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    Page 42 of 57 ... 37 40 41 42 43 44 47 ...
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    Thread: GBP/USD (part 58)

    1. #411
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      I would not mind if the pound continued yesterday's decline.
      So far, I donít see any good signals for growth either according to technical analysis or according to the options.
      The previous day only confirmed that the rate is not yet ready to grow higher than 1.3300.
      Even an update of the high of 1.3286 was not made. Today, it seems to be an unlikely action as well.
      I highlighted an important level of 1.3150. Today, there is the Max pain level for the short option contract.
      Once this level is reached, we can safely start selling.
      So far, the target is 1.3000. We are unlikely to be able to fall below today.

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      The level of 1.2500 is very significant. An addition of cheap put options at the far strike have been continuing for some time.
      There is still a place to decline to this range, but traders are purchasing huge amounts of put options.
      Yes, they are cheap, but they will be useful in handy when there is a strong decline, but the question is different:
      Will there be such a strong decline after another vote on Brexit?
      According to the strong activity, traders again fear the decline which was at the very beginning of the process of Britainís exit from the EU.
      I donít see strong activity for call options, they probably expect a decline rather than growth.

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      Regarding yesterday's sale, I closed it successfully at 1.3015.
      At the price of 1.3137, I placed the first pending order for the sale. Besides, I placed the stop loss order of 100 points and a take profit order near the level of 1.3000.
      The second pending order for the sale is within 1.3183. Stop loss order is 100 points, while the take profit order is 170 points.
      The risk is at 3% of the deposit.
      Well, we are waiting for the vote, increased volatility, profit on sales or stop loss order execution in case of growth.

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    2. #412
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      Quote Originally Posted by ForexRich View Post
      I would not mind if the pound continued yesterday's decline.
      So far, I donít see any good signals for growth either according to technical analysis or according to the options.
      The previous day only confirmed that the rate is not yet ready to grow higher than 1.3300.
      Even an update of the high of 1.3286 was not made. Today, it seems to be an unlikely action as well.
      I highlighted an important level of 1.3150. Today, there is the Max pain level for the short option contract.
      Once this level is reached, we can safely start selling.
      So far, the target is 1.3000. We are unlikely to be able to fall below today.

      Attachment 105413

      The level of 1.2500 is very significant. An addition of cheap put options at the far strike have been continuing for some time.
      There is still a place to decline to this range, but traders are purchasing huge amounts of put options.
      Yes, they are cheap, but they will be useful in handy when there is a strong decline, but the question is different:
      Will there be such a strong decline after another vote on Brexit?
      According to the strong activity, traders again fear the decline which was at the very beginning of the process of Britainís exit from the EU.
      I donít see strong activity for call options, they probably expect a decline rather than growth.

      Attachment 105414

      Regarding yesterday's sale, I closed it successfully at 1.3015.
      At the price of 1.3137, I placed the first pending order for the sale. Besides, I placed the stop loss order of 100 points and a take profit order near the level of 1.3000.
      The second pending order for the sale is within 1.3183. Stop loss order is 100 points, while the take profit order is 170 points.
      The risk is at 3% of the deposit.
      Well, we are waiting for the vote, increased volatility, profit on sales or stop loss order execution in case of growth.

      Attachment 105415

      Cable regained traction and bounced to 1.3148 (falling 10SMA) in early Wednesdayís trading, following highly volatile action on Tuesday, when the pair trade within nearly 300-pips range.
      The British Parliament rejected again PM Mayís Brexit deal on Tuesdayís vote, keeping high uncertainty and deepening political turmoil, just two weeks ahead of planned departure date on 29 March.
      Parliament will gather again today and vote whether the Britain will leave the EU without deal, with wide expectations to reject such scenario and vote on Thursday on potential extension of departure time.
      Sterling is expected to remain vulnerable, as all possible scenarios are still pending and high volatility could be expected until decisions are made.


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    4. #413
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      Greetings to all of you!

      Looking at the chart, the currency pair Pound / Dollar continued its correctional growth to the level of 1.3305. As the pair tested it for strength, the price rolled back and securely move towards the primary level of support of 1.3183. On the other hand, the quotes of the pair proceeded to decrease. The currency pairís downside movement is anticipated, while the quotes are settling at the level of the lower boundary of the Ichimoku Cloud. Meanwhile, the indicator RSI can be found on the overbought zone. Thus, this indicator provides us a signal to get in the market. From this, it is also planned to have little kickbacks, however, generally, the downward route will still persist. Therefore, it is recommended to gain short and opening deals. Currently, it is very significant to take profit at the level of 1.3139, then after that, the pair is most likely to fall a couple of points.

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    6. #414
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      Good day to everybody who are here in the forum!

      The price at the level of 1.3150 and 1.3200 was purchased yesterday, yet, this mark overtook the pound during the last hours of the day.

      Generally, a voting on prohibiting the administration from removing a country from the European Union without an agreement is quite expected. However, there was one subtle difference - the British administration raise a question on regards the prohibition of the chaotic exit this March 29, in consideration to the parliament. Although the House of Commons already voted for an amendment that prohibits exit without an agreement ever.

      At present, a vote about the postponement of Brexit is anticipated, and despite the fact that the decision will be optimistic, there are still other options. To start off, there were deadlines - a meeting at the end of May before the elections of the European Parliament, a talk at the end of July, which will be also the start of the new elected European Parliament, and the annual postponement of Brexit.

      Additionally, the European Union has said a couple of times that they want to understand what or why is this postponement important. Thus, it will be necessary how the European parliament give weighty justification for their decision. More so, based from the sources from the Conservative Party, it can be ruled out that Mayís administration, who have been asking for a minimum postponement, will just put to the vote anyway. The rejected draft agreement on withdrawal which happened twice will merely add the threat of withdrawal without a deal.

      Overall, even though it is expected that the pound will strengthen, the factors listed above will decide the movementís strength. Likewise, there are still other factors that can affect the pound, which includes the dismissal of the parliament and a new vote of no confidence in the administration. These kind of news will give pound a good pressure. In any case, an estimation of 10% as the risk of a technical exit without an agreement remains.

      Meanwhile, as said earlier, the level of 1.3350 was reached yesterday. However, it is not good to enter purchases from the present ones. It is also hard to define goals from the current level of 1.3315. A minimum level of 1.3400 and a maximum level of 1.3500, including the three figures, are anticipated although this is not possible. It is good to roll back at around the level of 1.350, however this is unlikely too.

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    8. #415
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      Hello All Respected Member of Mt 5; Good morning Everyone

      We are seeing the GBP/USD is in bullish trend and yesterday it touches the 1.3362 over trend of this currency pair is bullish and there is huge chances it will touch 1.3420 in this week so according to my analysis GBP/USD is in bullish trend and find the buying opportunity enter into trade now from 1.3250 and take profit at 1.3320



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    10. #416
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      While there is complete uncertainty surrounding Brexit, the pound has increased by 320 points in a day.
      Yesterday, the trading principle included a large addition of positions, even without providing small speculators with a pause.
      Yesterday, I was selling. The first two sales from the call level and the border of the risk premium were knocked out immediately. Then he began selling even higher, but these sales were knocked out with stop loss orders.
      In short, the profit that I received the day before, I had to return yesterday.

      The trading range in terms of volume was very large yesterday.
      At the moment, the best levels where a reversal is possible is in the range of 1.3400 and 1.3000 at futures prices.
      The level of 1.3200 failed to stop the growth. It just delayed yesterday's growth, but failed to show some kind of strong protective reaction.
      As a result, we get a range of 350 points for active steps. Well, let today's vote be in favor of all sellers which were surprised by yesterday's growth.

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      Changes in open interest were made in favor of 1.3000 and 1.2800. The addition of new put options at these strikes is promising. I think that there is some reason they are buying them. It means that a decline is possible.
      Surprisingly, with such an increase in price, insurance in the form of call options was hardly acquired. But those who could have bought insurance as call options would not be afraid of yesterdayís strong growth, since the risk would have been limited by the premium.

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      Today, I expect strong steps from sellers, probably even better than the bulls showed yesterday.
      If there is another provocation of growth, then I will sell it at the new low which was hit yesterday. In the other case, I placed take profit orders at a distant level of 1.2990.
      Yesterday, we managed to take about 12% of the deposit. Today, under favorable conditions, I expect an increase of 30%.

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    11. #417
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      GBPUSD still looks in pressure and unable to stay over 61fibo level if price fail to move over that level then price will start falling till its last low area, that is fibo 0 where sell orders are take places. The situation is different from EURUSD, where price may climb and drops in GBPUSD. The target area is more then 100 pips away from the current price.

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    12. #418
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      The pound-dollar pair was unable to reach the resistance area of 1.3300-1.3312. Yesterday, it bounced off to it. More so, the largest horizontal volumes were collected quite below this range yesterday. This is from where the price previously went down. Consequently, the instrument sales still remain relevant for today. The entry points should be monitored for near the level 1.3300. Trading Recommendations: Sell at level 1.3300 and take profit at 1.3150


    13. #419
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      The GBPUSD has maintained a tight position since yesterday, holding price presently at 1.32498 at the time of writing this:

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      It appears the NY session could send the pair high as 1.33080 or higher.

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      the reason behind this analysis is the fact that the pair have held on to gains, though given up a small part of it. Seems like it is awaiting some extra buying pressure from the buys to further push it higher. I would definitely go for a buy on this pair once I see even the slightest buying pressure. We can see that price is also slightly above our 10d day simple moving average. Well, if you want to join, please do so with extra caution. Wish all a lot of pips today being the last day of the trading week.


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      The Pound was down against the Dollar at 0.79%, with GBPUSD trading at 1.3227.
      Against the yen, the pound was down 0.44%, with the GBP retreating to 147.60.
      The euro rose against the British pound to 0.85446, soaring 0.64%.
      The Canadian Dollar was up against the Pound at 0.60% and the GBP is trading at 1.7633
      LONDON: Britain's exit package from the European Union, negotiated by Prime Minister Teresa Mae with the European Union, is "the only one on the table," British Trade Secretary Liam Fox said on Thursday.

      †He continued to warn that delaying Britain's exit from the EU in the long run would send a signal to British public opinion that there were "some" in parliament trying to "steal" Britain's exit from the EU.


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