting to me that they are trying to form a base for a healthy rebound. I have some fairly aggressive targets in 1.75 and 2.10 respectively (from current levels near 1.64 and 1.9650). The economic stand-off

This started off as a bit of a test case but it’s starting to gather some momentum. Two of the more promising young traders, 1 medium term trend trader and 1 intraday trader, have been trading my strategies exclusively for the last 2 months on dedicated accounts. The day trader can often trade up to

Got a bit lucky in picking the bottom near 1.2750 and now that we are playing with bank money, we can afford to take on somewhat bigger risk. I expect GBP to outperform the other majors in coming weeks with the other ‘sterling’ instrument, Silver, also likely to outperform significantly. On the crosses I still

I’ve been dipping my toes back in the long-GBP market for the last few days and I feel that the upside pressure is about to intensify. Some of the crosses, particularly GBP/AUD and GBP/NZD, showed me that they are trying to base and I am expecting a strong move higher into the mid 1.30’s in

Lots of Brexit headlines this week have knocked the pound off its perch but I am going to stick to my guns and look for attractive levels to re-enter my long cable play. It’s Friday, and there will no doubt be plenty more Brexit headlines in the UK weekend papers, so I prefer to wait

The 2 big drivers in the FX market over the last few weeks have been the semi-official Japanese buyers of AUD bonds driving AUD/JPY higher, and the reserve managers buying of EUR/USD after the EU bail out announcements. My targets have been reached in Cable @1.32 and AUD/USD @ .72 and I now feel that

Back in the good old days, if silver made 10% gains then the GBP would follow suit but the times they have a changed! The pound has been lagging the other majors (bar the JPY which is on strike!), and it’s close to major support levels against the EUR and the AUD. I’m in the

The signs from the crosses such as GBP/AUD and EUR/GBP are bullish for the pound and I am starting to ramp up my cable position. This is always the most dangerous time when it comes to position building, as if I get the timing wrong then it’s easy to get stopped out. I have started

I’m long cable and 100 pips out of the money. Not an unusual occurrence by any means as in my experience this is one pair which tends to overshoot expected levels by significant amounts. But, my confidence levels are receding as I’ve watched and seen the pound continue to slip against the EUR, JPY and

For once in my life I’ve been patient and cable has pulled back to what I consider to be ‘good value’ levels. The pound has also some decent support levels nearby on the crosses with EUR/GBP resistance at .9050 and GBP/AUD support at 1.8050. I’m hoping that 1.2350/1.2400 should start to build a base and

My overall big-picture view remains the same. The USD will weaken and I’m looking for good medium-term entry levels back into long AUD/USD and long cable positions. My shorter-term view is a bit different and I expect some noisy sideways markets just like we have seen in the last week or so. We’ve just seen

AUD/JPY has fallen off faster than I had anticipated which has given me my hoped-for dip in AUD/USD and cable. It’s Friday and Wall Street had another shocker overnight, which means that the risk off plays will be front and centre. I’m not exactly sure how far we can go but I hope to start

I have been probing AUD/JPY shorts since yesterday as the recent move higher felt overdone. That said, I’m only jumping in and out for quick wins and keeping my ammunition dry for further cable and AUD/USD longs. Cable is still my preferred play and I’m hoping to get back on the long trade somewhere on