GBPUSD

Hi TrendFriend,

(great post as per usual!)

Well, I walked away with £13 plus change (drinks on me!) after trying to trade this!

There's still the matter of some of my savings in USD, which presents a headache, but that's for another time...

4 hour Chart URL: www.tradingview.com/x/AlvQCiZf/

Cable has broken out of my crude channels.

gbp-usd - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...NNBVQQEQeNdoRErRs%3D

strong rally here...broken above the 50 day ema line and trend channel...
could it go to test the 200 day ema line at 1.2628 ??

while below that 200 day ema this is still in down trend...

be interesting to see how it closes today...could well have been a bull trap b/out...
A rally was likely here because of the large bullish rsi divergence...i just thought it would come around the bottom of the channel at 1.1840...

anyway while above 1.2230 (these numbers change a tad daily) this should rally to 1.2628....
below 1.2230 calls for the lows again...and l/lows imvho...

atb, wdik, dyor,
trendfriend

nice post below Libero...no idea about XE.
good luck if your trading this...

*SHORT TERM VIEW*

it's testing the previous recent high on the hourly, but I'm watching for TF's 1.2367.

www.tradingview.com/x/cmMh8EtZ/

This one is a really tough to trade!

(with politics controlling direction - it seems - Johnson will probably get his election wish, which "should" end the rally - but WTFDIK! )

Hi TrendFriend,


compelling viewing I have to say (and a great trade set up)

Showed this morning's 15min cable chart (which was worse than yesterday's!) to a work colleague, and his response was akin to "somewhere in this chart is a unicorn; and if I wish hard enough, I'd be able to see it".

I noticed the retail clients are long, but I'm sure the institutional ones are (majority) short. This data iirc is available to retail clients, which only even more concerns for these poor souls.

A more general question - have you or anyone used XE.com or any other firm to transfer dollars (onshore) to sterling?

gbp-usd. daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...qE3Zi3jCCk6TfNUlcrM=

Still holding this channel...next stop and dead cat relief rally at 1.1840 imvho...

74% if ig clients long...

Thsi looks to be just the start of a deeper drop imvho...

atb, wdik, dyor,
trendfriend

Oh man....

Timber!