GBP Currency Pairs Market Outlook Tuesday 28 October 2014

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GBP Currency Pairs Market Outlook Tuesday 28 October 2014

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Posted on: 28th Oct 2014

Today�s live Forex daily market overview is a special request by an elite (A.I.M) Asset Investment Manager. Based on the request, GBP currency pairs will be reviewed instead of the regular one currency pair market view. The seven GPB currency pairs traded in this portfolio are GBP v CHF, GBP v CAD, GBP v NZD, GBP v USD, GBP v JPY, GBP v AUD and EUR v GBP.

Bullish directional bias was favoured today on all seven GBP currency pairs for one reason; all current active eight positions on GBP v AUD are sell orders with profit target at 18110 which is less than 200 pips below current market price at 1230 GMT.

Current open sell orders on GBP v AUD are 1 micro lot executed at 17939, 3 lots at 18035, 8 lots at 18090, 20 lots at 18190, 35 lots at 18290, 55 lots at 18390, 85 lots at 18490 and 130 micro lots at 18590. Based on the 50% retracement rule for all open positions in any currency pair, profit target should be at 18265 not 18110.

Open positions today Tuesday 28 October 2014 stands at 45 orders; equity above �125,000, usable margin �120,000, usable margin percentage 97% and pending orders at 46. Buy active positions are on EUR v USD, AUD v USD, NZD v USD, CAD v CHF, NZD v JPY, EUR v JPY, GBP v CHF, GBP v CAD, GBP v NZD and AUD v JPY. Sell orders are on AUD v JPY and GBP v AUD. Both buy orders on CHF v JPY closed today at 11390 with a net profit of �465.05 at 11:20 GMT.

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