Weekend commentary – GBP and EURO shorts

With the prelim GDP release which happened to be -0.5% vs the expecting 0.5% I believe that there is still some room for SHORTING the CABLE{i got one position still in play} at least towards the "after the release" levels at 5750's in GBPUSD. COT report still looks bullish so from the LONGER term perspective I can see GBPUSD getting back to 6000 level. I am also interested in reactions around EURO pairs especially in EURCHF around 2800 and EURAUD around 3650's. If closes are happened to be strong and below these levels I am willing to take some action SHORTING these levels. With loud EURO-commentary supports  coming out of DAVOS we might see some gaps at the open supporting the EURO. I am ready to change my bias as soon as I will be proven wrong around mentioned critical levels. In a meantime my finger is on SHORT button.

I am also ready to watch carefully the 81.97 level in both CADJPY and USDJPY. I am ready to go LONG or SHORT depending on the price action. Currently I prefer USDJPY reversal LONG and CADJPY SHORT below 81.97 but I would need to see much more supportive action towards my hypothesis. That's for my T3 strategy. I am expecting to trade 9trading sessions this upcoming week {both VFI and T3} so it is going to be pretty busy week.

Take care and good luck with your trading.