Mutondi

GBPUSD Update. Pure Price Action

FX:GBPUSD   British Pound / U.S. Dollar
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My bias for GBPUSD remains the same.

I am looking at a Long term selling (RED Arrow) but these highs price is currently on seem inviting for a stop hunt.

If these highs are hunted and we get failure signs (Pins etc) we should get a medium retracement and continue upwards to trigger shorts that will complete our 2017 portfolio targets if they complete.

We have had a great time projecting GBP this year (See ideas below and GB10Y PA) and we are looking at a low volatility summer but I still believe that the interest rate market is leading the price action but what the BOE does will give us the direction for next year.

I'm one of those who still see the pound to expensive on a monthly perspective and I want to see it and 2016 lows end of this year, early next year when volatility picks up.

My charts require responsible trading and patience but I hope everyone sees that the market tends to favor investors that have a long term perspective.
Trade closed: target reached: First Sell Target Reached. Averaging in buys. Try to get an average price as close to 1.2820 as possible.
Trade active: Buys are moving. See next chart
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