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This thread was started in response to the Analytic:
GBP Trade Index 18-Year Chart
Daily GBP (British Pound) chart of 18 years of cyclical developments in finance & politics
GBPUSD is a tricky one to call - movement is large and in opposite directions over the last few days so in my opinion a dangerous play - therefore similar impact on GBP crosses.
On Aug 5 GBP peaked at 1.7040. On that day EURUSD was at 1.4440.
Now GBP is at 1.6260 - still 740 pips below its Aug 5 peak while EURUSD has moved to 1.93 nearly 500 pips above its Aug5 level.
If GBP is going to play catch up (it may not) you can guess where its headed. The move today is 2 times its ATR - more than 300 pips.
We could get a pull back though.
GBPJPY looks headed up - helped by GBP strength and Yen weakness - double whammy.
Tasha, AUD looks like a morning correction - this is coming back. Lets see it it breaks 92.30. AUD has a pretty strong correlation with Gold which is down today - read this before u trade more commodity currencieshttp://www.investopedia.com/articles/forex/06/CommodityCurrencies.asp
Asad
The US economic figures that have come so far point in the right direction. Even if the changes are minute, they're better than surveyed and those of the last time. Seems EIA will report reduced inventories (esp/ because Empire Manufacturing figs were better than expected). All set for oil to jump?
Interestingly, Dow went below 10K even though GS reported great figures. Signal?
Asad
OMG ,
I just wake up , i checked the account and if i don"t has a heart attack in that moment i think i am brave...:)))
Enyway my account is under water now ...
I ask again : an advice about the gbp/jpy and eur/jpy ? will be apreciated
Redstone how are you ? if i remember you was short in gbp/jpy
Tanks