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MadMarketScientist

GBPUSD Trading

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thinking of going long around 1.5750/60 (wherever the pair meets 34ema) with targets 1.5820&1.5885.

 

jumped in during the Asian session after gbp/usd touched and bounced off of 34EMA (the yellow line)...don't know if I can stay awake till FOMC minutes..anyway, target and stop are set...

gbpusd22.thumb.jpg.6114f8b7f6a9be9717381042115c2867.jpg

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jumped in during the Asian session after gbp/usd touched and bounced off of 34EMA (the yellow line)...don't know if I can stay awake till FOMC minutes..anyway, target and stop are set...

 

mission accomplished, thanks to FOMC...now can get some sleep :cool:

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have to admit that i hate when London is closed...

I guess gbp/usd will pull back to 1.5777-1.5765 before turning north...daily and 4h charts are bullish, i.e. favoring buy on dips, but a daily close below 1.5750 would change the outlook

gbpusd27.jpg.dd689a5a3a6a723b82163ef001fa20d4.jpg

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Hello Everyone,

Markets resumed after Easter Holidays in NY session yesterday, as the European Markets were closed. Earlier trends from NY session indicate weakening USD against major pairs. Expect USD to weaken further against majors but there is resistance ahead. Keep your longs short.

Outlook – GBP/USD Neutral to Weak

 

Ifyou happen to take this trade do let us know how it turned out for you.

Best

TradeCuts

5aa711d3750c1_gbpusd2ndap.jpg.5fb6430461056a82f52792cb26fa4816.jpg

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Gbp/usd found good support after consolidating around the expected support level of 1.5140. Even better than expected U.S data was unable to take it to next support level. It has already crossed 1.5300 but at this time trading below this level. I am expecting it to continue towards next resistance level of 1.5347.....

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Gbp/usd found good support after consolidating around the expected support level of 1.5140. Even better than expected U.S data was unable to take it to next support level. It has already crossed 1.5300 but at this time trading below this level. I am expecting it to continue towards next resistance level of 1.5347.....

 

really? did you watch the pair today?.....BOE? Carney? 1.50?

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The pound posted strong gains following the non-taper shocker from the Fed, but the dollar recovered much of those losses following strong releases last week. Unemployment Claims were solid, and housing and manufacturing releases looked sharp as well. In the UK, Retail sales was a disappointment late in the week, posting a sharp decline.

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I am seeing some strong bearish divergence on the MACD GPB/USD Daily chart. I am usually a S&R trader. But as far as indicators go I have found MACD divergence to be the most reliable. I will be looking for a break on the 1 HR TF. looking for a test of the 15870 low on the Daily. Where BTW we have a missed Weekly Pivot, ( about 6 weeks old ).

gbpusddiver.thumb.png.782218a780548fd0c5758a54df906800.png

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