motleifaul
Long

Overall USD strength - one exception only

FX:GBPUSD   British Pound/U.S. Dollar
162 6 1
It looks like the Cable is moving against the overall new trend of the USD.
Or does this mean that the recent USD upmove against most currencies is not the beginning of a trend?
Anyway, Cable has stopped its fall at the bottom of the pitchfork and may now start aother rise to the median line .
Currently the pound is stronger than the US dollar, perhaps even stronger than the franc (it's not clear yet). So the cable may indeed go up, but: 1) it's facing three levels of resistance off the recent highs; 2) it's expended a lot of energy and may want to recede. Overall: I don't know. :-)
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I am taking out half of the position with profit. Nevertheless, the trend is up. Let's see.
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ForceFollower motleifaul
Hi motleifaul. What do you think now? Still looking bullish for me...
By the way, have a happy new year!
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motleifaul ForceFollower
Thank you very much and same to you. Good health, friends, love and success!
Yes, it still looks bullish. No matter what the USD ist doing GBP goes up. I took some profit but I'm holding the other half position. I can't see any sign of weakness at moment.
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ForceFollower motleifaul
Right, quite the same with me, the pound is the strongest vegetable in the FX garden now. :-)
I've seen you posted many charts on stocks. I'm sorry, I don't trade stocks, just currencies, so I don't comment on them. But of course, I'll keep following your fx ideas.
Have a relaxing New Year's Eve!
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Alles hat ein Ende, nur die Wurst hat zwei.
I am taking the remaining profit now. I am very happy with the deal as a whole but now the Pound fell below the channel.
I'm refusing to see this as agood sign. :-)
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