GBP/USD prospect
hi guys i've bought a silly sized position in an unthought out attempt to cover my lossess from thoughtlessly copying some unknown trader earlier, i just want your opinions on whether you think GBP/USD will keep rising or whether you think its on its last legs as an up trend...
i've copied in my current poisition as an attachment (yellow lines are where i opened the positions and red is where my S/L is)
really appreciate your thoughts as my account literally hangs in the balance of this.
thanks!
ps date n time is 28/11/13 13.12pm and s/l rate is 1.63240
I have opened a trade on onetrade in favor of bulls. I think gbp/usd will cross 1.6300 before any major retracement.
In the short term i disagree, i think it will continue in a dovish behaviour at least until 1.62 approximately, but i think once at that point it will become bullish for the long run as Champ indicated since it has hit a historically important level (see attachment).
In the short term i think if there is a drawback it may still hit 1.63 but if there isnt one within the next few hours that likelihood will dimish until the market hits the mentioned level.
Gbp/Usd has already touched 1.6580, making a new 29-month high. I think it will go further upwards to touch major support zone of 1.6740 to 1.6750
Stick to your rules
Originally posted by uniquetraderI think it will go further upwards to touch major support zone of 1.6740 to 1.6750
I think the general agreement here is that GBP/USD will continue to be hawkish for some time, if Unique is right about the major support zone it means the trend will continue to at least late February because the linear average is estimated (as shown in image) to only reach 1.66 between the 7th and 20th of January (it could touch 1.67, but looking at the average it seems set for a while yet).
Happy New Year guys! Saw this on fxstreet and thought it'd be relevant to the thread.
:D the experts seem to agree with our thoughts so far (hehe its nice to have our thoughts supported by a news org)
Directionless in shortterm but looks like it will breakout in favor of downward trend. U.S fundamentals will also play important part in this breakout. If U.S fundamentals came weaker, pair will most probably continue to move in range.
The good or ill of a man lies within his own will. – Epictetus
Originally posted by 4nt5I think the general agreement here is that GBP/USD will continue to be hawkish for some time, if Unique is right about the major support zone it means the trend will continue to at least late February because the linear average is estimated (as shown in image) to only reach 1.66 between the 7th and 20th of January (it could touch 1.67, but looking at the average it seems set for a while yet).
I must disagree (as my last post demonstrated it is overbought) though still slightly bullish I agree with ironical that a bearish trend is approaching, this is supported by my own analysis as well (attachment) which indicates a bell shaped curve being formed.
I wouldn't say it is directionless yet since it is still corresponding to the ascending triangle, but it will peak soon. I'd presume by late January we'll begin to see a breakout (Time to sell!!!)
Yes. Gbp/Usd will most probably go down in coming months as not only technicals but also predicted fundamentals support strengthened Usd against Gbp.
My bad guys, it seems you were right about the instrument turning bearish. Its already the second time the currency has tried to breakout of the trend (as shown).
It seems the currency wont be reaching 1.66 as my earlier posts forecasted, I like the idea of the bell curve but what other methods do you guys use to forecast a currency prospect? Since its now obvious i need to use a different method :)
