GBP/USD outlook
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Thread: GBP/USD outlook

  1. #1
    I'm starting this journal so that I could share my weekly and sometimes daily prognosis for the GBP/USD pair without cluttering the thread along with my thoughts
    I can post my first chart later.

  2. #2
    This sluggish bearish PA reminds me quite of the very best shaped in mid 2010 or so. A great bowl which I shorted for approximately a month. For some reason I shorted the spikes as they occurred while I wait for the daily close. Maybe I'm getting old or something

  3. #3
    Hi ill-b-back,

    I cant get enough of cable,so looking forward to your perspective .

    I agree I think we shouldnt be surprized to visit 15980 place this week.
    The problem at the moment is this new greece fiasco,its not going away.that could be the trigger for a bigger drop.

    good fortunes


  4. #4
    The buying pressure began in November or so last year and momentum attained above 1.6 hints to me we're in a retracement and headed higher in the near future, prob next month. The very sluggish bearish PA out of 63 reinforces my opinion. We dropped 150 pips at the very first week and about 90 pips a week. 1.6 appears to be on the cards, then 5950 (supposing we move lower this week).
    We've closed round the low of this week and below last months low, so anticipate further down pressure this week.

  5. #5
    My current thoughts, work in progress.
    I was viewing PA and higher timeframes channels I have a channel connecting the previous two monthly swing lows because the GFC, so it maybe a triple Channel or something like this (my TF's just visit Monthly),
    so I suspect this maybe a monthly Channel we're in that is still forming. But I am speculating. There's now a perfect descending 4 hr station
    shaped (thanks to this news spike) out of 63 and this last weeks close under the low of last week tips we've got more to drop. I'm watching 59 and 6000 however 59 resembles a reaction point previously for bulls and bears. It is quite bullish and I'm a very long way from dropping my bullish view and I have not seen pressure, only a shirt at 63 until we continue up out of service but I won't be getting nervous if this TL goes. I put on a fib fan from this years low, and we're contained by the 38.2 fan, so when that one goes, ill watch the 50 along with PA.. I really do have a feeling well get to 59 the 38.2 fib but it's only an idea and sounds a logical fib point. I think it will be a tough nut to crack when we get there.
    I'll also be watching the 50 fib in 5768.

  6. #6
    Quote Originally Posted by ;
    hi ill-b-back,

    I cant get enough of cable,so excited about your perspective .

    I agree I think we shouldnt be surprized to see 15980 area this week.
    The problem right now is this new greece fiasco,its not likely away.that could be the cause for a larger fall.

    Good fortunes

    Hi Diceman, things are mad at Europe and it should have prob collapsed some time ago. I believe they will keep printing and this will give them time (but will not assist in the long run). I believe the USD is about the exit, so I figure I am a bull before the market tells me differently. Cheers.

  7. #7
    A tricky place to trade I think I will leave cable now and find out where she closes look for you. I'm off to the members lounge

  8. #8
    This is why I do not frequently day trade beyond my system lol

  9. #9
    To escape the 1 voice that I will stay here for a while. Well, cable continues to be acting strange this past year and I believe that the money printing and rescue of Europe has to do on this. Is Europe way too significant to the market to let it collapse? It might well be. This implies more funny money (lots more) and the end of the USD book. The Pound was plucked from oblivion at the end of last year and it seems it is now hot property. Olympics prob adding to the. My system has become somewhat unpredictable, which is very unusual and was in a disarray this month. Anyway, I maintain a bullish perspective and screw the USD until told otherwise by the market.

  10. #10
    I Wouldn't be surprised to Achieve 6150 - plunge to 60

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