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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
How much of the UK/GBP bearishness will factor in these upsides?? In my naive view, I would have thought cable's bearishness should drag this pair down, but, seems that the JPY weakness is overshadowing GBP weakness.
In the meantime, wondering what comes out of Japan/China talks this weekend....
in my opinion gbpJPY is still intact to continue in the upside move..as JPY appears to be, after 1day break, the weakest cuurency overall, usdJPY breaking 93level, eurJPY>>that inverse H&S (maybe) under construction..JPY is not in favor right now, we have to admit that,,..
142,70-143 are levels im would be thinking about to sell it..MAYBE...
I'm looking to short at 141.50 with SL at 143.53
Anyone touching GBP/JPY?
What you thinking, where would you go short. Or are you on the sidelines
Ashraf
I've been away (from the country and trading) for about 3 weeks (from 7/8 March). Regrettably I had to leave some positions on although I would have preferred not to. I'm pleased to see most of my short gold and EUR/USD positions came good.
Was a little surprised to be stopped out of GBP/USD on 17th March around 1.53-somthing, which looks like it was near the high of that period.
Can anyone quickly sum up what was going on then and why the pound strengthened?
Overall, I am just about "up" on the trades I left although I will try never to leave trades open unwatched for such a length of time again.
I wasn't watching while I was away, but without trying too hard I could see gold was going in "my" direction, and naively hoped that GBP/USD was more or less doing the same. Just goes to show that assumptions are fatal in this business as in others.
Thoughts about gold from here on in?