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Cable Update (GBPUSD)

  • #669,121
  • Jul 13, 2022 1:10am Jul 13, 2022 1:10am
Quoting BeeTogether
And breathe bulls
on h1
price still above 20 / 50 sma so in the near term i do not get any reliable shorts
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  • #669,122
  • Jul 13, 2022 1:13am Jul 13, 2022 1:13am
What this tells me is that we're trending back up.
Range top edge blown away and disrespected.
  • #669,123
  • Jul 13, 2022 1:13am Jul 13, 2022 1:13am
Quoting BeeTogether
And breathe bulls
UK GDP comes in higher than forecasted - strong day ahead

Technically, UK has avoided a RECESSION with a 0.5% GROWTH in GDP.

Small growth but some growth is better...
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #669,124
  • Jul 13, 2022 1:14am Jul 13, 2022 1:14am
Quoting Houtbay
If one speaks to the average consumer or business owner one can get an overall direction of where the economy is heading. In South Africa we have the added mix of power outages daily because we have a lack of supply.
south african coastline, particularly cape of good hope is known for constant sea storms

which is excellent recipe for harnessing wave power to generate eletricity

a 5500 MW power can be easily generated solving energy issues.

discuss this idea with your local government.
  • #669,125
  • Jul 13, 2022 1:16am Jul 13, 2022 1:16am
Uk data was very good yet despite that the spike peaked at 11938 and we are down back to pre 7am levels strange
Insane in the Brain..
  • #669,126
  • Jul 13, 2022 1:17am Jul 13, 2022 1:17am
Quoting Robinhood1
{quote} Taking the lift down to 1.1750 and then will have to walk the stairs upto 1.1980. From there, take the express lift to around 1.1200
Someone held the lift on the upper floor. Let´s see today
POSTMASTER
  • #669,127
  • Jul 13, 2022 1:18am Jul 13, 2022 1:18am
Quoting BeeTogether
Uk data was very good yet despite that the spike peaked at 11938 and we are down back to pre 7am levels strange
Under Skirt Inflation data later today.
  • #669,128
  • Jul 13, 2022 1:23am Jul 13, 2022 1:23am
Quoting navk
R1 is what I am looking for. Possible sell off from there.
Boom,

It hit my TP. 1932.

Intraday only.
  • #669,129
  • Jul 13, 2022 1:23am Jul 13, 2022 1:23am
So folks I’m might be off line from later on tonight for a few days as my ass is jetting off on holiday. As an FF addict I will post thoughts charts and data reactions as per normal as and when I get a chance.
Insane in the Brain..
  • #669,130
  • Jul 13, 2022 1:26am Jul 13, 2022 1:26am
Quoting BeeTogether
So folks I’m might be off line from later on tonight for a few days as my ass is jetting off on holiday. As an FF addict I will post thoughts charts and data reactions as per normal as and when I get a chance.
EURUSD at parity can provide an excellent trade in 2023 / 2024 when US interest rates start falling again / iflation drops below 3% year on year.
  • #669,131
  • Jul 13, 2022 1:27am Jul 13, 2022 1:27am
Quoting BeeTogether
Uk data was very good yet despite that the spike peaked at 11938 and we are down back to pre 7am levels strange
They are still sleeping.
Another 30 mins they will only switch on their Computers.......

FTSE 100 to slip as pound rises on better UK GDP
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #669,132
  • Jul 13, 2022 1:28am Jul 13, 2022 1:28am
Classic banks bullshi* going on at the moment. Only question is when are they going to price this in, now or after NYO.
  • #669,133
  • Jul 13, 2022 1:28am Jul 13, 2022 1:28am
Quoting BeeTogether
So folks I’m might be off line from later on tonight for a few days as my ass is jetting off on holiday. As an FF addict I will post thoughts charts and data reactions as per normal as and when I get a chance.
Enjoy , anywhere nice ?.....of course or you wouldn't be going there
  • #669,134
  • Jul 13, 2022 1:28am Jul 13, 2022 1:28am
DXY chart also rejecting the pullback on UK GDP. CPI will do the work.
I think EU eyed for 0.9858?
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More time in the market, does not mean you trade better!
  • #669,135
  • Jul 13, 2022 1:30am Jul 13, 2022 1:30am
edited * wrong post
  • #669,136
  • Jul 13, 2022 1:45am Jul 13, 2022 1:45am
Quoting Waveskierrob
{quote} Enjoy , anywhere nice ?.....of course or you wouldn't be going there
malta, should be fun i hope although all of us are feeling like crap after getting Covid 2 weeks ago (after avoiding it for 2.5 years)
Insane in the Brain..
  • #669,137
  • Jul 13, 2022 1:50am Jul 13, 2022 1:50am
Since early May gu has been working on a descending wedge formation with each new low. This could lead to an explosive top-side move.
These patterns are explosive combine both a contraction in volatility with a reversal in trend that catches the market on its heels.
average dude treading water
  • #669,138
  • Jul 13, 2022 1:56am Jul 13, 2022 1:56am
Quoting BeeTogether
Uk data was very good yet despite that the spike peaked at 11938 and we are down back to pre 7am levels strange
Hi Sohail.

You've good observation talent.

I was joking on the Brits are lazy to wake up early to works. Sorry to all Brits traders here....

Now back to UK GDP ( serious note)
We look at details of the GDP component with overall positive numbers released.

Maybe everything is actually ok in the UK given this latest GDP report.
Wonder whether forward-looking markets will "buy" this?
The canary in the coal mine from the GDP report: "Output in consumer-facing services fell by 0.1% in May, driven by a 0.5% fall in retail trade"
Attached Image (click to enlarge)
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And the type of consumer-facing sectors declining are the ones that you would expect if household incomes are being squeezed.
Holidays + spending on travel is not sustained demand GBP. ( Nothing to do with your intended holiday...)
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Those heavy numbers on top are only temporary, not going to sustain. The detail outlook still look no good for GBP.
It looked to be a bit rose tinted......

Have a great day and BeeTogether..!
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #669,139
  • Jul 13, 2022 1:56am Jul 13, 2022 1:56am
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  • #669,140
  • Jul 13, 2022 1:59am Jul 13, 2022 1:59am
My view is that we still have upside to cable.
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