Shorting the GBP/USD

Is anyone shorting the GBP/USD other then me? Just curious

Cashing out with 150 pips have a great weekend all!

InvestorsEd posted:
Is anyone shorting the GBP/USD other then me? Just curious

I shorted on Friday and closed it after about 50 pips butt hat was about it.

Good for you. I think my next trade is going to be AUD/USD. I want to short it after this next pull back.

The Sterling has started the week on a string footing, now pushing GBP/USD to the area of daily highs near 1.2390.

Currently, GBP/USD is trading at 1.2390, up +0.15%, having posted a daily high at 1.2393 and low at 1.2351.

Brexit negotiations could weigh on cable.

To know the stop loss and target price of the forex pairs visit https://www.mmfsolutions.sg

InvestorsEd posted:
Good for you. I think my next trade is going to be AUD/USD. I want to short it after this next pull back.

AUD/USD seems a little oversold to me at the moment, but who knows, after a pullback it may be less risky to short.

Hello,
It look like GBP/USD made a fake breakout up to 1.2520 and turns back to 1.2495. This may open a way for USD rising down to 1.2460 in short term.

It looks like my AUD/USD short is taking shape

The GBP/USD pair is on a four-day winning spree, now extending its bullish run towards 1.2600 levels amid renewed broad USD weakness, as the treasury yields continue to tumble in response to fading Trump trade.

GBP/USD Levels to consider
The immediate resistance for the pair could be seen at 1.2595 (Classic R2/ Fib R3) followed by 1.2615 (Mar 27 high) and 1.2700 (zero figure). To the downside, supports are aligned at 1.2500 (psychological level), 1.2481/77 (20 & 5-DMA) and 1.2464/50 (10-DMA/psychological level).

TREND INDEX:
Bearish

AVG SELL PRICE:
1.2448

AVG BUY PRICE:
1.2377

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I feel like there's no point in opening any positions right now, the market is asleep.

GBP/USD - As per decline we see during last hour, most likely 1.25 will be touched soon.

What did I miss? Why did it jump like that earlier today? Were there some sort of news?

A quiet and eventless Asian session was witnessed today, as dust settled over a volatile Tuesday led by extensive GBP flash rally. Cable corrected further away from six-month tops reached in a flash to 1.2912, now look to test the downside support at 1.2800 levels.

The GBP/USD pair had the best performance in three months. It broke two key medium-term resistance levels.

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After yesterday, the pound made a modest retreat in the market on Thursday. It preserved key technical levels that broke during Wednesday’s rally.

The GBP/USD pair failed several attempts to regain 1.28 handle in early Asia, and now wavers in an almost 20-pips trading range, as persistent US dollar strength across the board keeps the prices in check.

However, the spot manages to find some support from risk-on trades amid positive Asian stocks and oil prices, which buoys the sentiment around the risk currency GBP.

GBP/USD LEVELS
Momentum above 1.2860 (daily high) could lift the pair above 1.2912 (flash rally high), beyond which a test of 1.2950 (psychological levels) is imminent. Conversely, a break below 1.2773 (daily low), leading to a subsequent break below 1.2750 (psychological levels) is likely to drag the pair towards testing its next support near 1.2706 (5-DMA).

TREND INDEX
Strongly Bearish

AVG SELL PRICE
1.2781

AVG BUY PRICE
1.2528

GBP/USD - the current levels (1.2808) does not look good to enter from the short side on this market. Would be better to looking for sell below 1.2765. Until then, the odds are more or less for long (except some scalps or short term trades) :)

I am short from 1.29 not sure if I should close early. technically chart looks like it could run and run upwards but from a fundamental perspective data is pointing to short gbp

I'm short too, my TP is at 1.2900. I have no intention of keeping a long-term position right now.