Cable Update (GBPUSD)

Today was a good short day. Shorting everything to hell!

Hold your short men

My 84yr old dad moves quicker than this, what a drag

short only

Investors are back to safety... Tension over US - China - Taiwan.
BoE rate on Thu, volatility will be high.
Can we trust media?

Looks sell until Thu, buy if bank rate increase by 0.50%.

Here is from Reuters-
''British pound weakened against the dollar and euro on Tuesday as traders turned to safe-haven currencies amid rising U.S.-China tensions over Taiwan, with traders looking ahead to a Bank of England policy meeting this week.
The pound was down 0.5% against the dollar at $1.22055 pence , and versus the euro was down 0.23% at 83.910 pence .
The BoE will announce its decision on Thursday, with investors now pricing in an 95% chance of a 50 basis point hike, a bigger increase than the previous four hikes as the central bank rushes to contain soaring inflation without exacerbating an economic slowdown.
"Short term, if the BoE opts for a 25bps hike on Thursday I think sterling will lose ground. The market is expecting at least a 50bps hike and Bailey has kind of suggested this will indeed be delivered," said Stuart Cole, head macro economist at Equiti Capital.
Any boost from a 50 bps increase is expected to be short-lived, he added.
Mortgage lender Nationwide on Tuesday said British house prices rose in July at the slowest monthly pace in a year and the market is likely to slow further as the cost-of-living squeeze tightens and the Bank of England keeps on raising interest rates.
"The UK is probably facing the toughest battle against inflation among the G10; the economy is already showing signs of slowing; relations with the EU, still the UK's most important trading partner, are showing no signs of improving", said Stuart Cole, head macro economist at Equiti Capital.
As with most currencies, sterling has lately struggled against a strong U.S dollar, with market risk aversion naturally favouring U.S assets" .

USDCHF ready to go up again, still waiting for further confirmation but should be easy money

trying to catch the reversal

Last push for bulls?

Gbpaud short tp 1.75613. At tp go long

Tempting to go long from 12150 to 12320.

Can go eighter side really, 12660 or 11760, lets wait to see direction of wind blow.


To add to my previous post, 0.5% is estimated figure, possibly priced in already, very interesting.
On a sad note mortgage rates rising on a monthly basis, hard to keep it up with non stop changes.

GU sitting on Daily support @12170 need some follow thru here -- its trying

Asia might attempt to brake overnight, as GU already moved
- 110 today.

Jolita Gbpusd trend is downwards

Gold trend also downwards

For anyone needing GU daily Levels here it is

Coreg please would you post a chart for gold and Gbpusd. Many thanks

if your short Gold already i would target 1710 then 1680 . just my 2cents

Not when it changes Houtbay.
I was on a wrong side before when GU was at 1.41.

We have 3 weeks of uptrend, structure has changed, we have weekly bo. We might at some point retest bo area once again, maybe circa 1.19.
Also, a possibility this is only a retracement or a fake out, no one knows for sure. I am ready for any scenario.
At this moment we don't know where we are heading, mm are making confusion first, will drag weak traders in a corner, real thing will come out later.

Please explain your views.
My greetings to your dear wife.

Wk chart

Sweet of you. Thank you. How are things in the U.K. I spent four years there pre 2000 at City hospital in Nottingham. I could not get used to the winters and the darkness. No one smiles in the U.K.