The most untradable currency continues to be most profitable for fxcot in the last 2 months.
The daily shows a rejection of the 100 dma at 1.29. The trend is down. We are near breakdown point at 1.2830.
GBPUSD Weekly: Broken down
The rejection at 1.32 was telling as markets have decided to correct the prices to brexit lows.
GBPUSD Monthly: Headed 1.2
On the monthly charts, there is a vague possibility of a double bottom being made but given the fundamentals, that looks near impossible. We look forward to a retest of the Jan 2 lows of 1.24.
As you can see, stay with big money here and this will clean out 1.2 before BREXIT gets underway. There is no deal and no chance of any deal. GBPUSD is a clean sell at 1.2850 and lots of downside. However it will have frequent sharp rallies as profit taking ensues. This gives great chance to reeneter at key levels. FXCOT has been trading it constantly and the automated algo trades on pivot levels which is highly successful in GBPUSD trading.
The FXCOT system which is absolutely free for clients who want to trial the system, has been running succesfully on clients machine for the last many months. The Feb returns show +7.8% returns added.
The system trades EURUSD, GBPUSD, USDJPY and GOLD.
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