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GBP/USD

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GBP/USD

Postby Yousuf » Sun Sep 18, 2011 6:47 pm

Hey himanshu, first of all a big up for you for providing all the help and knowledge you share on a daily basis. Thank You.

As we know EURO correct its downtrend and got reflected off the 38.2% resistance level. You and I both have took a position at 1.3880. and im still holding on to it as i expect some movement lower.

I wanted to ask you bout gbp/usd because we havent seen a correction as yet and i think it is due for a correction more than any other currency at the moment. Massively oversold, what do you think? on your weekly analysis you mentioned you expect some upward movement, but will you take a buy position or take a short position after correction?

Thank You

Yousuf
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Re: GBP/USD

Postby Himanshu » Tue Sep 20, 2011 9:33 am

Yousuf wrote:Hey himanshu, first of all a big up for you for providing all the help and knowledge you share on a daily basis. Thank You.

As we know EURO correct its downtrend and got reflected off the 38.2% resistance level. You and I both have took a position at 1.3880. and im still holding on to it as i expect some movement lower.

I wanted to ask you bout gbp/usd because we havent seen a correction as yet and i think it is due for a correction more than any other currency at the moment. Massively oversold, what do you think? on your weekly analysis you mentioned you expect some upward movement, but will you take a buy position or take a short position after correction?

Thank You

Yousuf


Hey Yousuf,

Found you here after a long time :). I was away for a short holiday and just reached Tokyo. Was completely out of touch as Iwanted a real break of at least a couple of days. I am just trying to get back to the charts and the news and will start writing/posting again.
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Re: GBP/USD

Postby Yousuf » Tue Sep 20, 2011 1:47 pm

hey himanshu, nice to hear from you and yes i have been away for a long time, mainly due to academic pressure and i too wanted a extended summer holiday, but im back and ready to make some extensive PIPS !! :D.

Regarding the gbp/usd, what are your thoughts? and when u take positions in real life do u post them on twitter too my friend?

Yousuf.
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Re: GBP/USD

Postby Himanshu » Tue Sep 20, 2011 10:46 pm

Yousuf wrote:hey himanshu, nice to hear from you and yes i have been away for a long time, mainly due to academic pressure and i too wanted a extended summer holiday, but im back and ready to make some extensive PIPS !! :D.

Regarding the gbp/usd, what are your thoughts? and when u take positions in real life do u post them on twitter too my friend?

Yousuf.


For past 18 trading days GBP/USD's resistance has been coming near 5-day EMA and right now it is again in that resistance area. Please see the daily chart:

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On the other hand the downward momentum has become little slow and it is possible that some more upward correction may take place but I expect it to be limited below 1.5800 and a fall from there, if not from the current level.
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Re: GBP/USD

Postby Yousuf » Wed Sep 21, 2011 9:01 am

well clearly its fallen from the current level of dovish meeting minutes, but i really do expect some kind of correction.
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