I also decided to open a short on the GBP/USD, let's hope it goes better than usual.

mlawson71 wrote: Wed Jul 31, 2019 12:53 am I also decided to open a short on the GBP/USD, let's hope it goes better than usual.

Excellent man. You're on the right side of the trend so don't worry if it pulls back a bit. This downtrend has been in play since June 2014

Keep us updated.

Jimmy wrote: Wed Jul 31, 2019 1:30 am

Excellent man. You're on the right side of the trend so don't worry if it pulls back a bit. This downtrend has been in play since June 2014

Keep us updated.

It is indeed pulling back for the moment but I think I can wait it out.

mlawson71 wrote: Thu Aug 01, 2019 2:01 am It is indeed pulling back for the moment but I think I can wait it out.

Mlawson are you still in your GBPUSD trade? How's it all going bro?

ChuChu Rocket wrote: Tue Aug 06, 2019 4:33 pm

Mlawson are you still in your GBPUSD trade? How's it all going bro?

I lost patience and I closed it around 1.2110. Now I'm considering a long.

Well, it's still consolidating sideways for now so I am not opening anything.

Breaking: Merkel: Can find a backstop solution by October 31, GBP/USD jumps to 3-week highs above 1.22


While speaking at a news conference in Hague, German Chancellor Angela Merkel said that they can work on finding a regime that keeps the Good Friday agreement and also ensures the integrity of the EU's single market. "We can also find a backstop solution by October 31," Merkel added.

The British pound gathered strength on these remarks and the GBP/USD pair spiked to a three-week high of 1.2241. As of writing, the pair was up 0.9% on the day at 1.2235 and the EUR/GBP was at its lowest level since July 27 at 0.9058, erasing 0.88% on a daily basis.

Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/breaking- ... 1908221302 (Article)

The Financial Conduct Authority (FCA) in the UK has opened an emergency phone line as well as a series of specialized information websites that are intended to help the financial sector cope with the possible consequences of a no deal Brexit.

FCA also warns UK operating businesses that they will have 15 months to comply with the new rules in case UK leaves the EU without a deal in the end of October.

“The FCA has undertaken significant work to prepare for the UK’s departure from the EU. We have published extensive information on our Brexit pages and held events, reaching firms and trade organisations around the country,” Nausicaa Delfas, an executive director at the FCA, said in a statement, adding that ‘We expect firms to ensure they are ready if there is a no-deal. If firms haven’t finalised their preparations, there is a risk they could be impacted. ”

Additionally FCA has extended the deadline for all investment funds and financial service companies to apply for a Temporary Permissions Regime (TPR) until October 30.

GBP/USD through the roof, beyond 1.2500 on Brexit deal optimism

• GBP/USD surges amid fresh Brexit-supportive headlines.
• Sterling awaits Barclay-Barnier meeting outcome amid US-China trade talks.

The GBP/USD pair picked up fresh bids and broke its Asian consolidation phase to the upside to reach fresh three-week highs above the 1.25 handle, having witnessed good two-way businesses over the last hour following the Brexit-positive headlines.

EU’s Tusk: Received optimist messages that a deal on Brexit could be reached

The pound jumped over 100-pips from near 1.2430 region, in a knee-jerk reaction to the European Council President Tusk’s optimistic remarks, hopeful of a probable Brexit deal, as the key meeting between the EU’s Chief Brexit negotiator Barnier and UK Brexit Secretary Barclay concluded.

The bulls have clearly taken control following the initial whipsaw and look to regain the 1.2550, with the market mood also favoring the upside in the risk currency, the GBP. The risk tone remains buoyed by increased odds of the US and China reaching a trade deal later today, with the key meeting between the US President Trump and Chinese Vice Premier Liu scheduled at 1845 GMT.

In the meantime, the GBP markets eagerly await the likely positive outcome from the Barnier-Barclay meeting, as the UK officials report that the talks have just ended. At the press time, the spot trades +0.70% higher at 1.2525, reversing quickly from three-week tops of 1.2542.


Sources: https://forex-station.com (Chart) & https://www.fxstreet.com/news/gbp-usd-t ... 1910110915 (Article)

It formed a spinning top on the daily time-frame at 1.2950, so I think there may be a new move south.