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Cable Update - Continued 105 replies

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Cable Update (GBPUSD)

Quoting navk
{quote} 2212 I am expecting today, as i have been saying since asia. I closed bigger lots. smaller ones I shall close after NY close
I set TP for my smaller longs and went out.

I came back to see all hit the target.

That is all for today guys.

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Intraday only.
Another short term sell before the next wave up.

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Be careful on taking the last bites against the trend.

to the idea on TradingView
We can't control the sea, but we can learn how to surf the waves.
Quoting MustBeHigh
Hey, There are rumors that the Bank of England. Wants to cut interest rates below the 0.10% it is now. Will that be bullish for GBP? I think there's a high probability they will cut rates.
Personally, I don't think that at this level of rates any rates moves matter much. IMO what matters most is the amount of GBP monetisation compared to USD monetisation of the huge deficits, and the amount of future USD demand compared to the amount of future GBP demand.

These are very complex issues with multiple variables. For example, the reduction of the oil price has reduced the amount of GBP demand by rich Arab and Russian money laund...excuse me, "investors". How much of the assets currently parked in GBP will have to be sold by their owners to fund USD obligations, or simply address capital shortages back home in Saudi etc? Nobody really knows

How much will this squeeze reduce the amount of Chinese flows coming into GBP (big flows have been coming for UK property purchases) Nobody knows, not even the Chinese yet.

A British Teasury document leaked which suggested that the government in UK is planning to pay for the extra 500bn deficit created by the COVID measures, by higher taxes and further austerity. This is simply not going to happen. The deficit is way too big. Printing will be the only way

But then again, the same goes for the US. Given this is GBP/USD pair, it's all about the relative, not the absolute amount of printing. As an absolute amount, USD printing will be much bigger, because the US is a much bigger economy. But there is also huge amount of USD-denominated debt issued by foreign entities. They will be having a demand for USD too, to service or pay off this debt, and they can't print USD. Only the Fed can. So the relative comparison of GBP/USD printing is hard to calculate. If I were forced to guess, I'd be inclined to lean towards USD printing being much bigger than GBP printing on a relative basis, hence a GBP/USD appreciation eventually, but that doesn't mean it's going to happen NOW. GBP might sink by 1000 pips before starting to rise in reflection of USD printing.

Also consider that the very long trend of GBP/USD over the past century or so has been down
Quoting joesherwood
{quote} exactly no one here owes you nothing, at the end of the day everybody is different and have dealt with their problems, this is not a place to post them. how do you think i felt just over a year ago when i started at 18, i had no money i wan in college, i never went out and asked i hustled made with what i had, like kuroro said market doesn't owe you shit but thats not to say you cant take shit. at the end of the day you can keep posting negative stuff or actually do something about it, just my piece. not its time to enjoy he weather trades...
How to get promotion from junior member to senior. Full membership
Sangam Agarwal
Here's a GBP/USD chart from 1953

Not that these matter much here, as 99% of people seek to scalp 8 pips over a minute, but w/e
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Quoting SangamAgarwa
{quote} How to get promotion from junior member to senior. Full membership
Hi Sangam,

You have to pay your monthly subscription. It's only 99.99$ a month.

If you want I can help you to process the payment, just need you CC details. Just post them here.
Patience and Discipline.
overall a bullish day... I expect that to continue into tom.
Quoting Stefan90csk
{quote} Hi Sangam, You have to pay your monthly subscription. It's only 99.99$ a month. If you want I can help you to process the payment, just need you CC details. Just post them here.
You've made a small mistake.

It's not 99.99 dollars but 99.99 % of capital
WT
6 minutes with no movement. Are we coming close to drop?
WT
Hello respected Seniors,i need your help regarding pip spread for Gbpusd.Currently am using XM-Global Demo.
when i open trade it already make difference of 25 pip..So is it normal with every broker.
however i know every broker have different spread.please let me know any trust worthy broker with low spread.
your support will be appreciated.
regards.
Quoting forex222
Hello respected Seniors,i need your help regarding pip spread for Gbpusd.Currently am using XM-Global Demo. when i open trade it already make difference of 25 pip..So is it normal with every broker. however i know every broker have different spread.please let me know any trust worthy broker with low spread. your support will be appreciated. regards.
I'm using ICMarkets and before that ActivTrades.

Check'em - they are trustworthy and have relatively low spreads.
Patience and Discipline.
Quoting Bartosz77
6 minutes with no movement. Are we coming close to drop?
I believe a rise first towards 2200 where price is capped before the drop

Discipline is key
Technical Analysis :300 + pip GBPCHF move
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instagram: stepbystepforex
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Spread is dancing like crazy(like I didn't see in a long time)...on all my brokers...something big is on the way...
Everyone can see the chart, but only a few can actually read it.
ForexEA PRO Return This Month: -2.4%
Quoting OnlineAddict
Spread is dancing like crazy(like I didn't see in a long time)...on all my brokers...something big is on the way...
in my broker it'a 20 pips now , the usual is 1.6
Quoting Moty
{quote} in my broker it'a 20 pips now , the usual is 1.6
I am really curious what happens now during the week...might be a one-way ride.
Everyone can see the chart, but only a few can actually read it.
ForexEA PRO Return This Month: -2.4%
Quoting Moty
{quote} in my broker it'a 20 pips now , the usual is 1.6
I just had 304 spread....!
WT
Quoting Bartosz77
{quote} I just had 304 spread....!
Wtf! What broker? That is pure scam.
Everyone can see the chart, but only a few can actually read it.
ForexEA PRO Return This Month: -2.4%
Quoting Bartosz77
{quote} I just had 304 spread....!
usually in the next hour, it's return to normal spread, let's see
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