Thread: Dilernia model: GBP/USD

Hello, my name is Dilernia, I am a trader based in Sydney. I analyze global markets using various time frames, identify trends and then expect the pattern of greater probability during the trading week... (I am not interested in day-trading

The pattern of Friday, a reversal from the minimum to the level of 50% of the last 5 days, is a pattern that usually occurs within the weekly time frame. The level of 50% of the last 5 days is a trend guide for the weekly time frame: they are 5 days of operations, and this level defines the direction of the weekly closing... A lower weekly closing will normally try to rotate back up next week to the same level before deciding the direction of the trend... The current trend is bassist and the path is likely to continue falling to lower levels... I will try to warn of the next trade, I hope this time I will not be bathed again...

I have restarted this thread under the name GBP/USD analysis in larger time frames on the forex discussion forum...

Since my last post, the EUR has continued to fall as part of the 2-day stagnation reversal, and with the breaking of the minimums at 1,4686 target at 1,4626, 50% weekly level: high risk of operating long below the break-up area on Monday...

The pound sterling falls to its lowest level since 1985 The pound fell to its lowest point versus the dollar in 35 years, reflecting the unique vulnerability of the British economy to the disruptions that shake the global economy by the pandemic of the coronavirus.The period has fallen to the bottom of the gap, though it has plummeted quickly in the last days, losing another 2.5% against the dollar up to 1.18.It has lost only a tenth of its value this year.This movement puts the pound at its lowest level since March 1985.The pound is being dragged mainly by a global flight to the EU that affects all major currencies.But the accelerated fall in what is still one of the world's reserve currencies is being driven by fears that the freezing of the financial system interrupts the constant flow of capital on which the economy of the United Kingdom depends.The UK Falter needs foreign investment to keep its financial system healthy.We will probably see the downturn of the current accounts, said Jordan Rochester.

If the pound goes on like this, we'll soon see it in parity with the dollar. That would be an earthquake for the markets.

Dilernia, what do you think of the current fundamentals? Do you think they will keep pushing GBP/USD down or is it already oversold?

Excellent analysis as always, Dilernia. I appreciate you sharing your experience. I am short since 1.1780, any advice for closing?

Don't you think that with so much downward pressure the correction could be brutal at any moment? Sometimes the obvious doesn't happen.

This smells like bear traps, all waiting for historical minima, and suddenly a rebound that gets past the stops.