ridethepig

ridethepig | Sterling Market Commentary 2019.11.18

Short
FX:GBPUSD   British Pound / U.S. Dollar
As widely anticipated over the weekend Conservative lead widening and reflecting in Cable strength. The 1.292x - 1.282x remains of interest to me, here expecting 1.30 to hold ahead of elections as momentum in Pound looks apathetic at best.

The "People vs Establishment" narrative continues to pick up steam:


This sadly is a necessary component in the collapse of the British Empire, a ruthless Downing Street in the driving seat. For those tracking the previous long term charts in Cable:


While those tracking EURGBP will also remember the infamous 0.853 floor, this remains intact and will drive forward another constructive round of demand:


Best of luck all those trading the inside swings here on both sides, not particularly impressive price action expected with little in the economic calendar this week.

Thanks for keeping the likes and comments coming.

Highlights of the move so far and a serious contender for "Chart of the Year"

Comment: 1.295 managed to hold for the London session, would like to see a follow through here of USD selling to kick-start the week.
Comment: All eyes on 1.292x for the London close today
Comment: Bulls managed to barely hold on at the end, tracking the open in Cable.
Trade closed: target reached: 1.282x right on time to kill the week off... well done all those who caught it!!!

Comments

I got it on Friday, thank you!
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So you think it is likely we will see a drop to 1.282X ?
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ridethepig alexharveyuk
+1 Reply
Can you still afford to trade GBP?
Reply
ridethepig speedracer1234
Reply
Hi Mate, Interesting. Nice :)
Reply
ridethepig MANOLIS
Thanks @MANOLIS refreshing to see you here
Reply
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