FX:GBPUSD   British Pound/U.S. Dollar
100 2 5
3 months ago
i can see some bottoming patterns on GU short and long term
we haven't made a significant new low for a while now
consecutive wedges have been overcome and PA keeps coming back to test them
barring another "surprise i base my long entries on a short term and longer term inverted HnS

again ,.. i'm not prepared to lose my acc             balance over this idea but sure looks valid to me, target red channel top around 1.2240-50 looking for further PA there
3 months ago
Trade active: sl at Breakeven at 1.21605
3 months ago
Comment: closing half for 70 pips
3 months ago
Comment: if GU retests the red tl it just crossed i will try and add to longs,... still half running from 1.21605
Gino
3 months ago
I think with Carney staying, this could go further upward, yes?
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jimmy_highwire Gino
3 months ago
i guess the "carney news" is the trigger of something that was coming anyway..... you can depreciate a currency to get exports up (cheaper),....; but after a while when inventories deplete,imports needed to replenish inventories come and bite you in the butt twice as hard,..... even so i think apple and some other tech already are raising prices in `£ on the iphone and other stuff
this fall of the pound could have left the door open maybe too wide for inflation not only to creep in but gush in at some point
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