Trading Game Plan

FX Trading Plan – Pound (GBP)

Quick Update on the Pound, which remains resilient in light of Trump’s victory as most pairs made substantial gains with the exception of GBP/USD due to US Dollar’s strength. Dips should continue to be bought as technical picture turned bullish with confirmation of LT down trend breakout in the FXB:

20161114-FXB.png

Here are quick updates and parameters on major GBP pairs:

GBP/USD – Dropped back towards ST uptrend on USD strength after spiking up near 1.27 area. Buy this dip and towards 1.23.

20161114-GBPUSD.png

EUR/GBP – Plunged back inside ascending channel. After consolidation should continue south towards bottom of channel

20161114-eurgbp

GBP/JPY – Minimal resistance until Sept swing highs and downtrend resistance

20161114-gbpjpy

GBP/CHF – Consolildating around Aug swing low after . A confirmed close above points to top of descending channel

20161114-gbpchf

GBP/AUD – Retraced entire flash crash move and now consolidating. Wait for confirmed break above 1.675 before going long again.

20161114-GBPAUD.png

Original Post: https://wingcapital.wordpress.com/2016/11/08/fx-trading-game-plan-pound/

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