Reason for the pound going up?

Quote from T-Bone Trader:

Collapse?

It's done nothing but rally since I called 5100 a few weeks ago...

Can't LT-trade this thing - everything must be quick trades

GL
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I agree!

I made 2 trades on your call over a 27 minute time frame (you posted in the thread) and made $410.00, starting at 1:39 am Eastern, and finishing at 2:06 am. Ooh rah!:)
 
I may be wrong but to me the pound feels quite strong at the moment. It really should have broken to 1.60 and below on the recent 65 point puke in the S&P, yet it kept bouncing back from 1.62 to the 1.64-66 level. That makes me think there could be one last leg up to around 1.68-1.73 before the rally is over.

Long-term, I think the pound is toast.
 
As said it depends on your time frame.

The Yearly Chart gave a powerful bullish signal when a long term huge triangle broke up, then pulled back to perfect support (last years big bear candle) and it's been all up since that.

Now the Quarterly Chart looks poised to charge up to new highs. Time will tell if it continues to have that strength but for now is looks exceptionally strong.

Monthly we are at resistance but as the bigger charts call for more upside it's just a question of when - do we break up now or pull back before running further?

Weekly is also on resistance but showing underlying momentum to the upside.

Daily around 1.66 looks testing but pressure remains up the upside and any pullback looks like setting up a buy.

4hr adds resistance to 1.655

The 5 min is hitting support 1.6465
 
Quote from IShopAtPublix:

GBP/USD went completely wrong on me. With a stop the damage was minimal in financial terms and I did draw the trendline in the wrong place.
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I told you a long was the right position.......
 
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