Cable Update (GBPUSD) | Page 32543 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #650,841
  • Feb 3, 2022 10:34am Feb 3, 2022 10:34am
Quoting Bones
{quote} the European central bank just let a lot of traders down all we can do is wait see how they feel about that ?

No way! Just looked at EU, 115 on its cards (upper BB on daily) ECB is dragging EG up.

Check out EUCHF Looks nearly like an intervention.

I am chatting too much, sorry.
  • #650,842
  • Feb 3, 2022 10:43am Feb 3, 2022 10:43am
Quoting Jolita
{quote} Why EG is rising, should do the opposite, no? Is Euro stronger then GBP?
Hi Jolita,
At least the market thinks so. Just remember that EG is coming off multi-year lows. A correction was due a long time coming. Could the dollar index be correcting towards my yearly pivot at 93.894? The dollar should come up this year but maybe not in the 1st quarter.
Euro is currently stronger than the pound, well the markets think so, and the dollar is tanking.
Whether fundamentals come into play here or not, there will always be an excuse by the fundis in hindsight as to why a currency drops when it should be going up hence my strong belief in techs.
Cheers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_1497.png Size: 88 KB
Click to Enlarge Name: Screenshot_1498.png Size: 92 KB
Trade to trade another day
  • #650,843
  • Feb 3, 2022 10:44am Feb 3, 2022 10:44am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 26 KB
yes yes yes
  • #650,844
  • Edited 10:57am Feb 3, 2022 10:46am | Edited 10:57am
Quoting Bones
if only there was someone who been around long enough to say, theres a lot of newbies in these threads {image}

I was sceptical about the feds. They were crying by the end of the year and suddenly everything was fine.
Job situation changed from worst to best.

Remember I mentioned it was strange to me Gold and Dollar strength at the same time. They first made Gold damp and now damping their own dollar.
Confusion never stops.

All Euros from my watchlist rising except EUPLN
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2022-02-03 at 16.55.48.png Size: 86 KB
  • #650,845
  • Feb 3, 2022 10:50am Feb 3, 2022 10:50am
Anyone thinking this bull might be due a correction tomorrow

Was thinking of hunting for a short to hold throughout the day tomorrow

The risk on markets seem to be pausing a bit, might be time to take some profits

Will figure it out tomorrow
  • #650,846
  • Edited 11:03am Feb 3, 2022 10:52am | Edited 11:03am
Quoting Wavegarrick
{quote} Hi Jolita, At least the market thinks so. Just remember that EG is coming off multi-year lows. A correction was due a long time coming. Could the dollar index be correcting towards my yearly pivot at 93.894? The dollar should come up this year but maybe not in the 1st quarter. Euro is currently stronger than the pound, well the markets think so, and the dollar is tanking. Whether fundamentals come into play here or not, there will always be an excuse by the fundis in hindsight as to why a currency drops when it should be going up hence my...

Thanks.
Weak currency is good for importing the goods and strong currency is good for exporting.

Country can manipulate its currency by the needs and make money from it.

Feds mentioned about large treasury bond purchasing by 15th of February. Now if they lower dollar for their specific asset purchases they will gain with time when contracts end.

This is what I think, I might be wrong.
  • #650,847
  • Feb 3, 2022 10:53am Feb 3, 2022 10:53am
Quoting mysterio
Anyone thinking this bull might be due a correction tomorrow Was thinking of hunting for a short to hold throughout the day tomorrow The risk on markets seem to be pausing a bit, might be time to take some profits Will figure it out tomorrow
You would have made a killing on EU if you had traded it, I believe. See the humongous spike there! Most stops there have been blown. If NFP is good tomorrow maybe we get a dip there. But 1350 needs a revisit there. All the levels it broke like a mad dog needs a revisit.
  • #650,848
  • Feb 3, 2022 11:11am Feb 3, 2022 11:11am
Looks like it could be heading up to 3660 zone
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 19 KB
Compulsions can be hard to resist
  • #650,849
  • Feb 3, 2022 11:18am Feb 3, 2022 11:18am
Quoting Jolita
{quote} I was sceptical about the feds. They were crying by the end of the year and suddenly everything was fine. Job situation changed from worst to best. Remember I mentioned it was strange to me Gold and Dollar strength at the same time. They first made Gold damp and now damping their own dollar. Confusion never stops. All Euros from my watchlist rising except EUPLN {image}
all central banks are unreliable ,
carney was dubbed the unreliable boyfriend ,its their job to influence without lifting a finger the way they need
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #650,850
  • Feb 3, 2022 11:35am Feb 3, 2022 11:35am
Quoting Jolita
{quote} Why EG is rising, should do the opposite, no? Is Euro stronger then GBP?
Stop hunt/liquidity it happens all over the markets. You are correct GBP is stronger then EUR, and this will go down. Banks can't trade like us, they have to wait for a liquidity and they unload the positions. They trade with millions/billions of $ so for them it is not like us they can't just buy/sell whenever they want to. So once that is in that supply zone, it will start to drop soon, and when it does, it will go down. EUR bearish, GBP bullish, CAD bullish, JPY bearish, CHF bearish. Bank analysis, fundamentals are always first in forex, remember that always. Trade safe.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 74 KB
  • #650,851
  • Feb 3, 2022 11:52am Feb 3, 2022 11:52am
Quoting Techanalyst
{quote} Stop hunt/liquidity it happens all over the markets. You are correct GBP is stronger then EUR, and this will go down. Banks can't trade like us, they have to wait for a liquidity and they unload the positions. They trade with millions/billions of $ so for them it is not like us they can't just buy/sell whenever they want to. So once that is in that supply zone, it will start to drop soon, and when it does, it will go down. EUR bearish, GBP bullish, CAD bullish, JPY bearish, CHF bearish. Bank analysis, fundamentals are always first in forex,...
Thanks, Tech, for your opposing view, You are technically short On EurGbp. Anyway, we will have to see how this plays out.
Cheers,
Trade to trade another day
  • #650,852
  • Feb 3, 2022 11:57am Feb 3, 2022 11:57am
Quoting Wavegarrick
{quote} Thanks, Tech, for your opposing view, You are technically short On EurGbp. Anyway, we will have to see how this plays out. Cheers,
Hey no problem... I am not trading EURGBP was just sharing a chart to explain the view on that specific pair. However, I did add sell on EURUSD, EURCAD, and I added a buy on USDJPY. I am staying away from trading GBPUSD because fundamentally they are both strong. I am looking for a fundamental currency strength divergence for example USDJPY which divergence is strong because USD is strong and JPY is weak. So I am looking at strong currency vs weak currency. Trade safe.
  • #650,853
  • Feb 3, 2022 12:23pm Feb 3, 2022 12:23pm
Quoting Techanalyst
{quote} Stop hunt/liquidity it happens all over the markets. You are correct GBP is stronger then EUR, and this will go down. Banks can't trade like us, they have to wait for a liquidity and they unload the positions. They trade with millions/billions of $ so for them it is not like us they can't just buy/sell whenever they want to. So once that is in that supply zone, it will start to drop soon, and when it does, it will go down. EUR bearish, GBP bullish, CAD bullish, JPY bearish, CHF bearish. Bank analysis, fundamentals are always first in forex,...
Although that big up bar on EURGBP is an anomaly, I see D2 as overdue to go up rather than down. That is, TYPICALLY, D1/D2 do not continue with such extended down moves without a significant retracement in both price and time. But it makes little difference to me if it continues down or goes up, because I simply wait until the direction is clear on the TF of interest before entering.
To free Gazans of Hamas, use whatever it takes.
  • #650,854
  • Feb 3, 2022 1:02pm Feb 3, 2022 1:02pm
Quoting Wavegarrick
Wicked moves on Eurgbp today with the dollar tanking. Haven't seen this much movement in Eg for a while. Cheers. {image}

wow ...must have felt good catching this
  • #650,855
  • Feb 3, 2022 1:05pm Feb 3, 2022 1:05pm
Possible to bounce from 95 or breakdown.
Beast is following the trendlines.

DX Daily
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20220203-185655.png Size: 64 KB


On weekly EU chart still bearish but opened daily and clear uptrend from last week.
  • #650,856
  • Feb 3, 2022 1:05pm Feb 3, 2022 1:05pm
Quoting Jolita
{quote} Why EG is rising, should do the opposite, no? Is Euro stronger then GBP?
Because ECB admitted for the first time that inflation risks are elevated and to the upside, and kept the door open for rate hikes in late 2022. That's a big change in the wording.

Still EG long term direction is down. EU should continue to upside though.
You have to have an IQ higher than 90 to interact with this user.
  • #650,857
  • Feb 3, 2022 1:09pm Feb 3, 2022 1:09pm
Quoting Mitiblotch
{quote} You would have made a killing on EU if you had traded it, I believe. See the humongous spike there! Most stops there have been blown. If NFP is good tomorrow maybe we get a dip there. But 1350 needs a revisit there. All the levels it broke like a mad dog needs a revisit.
I would have made a killing if I'd held my buy from the low of the day and held it and not impulsively closed it too lol

I'd heard about some EU stuff, only just looking at the chart now-- to me this move would have happened eventually anyway on technicals

Anyway just strengthens my resolve, gonna look for a rally to sell tomorrow on GU

If I do get in at a good level just going to set the TP and walk away this time like I should have done today
  • #650,858
  • Feb 3, 2022 1:14pm Feb 3, 2022 1:14pm
it can gan go up a little more 30-40 pips , but tjen it can drop hard
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1.png Size: 19 KB
Click to Enlarge Name: gu2.png Size: 21 KB
yes yes yes
  • #650,859
  • Feb 3, 2022 1:29pm Feb 3, 2022 1:29pm
Expecting some profit taking tomorrow...so shorting spikes above 3600.
Everyone can see the chart, but only a few can actually read it.
  • #650,860
  • Feb 3, 2022 1:32pm Feb 3, 2022 1:32pm
Quoting nAVIN2007
{quote} wow ...must have felt good catching this
Hi Navin,
I ran from being ecstatic in my sell trade at 45 profit to a 15 pip loss and currently at 65 pips profit in my buy trade, So yes it felt good. Damn MF's as Moty would put it
Cheers, Bud.
Trade to trade another day
170 traders viewing now, 1 is registered: