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Cable Update (GBPUSD)

  • #525,921
  • Jun 7, 2020 6:34pm Jun 7, 2020 6:34pm
Quoting mkvy
{quote} wich mas is it breaking? what news? just trade what i see, not what i think
the 200 on the daily. It literary makes no sense. Just some stupid buying power because what? Has anything happened that we are not aware of? Has anything changed in the UK?
  • #525,922
  • Jun 7, 2020 6:34pm Jun 7, 2020 6:34pm
I think you will be surprised to see it down to 1.22-1.20 by the end of this week.
  • #525,923
  • Jun 7, 2020 6:36pm Jun 7, 2020 6:36pm
Quoting q_import
{quote} Keep your stop tight your in for a ride down.
yeah well, if it does that i will start sellin, i dont make predictions
  • #525,924
  • Jun 7, 2020 6:38pm Jun 7, 2020 6:38pm
Quoting dimadono
{quote} the 200 on the daily. It literary makes no sense. Just some stupid buying power because what? Has anything happened that we are not aware of? Has anything changed in the UK?
i dont use indicators, sorry. if you look previous history i bet the 200 ma gets broken sometimes
  • #525,925
  • Jun 7, 2020 6:40pm Jun 7, 2020 6:40pm
Quoting dimadono
I think you will be surprised to see it down to 1.22-1.20 by the end of this week.
i would not be surprised as i dont forecast or predict
  • #525,926
  • Jun 7, 2020 6:44pm Jun 7, 2020 6:44pm
i have shorted this many times and most of the time it follows a huge drop. So i am expecting that drop possibly this week.
  • #525,927
  • Jun 7, 2020 6:48pm Jun 7, 2020 6:48pm
Quoting dimadono
i have shorted this many times and most of the time it follows a huge drop. So i am expecting that drop possibly this week.
that would be cool if it does i'll join your for that party when it happens
  • #525,928
  • Jun 7, 2020 6:53pm Jun 7, 2020 6:53pm
very soon very soon
  • #525,929
  • Jun 7, 2020 7:00pm Jun 7, 2020 7:00pm
Quoting dimadono
{quote} the 200 on the daily. It literary makes no sense. Just some stupid buying power because what? Has anything happened that we are not aware of? Has anything changed in the UK?
GBPUSD is made up of UK and US currencies.
Compulsions can be hard to resist
  • #525,930
  • Jun 7, 2020 7:06pm Jun 7, 2020 7:06pm
Quoting trumps
{quote} GBPUSD is made up of UK and US currencies.
really?? wow i didnt know.
  • #525,931
  • Jun 7, 2020 7:07pm Jun 7, 2020 7:07pm
Quoting trumps
{quote} GBPUSD is made up of UK and US currencies.
i am mentioning the UK because of the very important data (rates, brexit) that should have dropped the pair, even with a weak dollar.
  • #525,932
  • Jun 7, 2020 7:08pm Jun 7, 2020 7:08pm
Quoting dimadono
{quote} really?? wow i didnt know.
Well, by wondering why GBPUSD is rising and only referencing the UK in your query,
I was just checking
Compulsions can be hard to resist
  • #525,933
  • Jun 7, 2020 7:12pm Jun 7, 2020 7:12pm
Quoting dimadono
{quote} i am mentioning the UK because of the very important data (rates, brexit) that should have dropped the pair, even with a weak dollar.
If you have a look at the timing of past US rate drops/rises, and market responses, you will see these are nearly always priced in before hand.
I haven't paid much attention to UK rate changes to be honest, but being a major pair, I presume the priced in response would be similar
Compulsions can be hard to resist
  • #525,934
  • Jun 7, 2020 7:14pm Jun 7, 2020 7:14pm
Quoting trumps
{quote} If you have a look at the timing of past US rate drops/rises, and market responses, you will see these are nearly always priced in before hand. I haven't paid much attention to UK rate changes to be honest, but being a major pair, I presume to priced in response would be similar
just because they are priced i am wondering why cable is going up. Soon the uk will have negative rates... And most probably before the US.
  • #525,935
  • Jun 7, 2020 7:19pm Jun 7, 2020 7:19pm
The other thing that gives me good evidence of a drop is that volatility. couple weeks ago cable used to move 20 max 30 ticks range around Asia session. The past week we have seen 100 ticks and consistently. So a 200-300 pips drop wouldnt surprise me. If that rally contonues though up to 1.28-1.30 then i will look at things differently. For now, i still remain short
  • #525,936
  • Jun 7, 2020 7:23pm Jun 7, 2020 7:23pm
Quoting dimadono
{quote} just because they are priced i am wondering why cable is going up. Soon the uk will have negative rates... And most probably before the US.
All kinds of things are possible.
If it is priced in, then why would it go down?

MM's don't need a reason to push it up (except to collect stops).

China is also pushing back on trade with anyone criticising them right now.
Compulsions can be hard to resist
  • #525,937
  • Jun 7, 2020 7:30pm Jun 7, 2020 7:30pm
Quoting trumps
{quote} All kinds of things are possible. If it is priced in, then why would it go down? MM's don't need a reason to push it up (except to collect stops). China is also pushing back on trade with anyone criticising them right now.
I can imaging a conversation:

Chris: Hey Joe, you're a big bank trader, why are you pushing the GBPUSD up, don't you know the UK is in trouble?

Joe: I've known this for some time Chris, that's why I sold before hand.

Chris: Yeah ok, but why are you buying? The UK outlook is not good.

Joe: The Pound is still cheap Chis. Oh, and because everyone else is selling, we like the liquidity.
Compulsions can be hard to resist
  • #525,938
  • Jun 7, 2020 7:35pm Jun 7, 2020 7:35pm
Ongoing mass demonstrations and riots in dozens of US cities won't help it's Covid situation/economic recovery either.
Compulsions can be hard to resist
  • #525,939
  • Jun 7, 2020 7:41pm Jun 7, 2020 7:41pm
Quoting dimadono
The other thing that gives me good evidence of a drop is that volatility. couple weeks ago cable used to move 20 max 30 ticks range around Asia session. The past week we have seen 100 ticks and consistently. So a 200-300 pips drop wouldnt surprise me. If that rally contonues though up to 1.28-1.30 then i will look at things differently. For now, i still remain short
I'm watching the 1.28 region also.
Compulsions can be hard to resist
  • #525,940
  • Jun 7, 2020 7:42pm Jun 7, 2020 7:42pm
trying a long ...tp 20 pips.. .1.27200...sl.. manual...
Extreme gut feeling trader
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