Comments on: GBP: Giving bulls like me quite a fright

By: Papillon

Papillon — Fri, 28 Jun 2013 06:30:41 +0000

I moved my S/L under 1.5150, let’s see what happen. Thanks Sean.

By: Sean Lee

Sean Lee — Fri, 28 Jun 2013 06:10:50 +0000

Hi Papillon, I suggest 15150/15400 cable with bullish bias still, don’t give up on it yet but we may see some extended range trading. Good luck

By: Papillon

Papillon — Fri, 28 Jun 2013 06:03:03 +0000

Good evening Sean,

Yesterday, it was pretty bearish on the cable and we are back in the range [.8475-.8600] on EUR/GBP. I guess and I hope, we could have this range for the next session on the cable [1.5200/1.5400] ? Otherwise, I will give up it under 1.5180, as you said : keep overall S/L amount in mind. Elsewhere, we have broken the resistance at 98.80 on USD/JPY (previous breakdown level of the uptrend). It could be interesting to play EUR/JPY for instance : buy at 128.45 S/L under 128.00 ??

http://img200.imageshack.us/img200/4770/s4z0.jpg

By: Yue

Yue — Thu, 27 Jun 2013 23:25:56 +0000

Cheers, Sean!

By: Sean Lee

Sean Lee — Thu, 27 Jun 2013 23:22:30 +0000

Nice Yue, very nice trading

By: Sean Lee

Sean Lee — Thu, 27 Jun 2013 23:15:12 +0000

Correct Jasper, plus I think EZ bank rules could see big move of cash out of EZ banking system and into GB? These are all macro factors but I also like the technical set-up in cable and levels on 152 handle seem ‘cheap’ to me, that’s why I try to build long position now

By: JasperD

JasperD — Thu, 27 Jun 2013 23:08:48 +0000

I see Sean, thanks. So you’re bullish GBP because UK has been taking steps to tackle its long term debt situation, right?

By: Yue

Yue — Thu, 27 Jun 2013 23:06:16 +0000

Ok, thank you, Sean! I’ll be careful in cable trade and keep holding small amount for medium term bullish trend. Yeah, I still hold GBPNZD at 2.0 and add 1/2 short position at 2.0020, this pair seems very interesting……Thanks a lot for your help! Otherwise I’ll close only for 100-150 pips, haha……how about change to long position near 1.9250?

By: Sean Lee

Sean Lee — Thu, 27 Jun 2013 23:05:01 +0000

Hi Jasper, there are trading times to be long USD when it gets oversold but from l/t fundamentals the USD is a basket case. Their economy can only grow by them creating huge amounts of debt, and they already have debt levels that they can never repay. The world has its head in the sand again, and understandably so as the alternative is very dire.

By: Sean Lee

Sean Lee — Thu, 27 Jun 2013 22:55:31 +0000

Hi Yue, looks to me like 15150/15400 volatile range? Be patient, if 15150 suppt looks loike holding then buy with fairly tight stop 40/50 pips imho. Always keep overall s/l amount in mind.
How’d you go with GBP/NZD, yu were short at 200 right?

By: JasperD

JasperD — Thu, 27 Jun 2013 22:51:52 +0000

Morning Sean! Fundamentally US economy seems to be doing better than UK, EU at the moment, and there’s all the talk about coming of “strong dollar era”. Could you let me know why you’re bearish USD in your great mind?

By: Yue

Yue — Thu, 27 Jun 2013 22:48:31 +0000

Good morning, Sean! I entered the trade average near 1.5280. How about double add the long position near 1.5183 and triple add the long position near 1.5150 (if reached)? I am looking for long cable trade for several weeks, hehe…..Thank you!