Why Is Cable Falling? | Forex Factory

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Why Is Cable Falling?

  • #1
  • First Post: Feb 28, 2007 2:28am Feb 28, 2007 2:28am
I don't have a clue, so could someone please explain?
  • #2
  • Feb 28, 2007 2:44am Feb 28, 2007 2:44am
Because it should be. There was no reason gbp to be strong against the dollar at all. People were just being silly holding it up there for 2 days.
  • #3
  • Edited 2:47am Feb 28, 2007 2:45am | Edited 2:47am
British are buying Gold and Gold is traded in USD ?
  • #4
  • Feb 28, 2007 2:47am Feb 28, 2007 2:47am
Quoting Takisd
Because it should be. There was no reason gbp to be strong against the dollar at all. People were just being silly holding it up there for 2 days.
All the signs began showing a fall was very possible Monday. It just took it a while to do it with all the Yen mania going on. If it can hold below 1.9550... it could hit 1.9500 area. Realisticly looking at 1.9535 Short term which it may have already hit in the past 40 minutes. I'm away from charts at the moment.
Show me the PIPS!
  • #5
  • Feb 28, 2007 2:47am Feb 28, 2007 2:47am
Quoting southernmind
I don't have a clue, so could someone please explain?
Supply and Demand.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #6
  • Last Post: Feb 28, 2007 2:51am Feb 28, 2007 2:51am
I am new to trading my self. I think you should read the thread "Cable Daily Analysis"

It is very informative

Based on what I know the pairs move up and down based on support and resistance, or highs and lows. Highs and lows are calulated on charts, you should research fibs and all that other stuff

I know this soound very elementary but your questions sounds like you are new to trading. I think the cable is over bought
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