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BRITISH POUND / THAI BAHT

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GBPTHB trade ideas

GBPTHB Long term.Hi everyone, looking at GBPTHB, we may see that GBP formed nice candle patter to the upside, also it's at 16 years low from where we should see a pullback at least to 50 fib. As brexit, covid drives markets, loots of people will seek holidays in warm countries once allowed, and as Thailand is beloved by Brits, we may see a skyrocket in the price of thb. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
Long
by Coder775
1
SELL THB/GBP Good opportunity for a SET & FORGET SHORT tradeHaving lived in Thailand for 7 years I frequently watch the Thai Baht exchange rate. Since I left in 2010 and before the THB has strengthened against the GBP. At one time I was getting BAHT to the GBP now its exactly half that. My contacts in Thailand are telling me Thailand is suffering as a consequence of Covid-19 hitting the tourism sector hard and the economy is poised to fall into recession which may be long. Looks a good time to SELL THB/GBP for a trade that might be active for many months possibly years.
Short
by theforexportal
New swing trading channel established for GBPTHBLooking at the weekly chart, over the past few weeks we have seen a steady decline, we've now found ourselves at the bottom of our RSI with a score of 30.54. Last time we have our RSI bottom out (as highlighted above) was all the way back in October 2016, we saw a sharp Bull move which kept us trading in this channel between 42.02 - 44.94 for practically 2 years. In May we failed to break the now resistance level of 42.02 and have found ourselves dumping since. As we all know, usually, history repeats itself. I anticipate us trading in this new channel for awhile to come. Roughly 8% from support to resistance, a good channel to keep tabs on everyone. Happy trading everyone! DOLLARCLUB
Long
by DOLLARCLUB