GBP/USD Status

Back on May 28th, I said that the GBP/USD was in the process of moving up to the 1.5060 level shown here and also recommended a limit short at that level shown here.

Now, you should be in the GBP/USD short trade and currently positive over 100 PIPs. This is just the beginning of the trade. This week (June 28th – July 2nd) is a week of transition for the GBP/USD. It will kind of move sideways; however, we should be positive overall during this process of transition.

In the next month to two months, the GBP/USD will move to take out 1.4110. Therefore, 1.5060-1.4110 = 950 PIPs. This is the next movement. However, I am NOT LIMITING the GBP/USD movement from going even further. I am simply stating that the GBP/USD WILL make further lows and that is the next level of support. We might exit and enter at various times to capture even more profit; however, just taking that single trade will capture that much profit.

Happy trading!

LattePIPs

1.5060 target hit as forecasted a month ago here at LattePIPs!

Alright! On our GBP/USD trade, 1.5060 has been hit! Woo-hoo! For those of you who entered and held your GBP/USD long trade from the posting here, it has so far moved a total of around 700 PIPs! That’s not bad for holding a trade through only 13 trading days! That equals 54 PIPs/day or 270 PIPs/week! …from just holding one trade! Of course, I recommended particular entrances and exits within that timeframe just to capture even more profit. However, if you were patient and wanted to just hold your trade, then your patience literally paid off.

From the posting here, you should have placed a limit sell @1.5060 and are currently in a short position. This is a long-term short position. The market may move against us a bit; therefore, just hold this trade. This is a multi-month short position.

I’ll provide further updates later.

Happy trading!

LattePIPs

Status of GBP/USD trade

Alright, from the entrance recommendation I provided here less than 2 days ago, your GBP/USD trade should be in the range of +195 PIPs or so.

At this point, I recommend placing a limit on your existing trade @1.5060. This is the price I have been talking about since May 19th, and which I specifically called out here almost a month ago on May 28th.

I also recommend placing a separate entry order of a Limit Short @ 1.5060.

Therefore, having a limit on your existing trade @ 1.5060 will close your existing trade at that specific price. Then, the separate entry order will take you into the market shorting the GBP/USD at 1.5060.

I’ll provide further updates later.

Happy trading!

LattePIPs

GBP/USD

I have exited my GBP/USD short trade and have entered long on the GBP/USD. I will provide updates later.

Happy trading,

LattePIPs

The current GBP/USD trade

From the short entrance recommendation I provided here, your trade should be around -15 pips or so. This has been some bizarre movement on the GBP/USD. I did not think it would move up to 1.4915 so soon.

So, here’s where we are…either 1) the GBP/USD will continue moving up toward the 1.5060 level I forecasted here, or 2) it will continue moving down. Personally, I think it will continue moving up for the next couple of days. Therefore, you can either:

1. Exit your current GBP/USD trade and enter going long
2. Stay in your current GBP/USD short trade and wait for my signal to exit and go long

Personally, I’m staying in for right now to see what the GBP/USD is going to do. I’ll provide updates later.

Happy trading,

-LattePIPs

Enter GBP/USD Short now

Enter a short now on the GBP/USD to target 1.4500. (300 PIPs away since the GBP/USD is currently at 1.4800)

Ok…so I was correct after all

Alrightee-then…

Good news…it was really, really, really early when I recommended going short on the GBP/USD, but it looks like I was correct after all. Even though my strategy signals early moves, I still like to be conservative and verify my signals. Otherwise, we’re stuck holding a position which we would NOT want to be holding.

Bad news…we would be in a nice trade right now. Oh well…that’s the way it is. I’ll be providing another post here in the next 24 hours for another trade idea.

-LattePIPs

Exited GBP/USD Short

Yesterday, I provided an early, early, early, really early…probably too early short (sell) recommendation.

I have closed my short trade for now and am sitting on the sideline. I thought I had a particular longer-term (multi-day) short signal, but read it incorrectly yesterday. Having said that, the current status of the GBP/USD STILL looks VERY WEAK in moving up any further; however, I do not have a multi-day short signal yet.

Happy trading,

LattePIPs

Exit GBP/USD long positions for now

I wrote here that I was a little concerned about the strength of the GBP/USD movement up.

I recommend exiting your GBP/USD long positions for now and potentially enter a short position. (If you enter a short position, try to enter at a key level of resistance.) The GBP/USD is currently at the 1.4800 area.

I’ll write more later when I have more time.

GBP/USD Update – still moving as expected

Hi everyone. I have been discussing this current move up on the GBP/USD since May 19th. For those of you who took my recommendations here, you are currently positive over 200 PIPs.

What the GBP/USD has been doing for the past few hours has been moving up and down in 50 pip movements:

• it failed to take out a short-term level of resistance
• then fell back to a level of support
• then it took out a short-term level of resistance (1.4788)
• and is currently retracing to a level of support (1.4744)…actually, during this writing, it has already retraced to 1.4744.

Now that the GBP/USD has reached the 1.4744 area, we are immediately targeting 1.4915 during the next move up. If the shorter times break against our longer-term trade, I will let you know. If that happens within the next few hours (maybe next 4-8 hours), then the GBP/USD will fall down to 1.4495. If that does happen, we will want to exit our profits before it moves down to 1.4495.

If the current movements are not strong enough to push the GBP/USD up to our 1.5000 area, then it could definitely turn around and begin moving back down into the Daily downtrend. Either way, we can still make positive trades, I just want to state the possibilities. Before that happens, of course, I will let you know ahead of time as usual. The GBP/USD has already hit our first long-term target (1.4780) documented here. Sometimes this happens where the currency pair just isn’t strong enough to perform the full move of the retracement and goes back into the full move of the trend. I’m referring to the 4hr as the retracement move up within the current Daily downtrend. (You can read more about these terms here.)

Happy trading!

LattePIPs