Long or short?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Closing in on 1 hour 5SMA . . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Europe to the rescue! image

Auslanco - GBP/JPY and GBP/USD (newstrade)

That's very true. Looks like it's dropping now. Wonder how far?

Auslanco - GBP/JPY and GBP/USD (newstrade)

I would agree that if we don't break the current resistance, it'll head back down. It's too volatile a pair to range for very long, and if it can't move up it will move down. Could you elucidate on the significance of 229.00 a little more? Thanks, ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I think I'll wait awhile and try to catch the 5SMA. It's just ranging right now, anyway.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Thanks. It turned out to be me getting 228 and 229 mixed up. Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

Also the 2 hour 5 SMA is there.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Could be that daily . . . might just need more momentum.

Auslanco - GBP/JPY and GBP/USD (newstrade)

The one minute chart was ideal for watching (and buying and closing) that spike. Let's see it try to break resistance again now.

Auslanco - GBP/JPY and GBP/USD (newstrade)

It's bouncing off that! Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

The Daily 5SMA is 231.64. The 4H 5SMA is 228.91. It's above 229 now. If it keeps heading north it might be testing daily. Can anyone help with current fib info? Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

This price movement reminds me of a slow escalador ride to the basement of a large department store. The lights are out and it's spooky looking down there. You're not sure if you really want to keep going or not. Then you realize you have no choice. ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

That was probably right. It's closer to 228.20 now. The 2 hour is around 228.75 if I'm reading that correctly. Hopefully we're not heading up there. Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

Congrats! Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

Sheesh! I set a TP for 289.45, but could have used 288.45 and gotten another 100 pips. A good day for shorters! I'll get in again when it looks like the retrace is complete. But not sure yet when / where that will be. Ron

Auslanco - GBP/JPY and GBP/USD (newstrade)

Down!

Auslanco - GBP/JPY and GBP/USD (newstrade)

Our seers in action!

Auslanco - GBP/JPY and GBP/USD (newstrade)

I'd prefer to see it breach 230.10 first . . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

" . . . they are lowering GDP growth . . . ". So simple a caveman could do it! Ron image

Auslanco - GBP/JPY and GBP/USD (newstrade)