GBP/USD

[FiringSquad13]

Any thoughts on where this will go.  Currently above the support line but a break of the support line could see a big drop.

 

I suppose again the crucial factor is the interest rate.  I see conflicting articles on this daily.  Over the weekend BofE govenor Mark Carney has said that he has not been close to voting to raise rates.  

 

I will be watching UK GDP figures Wednesday.  0.7% for Q2 expected.  Also 2.6% y/y.  Then of course NFPs on Friday.  Last month's 173k was well below market expectations.  Expecting 203k this release.

 

[jbtrader]

Hey Firing Squad,

 

I want to be long GBPJPY and short EURGBP.

I like the prospects for the GBP but the USD I feel will continue to get stronger.

Japan and Europe continue to have monetary policy pointing to easing further and so I believe are a good short on the other side of wanting to be long GBP

 

What do you think?

[Guest FoxTrader]

hi FiringSquad - it is two days later and we are still in that ballpark (GBP/USD now, 30/9/2015 at 14:00 gmt on 15171) - not really moving. Also seeing conflicting realizations on analysis and fundemetal info every day - HUGE uncertainty.... I am a GBP bull, so...

 

Will be interesting when we talk again in, say, a week or so ???/

 

Happy days

[Guest JasonM]

bog drop? Havent we see seen it it lowest? Isnt Fed rate rise priced in yet? Fed may even disappoint.

[Guest JasonM]

would be nice if I typed better on my mob. BIG

 

[jbtrader]

Hey Jason,

 

US rate rise coming this month.

I expect the USD will be strong until then so the Pound should continue to weaken this week.

 

My feeling is there won't be another rise in rates for a while after this one.

This should see a good bounce coming post the rates decision.

 

Just my thoughts and I will be trading accordingly.

 

Cheers,

 

JB.

[Guest FoxTrader]

here we are - 30 Nov 2015 and at the moment the GBP/USD is ready to fall through 1.5004 - never thought that it would go there - the "big drop" certainly did occur....

 

happy days