Cable Breaks MA

Thanks to Donal yesterday, some of us should have made good returns on the GBPCAD. After we mentioned about shorting this cross it had continued on for further weakness to the figure. At the time of writing this post the drop has been about 150 pips. Would those that took the trade and banked a good profit donate a portion of it to one of our charities please.

The Euro Dollar has dealt around the support we referred to and is undecided at present. Once again, those of you that took this trade and banked a profit (around 200 pips) please please make a donation to one of our chosen charities.

Lastly, we told you back on December 7th that the analysts were expecting the Cable to reach $1.98-$2.00 area. You can reach that update by clicking here. At the time of writing this we are at least 300 pips in profit on this pair. We are in the territory mentioned earlier but we have also broken the institutional moving average. This is a sign of further weakness to come but be aware as this could be traders remorse. Stops should be placed closer and scaling out would be a good option here. The daily Cable chart below shows the break of the MA.


Chart courtesy of Advanced GET. Data provided by eSignal.

All in all we have over the last two weeks produced about £6500. That is a nice profit for very little work so those that read this site and benefit from the updates please help others less fortunate than yourselves at this time of year.

Thank you for your generosity and good luck today.

Forex analysis by Anne and Javid