Cable Update (GBPUSD)

close all my shorts..
start adds long

will look for longs in London session if it drops.

I think its better to sell GBP as it may fall more on data ahead

I think the move will not be what you expect it to be esp when it gets talked up so much

Well I have gone short so interested to see happens. Big drop this hour....

today important data will make GBP good ? don't you think so ?

It depends what kind of time frame, method you use. Yes currently it is falling.

In my method the PA can go against me even 100 to 120 pips.

Going Short on GBP/USD with tp at 1.30537 level.

Finally, GBP/USD has completed the second shoulder of the head and shoulder pattern and has breached the neck line. In coming hours, i think it will reach 1.30537 level.

Happy trading Guyz.

Actually, the Bank of England’s (BoE) decision is not that important today. It would only be relevant if the BoE, contrary to market expectations, decided not to raise its key rate. In that case, sterling would probably drop like a rock. However, in all probability there will be enough hawks among the MPC members to ensure a rate hike. After all, the economy is doing quite well. Higher rates can be justified, and the British economy will be able to cope. In addition, Brexit-related uncertainties remain high, and the BoE should be happy about each basis point which moves the interest rate away from zero. After all, the BoE does not have much room to support the economy by rate cuts if in the worst case activity slumped after March 2019. That is why I believe that the BoE will take this opportunity to hike its key rate by 25 bp, to 0.75%. The markets have already priced in such a step, which means that any effect on sterling will be limited.

Meanwhile, Prime Minister Theresa May is trying to win votes. She will break off her holiday in Italy to meet French President Emmanuel Macron in southern France tomorrow. Her goal is to get support for her White Paper (i.e. her Brexit vision, which she has struggled to push through in the UK), and she seems to be relying on bilateral talks after the EU rejected a key part of her plans last week. On Tuesday, Foreign Secretary Jeremy Hunt already visited Paris, and he is currently in Vienna. Many politicians and business people have tried to ignore the doomsday scenario of a “no deal” Brexit for a long time, but they need to face the facts. The risk that the UK will leave the EU without a deal by the end of March 2019 has clearly increased, and not just because the two sides are pitted against each other, but simply because time is running out. Parliaments in all 27 remaining EU member states will need to vote on a deal, provided that one is found. And we all know that the legislative procedure takes time. Of course, a last-minute solution may be possible, with an agreement being scribbled down quickly and parliaments voting in an accelerated procedure. But last-minute solutions are often not the best foundation for a stable long-term relationship. With a view to sterling volatility, I am concerned that the market still has not adequately priced in Brexit risks.

I hv made pips from it. Trail placed now waiting for 1.3000.

I am currently in with a sell from 3041, tight tp or I will let it go with some loss.
I think I'll start buying it in the 3040 area, I think ...

Seriously sideway market still have takers lol.... drop in to have a look. on the H4 front, it does resemble a bullish pattern setup, both lines in the sand at 1.3213 and 1.3071 as breakout lines

how much volatility in pips can we expect ?

radical thinking wait for the drop and buy long for nfp -

Sold this at 3126 as it breached the 50SMA on the 4hr chart. It's been trading under the 50SMA on the higher TF's too. Currently 45 pips in profit (holding out for 110), but B/E already set in case the news in 30 minutes sends price shooting up!

GU long for 100 pips

UC long. closed.

wowowo what news

Sometimes makes me wish I was a 'news' trader. Logic said price was going to go up, but my trading plan doesn't allow me to make it up as I go along.

I was so tempted to press 'buy' two minutes before the news, but stayed disciplined!

they drop it so well before the news to buy lower these banks are cruel lol . Than positive data releases and than in 20 minutes carney speaks and it may reverse.

funny world of forex

just want retails to get stuck in positions. Made some quick bucks and happy to be sideline