FX_TraderUK

FX_TraderUK

The direction for the British Pound (often referred to as "GU" for GBP/USD in forex trading) is evidently leaning towards the downside. This trend seems to persist regardless of any statements or monetary policy decisions made by the Bank of England. Even if the central bank provides optimistic forecasts or positive economic outlooks, the market sentiment for the...

FX_TraderUK

From here, I see a serious downside for GU, Dollar will gain strength in my opinion over next month or so, Brexit issues as well as relaxed measures so far in the UK so far has resulted in lot's of death so there may be a national lockdown or at least local ones which will severely affect the economy. Additionally Furlough Scheme is due to end next month so this...

FX_TraderUK Updated 

GU tends to usually get excited during General Election or shortly after but within few days of it, it always goes South!

FX_TraderUK

GU will need to flush out some shorts before heading up

FX_TraderUK

Drop in Bitcoin was nothing to do with Goldman Sachs! Just normal part of trading crypto

FX_TraderUK

Long GU - It must go up before heading down. Possible reason for downside - November BoE could cut rates further and add to it's current QE. EU talks also start about Brexit towards end of 2016 so keep an eye on that.

FX_TraderUK

UC Long to 1.35

FX_TraderUK

Always make your trades risk free at 1st chance you get

FX_TraderUK

Brexit Vote & Fed's June Meeting. Possible scenario is Fed don't vote to hike rates and are dovish about June's meeting and Brexit Vote is to stay in EU.

FX_TraderUK

Short GU with SL of 1.4675. On the Daily Chart RSI is over sold on Stoch RSI this suggests a possible downside but the USDollar weakening due to Yens strength, it might weaken further but Japanese Finance Minister has already commented on 30th of April saying Yens strength is extremely worrying. I think traders see this as a caution and will now possibly start...

FX_TraderUK

Possible FOMC Meeting Situation - 27th April 2016

FX_TraderUK

GU - Short term Short and Long Term Long

FX_TraderUK

Short TP with target of 1.4188 and SL of 1.4430

FX_TraderUK

I'd wait till some more clarification before going long or short now on GU It should really go 1.4050 level before going up, I think the reason I didn't today because of the as expected update from BoE. Friday as we know is a profit taking day mostly so we could see possible downside on GU starting with Asia session followed by European session and then it should...

FX_TraderUK

Go Long on GU with target of 1.44 and then 1.45 USA Inflation will be under 2% for remainder of 2016 and there is no way Fed will hike rates because of this and for this reason it will be impossible for them to hike rates. Dollar appreciation also slows down world economy so it is in the best interest of USA to keep interest rates low or actually go back on the...

FX_TraderUK

Go Long on GU with 1st target of 1.4250 /and then 1.4430 Provided we cross above these we should then be be heading towards 1.4630 / 1.4775

FX_TraderUK

Scenario 2 not avoided yet, if we close above 1.4150 today then we should be on our way up starting tomorrow. Main Catalysts for this upward move could be tomorrow's data releases from the UK on it's retail sales being good and from USA if the data is poor for jobless claims. There is no other driver than these tomorrow as fear of Brexit took Cable today to...

FX_TraderUK

I'm now suggesting we go long on Cable. We are heading to 1.4670 level. Keep an eye out for Brexit related news and provided there isn't any strong support for Brexit on polls or any influential politician doesn't come out with supporting Brexit we should really be heading this way.