British Pound / U.S. DollarUpdated GBP - Cable: Are you going to move anytime soon?
GBP - Cable: Are you going to move anytime soon?
GBPUSD - I actually like trading GBPUSD a lot. I know there's a lot that found it frustrating due to Brexit times and all the other aspects we have to take into account but as I live in UK I find it a comfort to trade GBP - I've had questions given do you think what's happening with Boris will affect the GBP and the answer is a no. The market does not care as it isn't as a big scandal to take into account to shift GBP focus. We've been in a range for a while and including myself it's been a tricky pair, I've had to day trade due to it being a choppy market for now. I am still a firm believer we will head higher, since start of this yr and last yr due to dollar weakness but whilst looking at GBP I do tend to put my focus on EURGBP and even that pair is trying to find which way it should shift. The best advice I can give you whilst trading GBP and other pairs for now: Trade what you see, not what you think. 1hr-30min Time frames have speeded up my day on day trades rather than swings set ups.
GBPUSD - Technical view
Support: 1.39346, 1.39234, 1.39035 (200 & 50 EMA are key support areas at this current moment of time)
Resistance: 1.39738, 1.39875, 1.40075,1.40255
Pattern: Wedge (longer term) Bull flag/smaller wedge (Shorter term)
Key Tip: Question to ask yourself whilst planning your trades - What kind of environment are we in?
Best of luck!
Trade Journal
Just a trade idea, not a recommendation
GBPUSD - I actually like trading GBPUSD a lot. I know there's a lot that found it frustrating due to Brexit times and all the other aspects we have to take into account but as I live in UK I find it a comfort to trade GBP - I've had questions given do you think what's happening with Boris will affect the GBP and the answer is a no. The market does not care as it isn't as a big scandal to take into account to shift GBP focus. We've been in a range for a while and including myself it's been a tricky pair, I've had to day trade due to it being a choppy market for now. I am still a firm believer we will head higher, since start of this yr and last yr due to dollar weakness but whilst looking at GBP I do tend to put my focus on EURGBP and even that pair is trying to find which way it should shift. The best advice I can give you whilst trading GBP and other pairs for now: Trade what you see, not what you think. 1hr-30min Time frames have speeded up my day on day trades rather than swings set ups.
GBPUSD - Technical view
Support: 1.39346, 1.39234, 1.39035 (200 & 50 EMA are key support areas at this current moment of time)
Resistance: 1.39738, 1.39875, 1.40075,1.40255
Pattern: Wedge (longer term) Bull flag/smaller wedge (Shorter term)
Key Tip: Question to ask yourself whilst planning your trades - What kind of environment are we in?
Best of luck!
Trade Journal
Just a trade idea, not a recommendation
Note
Could go towards 200EMA.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.