Gatenio, it is not that bad, but it is bad enough. The issue is about Ireland, and any US trade deal (and in fact, normal relations with US) will be impossible if Irish question is not sorted out. And no normal relations with EU either. So this ...

Cable Update (GBPUSD)

Bulls are trying to organise some counter-attack, helped by risk-on mood (stocks up, oil rebounding). Let's see how far they can go. 40-50 pip retrace would be nice for a sell.

Cable Update (GBPUSD)

There is no chance of that. It will be a first reading of the bill, which is not even accompanied with a debate. Note, however, that there will be Prime Minister's Questions which are likely to be devoted in large part to the same topic. And Johnson ...

Cable Update (GBPUSD)

I did enter the sell at 1.347 and at 1.326, but closed both too early, which I of course regret. I don't pretend to be a great trader; I am relatively new to this, and am learning. Still, I suggest that we either communicate in a respectful manner, ...

Cable Update (GBPUSD)

Now let's look at other currencies and asset classes. "Risk currencies" AUD and NZD fell by 1% "Oil currency" NOK fell by 2% Oil and gas futures fell by 5-6% US stock indices fell by 2.5%-4% I saw figures like these not too long before... On the ...

Cable Update (GBPUSD)

I don't like to boast, but I think I summarised the bearish case quite well before the fall started in these posts: url url url I think the posts are still valid if you look for fundamentals (and some technicals) behind the fall. The question ...

Cable Update (GBPUSD)

Disagree here. Pound went down on Brexit. It went up together with euro, gold and US stocks => because of USD. Bounce off 1.3 was expected, that I agree with.

Cable Update (GBPUSD)

London selling pounds, New York selling dollars. Show of confidence in their own economies.

Cable Update (GBPUSD)

I have a theoretical question. Why G/U is correlated to US stocks? I understand the risk-on/off concept, but it should be working on higher timeframes, and they are visibly correlated even on 1 minute chart. Is it algos that would buy "risky" assets ...

Cable Update (GBPUSD)

Would be a pity. 1.35 may come eventually on dollar weakness, but I also don't preclude that we will never see 1.35 in our lifetime.

Cable Update (GBPUSD)

I hope for a bounce off 1.31 to sell. Not sure it is coming though, pound looks very weak.

Cable Update (GBPUSD)

Yes, weak currency is better for exports. But the problem with Brexit is that it kills supply chains, (most likely) erects tariffs and other barriers (such as legal and information barriers) and reduces investment. So the pound will have to fall ...

Cable Update (GBPUSD)

Mini-bounce, even 50/100 pips -- possible. 200 pips -- I can't see it. I am not sure if you just make notes on how price will react, or plan to trade on this. If it is the latter, you are going against a strong trend and against your own mid-term ...

Cable Update (GBPUSD)

It went up in a straight line, why not down? This year we have seen a lot of big one-way movements, it is becoming more normal.

Cable Update (GBPUSD)

I don't doubt that it has happened in the past, as it is a normal technical pattern. But patterns may or may not apply to current situation. This week's focus is Brexit. So we can advance higher if there is good news on Brexit, or if there is no ...

Cable Update (GBPUSD)

1.32 possible if difficult. 1.325 problematic. 1.33... very unlikely in my view. We are not trading in a vacuum, real-life political developments are important. I can't see many buyers with the current EU-UK tension escalation, and technical flows ...

Cable Update (GBPUSD)

Hmm, I am not sure I did reveal that much.

Cable Update (GBPUSD)

Thank you for sharing this. Somehow, defining SL and TP for every trade never occurred to me. I don't think I will start now, but I will give it a thought. On the R/R and win percentage dependence, I think one should consider money management and ...

Cable Update (GBPUSD)

No need to be sorry. I fully agree that Brexit is not defining G/U direction as it did, with a lot of other developments, mostly Covid-related. But it is still a huge issue, and if we are to proceed with the same abandon as we saw over the last ...

Cable Update (GBPUSD)

In theory, yes. In practice, you may lose too much at a time if you place your stops at "safe" places (and too often if you use tight stops). Stops are good near important support/resistance levels; less so if you are catching a falling knife, for ...

Cable Update (GBPUSD)