GBP/USD Daily Video, June 08, 2017

[Sive Morten]

Good morning,

Today we just can't ignore GBP, as it brings risky but exciting chances for trading:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[stelore]

'morning Sive, thanks for your accurate analysis...........
........... but I'm missing a bit some "words" about EUR

Have a nice day

 

[Brett Reynolds]

Its all about the Conservative Majority in my Opinion! They need 100+ seats. I was Bullish a few weeks ago...because we are now at the lower right shoulder of the reverse weekly H&S Pattern.!?
That Gap on the Brexit Candle is looking very tempting..but i will be up very, very late tonite...watching this!?

 

[Sive Morten]

'morning Sive, thanks for your accurate analysis...........
........... but I'm missing a bit some "words" about EUR

Hi Stefano,
well EUR is not as interesting right now. As it is coiling around previous top - our suggestion on small continuation to 1.13-1.1330 is still valid...

Guys, here is nice article that explains possible results of today's UK voting:
https://www.bloomberg.com/news/arti...osing-the-most-if-u-k-vote-delivers-no-winner

 

[Sive Morten]

Its all about the Conservative Majority in my Opinion! They need 100+ seats. I was Bullish a few weeks ago...because we are now at the lower right shoulder of the reverse weekly H&S Pattern.!?
That Gap on the Brexit Candle is looking very tempting..but i will be up very, very late tonite...watching this!?

Hm, it is difficult to argue with natural Englishman. You probably better understand all this under curtain political games inside your country. But somehow I feel that something should happen... something that will miss expectations. It is very specific GBP behavior right now... it looks a bit curious...

 

[Joh]

Great way of explaining -am not English but yr analogy is super fine by me

 

[Brett Reynolds]

Hm, it is difficult to argue with natural Englishman. You probably better understand all this under curtain political games inside your country. But somehow I feel that something should happen... something that will miss expectations. It is very specific GBP behavior right now... it looks a bit curious...

Well...i like a lot of others are very, very surprised at the result. As soon as i saw the Exit Poll...and the Gap down i thought somehow that it would be a 'trick'..and as the night went on the results would show what everyone thought...so i waited..but nothing happened! ha . I was hoping for 'Bounce'! I did not make any trade..because it was also very risky to go short to in my opinion! Lucky for you Sive on that one... Risky!!?

 

[Brett Reynolds]

Hi Stefano,
well EUR is not as interesting right now. As it is coiling around previous top - our suggestion on small continuation to 1.13-1.1330 is still valid...

Guys, here is nice article that explains possible results of today's UK voting:
https://www.bloomberg.com/news/arti...osing-the-most-if-u-k-vote-delivers-no-winner

I would not trade until 'after' result on these Elections anyway. It's risky always. Look at US Election and then comments on French Election. It's very hard to predict...because things can change very quickly.

 

[Sive Morten]

I would not trade until 'after' result on these Elections anyway. It's risky always. Look at US Election and then comments on French Election. It's very hard to predict...because things can change very quickly.

Hi Brett, indeed. Actually particular this trade is not very important. You're rigth there is a big part of occasion. Personally in 99% I also skip this kind of setups...

Honestly speaking, professionally, trade that I've made on JPY retracement to 110.21 is more valuable for me, although it brings less money. But it was well planned and it based purely on analysis. GBP trade is more wealthy, but it has great part of occasion.

What is really will matter - action around 1.2650 key support area. Now we see bounce out of it, but when market will calm down a bit, people will sleep with result during weekend, and then come back to markets - there will most interesting and reasonable action.

 

[Brett Reynolds]

I am 'Not yet given up' on 'Our Great British Pound'..lol..! Maybe i am 'Biased'..but i am also 'realist' as a Trader!
I have Cable at 1.2650 support now and at Trend line. Seems we have small Bounce because of some Inflation report this morning. I can't help thinking...'when everyone spells 'Doom & Gloom'...some 'Surprise' is waiting...for the 'Bear Trap'!! ..I am 'On the sidelines....but have been short on EUR/CAD since last week Sive!!?
Better swap than the Loonie....