EUR/GBP

I will check the monthly data on lexvandam later.

Euro still looks to be flavour of the month, second place pound and third Dollar, UK inflation at 2.7% killing savers.

snapdragon1970 posted:
Euro still looks to be flavour of the month, second place pound and third Dollar, UK inflation at 2.7% killing savers.

The elections in the UK are in a few days, they could change this outlook.

NFP causing chaos as usual. I'm selling into this move up

I will wait till we hit 86835 and take it from there, peaked at the Jan 9th high could be a move lower to continue range from a technical point of view.

We could see it move in that direction after the ECB press-conference on Thursday.

Danske Bank's post in the news section would be same as what I'd be thinking too.

It's already dropping. I think it will reach 0.8630.

So much about it dropping, the elections caused a big rally. Did anyone manage to trade that?

I was going to go long just before the vote, ,you never can tell what algos are going to do,safer to sit on your hands,what a shocker for MP MAY, shorted it from the tops, looks like its in an uptrend for now but its London close as I type,have a long at 87925,Long eur/usd 1.1180.

I did not dare trade it at all. Sometimes I freeze when I see news like this affecting the market so much. Then I regret it.

Some portfolio managers I know don't trade news either ,best to wait for a trend to form or scalp a spike , a straddle trade is another option would have been a good setup for this occasion.

True. As it is, the pair is still moving to the upside, I wasn't expecting that.

GBP investor risk is pretty high I'm just closing my trade from 87925,took awhile for it to play out.

Doing a small short now down to 88300,if we break that next target 8800, still there is an uptrend on the longer charts with possible upside of 9000.

It even fell to 0.8770. I think that was it for the move down though, it will test the last high again.

I'm not sure sure I'm still short and am aiming for a big move to 0.8650

It's very unclear, at least to me. I'll wait for next week for a better signal.

The EUR/GBP pair went back and forth during the course of the week, as the 0.88 level has offered significant resistance. I believe that the market continues to find a lot of interest in this area as it has been so resistive, and of course this pair is going to continue to be volatile because of the British leaving the European Union. This means there will be a lot of headline risk going forward, so it is a bit difficult to trade this market with any significant amount of size. However, if we can break above the top of the candle for the week, I feel then we go looking for the 0.90 level above. This is a market that has been in an uptrend for some time, but we also have been consolidating for the entirety of this year. A break above the top of the range for the week would break out of that consolidation, and that of course is a very strong buy signal.