Good day fellow traders,
CrazyTrader is right that GBPJPY and GBPNZD are still in the downtrend.I am sorry,I did not realize that I did not shre my rethink with this blog though I posted this to the subject I started 'Trade Ideas' on Friday it has been a very massive pips making rethink since Friday till now.Here is what I posted then:
Member Since Feb 15, 2016 111 postsmmafxbook Jun 03 at 11:26
Good morning traders.The GBP pairs are not ready to go north anymore in my view as GBPNZD and GBPJPY have both broken below their supports,and thus want to continue the downtrend going south.GBPCAD was not ready to go north even before my previous post.With at least these 3 pairs indicating they are still in the downtrend,my bias has resumed to shorting the pairs if I see my favorite short setups,God-willing with at least 300 pips from GBPNZD and 200 pips from GBPJPY.GBPCHF is still showing signs of going north though,I suggest staying out,except if it breaks the 1.4315 level with strong conviction for a long trade.Should GBPCHF too break the bottom of the range and re-test,my bias will resume shorting the pair too,God-willing.
In all,traders with humble accounts may wait for the NFP news to be over before entering trades today,while those with fairly large accounts and greater risk appetite may enter their trades as they see their favorite setups,God-willing.Yesterday being generally quiet we may expect some good movements and thus pips today,God-willing.
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