The Pound is just below a huge area at 1.5260.



If it is not going to spend too much time on correction, the next level up is around 1.5370.

So much for that Euro strength there.

Or cable, or Aussie, or Loonie, or Swissie, or yen, or...

Wow, shades of the '07-'09 meltdown. The ability to catch 10, 15, 20, even 30 point moves multiple times in a session (maybe even 6-8 times), and more in the overnight, it's just insane.

Darn, I was hoping for the +100 off Monday's low by the end of today. I guess I'll have to wait until the overnight session, although who knows, it may happen well before the European open. I have some stuff in the low 90's, but I can't imagine that even producing a reaction at this point. I am sure we will see new all-time highs before the end of the week. Now how does all this stack up with the options 'pin risk' in the 1800's? Well, I guess a lot of the 'smart money' is going bankrupt on this one. Anyway, I need 2083.25 for my +100. Too bad, too, my gut says sell this spot right here with the entire farm. Good thing I only respond to gut plus full technicals and 'context'. Don't fight the Fed. Fed loosens, market up. Fed tightens, market up. Makes sense.

And no, the above isn't a sarcastic post. I do expect new all-time highs, most likely before the week is out.

I want to short it (soooooooooo badly), and will be looking for the slightest weakness to consider pouncing, but with the attitude of not marrying the position, and being ready to turn on a dime. Otherwise, it's ride until this thing breaks, and keep leaning on the long side until proven 'wrong'.

I just want to short it right here sooooooo badly...

It was, indeed, a nice very short-term play. It's at the first area and it 'sees' it very strongly, as futures near their close. This is going to be an interesting night, and rest of the week.

And they did it (low of the move in low 20s so far) but with huge swings on the way. I wonder if this is a right time for a reaction in the Pound, at least a larger correction in the last move down?

Originally posted by MarcinO

It wants to get to 1.4930, I guess, DB at 60 seem like a preparation to trick people in.

No correction at all. 1.4840 soon?

It usually pays for me to follow my gut read on things...

Originally posted by jimkane

I want to short it (soooooooooo badly), and will be looking for the slightest weakness to consider pouncing, but with the attitude of not marrying the position, and being ready to turn on a dime. Otherwise, it's ride until this thing breaks, and keep leaning on the long side until proven 'wrong'.

Originally posted by jimkane

I just want to short it right here sooooooo badly...