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I've been bullish on cable since last year I haven't changed my opinion and will not change it for a while now, until the market will prove me wrong I'm going to stay on the long side. But that doesn't mean there will be no selling opportunities, quite the opposite you will see that as we're going to move upwards there will be plenty of pullbacks where you can make money.
If you have been trading for a while you will noticed that GBPUSD has a unique behaviour among major currency pairs, and personally I found it to be the hardest pair to be trade, but if you can read cable's behaviour for sure you can make nice profits.
My long term view on cable can be found here, I've made that prediction at the end of last year: 2014 FX Market Outlook GBP (part 3)
My second update on Cable's price action was when we where trading at around 1.6300, you can find that prediction here: Clash of Titans, BOE vs ECB
My last update was this week on BOE Inflation report and my expectation where for a bullish reaction, you can find that post here: BOE Inflation Report, Cable Analysis
In Figure 1 you can see in a chronological order my forecast for Cable, to be quite honest I'm very pleased to see that each of them was right to the pip. Unfortunately I couldn't take a position in the Contest account because at that time I had full exposure and no margin left, but at least I've made some money in my live account
. From here on I'll let you "guess" where it will go because I'm not going to update this chart anymore, enough is enough. I have already give out too much from my cave
Best Regards,
Daytrader21
- Figure 1. GBP/USD Forecast
If you have been trading for a while you will noticed that GBPUSD has a unique behaviour among major currency pairs, and personally I found it to be the hardest pair to be trade, but if you can read cable's behaviour for sure you can make nice profits.
My long term view on cable can be found here, I've made that prediction at the end of last year: 2014 FX Market Outlook GBP (part 3)
My second update on Cable's price action was when we where trading at around 1.6300, you can find that prediction here: Clash of Titans, BOE vs ECB
My last update was this week on BOE Inflation report and my expectation where for a bullish reaction, you can find that post here: BOE Inflation Report, Cable Analysis
In Figure 1 you can see in a chronological order my forecast for Cable, to be quite honest I'm very pleased to see that each of them was right to the pip. Unfortunately I couldn't take a position in the Contest account because at that time I had full exposure and no margin left, but at least I've made some money in my live account
. From here on I'll let you "guess" where it will go because I'm not going to update this chart anymore, enough is enough. I have already give out too much from my caveBest Regards,
Daytrader21
