GBP Trade Index 18-Year Chart

It was a done deal 2 days ago? For 12.1B GBP? I was lead to believe they had only just upped the offer to this figure.

rgrds

GBP breaks above 1.6400 as Cadbury finally agrees to takeover from Kraft. Valued at GBP

closed all gbpusd shorts. ashrafs cadjpy call seems to be making money allright. hope u guys are also taking advantage of that move. eurusd short seems like a good trade with a bearish flag from 1.4350 to 1.4399

i agree rkkashmir,thats what im waiting for is the old 1-2 uppercutt that sends the usd up up up..taking a lil longer ..but soon everything will be better..gl

Everyone, let's take a step back and take a deep breath. Any movements in the market today should really be just fpgotton. Very thin trading conditions allows for unexplained movements in select pairs.

Look out further than the next 10 minutes. Of course gbp/usd will go lower. But this week there is a string of data which is set up for gbp positive. The question is, has the market factored this in with the 500 pip rally in gbp off it's lows.

Also, the eur/gbp pair. Just a week ago at 0.9020 analysts were pounding the table for 0.91-0.93, and possible parity (believe it or not). Now, AFTER the pair has broken down in the near term. these same analysts are pounding the table for 0.87/0.84. They may be right who knows.

But what I do know is I don't need a weatherman to tell me which way the wind is blowing today. I need a weatherman to tell me which way the wind will blow in the future. For example. just read these guys regardie aussie. In asian session today, when it fell below 0.92, they were coming with "justifications" as to why it fell, and why it would continue lower and underperform. Now that the pair has rebounded throughout the day, the same people are pounding the table with "justification" for it's upward movement, and calling for tests of 0.9325, 0.94 and calls for parity yet again. Folks, I can do what they do.

And this is why we are all here reading and contemplating what Ashraf has to say. It doesn't always move in his direction on the day we want it, but many more times than not, and with advance analysis, he has proven to be correct.

Yeah, I'll agree euro and gbp may trend higher in the (very) short term. But we all know in FX things change in a heartbeat. Stay the course, do not overleveredge and undercapitalize, allow things to work out, and you will be fine.

Good trading...