Neon

GBPUSD LT Bearish Trend June 2016

FX_IDC:GBPUSD   British Pound / U.S. Dollar
151 5 3
Trend is down
very interesting chart, well done. For the next few days before the referendum, which is your prediction, we are shorting to where? thank you, Harry
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Neon harilaos
I have been short GBP since 1.55. Remember, UK is a double deficit country, so currency is at the mercy of foreigners that invest based on expectations of asset inflation/house inflation. So GBP is vulnerable to change in these flows. If referendum is to stay, then I would expect GBP to move up in a corrective fashion for few months before a new down. If it is to leave, then watch out way below. Either way, MT direction is down, question is whether it stops at 1.25 or much lower
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Hello, thank for your answer. Knowing the `British quit well, I presume they will prefer to express their uniqueness and Brexit. Anyway, I trade them now because of the referendum and the opportunities involved. Do you think as an expert in the GBP that a target of 1.38-37 before the referendum is realistic or far fetched? thank you in advance, Harry
Reply
Neon harilaos
I expect to be <1.40
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kind regards
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