Whilst I will not agree or disagree with this, mainly because I do not know anything 100%, I would say the absolute caning of 129 today by the longs cannot simply be attributed to a few long punters. We had already gone lower and it seemed obvious ...

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

Back up to test the 15m ema50. If it breaks this time, we're bullish.

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

OK, what are you basing that call on considering GBP has just jumped massively?

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

It's odd I agree. I would not imagine the pro's are buying big here and the severity of the moves away from 129 do not look like retail. Central bank maybe...?

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

Accumulation — Looks like some pretty heavy accumulation going on at 129.40 area. Each time this thing heads quickly to the low, it's swatted away. Still expect this to break though....

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

That's the point Dr G is trying to make. We all become confused by price action on the back of data. The issue is in our thinking, not our analysis. News is only worth noting purely for the purposes of potential price movement, neither higher or ...

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

Yesterday's low seems a psychological certainty. Long in just sick gambling at the moment.

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

There's a hint, (just a hint atm), of higher lows being made on the 15m TF. I'm long @ 130.14, but will cut if price falls below 129.60.

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

See Saw lol — And back up kissing ema50 on 5m and 15m. A break above coupled with bad US Retail data and we could be in for an up day.

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

GBP Spot and Futures have risen on lower volume. Sellers just having a breather IMO.

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

Short from 130.40. 100% retracement looks likely. All TFs now back below 50ema, no bullish divergence to speak of on any timeframe less than Daily. 1m and 5m are oversold, but until 15m is o/s, I'm short.

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

You would probably be wise to wait for the next candle. So often price crosses the 50ema only to cross straight back again.

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

Interesting couple of hours ahead I think. Price kissed 50ema on 1hr. 5m and 15m overbought, some TFs bullish, others bearish, volume picking up. Could be a battle ahead, but looks a little bullish to me.

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

SL @ B/E — Gunna let my small long ride it out. Set stop at b/e +1. I don't expect much from it to be honest, but geppy is so changeable, I don't want to second guess it.

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

Taken a tiny speculative long @ 129.21.

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

OK, 1995 low now breached. A bounce from here could be valid...

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

Price now at ema50 on 15m chart. Let's see if it rejects. Longs still too risky for me. Maybe I should be braver. 1995 low was not touched, so psychologically, I think shorts are still in play.

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

Some demand at the 130.00 area, but still, If you're buying this now, you have balls of steel.

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

Any longs are massively risky right now. I won't consider longing this pair until the ema50 is broken on the 15m chart. Until then, I'll be shorting this.

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

The question you, (and everyone else), need to ask is 'Is the smart money going long right now' I think not. Not until 130 gets trashed anyway..

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