GBPUSD

Trendfriend wrote: Took a small short at 1.1996.
Stop just 150 pips. So 1.215

Let’s see...
Atb,
Trendfriend

Great Spot TF!

I'm also optimistic, but keep an eye on the dollar index (horrible one to trade - the margin sux!). Everytime it topped out it retreated.

Took a small short at 1.1996.
Stop just 150 pips. So 1.215

Let’s see...
Atb,
Trendfriend

1.20 was strong support that should now strong resistance....i honestly do not think this get back above that level for a looooong time...
not until we see the back of the bear market....

atb
trendfriend

remo wrote: The problem with a weak pound is that businesses will end up paying way more than there used to for products and then will pass on the cost to public.
Weak pound is really bad for our economy .
It’s great for exporting but importing it’s really bad..
It’s good if you have income that’s in dollars from selling abroad in dollars currently...
But overalll it’s really bad for us Brits as we get poorer .
Imagine if you were to go on holiday and you get far fewer dollars for your pound which makes every thing more costly...

I agree broadly with your view Remo. I grew up beleiving that a nation's currency should be strong - and I'll always believe that.

I was however thinking about the price of Austerity, and if bonds are issued to pay for the massive borrowing, it would be good if the pound is weaker to pay off the debt without hurting the tax-payer too much.

Either way, it's gonna be painful for the country (except the likes of Crispin Odey and other self-styled "heros of the nation")

On the short term moves, Cable opened 1.17, so I wonder if can rally to back to 1.20 as a first goal - big ask I know. Some folks said that the pain of Dec 2020 is simply being brought forward, I don't know)

The problem with a weak pound is that businesses will end up paying way more than there used to for products and then will pass on the cost to public.
Weak pound is really bad for our economy .
It’s great for exporting but importing it’s really bad..
It’s good if you have income that’s in dollars from selling abroad in dollars currently...
But overalll it’s really bad for us Brits as we get poorer .
Imagine if you were to go on holiday and you get far fewer dollars for your pound which makes every thing more costly...

Trendfriend wrote: gbpusd-daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...ElFfI5vjSEuSgEtpA%3D

looks like another bear flag here....Libero....your 1.05/1.08 target may just become a reality in the next few days imvho..

atb, wdik, dyor
trendfriend

I thought it looked ominus TrendFriend, but I'm not so sure; agreed, the charts have been brilliant thus far,but I do wonder if Macro events will trump (no pun honest!) will take over; i.e. Fed Swap Lines with other central banks (including the BoE), Unlimited QE and the possibility of Helicopter money drops... All of this will start weighing in against the USD one feels.

But who knows!

For the first time, I believe that devaluation of the GBP might actually be a good thing for the UK, not because of so-called "patriots" (Alledged traitors more like!) Rees-Mogg and co think so (because of vested interests). Rather, because the amount of debt the UK is taking on will result in further Austerity down the line (more pain for the NHS and the tax-payer); and so with a weak GBP, the debt could be gently inflated away, but let's hope it won't be like Weimar Republic Inflation levels!

Anyway, these are just thoughts. Who knows

Stay Safe TF and the ChartsView Fam! (look at me, I said "fam", I must be cool )