Re. Long Sterling order to buy GBPUSD @ 50% @ 1.2515 and 50% @ at 1.2465. These were both triggered, giving us an average rate of 1.24875. In light of the rising trend line, nearby at 1.2480, which ties in with the 200 HMA, it might now be wise to raise the SL to 1.2470 on 100% of… Read More »
Trade Parameters: While the 4 hour charts hint at further short term weakness, the dailies remain constructive, so leaving some room on the downside to buy a dip does appear to be the plan. The 100 DMA and Daily Cloud base, both currently at around 1.2485 but falling fast (chart below), the rising daily Tenkan (1.2465) and the… Read More »
GBPUSD: 1.2595 Resistance Support 1.2820 (61.8% of 1.3445/1.1821) 1.2500 Minor 1.2770 Minor 1.2450 Minor 1.2700 55 WMA 1.2425 100 HMA 1.2670 Minor 1.2400 (23.6% of 1821/1.2556) 1.2640 Minor 1.2300 Rising trend support Bias Sterling outperformed again on Friday, by heading up to 1.2673 as shorts were covered, before giving up some of the gains to […]