December 17, 2018 07:10: Pound/yen and pound/dollar trading strategy [From Mr. Tetsu Emori's email newsletter]
From the investment newsletter "Tetsu Emori's Real Trading Strategy" by Tetsu Emori, provided by GogoJungle, here is a small portion from this morning's delivery. This time, please take a look at the trading strategies for the GBP/JPY and GBP/USD.
GBP/JPY will unwind long positions. A short is considered if it falls below 142.70. Fair value is 170.00 (as of late Oct 2018). The long-term trend is 149.40.
GBP/USD will unwind long positions. A short is considered if it falls below 1.2585. Fair value is 1.4974 (as of late Oct 2018). The long-term trend is 1.3200.
From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori)quoted.
Safe-haven inflows strengthened, pushing GBP/USD down on the 14th. It has since recovered to the upper-50s of the 1.25 range, but the downward trend seems likely to continue. (Editorial staff)
GBP/USD, 1-hour chart.