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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:

GBP

Discuss GBP
 
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DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 12, 2011 17:32
@Shane, when I talk about "corrective" I am meaning correcting the move down from the 4th Nov high.
Shane
Lahore, Pakistan
Posts: 209
13 years ago
Jan 12, 2011 17:31
I dont wanna bet on rate hikes but markets do respond to rumors dave.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 12, 2011 17:28
As Ashraf commented, the BOE will not hike rates in the near term but we have had commentators predicting 2 x 0.25% hikes sometime this year. I suspect later rather than sooner and possibly not at all.
Shane
Lahore, Pakistan
Posts: 209
13 years ago
Jan 12, 2011 17:28
Ashraf wasnt very confidant about GBP in the videos but his IMT stated a chance for going short. Dave the upward momentum is too strong on GBP at the moment doesnt seem corrective clearly the downtrend is taken out for the moment .
Shane
Lahore, Pakistan
Posts: 209
13 years ago
Jan 12, 2011 17:23
BTW sure bet u will see a correction at 1.58 . Catnip are u out or still in
Shane
Lahore, Pakistan
Posts: 209
13 years ago
Jan 12, 2011 17:22
I have learned to take losses lol, got out of the short seems like 1.5810 and if taken out 1.60 is the next target. BOE may sound a bit bullish with no easing and probable rate hike by BOE in summers who knows wats GBP is upto.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 12, 2011 16:58
Ashraf daily stochastic only at the 75 level so in his tech terms it has plenty of scope for more upside. 50 CCI just testing the ZL from below. I am not an indi man but they do show what price is doing in terms of momentum
DaveO
UK
Posted Anonymously
13 years ago
Jan 12, 2011 16:53
decent range candle today, would expect to see some retracement possibly testing the trend resistance now potential support line. Ashraf line going horizontal btw. If price breaks below we can probably assume the corrective has completed.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 12, 2011 16:49
Fib 38.2% level is at 1.5708 clustering nicely with the 100% sym level. If GU makes its high here its a very bearish sign, more likely to carry on up to the 127% level clustering with the fib 50% level c. 5810 to 5820
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Jan 12, 2011 16:41
summetry = symmetry
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