Still think we should buy STG around 1.5850

This is a brief update. I acknowledge it is silly to project the pattern that the market will trace. If I were to do some wishful thinking, then it will be an ending diagonal triangle like what is shown on the chart. Take care. Ramki



3 Comments

  • KRISHNAKUMAR

    Hi Mr.Ramki,

    I have been following your trading call since last 3 months. It is really interesting. I appreciate all your good analysis works in FX.

    I got locked in sterling (long) at 1.67, do you expect GBP to bounce back towards that levels or should I cut it at current market level itself.

    I need your view on GBP from here…. now GBP s trading around 1.55 after touching a low of 1.5257

    thanks & regards

    Krishna

  • Ramki

    Hi
    I’m sorry to hear that you are caught long in Sterling. I think that we will run into some selling at 1.5740 initially and if, by some lucky chance, we recover to 1.5850 levels, that will find a lot more fresh sellers. For it to go back to 1.67 will now take a long time, unless the Bank of England intervenes. Ramki

  • KRISHNAKUMAR

    Hi Ramki,

    Thank you for your reply.

    I will wait for your more analysis report on FX.

    Thanks & regards

    Krishna

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