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GBPJPY . Bears Bulls both want Ace OANDA:GBPJPY Bears and Bulls both want Ace. 1K or more pips. The hunger, the greed, the odds, the charts, the uncertainty, the sharks in the water. They'll risk it. Little known fact, bears and bulls are good swimmers and sharks can't walk. Pound Yen. Guppy? Is this guppy? Pound Yen. Looks bullish to me cause life sounds like hell in Britain right now but hey gotta do what ya gotta do for the flu thing, don't hate me, that's why they're doing it. Right? Check the new. Brexit hell, but they're making deals right? Bojo just doesn't care. I trust that. Don't trust me. Why am I bullish on the Yen?!! Is it cause banks like LYG are at all time lows? How low can British banks go? Is that the only stinker? I should do some research. I'm bullish but I'll short. Sure i'll i do it. Why not? Either way, whoever is right on this, is gonna make an ace of pips. I hope it's you! And me. We'll see.... tbc...
by allthemoneys
1
ridethepig | GBPA timely update to the cable chart after an annihilation last week... 📍 Taking back control (of support) If we take a closer look at the breakdown we can see that above all it is directed at a lack of confidence in building UK exposure against a no-deal backdrop. What is perhaps even more crucial is the conception of 'track and trace' which is of course difficult to argue against, however if liberty is lost then confidence will follow! If we take into account that the short-term damage from Brexit will relatively speaking demand action from BOE with front loaded cuts and another QE bazooka then sharp speculators can come together and understand the hyper devaluation of Sterling; classical monetary plays to offset the reduction in market access. Euro seemed to lead the way on the leg higher and sterling seems to be leading the legs lower in G10 FX because of its high beta. The 1.35xx highs were rejected in fantastic style; and since the entire scaffolding for the leg higher since July has been reversed. Here eyeballing a move back towards 1.225x and 1.207x, possible extensions towards March lows and $1.10 with no-deal this year. As usual thanks for keeping the feedback coming 👍 or 👎
Short
by ridethepig
7
ridethepig | EURGBP Market Commentary 2020.07.22🔸 An 'ingenious' saving move from Europe and finally they are able to get debt mutualisation through. It will be very bullish for EURUSD in the Medium and Long term horizons, although the ST will become a lot more cloudy via Covid as we enter into the Autumn / Winter for the Northern Hemisphere. I prefer to play EUR on the crosses and vs. GBP is a no-brainer considering that no-deal brexit is still to come and counter any short-lived GBP strength. I am fortunate enough to be dealing with an audience who can take a hint and understand when not to believe politicians. It went: Next came: And now we are entering into a whole game, because EURGBP is a good example of how even in FX both sides can align to the same direction and define the central strategy. Here the following line remains that Brexit is giving up competitiveness and market access (at least in the Short-term we can agree whatever your view is on the matter) which opens up the need for currency devaluation. As long as the UK side makes soft, it makes it difficult to build a constructive view on GBP. The latest ‘track and trace’ systems entering into the picture will weigh heavy on consumer confidence and ensure GBP will remain soft. Actively tracking the same loading zones with 0.905x to add longs in EURGBP and 1.270x to load shorts in GBPUSD. A previous example was last year with the elections, but this is no less imaginative. In a situation where both fundamental sides align, EURGBP will be able to turn the 0.91xx handle into a new base for activity which we can handle in an almost virtuoso fashion. As usual thanks for keeping the feedback coming 👍 or 👎
Long
by ridethepig
4