GBPUSD, NFP & BoE Rate Cut - 6th Aug 2016

FX:GBPUSD   British Pound / U.S. Dollar
Happy weekend traders!

Sterling slump after BOE easing monetary measures which sent the market down more than 200 pips followed by some positive job numbers yesterday with NFP adding fuel to the fire.

Technical see resistance level at 1.3050-60 zone where as long as market holding below this zone more drop will be expected toward 1.2900 levels

Above 1.3210 market may obtain bigger rebound correction where resistance at 1.3280 and 1.3370

See related $DXY idea.


Trade active
Comment: As planned so far guys well played
Comment: Keep going you beauty
Comment: 18 lots total
Comment: almost there now
Trade closed: target reached
Current thoughts about GBPUSD?
sidelined, hit tp at 1.22 (believe there is a more recent chart of this I uploaded some time ago), don't see it going below 1.20 anytime soon though the road back north is going to be a slow process
tududu TheBanker
Thanks! Longing 1.216, target 1.28, tight stop in case we have yet another leg down or more stop-runs.
good for you. :) simple and nice.
any chances for a short term long for GU chief?
was not able to enter for this. Hopefully next time around, will not miss your Ideas. God bless
Hey Bernanke, I am waiting bouncing back, now.
+1 Reply
TheBanker geniustrading
Thanks Yellen
when did you enter your short ?
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