GBP/USD Now Going Short!!

GBP was my Bullish favorite, but has now reversed with power to the Downside:

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  • NathanTucci

    Hey Paul, thanks for tuning in.. Yeah, the Yens are great, glad you got in on some of the action last week!! GBP/NZD is interesting–I think we’ll take a look at that in today’s analysis.

  • NathanTucci

    Thanks Bob 🙂

  • NathanTucci

    Hi Ben, yes I see what you mean.. And I agree with you. When the BOJ is doing all it can to weaken, weaken, weaken; it’s hard to fight against that. It’s almost as if your typical areas of support and resistance don’t matter in the midst of this massive move.

  • NathanTucci

    Hi, thanks for the comment.. I am not seeing a lot of upside right now, but you are definitely right that we need to watch for those corrections.

  • Paul

    Thanks for the excellent NDA

    I know traders should never be surprised by the market, but the GBP USD weakness was a surprise to me as I was waiting for a long trigger!

    Anyway, I remain bullish on the JPY pairs. USD JPY & CAD JPY were both very good to me last week. As you stated though, I agree that there needs to be a nice pull back before any potential triggers for me (the support at 100.00 would be nice on the USD JPY). Can’t do anything with EUR GBP yet either, so once again its a patience exercise

    I’m still watching GBP NZD, as price has pushed back up to the 2012 low @ 1.86 00, which could also provide a ‘support becomes resistance’ opportunity, if I see a decent trigger (candle formation) to get me in to this pair on the short side

  • Bob

    Nathan, you sound sick. Hope you feel better

  • ben

    Thanks Nathan, very thorough as usual.I was looking at the usd/jpy monthly chart and noted the major resistance at 102.00.I did put a sell order in there and am up a little but I suspect the BOJ”S effort to weaken the Yen may cause this level to be broken.What do you think?

  • Cazzie

    GBPUSD- I feel it may fall a little further, but is getting ready to turn to the upside towards 1.5480, which will be a correction.