coffeteaorme

GBPUSD Guess What Will Happen Next?

FX:GBPUSD   British Pound/U.S. Dollar
414 9 17
Any idea guys? :)
Rocketman PRO
2 months ago
There is some volume divergence, which supports a temporary bullish outlooks for Monday; however, I am still bullish the US dollar US since it is the only nation that wants to raise rates this year. I will keep an eye on Janet Yellen this week to see what her remarks shalll be that can suddenly turn the tides in a bearish favor once again in GBPUSD. Any news from her can prevent the market from penetrating that trendline down sloping trendline. Then, a move down to 1.2855 support. My ultimate yearly target is 1.26, but I give room for a potential fluctuation back up to 1.34 as a potential unmeasured risk to a bearish position on the trade. By temporary, a retracement back up to the trendline looks possible:
snapshot
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coffeteaorme Rocketman
2 months ago
Thank you for your view. :)
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BlueSkyThinking PRO Rocketman
2 months ago
Hi Rocketman, you can´t rely on FX Volume, have a look at the Volume of the Future 6B (GBP).
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Rocketman PRO BlueSkyThinking
2 months ago
I've checked, the volume and prices looks very similar, although not so perfect. Another problem is that the 6B (GBP) is delayed on TV for me. I know, everyone says that volume doesn't work in FX, but I think that the gurus that teach this (1) never looked themselves or (2) parroting and repeating what other people said. Here is further evidence that volume in FOREX actually does work:
snapshot
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banffstocker
2 months ago
Short to last support 1.28 ?
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coffeteaorme banffstocker
2 months ago
Probably?
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banffstocker
2 months ago
short to last support 1.28 ?
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waterman
2 months ago
it is going to fly in the air
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coffeteaorme waterman
2 months ago
Hope so :)
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