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Cable Update (GBPUSD)

  • #564,001
  • Dec 7, 2020 5:00am Dec 7, 2020 5:00am
As I closed my sell too early, I now hope bulls can make a good recovery.
But first, they have to break 1.328.
Dollar starts to lose against other currencies, help may come in US session, before the final drop when no deal is declared after Johnson - von der Leyen call.
  • #564,002
  • Dec 7, 2020 5:01am Dec 7, 2020 5:01am
Quoting VM.
As I closed my sell too early, I now hope bulls can make a good recovery. But first, they have to break 1.328. Dollar starts to lose against other currencies, help may come in US session, before the final drop when no deal is declared after Johnson - von der Leyen call.
mate. leave me the 1.33 untouched please ahahaha
Twitter: Rummer_grapes
  • #564,003
  • Dec 7, 2020 5:04am Dec 7, 2020 5:04am
Quoting Catempire
{quote} "All essential services (food/medical supplies) will be catered for." Thats cr*p ... before we joined the EU and there was a fleet of 3000 international trucks (theres now 20000+ ) ... there were 2000+ boarder workers working on customs of shipping... the wait was still 5 days. The EU won't come to the UK with goods... So what % of items arrives from the EU and how are you supposed to fill that gap ?? Did you read the document set out by the UK government of things that we will see on a no deal ?? or just assuming based on absolutely nothing...
are you talking about food ? its 30%,
if you read the cost of food will be more, all they did is look at the import amount then add the tariff like nothing would change.
Perfect country to make butter yet we import it.
Its crazy to worry about imports ,with no balance whatsoever in trade
worry about exports
Who fills the gap ? thats the good bit because it could be UK .

Things will change and it's not all Uk negative beyond the horizon unless you buy into nutty economics.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #564,004
  • Dec 7, 2020 5:07am Dec 7, 2020 5:07am
Quoting Bacco
{quote} mate. leave me the 1.33 untouched please ahahaha
Yeah, it's always funny when I close my position and suddenly start rooting for the other team.
Would be happy with 1.33 untouched, I just want to find a good place for a new entry.
  • #564,005
  • Dec 7, 2020 5:07am Dec 7, 2020 5:07am
the drop is coming
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close up
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yes yes yes
  • #564,006
  • Dec 7, 2020 5:08am Dec 7, 2020 5:08am
Quoting nessus94
Time to buy more cheap pound


Can we please get this man a psychiatrist ?
Que Sera
  • #564,007
  • Dec 7, 2020 5:12am Dec 7, 2020 5:12am
Quoting Catempire
{quote} Can we please get this man a psychiatrist ?
i already took my pills
Make money by doing the opposite of Giveachance aka loser
  • #564,008
  • Dec 7, 2020 5:33am Dec 7, 2020 5:33am
Quoting VM.
{quote} Yeah, it's always funny when I close my position and suddenly start rooting for the other team. Would be happy with 1.33 untouched, I just want to find a good place for a new entry.
I got stopped out by 0.03 pips on a positon I had been waiting to enter all year.

lol

So unlucky but that's the way it goes.

Purchased a lot of options this morning for the ftse & waiting on a re entry for the short... just not convinced now is quite the time.
Que Sera
  • #564,009
  • Dec 7, 2020 5:37am Dec 7, 2020 5:37am
Quoting Catempire
{quote} I got stopped out by 0.03 pips on a positon I had been waiting to enter all year. lol So unlucky but that's the way it goes.
I feel for you. Had many similar stories, although in my case I usually am not stopped out but close too early.
And I did miss an entry at 1.35+, even though I waited for it for months as well.
  • #564,010
  • Dec 7, 2020 5:39am Dec 7, 2020 5:39am
... 3324 the current dly lo...a 213pip move off the current dly hi and already 315pips off that 3539 hi which seems like a lifetime ago now !
1hr below shows the main 1hr upside obstacles with fibs plotted from that 3539 and today's current 3438 hi to the current dly lo - 3224.

At some point you would expect some downside follow-thru on that huge 1hr bearish thrust candle ? That's the greater probability from a technical viewpoint anyways.

Of course pulling a rabbit out the hat (unlikely !?) with a last minute deal (of whatever type - the devil as always will be in the detail,) will likely see an 'exaggerated' rally given the 'depths of despair' that we have reached. Whether this could be sustained will be down to the detail.
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Trader with an Edge.
  • #564,011
  • Dec 7, 2020 5:40am Dec 7, 2020 5:40am
Quoting VM.
{quote} I feel for you. Had many similar stories, although in my case I usually am not stopped out but close too early. And I did miss an entry at 1.35+, even though I waited for it for months as well.
Trading is a piece of piss in hindsight

I'm not overly fussed provided my next entry stays put, I am very tempted by a V wide SL of 300+ pips & the value I think that is on offer on the FTSE PUTS seems pretty solid possible it will hold up till we get towards D day as the Pound will factor in a price first and that will hold it up so scaling in is likely the wisest call.
Que Sera
  • #564,012
  • Dec 7, 2020 5:42am Dec 7, 2020 5:42am
Quoting Headland
... Of course pulling a rabbit out the hat (unlikely !?) with a last minute deal (of whatever type - the devil as always will be in the detail,) will likely see an 'exaggerated' rally given the 'depths of despair' that we have reached. Whether this could be sustained will be sown to the detail. {image}
I don't expect a deal, but another rumour of a breakthrough (as usual, unsubstantiated) may send GU into a frenzy.
We have seen it so many times.
  • #564,013
  • Dec 7, 2020 5:43am Dec 7, 2020 5:43am
Quoting Catempire
{quote} Trading is a piece of piss in hindsight I'm not overly fussed provided my next entry stays put, I am very tempted by a V wide SL of 300+ pips & the value I think that is on offer on the FTSE PUTS seems pretty solid possible it will hold up till we get towards D day as the Pound will factor in a price first and that will hold it up so scaling in is likely the wisest call.
That said I cant see the FTSE not heading into the 4000's range on the possibility of Biden raising Corporate tax rates & No deal Brexit.

The effects of Brexit could be worse than coronavirus and we hit 4700 in March.
Que Sera
  • #564,014
  • Dec 7, 2020 5:46am Dec 7, 2020 5:46am
Is 1.32 today reachable/real?
Observer effect
  • #564,015
  • Dec 7, 2020 5:47am Dec 7, 2020 5:47am
Quoting Catempire
{quote} That said I cant see the FTSE not heading into the 4000's range on the possibility of Biden raising Corporate tax rates & No deal Brexit. The effects of Brexit could be worse than coronavirus and we hit 4700 in March.
I am a bit cautious on FTSE as it is inversely correlated with pound. After Brexit, FTSE actually went up substantially. But I am not an expert here.
  • #564,016
  • Dec 7, 2020 5:48am Dec 7, 2020 5:48am
Drop more please. I want to buy
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #564,017
  • Dec 7, 2020 5:52am Dec 7, 2020 5:52am
Quoting VM.
{quote} I am a bit cautious on FTSE as it is inversely correlated with pound. After Brexit, FTSE actually went up substantially. But I am not an expert here.
In March both Pound and FTSE plummeted. The repercussions of a no deal are far reaching on many levels, all well and good having a better exchange rate for oil etc but not when its so adversely effected by other constraints. If it was a normal functioning market and the pound dropped I would 100% agree with you & if the FTSE was more tech based and less import / expert / supply based I would also agree with you, but it isn't

The market will shit itself and if Biden raises corp tax back to pre trump levels all markets will drop.
Que Sera
  • #564,018
  • Dec 7, 2020 5:54am Dec 7, 2020 5:54am
Quoting ryuryu
Is 1.32 today reachable/real?
Anything is possible, and on another negative 'substantial' rumour/update/report re brexit talks, or some other as yet unforeseen event risk - probable. Truth is - No one knows. It is only 24 pips below the current dly lo.
----------------------------------------------------------------------

btw: Does anyone know why Barnell got banned ? I wonder what username he'll resurface as ? Also, what happened to MoneyZilla ?
Trader with an Edge.
  • #564,019
  • Dec 7, 2020 5:56am Dec 7, 2020 5:56am
Quoting nessus94
Time to buy more cheap pound
buy? you will see 1.30 soon..
  • #564,020
  • Dec 7, 2020 5:58am Dec 7, 2020 5:58am
Quoting Catempire
{quote} In March both Pound and FTSE plummeted. The repercussions of a no deal are far reaching on many levels, all well and good having a better exchange rate for oil etc but not when its so adversely effected by other constraints. If it was a normal functioning market and the pound dropped I would 100% agree with you & if the FTSE was more tech based and less import / expert / supply based I would also agree with you, but it isn't The market will shit itself and if Biden raises corp tax back to pre trump levels all markets will drop.
I see where you are coming from, just do not have a conviction in this case.
I also think shorting some particular companies (more domestic, and those that will be hit by export/import mayhem) may be a good idea; although they may have been hit already.
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