EUR/GBP

A retest of 87900 looks to be in sight, some data out tomorrow from UK and EU

Happy to close this trade from earlier ,posted it in charts before hand, if only every trade was as easy.

snapdragon1970 posted:
A retest of 87900 looks to be in sight, some data out tomorrow from UK and EU

Good call. I thought it will keep rallying, but apparently it's too early for that.

Need to break above 0.88050 before I see a positive upward move.

when should the Brexit procedure will be completed ?
what time would be the best time to open a position EUR/GBP?

icepower72 posted:
when should the Brexit procedure will be completed ?
what time would be the best time to open a position EUR/GBP?

It will take years for the negotations to be completed. And during that time all GBP pairs will be very volatile, I think.

Both sides want it sorted as soon as possible,it all depends on negotiations, well if your late to the party wait for the next ECB /Mark Carney meeting ,its trying to break above 88 level but as you can see on the 4 hour chart its showing a down trend,better to wait for strong support ,the gap down at 87 still has to be closed yet, apart from that most traders remain dip buyers.

You're right about all of them wanting it sorted as soon as possible. I'm just sceptical that they'd actually be able to achieve it.

The pair is so choppy it's difficult to trade at all, unless one is scalping. I had a short position earlier today and closed it at a loss.

I'm just breaking even ,my first trade this morning on eur/usd went up a bit then sank, lucky I had a tight stop loss, took a second trade on eur/gbp 87650 looks to be holding.

mlawson71 posted:

icepower72 posted:
when should the Brexit procedure will be completed ?
what time would be the best time to open a position EUR/GBP?

It will take years for the negotations to be completed. And during that time all GBP pairs will be very volatile, I think.

That's good news for us Traders, the longer it drags out,we need volatility .

This mornings trade,Long at 87739 got knocked out last night,I was up 400e ,140e loss got distracted forgot to close my position before the 10pm spike.

GB PMI data out later followed by EUR PPI.

snapdragon1970 posted:

mlawson71 posted:

icepower72 posted:
when should the Brexit procedure will be completed ?
what time would be the best time to open a position EUR/GBP?

It will take years for the negotations to be completed. And during that time all GBP pairs will be very volatile, I think.

That's good news for us Traders, the longer it drags out,we need volatility .

That depends on whether the volatility is predictable or not, I think.

We wait for major support areas to be triggered then take a view of direction .

It's hard to really have an prediction over the volatility through this issue I suppose. Not only need to concern about England, as well as the European country's economic shifting.

We are in consolidation since 10.30 ish ,assume a break out soon ,I smell a trade for the long side if it gets some support @ 87750

Its finally broke above 88 now will it find support at that level ,will wait for retest to that level first before going long.

All I am seeing is more and more range. Are you managing to trade this pair at all at the moment?