GBP/USD soaring higher....

inspector_monkfish

pennylane99 wrote: »

travel xchange rates are still low though

1.36 at Travelex today

don't trade with them then, they are having you over !!

neilbond007

inspector_monkfish wrote: »

its called a fibo level
can't pretend to know a great deal about these, but its what all the technical analyst chaps work out

its like a resistance level that needs to be tripped in order to trigger more buyers into the market place

next is 1.4360
then 1.4415
then 1.4500

if it can't successfully push through these levels, chances are it will tumble back down

it usually takes several attempts to push through these levels, rather than just giving up at the first attempt

last at 1.4282

thanks for that... that's my morning sorted

inspector_monkfish

neilbond007 wrote: »

thanks for that... that's my morning sorted

no problem!
enjoy your morning.....


we also have the FOMC meeting tonight (7.15pm GMT) in the US (where the US Federal Reserve Bank discuss their policies and usually make a decision on thier rates)

as the rates are already at Zero over there, theyu have nowhere else to go, so its going to be all about what they have to say in their statement, rather than what they actually do

inspector_monkfish

looks like we are stuck between 1.4330 and 1.4250 for today

hasn't threatened the important 1.4360 level so far

bit of a nothing day really!!

neilbond007

inspector_monkfish wrote: »

looks like we are stuck between 1.4330 and 1.4250 for today

hasn't threatened the important 1.4360 level so far

bit of a nothing day really!!

looks like you spoke too soon!

inspector_monkfish

neilbond007 wrote: »

looks like you spoke too soon!

haha
just hit 1.4373, but stumbled back to 1.43 now

it'll try again shortly i'm sure.....

neilbond007

inspector_monkfish wrote: »

haha
just hit 1.4373, but stumbled back to 1.43 now

it'll try again shortly i'm sure.....

let's hope so... seems to be taking an awfully long run up for this attempt

inspector_monkfish

neilbond007 wrote: »

let's hope so... seems to be taking an awfully long run up for this attempt

well its clear there is good support back at the previous fibo level around 1.4250

seems to hanging around there right now

inspector_monkfish

neilbond007 wrote: »

let's hope so... seems to be taking an awfully long run up for this attempt

the worry now is, that as it failed to really challenge that level, we could see it drift lower

holding around 1.4290 at moment, but no sign of it really mounting an upward challenge.
could see it heading back towards 1.41, unless it gets its @rse back in gear and mounts a serious challenge!

lou29

Where are you watching this?? Thanks:money: