You live in a cave? — lol, only kidding. Non Farm Payroll numbers MUCH better than expected.

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

Same here — Yea, I smell a trap. Closed shorts now and will wait for the break. Perhaps a pop up to shake out the weak shorts, then tankage after NFP. EDIT: Doh!! lol

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

lol — You need to get out more.

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

UK govt minister quits — Another UK government minister has resigned tonight immediately after the local elections. This is huge news and may prove very bearish for Sterling in the short term. Bulls beware.

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

4hr Divergence yesterday.... — Last hidden bullish divergence spotted yesterday. I think Raza is refering to this. image

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

Yep — Spot on. That's what I'm now looking for.

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

All adds up though — It all adds up to the same thing really though doesn't it? PM under massive pressure, backbenchers calling for him to go, the subsequent leadership challenge. He can't ignore that and if he does expect even more ...

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

didn't say he would — Well, I didn't say he would resign. Only that he may have no choice soon enough. He's on the brink, no doubt about that and if there's a challenge, the decision may not be his much longer. JMHO of course.

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

Bearish sentiment — in the UK this afternoon. Lots of anziety about whether Gordon Brown will resign. Certainly looks on life support right now that's for sure. Taken a speculative short at 156.27. Hoping for the break lower. I don't think the ...

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

Mark up.... — I'm flat now, not taking part in any further move higher unless I see buying volume. Volume been declining on 15m TF as price rises. Am ready for a significant sell-off though...... image

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

4hr — Nope, I see it too. Hidden bearish diverg on 4 hr TF.

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

Yep. — Exactly what i'm seeing too. Pretty huge hidden bullish divergence on 4hr TF. This needs to either play out or be invalidated.

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

Yes and.... — Yes, simpler than that thou is the horizontal support sitting from 156.81 to 157.05. Break that and we see 153.88. JMHOoc Big bullish divergence setting up on 4hr TF now too.

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

Key level — I'd stay out for now. We're at a key support level so a bounce up cannot be unexpected.

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

Iphonetrader — You're doing nothing wrong. You post some calls based on levels which you clearly state. You will rightly get flamed if it becomes clear you're angling to sell something, but until then carry on.

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

Something's happening.... — I posted the the other day about the Weekly 50ema sitting at 160 and that I would expect a significant bounce from there. Now after this morning's fall, some consolidation. This consolidation looks like Distribution ...

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

hee hee — Nice to see you back Eulogy. Everyone still think Sterling is too expensive? I can't say such a strong move hasn't surprised me, but there is no such thing as too cheap/expensive when you consider GY's range has been 118-251. Just ...

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

Look at AJ — AJ looks like it's running out of steam on 15m TF to me. Could be a decent benchmark for GJ this afternoon. image

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

excellent — You also said the trend is not your friend. Carry on the good work.

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

Weekly chart — Here's a weekly chart. 50ema at 160 and 38% fibo at 168. The last time the 50ema was breached was in October '07. Also, some big bearish divergence which hasn't played out yet. I would expect a significant bounce at 160 if we ...

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