GBP crosses/Others/Technical Analysis/Trade Ideas

Plenty of action in crosses overnight

  • GBP was the main mover, losing ground across the board after disappointing economic data. I increased my long cable position near the 61.8% retracement level (see chart) but will reassess this strategy if 1.5100 breaks.
  • The USD/CAD market is watching a weekly trendline very closely (see chart) and there was a lot of activity reported overnight above 1.0300.
  • EUR/CHF has turned higher again and looks set to test the January highs at 1.2565.
  • Pretty quiet in most of the other majors.
  1. Morning Yue, I think this is a sensible short-term idea but honestly I have not been following the cross closely enough to have a good feel for the important s/t levels so not really able to advise

  2. Ok, Thank you, Sean! I’ll wait to find better opportunity tonight. I am very interested in this pair for its higher pip value. Doing the same ,can get the return of about 1.5 times. Certainly, if loss, also about 1.5 times, haha……

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