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Cable Update (GBPUSD)

  • #474,961
  • Feb 19, 2019 9:54pm Feb 19, 2019 9:54pm
GU pending buy trigger @ 1.3058
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #474,962
  • Feb 20, 2019 1:25am Feb 20, 2019 1:25am
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Morning I missed yesterday's move but I did have that 143.700 target on gj so into a short on that one now and Gu won't let you get away with that amount of move without taking it back
  • #474,963
  • Feb 20, 2019 1:28am Feb 20, 2019 1:28am
Quoting khalid33
trade of the week .. short 1.3060 .. stop 1.3080 .. target 1.2960 .
Hope you are rite
  • #474,964
  • Feb 20, 2019 1:49am Feb 20, 2019 1:49am
The Brexit process seems to have been livened up again. The “Malthouse compromise” is making the rounds, a joint proposal by Brexit hardliners and more moderate Tory MPs. Is that the beginning of a last-minute breakthrough? The content is nothing but a repetition of the old idea (also known as the “max fac proposal”) of avoiding an Irish border with the help of a “technological solution”. So exactly the same idea that had already been discarded in the negotiating process long ago. And it had not been discarded because the idea in itself was bad, it had failed because British politics are very good at talking but in the 2 ˝ years of the negotiating process have failed to make any efforts whatsoever to develop such a technological solution. The idea is discredited by the fact that none of the parties involved has the slightest idea what such a technological solution could look like, how long it would take to develop and implement, how much it would cost and how exactly border traffic would work once it was in place. The ideas of the politicians seem no more concrete than those of a layman who has the impression that somehow – in times of self-service supermarket tills – the whole thing should be possible.

And moreover: the Malthouse compromise has been suggested at the last minute, as Prime Minister Theresa May wants to meet the President of the EU Commission Jean-Claude Juncker today. Will she be able to make an attractive proposition this quickly, considering the Tories only agreed on its basic outline on Monday evening? In view of the complete inefficiency of the British government system that has become obvious over the past few years doubts are justified. Juncker himself has so far sounded very sceptical about the likelihood of success of his talks with May.

The FX market rewards the last-minute operational bustle with significant GBP strength (EURGBP below 0.87, GBPUSD above 1.30). What did it expect? That the British politicians would sit back and wait until time runs out on 29th March? It would seem that even small things are enough to make the GBP investors happy at present. I would warn against using this as an opportunity for poorly diversified GBP-long bets. The likelihood of a no-deal scenario seems to have fallen a little again, but certainly not far enough for tactical plays in GBP. As GBP risk in case of a no deal can be expected to be very significant, marginal changes in no-deal probabilities should not change the strategic attitude towards GBP risk. And in general the market reaction illustrates that the market reacts much more to GBP positive news than to GBP negative ones. That suggests that in case of a no deal scenario the market reaction could be very pronounced as many would be caught on the wrong foot.
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  • #474,965
  • Feb 20, 2019 2:35am Feb 20, 2019 2:35am
Next is 1.3022, then it moves to 1.2984.
Sell from 1.3050
follow the flow of music $
  • #474,966
  • Feb 20, 2019 2:37am Feb 20, 2019 2:37am
Quoting danc
{quote} Hope you are rite
Yup
follow the flow of music $
  • #474,967
  • Feb 20, 2019 2:40am Feb 20, 2019 2:40am
long @ 1.3039 stops 1.3030 possible W formation on the m5 might reverse from here
  • #474,968
  • Feb 20, 2019 2:50am Feb 20, 2019 2:50am
over 2000 point down i am looking at then
ill wait for long ( hope ) hehe
g.nite 3am in houston
  • #474,969
  • Feb 20, 2019 3:01am Feb 20, 2019 3:01am
Quoting Abrar1299
long @ 1.3039 stops 1.3030 possible W formation on the m5 might reverse from here
Testing over for 1.3029, now its move next resitance down @1.2995
follow the flow of music $
  • #474,970
  • Feb 20, 2019 3:05am Feb 20, 2019 3:05am
Gbp pairs formed 15min H&S pattern,indicating at least temporary tops.
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  • #474,971
  • Feb 20, 2019 3:36am Feb 20, 2019 3:36am
Quoting ganam
{quote} Testing over for 1.3029, now its move next resitance down @1.2995
jumped in a bit quickly without confirmation but forgot to set hard stops . dxy is going down if only the eurgbp flips back to the downside (possible area of reversal 0.8715-20) it can easily go back to 1.3060-75
  • #474,972
  • Feb 20, 2019 4:12am Feb 20, 2019 4:12am
Quoting Abrar1299
{quote} jumped in a bit quickly without confirmation but forgot to set hard stops . dxy is going down if only the eurgbp flips back to the downside (possible area of reversal 0.8715-20) it can easily go back to 1.3060-75
not thinks , its testing again the 1.3029, you can see in @1.3000
follow the flow of music $
  • #474,973
  • Feb 20, 2019 6:58am Feb 20, 2019 6:58am
still think there is some resistance up here, and we are do for a pullback anyway, will offer some at 1.3095 today...
Look Sharp/Trade Tight
  • #474,974
  • Feb 20, 2019 7:17am Feb 20, 2019 7:17am
today dollar will strong .... but i hope not
  • #474,975
  • Feb 20, 2019 7:34am Feb 20, 2019 7:34am
Quoting PayTheLimit
still think there is some resistance up here, and we are do for a pullback anyway, will offer some at 1.3095 today...
its again pushing down i think so @1.3000
follow the flow of music $
  • #474,976
  • Feb 20, 2019 8:47am Feb 20, 2019 8:47am
)))
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  • #474,977
  • Feb 20, 2019 9:41am Feb 20, 2019 9:41am
Quoting Abrar1299
{quote} jumped in a bit quickly without confirmation but forgot to set hard stops . dxy is going down if only the eurgbp flips back to the downside (possible area of reversal 0.8715-20) it can easily go back to 1.3060-75
that EURGBP flip from 0.8714 with dxy weakness secured the bottom for the cable looking for 1.3095 with my last long position.
  • #474,978
  • Feb 20, 2019 10:50am Feb 20, 2019 10:50am
im still short and holding for another 6 hours then today should be pretty much flat.
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  • #474,979
  • Feb 20, 2019 11:00am Feb 20, 2019 11:00am
looking around 1.3125 for a bullish breather and potential turning point
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Come with me if you want to live....
  • #474,980
  • Feb 20, 2019 12:43pm Feb 20, 2019 12:43pm
Quoting Ill-b-back
looking around 1.3125 for a bullish breather and potential turning point {image}
Still looking at 1.3125 for a turn around? Even with the FOMC news?
Carpe Diem
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