in long run pound is destined to go down in order to improve the UK's balance and get rid of huge deficit and get out of recession. in that view there the value of pound is still overvalued a lot. IMHO

Auslanco - GBP/JPY and GBP/USD (newstrade)

who am I? where am I?

Auslanco - GBP/JPY and GBP/USD (newstrade)

huge drop may not happen but $900 we might see again when USD shall raise up again IMHO

Auslanco - GBP/JPY and GBP/USD (newstrade)

it might be a mistake; last year the correlation was opposite: Gold dropped to $700/oz when GBP-JPY was about 120 area

Auslanco - GBP/JPY and GBP/USD (newstrade)

when price moves within a half of channel it might be a sign of possible swing IMHO

Auslanco - GBP/JPY and GBP/USD (newstrade)

please clarify how do you count waves 1, 2, 3?

Auslanco - GBP/JPY and GBP/USD (newstrade)

GBP situation is similar to USD; due to high deficit they both (USD and GBP) are targeting to loose their purchasing powers because it is the only way out of that problem (otherwise fiat money shall be abandoned)

Auslanco - GBP/JPY and GBP/USD (newstrade)

low/decreasing volume with uprising price usually means correction of main bearish trend

Auslanco - GBP/JPY and GBP/USD (newstrade)

malc is right with broader view; GJ is seriously bearish on weekly targeting 137. the reasons: 1. closed under Gann om weekly; 2. this week is 4th candle (usually in opposition of main trend 3. RSI is below 50 4. Stoch is below 50 line of course ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

first GJ needs correction on its move down due to several reasons: 1. RSI on DTF is oversold 2. MACD bullish divergense 3. doji on daily 4. LTD of wolfwave touched 5. LTD of BB on DTF marked down

Auslanco - GBP/JPY and GBP/USD (newstrade)

on saxo GY dropped to 13.11! and EU to 1,26225!

Auslanco - GBP/JPY and GBP/USD (newstrade)

on daily we might expect geppy ranging between 153.2-146.8 now she is trading within Ichimoku cloud and if level 153.5 is broken we might see 156.5 too (which seems to me highly unlikely IMHO)

Auslanco - GBP/JPY and GBP/USD (newstrade)

unfortunately, my opinion is opposite one; I see the general direction as strong southern on 4hTF; geppy is trading well below Ichimoku cloud; also on 1h she is trading right within the cloud on strong support /resistance Murrey math level

Auslanco - GBP/JPY and GBP/USD (newstrade)

daily is ranging and forming a symmetrical triangle

Auslanco - GBP/JPY and GBP/USD (newstrade)

I agree with you that general direction now is southern but feel that we might see some move up too because geppy is ranging now in Ichimoku cloud with pressure for upper move due to pin bar outside of Bollinger bands on daily. retest 153 is ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

looking at daily and current 4h set up I'm not sure about drop right now, m thinking long to 159.2 or more; both GU and GJ have potential for upside move IMHO

Auslanco - GBP/JPY and GBP/USD (newstrade)

GU is not forming H&S; it is in "handle" slowly descending channel with possible huge break 700-1000pips; I feel GU is coming to final test of upper line

Auslanco - GBP/JPY and GBP/USD (newstrade)

all currencies move irregularly? — it looks like all main players are very much concern about future of all markets; all currencies looks highly irregular on charts with sudden jumps and free falls. is really recession OVER?

Auslanco - GBP/JPY and GBP/USD (newstrade)

H&S chart is updated

Auslanco - GBP/JPY and GBP/USD (newstrade)

4h was closed over Gann and now igeppy is on the way to accomplish H&S; the further direction shall be observed after any of green triangle lines is broken

Auslanco - GBP/JPY and GBP/USD (newstrade)