I have been monitoring this move for a while now. There is a possibility that we will try to test 1.30, as this psychological number is driving price further away.
I have included lag indicators to determine whether this long would have been invalid, however I have come together that 1.30 is still possible and is a safe approach. In terms of risk my newly risk management criteria sought an alleged 22% risk. I have moved my entry in case of high volume.
In terms of technicalities, price has proven that 1.30 cannot be met, the strong restrictions may indicate that GBP.USD is pegged which can drive prices as low as 1.25.
In terms of fundamentals, US rate hike is highly likely which gives the initiative for buyers of the dollar. With the Brexit deal around the corner, GBP will be upmost volatile. Indicating another downside to my approach.
Thanks.
TrendsAce
I have included lag indicators to determine whether this long would have been invalid, however I have come together that 1.30 is still possible and is a safe approach. In terms of risk my newly risk management criteria sought an alleged 22% risk. I have moved my entry in case of high volume.
In terms of technicalities, price has proven that 1.30 cannot be met, the strong restrictions may indicate that GBP.USD is pegged which can drive prices as low as 1.25.
In terms of fundamentals, US rate hike is highly likely which gives the initiative for buyers of the dollar. With the Brexit deal around the corner, GBP will be upmost volatile. Indicating another downside to my approach.
Thanks.
TrendsAce
Comment:
I have come to conclude that if price breaks resistance I will be closing my orders & completely re-structuring a new outlook.
Thank you once again !
TrendsAcee
Thank you once again !
TrendsAcee
Order cancelled:
I hate to be the bearer of bad news but this trade is no longer valid because of two reasons:
-Insufficient data for entry
-Data indicating early entry
Thank you once again !
I will be posting more on GBP.USD later throughout next year.
TrendsAcee
-Insufficient data for entry
-Data indicating early entry
Thank you once again !
I will be posting more on GBP.USD later throughout next year.
TrendsAcee
IF GBP falls again once more drastically like it did during the flash crash and conservative winning the first election news. Doesn't this necessarily mean that GBP is genuinely doomed. In terms of dropping to prices as low as 1.20 or even below all over again?
Another question, do you entirely think that the Bank of England would let that happen with the amount of government debt they hold upon the US & the strong relationship with China that have even more government debt piled up ? You be the decider !
Thanks once again.
Check out my twitter page for more insights !
Trendsacee