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
Trade active
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sl at Breakeven at 1.21605
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closing half for 70 pips
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if GU retests the red tl it just crossed i will try and add to longs,... still half running from 1.21605
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Gino
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I think with Carney staying, this could go further upward, yes?
jimmy_highwire
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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