I was a bit off with the top forecasting, but that top did come a few weeks later. I missed the boat. However, on 22 of September, after the Scottish referendum the British pound offered a new shorting opportunity with that huge bearish candle. I shorted right there, and I will short again on Monday morning.
I'm not sure about how far this pair can fall, but almost certainly, 1.6000 is going to be tested soon.
Weekly picture here
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Timing_is_key
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Hello Vlad.Adrian, 16000 is very probable, My charts are pointing even lower around 15900, bias is definitely short. Nice chart
vlad.adrian
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Thank you, and nope, I said 1.60 is coming almost certainly, but I can see this pair easily falling to 1.58, easily!
Cityfox
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Hello,Have you sold GBPUSD yet?
What is the longest time you,ve had a trade open/rollover on currencies?
vlad.adrian
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Yes, I sold 4 days before posting this chart, and sold again when I posted it, and I will continue selling. I have been keeping positions for 2 months, but they will add up to more than that.
SensumCommunem
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I agree. Death Cross+War Conflicts nearby+FTSE 3.7% off its highs+yield spread is positive for US Treasuries since September (investors would prefer to buy US Bonds & with that they have to buy the US Dollar and sell Pound)
geometricThinking
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Could be... I think it is worth while to be a bit careful though. My work suggests that a powerful rally may ensue very soon (maybe Mon/Tuesday). Good luck in your trades!
vlad.adrian
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I can't see a rally here. I see short short short. The best scenario for the pound would be some sort of consolidation, but no rally. Thank you, same to you!
geometricThinking
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My bad - I was confused - thinking of a different chart - I quite agree with you, this is not likely to rally- a continued bear seems much more plausible...
vlad.adrian
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good, it was hard not to disagree with you totally :))