Coronavirus: British Pound plunges to its lowest level in over 30 years

[Logosone]

20 minutes ago, transam said:

"After that successful short of the pound".....Yes, you take care.........

Yes, the pound fell 40 pips this morning. If you want to make some money keep an eye on the pound and just take it short. The British economy is in such a mess you have a good chance to make money shorting the pound.

[metisdead]

A post containing a music video has been removed. 

[nauseus]

21 minutes ago, Logosone said:

Yes, the pound fell 40 pips this morning. If you want to make some money keep an eye on the pound and just take it short. The British economy is in such a mess you have a good chance to make money shorting the pound.

So strange. My chart shows Sterling nudging up against the USD slowly all day. You must be a skillful trader! ????

 

[Logosone]

"Your" chart on investing.com, lol. Okay, now, if you want to look at my professional chart, ie Metatrader 4, I have drawn in two red horizontal lines which mark the 47 pip fall from earlier this morning. The declining red line in between the two red horizontal lines shows the fall for emphasis.

 

Yes, it took a little bit of skill to see that fall coming, but I was a bit late, left 7 pips on the table. But 40 pips. Is not bad for now. The upward correction that followed is solely Dollar related, let's not pretend it has anything to do with strength of the pound. Obviously the British almost always take the pound up, but let's see what happens when New York opens.

 

 

Edited March 24, 2020 by Logosone

[nauseus]

42 minutes ago, Logosone said:

"Your" chart on investing.com, lol. Okay, now, if you want to look at my professional chart, ie Metatrader 4, I have drawn in two red horizontal lines which mark the 47 pip fall from earlier this morning. The declining red line in between the two red horizontal lines shows the fall for emphasis.

 

Yes, it took a little bit of skill to see that fall coming, but I was a bit late, left 7 pips on the table. But 40 pips. Is not bad for now. The upward correction that followed is solely Dollar related, let's not pretend it has anything to do with strength of the pound. Obviously the British almost always take the pound up, but let's see what happens when New York opens.

 

 

Amazing. But you would have made a lot more buying GBP immediately after your lucky break.

[saengd]

Can I just ask what relevance day trading and reading tea leaves has to do with the OP, as humorous and entertaining as it might be?

[Logosone]

4 minutes ago, nauseus said:

Amazing. But you would have made a lot more buying GBP immediately after your lucky break.

I think I'll make even more shorting the pound after these upward corrections. Let's not forget the overall trend is still downward. It's just a question of waiting for one of these big down waves. The overall fundamentals of the UK economy are terrible. The worst of Covid19 is still to come for the UK. Yes, there is today weakness of the USD and that has led to a slight up correction for the Pound. But let's not forget the overall figure looks like this, and consensus is that a depression is coming,  to go long could be risky:

 

 

 

 

 

 

[nauseus]

5 minutes ago, Logosone said:

I think I'll make even more shorting the pound after these upward corrections. Let's not forget the overall trend is still downward. It's just a question of waiting for one of these big down waves. The overall fundamentals of the UK economy are terrible. The worst of Covid19 is still to come for the UK. Yes, there is today weakness of the USD and that has led to a slight up correction for the Pound. But let's not forget the overall figure looks like this, and consensus is that a depression is coming,  to go long could be risky:

 

 

 

 

 

 

Looks like pretty solid resistance to me. I think that's pretty relevant to the OP. Good luck anyway.

[Logosone]

You could be right. If I see a strong, long, sustained move upward, then it would be clear it is over and you can take the pound long again. Like with USD Yen, for example.

 

But the pound was at 1.30. It's now hovering in a range of 1.14 to 1.19. 

 

If you look up the great Depression, that came in several waves, like a pandemic. I really don't think we've seen the bottom of the pound. I hope we have, as it would mean things go back to normal. But, looking at history, which I was taught in the UK, I expect further waves downward. I don't trust zis resistance....

 

Thank you, you too.

[Logosone]

GBP/USD Price Analysis: Inside short-term falling channel

 

GBP/USD struggles around the multi-year low.

A short-term bearish technical formation, 100-HMA restricts the immediate upside.

1.1400 becomes the key support-confluence.

Despite marking 0.40% gains on the daily basis, GBP/USD recovery seems doubtful inside the immediate falling trend channel. The cable pair currently takes rounds to 1.1590 during the Asian session on Tuesday.

Even if the quote manages to cross 1.1620 channel resistance, a confluence of 100-Hour Moving Average (HMA) and 38.2% Fibonacci retracement of March 18/19 declines could question the buyers afterward.

 

https://www.fxstreet.com/news/gbp-usd-price-analysis-inside-short-term-falling-channel-202003240033

[bert bloggs]

Pound has shot up against the dollar this weekend

[saengd]

1 minute ago, bert bloggs said:

Pound has shot up against the dollar this weekend

The US Dollar Index fell by over 1% so USD weakened.

[bert bloggs]

5 minutes ago, saengd said:

The US Dollar Index fell by over 1% so USD weakened.

as long as its up i dont care a monkeys f_rt why????

[saengd]

2 minutes ago, bert bloggs said:

as long as its up i dont care a monkeys f_rt why????

Did you ever stop and think that perhaps others do care!

[transam]

It could be worse.....................????

 

 

 

 

Edited March 28, 2020 by transam

[saengd]

That is truly scary.

[scubascuba3]

i just got 40.53 which is pretty good considering a few days ago it was 38

[bert bloggs]

5 hours ago, saengd said:

Did you ever stop and think that perhaps others do care!

I am sure they are heartbroken when their currency goes up and ours goes down 

[saengd]

24 minutes ago, bert bloggs said:

I am sure they are heartbroken when their currency goes up and ours goes down 

What I had intended to convey was that other posters would want to know the reason why "the Pound shot up" as you  put it, in fact the Pound didn't do much at all, the Dollar sank. People care about that because it's good to know if in fact your own currency is getting stronger or whether it's in the pan already and the other half of the pair just sank further, that sort of knowledge is more than just a little bit useful in making sound financial decisions.

[transam]

3 minutes ago, saengd said:

What I had intended to convey was that other posters would want to know the reason why "the Pound shot up" as you  put it, in fact the Pound didn't do much at all, the Dollar sank. People care about that because it's good to know if in fact your own currency is getting stronger or whether it's in the pan already and the other half of the pair just sank further, that sort of knowledge is more than just a little bit useful in making sound financial decisions.

Thank gawd I have no money to worry about.....