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GBP Near-term Scenario

It's getting late here in the east coast of the US so I'm going to share one last chart on the GBP/USD with what I believe will be the two most likely scenarios, both of which bring the pair back up to the 1.40ish level in the coming days. I rarely ever trade currencies & although I didn't place any leverage bets, I did just transfer a good portion of the cash balances in my trading account from $USD to GBP.

GBP-USD 1 minute June 24th

GBP-USD 1 minute June 24th

Again, these currency setups are not official trade ideas, just passing along my take on the chart for those interest as well as those that reside on the other side of the pond that might have a horse in this race.

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Jun 24, 2016 1:00am|Categories: Forex (Currencies), Unofficial Long Ideas|Tags: , |4 Comments

4 Comments

  1. snp June 24, 2016 1:30 am at 1:30 am

    thanks for working late randy

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    • rsotc June 24, 2016 9:10 am at 9:10 am

      snp- How could I not? Watching the vote & then market’s reaction was like watching one of those rare Super Bowls where the game is neck to neck right up to the end (or a close game 7 in the Worlds Series or NBA playoffs), especially when the underdog that was expected to get blown out comes out with the upset. Excuse me now while I start my second pot of coffee. 🙁

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      • GetItRiight June 24, 2016 9:17 am at 9:17 am

        I did the same starting at 7:30PM EST, when the votes started trickling in. I was checking the live counting every 5-10 minutes, all the way to 12AM EST (I am in Toronto by the way). Then watching the futures, gold and oil react, one of a kind experience.

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  2. jegersmart June 24, 2016 9:19 am at 9:19 am

    I think I am going to close some FAZ/FAS positions soon after the open and put some cash on a Euro short swing trade personally…..EU CB’ers meeting this weekend – suspect some sort of QE XXXL might be on the cards…..?

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