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Cable Update (GBPUSD)

  • #499,461
  • Oct 19, 2019 6:27am Oct 19, 2019 6:27am
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  • #499,462
  • Edited 6:42am Oct 19, 2019 6:28am | Edited 6:42am
Quoting MXT
{quote} i like Berkow too actually , other MPs should have resigned in his place

ORDERRRRRRRRRRRRRRR!!!!!!!

Love it...."Calm yourself, take up Yoga"

"Calm yourself Man, the Lion must get back in it's den"

Inserted Video
Don't Leave Money on the Table
  • #499,463
  • Oct 19, 2019 6:46am Oct 19, 2019 6:46am
I would ask -if news was already known going into this weekend= then what week did they get the memo...and how come this move started at a major level- 10 weeks ago was the start of the move
I enjoy your posts on how you attach things because I have no knowledge on it at all.I appreciate the level of effort to convey.
Actually it really does not matter
-who knows what or when - or -what we believe-
as long as your able to read it

Quoting malcolmb14
{quote} Remember the time of the last election ... the weakness in the gbpusd was spotted way before the huge drop ... vsa actually shows what the smart money are doing and reality is the smart money run the world . Look at trump and xi good example . The smallest tweet sent market flying . Every time 30 min before there was a tweet liquidity dropped out of the indexes .. I mean to the extent I had to check if my internet was down
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #499,464
  • Oct 19, 2019 6:54am Oct 19, 2019 6:54am
i thought this this would pass but im not so sure now.
shadow brexit secretary Stamner just gave a pretty brilliant speech. It may swing the no vote.

which, im just realizing, may have been BJs purpose all along.
He turned his back on his DUP partners knowing they would not support a deal.
Maybe BJ is forcing a no deal brexit this way.

just writing out loud...
in wondering about yourself, you forgot what you came here to be part of
  • #499,465
  • Oct 19, 2019 6:59am Oct 19, 2019 6:59am
Quoting knkie
i thought this this would pass but im not so sure now. shadow brexit secretary Stamner just gave a pretty brilliant speech. It may swing the no vote. which, im just realizing, may have been BJs purpose all along. He turned his back on his DUP partners knowing they would not support a deal. Maybe BJ is forcing a no deal brexit this way. just writing out loud...
Shorted Friday so deal can’t pass
ex nihilo
  • #499,466
  • Oct 19, 2019 6:59am Oct 19, 2019 6:59am
he ' s got 259 , he needs 61 out of a potential pool of 85

i give way to the right honorable traders
  • #499,467
  • Oct 19, 2019 7:03am Oct 19, 2019 7:03am
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #499,468
  • Oct 19, 2019 8:04am Oct 19, 2019 8:04am
Quoting Marcieny
{quote} the drawing ... what can happen of this currency reach new highs too .... Gu up and down this year ..EG has not left the place for years.
Hi Marcieny,

Actually not a bad prospect. EG is at levels where buy trades would interest me. From a weekly perspective trading in its yearly range with my yearly medium support 1 at 0.85623 and yearly support 2 at 0.84224 beckoning. These levels would interest me for buy reversal signals.

We have a possible scenario here. Since both Gu and Eu are trading off my yearly supports with Eu lagging behind Gu, but both are heading up with the pound showing more strength with the hype of a Brexit deal etc., we could see the reverse here with an outcome. A slowdown in pound growth, which could mean that a deal has already been priced in leading to an acceleration in euro strength with the Dollar weakening more in its current downward trajectory, by the way the dollar index is also coming off my yearly resistance levels. It means one thing for me, EG could stay within its yearly range.

Anyway will observe how next week plays out.

All the best,
Cheers
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Trade to trade another day
  • #499,469
  • Oct 19, 2019 8:20am Oct 19, 2019 8:20am
Quoting Wavegarrick
{quote} Hi Marcieny, Actually not a bad prospect. EG is at levels where buy trades would interest me. From a weekly perspective trading in its yearly range with my yearly medium support 1 at 0.85623 and yearly support 2 at 0.84224 beckoning. These levels would interest me for buy reversal signals. We have a possible scenario here. Since both Gu and Eu are trading off my yearly supports with Eu lagging behind Gu, but both are heading up with the pound showing more strength with the hype of a Brexit deal etc., we could see the reverse here with an...
great explanation Leon ... this deal brexit should already be priced ... and as always your graphic is beautiful hahaha....

I am looking for a possible sale swing in this.
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  • #499,470
  • Oct 19, 2019 8:25am Oct 19, 2019 8:25am
Brexit: Critical vote may be postponed to October 22, GBP/USD may fall with a gap

UK Prime Minister Boris Johnson may send his Conservative MPs home and bring forward the second reading of the Withdrawal Agreement Bill to Tuesday, October 22. In this scenario, the government will make the special Saturday sitting meaningless.
Reporters say that sources in 10 Downing Street would make the move if the amendment pushed by Sir Oliver Letwin is approved by parliament. The amendment requires the PM to seek an extension to Brexit if the full bill fails to pass on Saturday.

Johnson is set to send a letter to EU Council President Donald Tusk and request a delay to Brexit.
Sky News' political editor Beth Rigby has tweeted:
- If Letwin passes, No 10 source says the govt will present Withdrawal Agreement Bill Mon, hold vote on 2nd reading Tues & Meaningful Vote on deal on Tues
- PM will also have to send letter tonight asking for ext (might be send two 1 legal, 1 political?)
Traders may sell the pound early on Monday when markets open. GBP/USD has closed the trading week at 1.2973, close to the five-month highs of 1.2989. The pound advanced on the prospects of parliament approving the Brexit agreement. Another delay may send it down amid growing uncertainty.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #499,471
  • Oct 19, 2019 8:30am Oct 19, 2019 8:30am
Brexit: Labour set to whip support for Letwin amendment, raising chance main motion delayed, GBP/USD negative

The opposition Labour party is set to whip its members to support the amendment tabled by Sir Oliver Letwin. The modification forces the government to ask for an extension to Brexit even if the Meaningful Vote passes. It requires the full legislation to pass muster.
The full support of the main opposition party raises the chances that the amendment is approved. In that case, Prime Minister Boris Johnson is set to bring the Withdrawal Bill to vote on Tuesday, October 22. On the other hand, Alistair Burt, an MP that was expelled from the Conservative Party, said he will not support the deal.

The pound may react negatively if the most-important vote is delayed. GBP/USD ended the week on a high note.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #499,472
  • Oct 19, 2019 8:38am Oct 19, 2019 8:38am
Quoting sgkrishn
Brexit: Labour set to whip support for Letwin amendment, raising chance main motion delayed, GBP/USD negative The opposition Labour party is set to whip its members to support the amendment tabled by Sir Oliver Letwin. The modification forces the government to ask for an extension to Brexit even if the Meaningful Vote passes. It requires the full legislation to pass muster. The full support of the main opposition party raises the chances that the amendment is approved. In that case, Prime Minister Boris Johnson is set to bring the Withdrawal Bill...
a delay is only positive news for GBP

bad news if there is a no deal Brexit by month end
Don't Worry Be Happy
  • #499,473
  • Oct 19, 2019 8:49am Oct 19, 2019 8:49am
Quoting MrPresident
{quote} a delay is only positive news for GBP bad news if there is a no deal Brexit by month end
By watching the parliament speech NODEAL BREXIT will happens on 31 Oct.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #499,474
  • Oct 19, 2019 8:50am Oct 19, 2019 8:50am
Quoting asgcorp
short sellers have 125 000 lots short in GBPUSD. Every 100 point move NORTH will wipe out 125 mln USD of equity. EURUSD short sellers got 175 000 + lots short. Every 100 point move NORTH will wipe out 175 mln USD. All in all a 100 point move NORTH in EU/GU will wipe out a combined 300+ mln USD. And this could happen overnight and x2-x4 as well. No wonder banks love this game!
Hey Asgcorp,

I was curious and trying to find this information. How can I calculate a rough estimate for one pip of price movement in the markets.

I.E: You have a total volume of Sterling/Greenback on GU, each pip movement up or down equates to XXXX Millions of dollars being bought/sold.

I don't mean the common question of 1 pip of movement for a standard lot is $10/pip but like.... 100 pips NORTH = an increase in Sterling by approximately XXXXX Billions GBP.

I tried finding resources on calculating this, but can't via google.

Thanks
  • #499,475
  • Oct 19, 2019 8:58am Oct 19, 2019 8:58am
anybody also thinks that we will have a gap down on Monday? Imo Brexit deal has been so priced in that a further delay will only create more uncertainty causing the pound to plummet unless brits have a final decision on their deal...
  • #499,476
  • Oct 19, 2019 9:00am Oct 19, 2019 9:00am
Quoting Ra.
{quote} Hey Asgcorp, I was curious and trying to find this information. How can I calculate a rough estimate for one pip of price movement in the markets. I.E: You have a total volume of Sterling/Greenback on GU, each pip movement up or down equates to XXXX Millions of dollars being bought/sold. I don't mean the common question of 1 pip of movement for a standard lot is $10/pip but like.... 100 pips NORTH = an increase in Sterling by approximately XXXXX Billions GBP. I tried finding resources on calculating this, but can't via google. Thanks
https://www.thebalance.com/calculati...-pairs-1031022
Don't Worry Be Happy
  • #499,477
  • Oct 19, 2019 9:02am Oct 19, 2019 9:02am
Currently-90 ... forcthose that held a sell

mignt change will keep you posted
Blogging daily now at www.volume.zone
  • #499,478
  • Oct 19, 2019 9:02am Oct 19, 2019 9:02am
Quoting sgkrishn
{quote} By watching the parliament speech NODEAL BREXIT will happens on 31 Oct.
Lets see if Boris has the balls to do it, I am really curious how he wants to avoid asking for an extension.
Everyone can see the chart, but only a few can actually read it.
  • #499,479
  • Oct 19, 2019 9:05am Oct 19, 2019 9:05am
Quoting Bagge
anybody also thinks that we will have a gap down on Monday? Imo Brexit deal has been so priced in that a further delay will only create more uncertainty causing the pound to plummet unless brits have a final decision on their deal...
Parliament won't be voting on the Brexit deal today, news just in. The amendment motion (guarding against a no deal) was won 322/306. Boris to write to the EU later tonight.

i.e. House will not approve/vote on deal until related legislation has been passed.

Guz
Charts don't drive price, market conditions drive price...
  • #499,480
  • Oct 19, 2019 9:06am Oct 19, 2019 9:06am
Quoting OnlineAddict
{quote} Lets see if Boris has the balls to do it, I am really curious how he wants to avoid asking for an extension.
he will apply for a delay but more importantly I think the EU will be very reluctant to grant one. they wont renegotiate the deal they just gave the parliamant so they are maybe putting pressure on the brits by saying take this or leave without, no more delay. Macron already said he wouldnt be very haoopy with a delay.

Also a further delay will only create more uncertainty or what do you think? Positions by EU right now wont change.
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