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Cable Update (GBPUSD)

  • #132,021
  • May 13, 2009 2:31am May 13, 2009 2:31am
I think its going down to its take profit at around 5175. and then will climb and break 5350.
  • #132,022
  • May 13, 2009 2:44am May 13, 2009 2:44am
Quoting george_d
Is gbp/usd will go down or will break 1.5350 ?
no one can predict future here everyone works here with support and resistance and mrket works fundamental and technical it will break but when nobody knows

Ub
  • #132,023
  • May 13, 2009 3:10am May 13, 2009 3:10am
Quoting JimmyF23
I think its going down to its take profit at around 5175. and then will climb and break 5350.
Agree...! that was what i thought since yesterday
- Always pray on your trading - God know the best for everyone
  • #132,024
  • May 13, 2009 3:12am May 13, 2009 3:12am
wave analysis
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  • #132,025
  • May 13, 2009 3:23am May 13, 2009 3:23am
Quoting derek
wave analysis
Hi Derek,

Wave (3) looks a bit short to me. Could it be subwave (i) of wave (3) instead? Which means we could be in wave (iv) correction and have still a bit to go yet before wave (3) is complete.
  • #132,026
  • May 13, 2009 3:36am May 13, 2009 3:36am
Hello everyone.
I am not sure if shorts would be the best way to go right now. I will be expecting a fall further south before entering short. As my daily chart shows a great potential to fall down, my 1H hit an uptrend's median and its acting as a support.
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  • #132,027
  • May 13, 2009 3:41am May 13, 2009 3:41am
Quoting Galatasaray
Hello everyone.
I am not sure if shorts would be the best way to go right now. I will be expecting a fall further south before entering short. As my daily chart shows a great potential to fall down, my 1H hit an uptrend's median and its acting as a support.
I also agree that it's abit early to enter short now..
I'm looking at 1.54 as major resistance and a potentially good price to short for a swing trade. What about you?
  • #132,028
  • May 13, 2009 3:47am May 13, 2009 3:47am
Quoting Ipips
I also agree that it's abit early to enter short now..
I'm looking at 1.54 as major resistance and a potentially good price to short for a swing trade. What about you?
yes it is.. my chart 2 posts above is playing out nicely now as the median is tested and the pair went above it for further 30 pips.
Staying away from shorts. Though if an hourly chart closes below 1.5255-50 than i might consider shorting the pair.

But there is no way that i will enter long today as my daily shows further southern action.
  • #132,029
  • May 13, 2009 3:48am May 13, 2009 3:48am
We're now seeing the rocket up to 1.54 after the weak longs have been taken out..
  • #132,030
  • May 13, 2009 3:57am May 13, 2009 3:57am
Quoting Ipips
We're now seeing the rocket up to 1.54 after the weak longs have been taken out..
dont you mean weak shorts?
  • #132,031
  • May 13, 2009 4:01am May 13, 2009 4:01am
Quoting rolybyon
dont you mean weak shorts?
oh i meant the weak longs that were taken out by the fall in price to 1.5242..
  • #132,032
  • May 13, 2009 4:04am May 13, 2009 4:04am
already take 70 pips, on strong level 250

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History Levels GBPUSD

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  • #132,033
  • May 13, 2009 4:06am May 13, 2009 4:06am
Quoting errich fx
already take 70 pips, on strong level 250
Good job errich fx, where do you see this heading today?
  • #132,034
  • May 13, 2009 4:15am May 13, 2009 4:15am
Where are we expecting this to go after the Inflation report in 15 minutes - any ideas ??
  • #132,035
  • May 13, 2009 4:42am May 13, 2009 4:42am
any info about
BOE Inflation Report
  • #132,036
  • May 13, 2009 4:48am May 13, 2009 4:48am
GBP is down across the board do you guys know why?
BANDA333
  • #132,037
  • May 13, 2009 4:49am May 13, 2009 4:49am
Correction from the bad news now, 1.5200 buy?
  • #132,038
  • May 13, 2009 4:50am May 13, 2009 4:50am
hi

1.5183 is key area if it hold it will go up again or we will see 1.5123 and 1.5063
  • #132,039
  • May 13, 2009 4:51am May 13, 2009 4:51am
Quoting deboooo2005
any info about
BOE Inflation Report
http://www.bankofengland.co.uk/publi...t/ir09mayo.pdf

havent had time to digest and summarise yet
  • #132,040
  • May 13, 2009 4:53am May 13, 2009 4:53am
Quoting juhanimi
Correction from the bad news now, 1.5200 buy?
A bit more to the down side yet I think. Mervin King's speech was pretty dovish.

He is also pretty clear that GBP needs to be low.
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