15.03

CB consumer confidence comes out at 50.4 vs forecasted 51.3.

GBPUSD fell over 45 pips from it’s high of 1.5576. Might be a struggle to get back up there.

Going to get a reasonably early night so signing off for today.

Hope you’ve enjoyed today’s updates.

14.04

Well GU got as high as 1.5576 but is now pulling back to 1.5550 and possibly even lower. The 85 EMA sits at 1.5496 currently.

EU has taken a severe dis-liking to going to 11 week highs and has dropped like a stone in the last 20 minutes.

I mentioned USDJPY last week when it was stalling at yearly lows and its not looked back since and now approaches 88.00.

13.23

GBPUSD continues its resurgence and gets to 1.5550. It would be some achievement to clear the 200 day SMA and it opens up all sorts of areas for GU.

CB consumer confidence for the US is due out at 1500 BST and any weakness will probably be targeted by the bulls.

EURUSD gets to an 11 week high also and the range stands at 89 pips so it is possible further gains could be seen.

I like looking at the daily range as it gives you an indication of how much room the pair can possibly go before it becomes an above average day.

Whilst writing, GU pushes to 1.5562, could be some backlash as it’s getting overbought quite quickly. A 10-20 pip pullback wouldn’t be a surprise.

11.44

GBPUSD hammers up from 1.5440 on the back of CBI realised sales. It’s given the bulls another run up to 1.5530 which was initially rejected and sent back down and currently sits at 1.5515.

200 day SMA sits at 1.5555 which hasn’t been surpassed since 29th Jan.

Been a bit of a wild day so far for GBPUSD.

11.41

GBPUSD hammers up from 1.5440 on the back of CBI realised sales. It’s given the bulls another run up to 1.5530 which was initially rejected and sent back down and currently sits at 1.5515.

200 day SMA sits at 1.5555 which hasn’t been surpassed since 29th Jan.

Been a bit of a wild day so far for GBPUSD.

10.17

EURUSD has dropped 30 pips since last post. It’s only moved 49 pips which means it has potential to go at least 70-100 pips further if it is be an average day.

I’m off for a break, should be back later.

Hopefully these updates are worthwhile to a few.

09.38

Big negative correlation between GBPUSD and EURUSD. I suspect EURUSD is just waiting to get spanked off 1.3027-1.3030.

Should be interesting to watch either way.

09.03

Just back from picking up my wife and I see GU failed to neogiate 1.5520 and has since dropped quite heavily. TUFXP had a winning trade but I missed it as it must have triggered the minute I left! Nevermind, I’ll keep my eye out for any other possible setups.

GBPUSD has closed beneath the 85 EMA now after a small bounce off it and now encounters 1.5460. If it can clear this then I’d suspect 1.5430 to provide some support.

Range stands at 69 pips and any further move south will add to the total.

07.57

I’m off for now as GBPUSD is annoying the crap out of me. Keeps running up to 1.5520 and then reversing right off the cam level.

TUFXP has attempted to signal over 5 trades! lol. I’ll hopefully come back to a more settled GU.

Good luck everyone.

07.28

Market went to overbought conditions on shrot timeframe pre European open and then promptly drops 25 pips before rallying hard to punch to new highs. Now dropping hard from new highs. Not very good trading conditions right now for TUFXP.

06.48

USD index slips to lowest level since May 3rd at 82.07. The $ index measures the performance of the USD against a basket of currencies including GBP, EUR, JPY, CAD, CHF and SDK. Obviously the lower the index goes, the higher GU and EU should go.

06.43

A little question for the few readers out there. My blog numbers tell me it’s getting busier by the week but response to posts/questions/requests is minimal to say the least. Are all my hits from bots or are most of you the silent type?

06.13

Morning guys, not much time today as looking after my daughter then picking up my wife from work so will have to probably wait until later for some proper trading.

No key news events today so prices will have to be driven by technical analysis and maybe some left over sentiment over the stress test results.

GBPUSD has moved 25 pips thus far and a break of 1.5503 will see that increase. The 85 EMA sits at 1.5480 and is beginning to flatten out. I wouldn’t be surprised if we head down today unless 1.5500 can be cleared properly.

EURUSD meets a potential resistance point at 1.3028 and would need to close above on several candles before it’s passed.