This one also coming against multi year resistance on weekly bases, although it has tried to break it but Pound is expected to be a bit week going forward so I think this will come down to 16900 area and there I will see at what level the gbpusd trading!
Comments
Timtham
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Note that this is based on a comment from the Aus reserve bank boss about getting the AUD down... suggest you keep abreast of aussie news which affects the AUD severely...
kamukak
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Don't worry I am very aware of markets news and gossips, I trade for living and sometimes I do get them wrong. `its all part of the game!
kamukak
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Seems like its going to 1.80 level
kamukak
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Now this has gone to 1.80 level, lets see if it hit 182-183 level before a strong reversal!
kamukak
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This setup was promising but I am taking losses on it, This could be going a lot higher so not trading it either side.
alex.a
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For it to be done, AUD must get stronger or GBP must get weaker. The circumstances now - Dollar will get stronger so GBP will get weaker but GBP has been one of the strongest - Season's greeting is here ~ The peak business time of the year - The reason why GBP has to get weaker? Hummm.
kamukak
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Give it some time it will behave, I don't trade for 40-50 pips, I aim for 400-500 pips and for that matter i can keep my stop loss wide and I still need to correct half of the time. But your reasoning is correct and this trade easily could go wrong.
kamukak
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Taken a small short here 17355 with stop loss above 17475