Cable Update (GBPUSD)

UN says record global recession a near certainty

Into a long move

Just hit my lower tab. So is this a confirmation lower ? One has to ask ones self questions . Cable has been confirming tl to the high side lately and it has to change some where !!!

long days I just want to catch a bottom

yes there will be a sharp recession but a v-shape recovery will follow.

Right now it's crunch time, so the US dollar surges. But on the long run, the measures that government will be forced to take, regardless of their ideology, will be massively dollar negative.

Much of the world's private debt outstanding will have to restructured. Most of this is USD denominated.

Governments will have to massively borrow and spend cash to support jobs, bail out/nationalise entire industry sectors. Much of this new government borrowing will have to be monetised, i.e. purchased by the central bank via printing new money. Some of it will be bought by government bond investors, but at much higher interest rates.

Mass monetisation of huge government deficits for direct fiscal stimulus of every single household means, effectively, the DE FACTO end of any notion of "central bank independence", "small government" ideologies, "free market" ideologies, "austerity" etc. Not because the governments and so-called "elites" want to end them. But because they realise that the alternative is total chaos. They won't bail the public out and end central bank independence to ensure your survival. They will do it because they realise it's the only way to save their own position, which is simply untenable with tenths of millions of angry, hungry and penniless unemployed people who suddenly find themselves with no source of income to feed their families.

Since most of the world's debt, public and private, is USD-denominated, this means that on average the USD will depreciate vs most major and minor currencies, as the amount of USD printing will far exceed the printing of most other major and minor currencies.

Oh, and higher long term interest rates obviously also mean the burst of the ridiculous property bubbles in places like London, etc.

By the way, this USD devaluation will be in the long run probably very positive for the United States and its workers. Those who survive this deep dive (and the second one that may arrive next winter, when the virus may well stage a comeback after a summer lull) and who are members of the so-called working class, will probably see much better days ahead

Rumor has it if EU closes towards weekly low tomorrow, then it will gap to parity on Sunday open to hunt all the orders trying to catch a massive reversal to the buy side.

expecting GBPJPY to do this move

not sure who will control it more GBPUSD or USDJPY but very confident that we will see 131 area

[quote=Tacitus;12825529]{quote} yes there will be a sharp recession but a v-shape recovery will follow. Right now it's crunch time, so the US dollar surges. But on the long run, the measures that government will be forced to take/quote]

Regardless of any government policies and practices their role in very limited when it comes to controlling currency fluctuations.

This is a tradable market of such magnitude that the market itself is self controlling and will swing whatever distances the market sentiment deems fit.

Funny how everyone seems to have forgotten Brexit now Corona has hit the news.

The pound has been in decline since 2014 long before all this bullshit hit the news. This is market sentiment and there is no technical reason it cannot continue to 0.92791. The money is there already loaded in and it is steadily changing hands until the sentiment itself changes.

waiting for comfirmation....market in range now...
TF H1

Could we see on GBPUSD when it reaches 1.168 then will continue up?At least that is what I expect!Untill maybe 1.179 and then dive again!!What do you think?

?

1.1910?

Buy 1.1750

Low last night changed plan-if 1.1640 hold its ok for up but can be once again down to support

Vol is awesome, already 400 pips high/low

Love GBP

Cable is back

Tp hitted for 80 pips .

Morning all I am now feeling comfortable that my last nights post and the one was in delight as I went into a big lot trade . So I went to bed with that big smile on my face and this morning look where it is .. picked up buy orders and total pips over night night 312 at this time ... question again have we found that bottom . Not looked at my pc yet so we will have a better look .. right now it’s coffee in bed Ann a big smile .. hope you were on the train guys .