Volatility in GBP/USD

November 16, 2007 | By Keong Hee In Daily Post |

Lately, the forex markets have been very volatile. These are times where extraordinary news events may cause you to be stopped out more frequently than in normal market conditions. Seasoned traders will just consider this phenomenon as part of the business of trading. Some people might choose to stay away if they don’t feel comfortable with the volatility, especially of the GBP/USD.

Incidentally, the GBP/USD has dropped by about 700 pips within 4 trading days - from 2.1160 (on 9 Nov) to a low of 2.0410! Based on some of my Elliott Wave analysis, I’m expecting it to shoot for levels near 2.1160 in the coming days, allowing for possible consolidation and slight further downside! Such is the volatilty of the GBP/USD!!! Any trader who has the guts can make hundreds of pips within days!! I think it’s a rare opportunity! Let’s see what happens!!

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1 Comment so far

  1. SherDyele on January 22nd, 2008

    Hello!
    Nice site ;)
    Bye

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