FXWW News/GBP crosses/Trade Ideas

Long GBP still my preferred play

I see no reason at the moment to get off the GBP bull train and any dips are buying opportunities in my very biased view.

  • EUR/GBP: I know this pair is very slow to trade and getting timing right is vital in the short-term but I still think its worth being short for a 10% move lower in the coming months. I can’t recommend day-trading this pair as its too slow, but leaving ‘sell-rally’ orders is a sensible play I think;
  • GBP/JPY: This is one pair which has massive topside potential in the longer-run. Sure it could dip 300/500 pips in a couple of sessions and care is especially warranted given how volatile this pair can be but the patient long-term position builder could be in for a big bonanza here;
  • Cable: Obviously the easier pair to day-trade and I’d simply adopt a buy-dip strategy, session after session, and I think this will continue to reap rewards;
  • GBP/AUD: Might under-perform some of the other crosses in the shortish-term and I’d prefer to look elsewhere for my long GBP vehicle.

Very disappointingly quiet session today in Asia but tomorrow’s a new day!

  1. Hi sean.u were absolutely right. i had assumed the market had overreacted to dales comments and then despite dale brushing them off gbp styed very strong.although capped since that moment (his twitter q&a). but im still very hesitatnt to buy here. a dip towards 1.60 perhaps.

  2. Agree Rahul, patience definitely required and we could even see 15900 again if mkt suddenly finds some post-NFP momentum and everyone starts jumping on board whatever train is moving (as usual)

Leave a Reply

Your email address will not be published. Required fields are marked *