GBP/USD and GBP/JPY New Trades and Trade Results

Brian Twomey Brian's Investment

GBP/USD weekly trade as posted short 1.3359 to target 1.3127 traded to a bonus 1.3419. At a 60 pip bonus, the only choice available was to add 1 lot at 1.3419 or anywhere in the vicinity.

The common theme this week was missed entries and this happens in certain weeks but the key is to understand the extra pip profits the market offered. Missed entries however are never far off from the actual recommended entry point.

At 1.3419, 2 trades were running from 1.3419 and 1.3359. Both trades achieved targets at 1.3127 for a total of 524 pips. Broken down by 292 pip from 1.3419 and 232 pips from 1.3359.

GBP/JPY short from 145.75 to target 142.88 traded to a true bonus at 146.77. Add 1 lot anywhere in the vicinity of 146.77 and trade to target. Now 2 trades ran from 146.77 and 145.75.

GBP/JPY traded to lows 143.06 and both trades are running +640 pips broken down by +371 pips from 146.77 and +269 from 145.75.

Total 2 GBP trades and 2 day total running 1164 pips. GBP/JPY contains 18 pip to target.

USD/CAD entry at 1.3166 to target 1.3223 traded to lows 1.3115 and note the common theme this week to missed entries. Add 1 lot to 1.3115 and trade to 1.3223 target. Highs this week achieved 1.3184 broken down by +69 pips from 1.3115 and +18 from 1.3166 for total 87 pips.

Overall, trades are few but profit high and this is ongoing for the past 16 years.

GBP/USD

GBP/USD massive supports are located at current 1.2950 and 1.2928. A break at 1.2928 requires GBP/USD trade to 1.2992. This achieves by a break lower at 1.3055.

Higher to short again for the week is located at 1.3182 and 1.3213 to target 1.3055 then 1.3029. Inside the price path to 1.3182 is day trade top at 1.3161. For today only, short 1.3161 to target 1.3055 and 1.3029. GBP/USD at 1.3055 and 1.3029 will bounce to easily 1.3128.

GBP/JPY

The 142.88 target must break 143.02 then next 142.81 and 142.61. GBP/JPY will bounce from 142.81 and 142.61 to target easily 143.68. New weekly shorts are located at 143.84 and 144.24.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

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