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Cable Update (GBPUSD)

  • #675,161
  • Aug 12, 2022 1:09am Aug 12, 2022 1:09am
Quoting Houtbay
My take on Gbpusd trend currently is downwards
im beraish too ...
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  • #675,162
  • Aug 12, 2022 1:10am Aug 12, 2022 1:10am
Quoting TheWolf
It is negative though, should be bad. Well, London will create a carnage nonetheless.
I think it's waiting for London. I wonder why they hav such data when London isn't online. I actually straddled the trade (something I haven't done in years). It picked my buy order at 2210 so now I am floating in minus.

Even if it goes up I don't think it can break 2280. The reaction is poor. US data generated over 200 pips. US is king anyway.
  • #675,163
  • Aug 12, 2022 1:10am Aug 12, 2022 1:10am
Usdjpy trend currently upwards
  • #675,164
  • Aug 12, 2022 1:11am Aug 12, 2022 1:11am
Eurusd trend currently upwards
  • #675,165
  • Aug 12, 2022 1:12am Aug 12, 2022 1:12am
Quoting Mitiblotch
{quote} I think it's waiting for London. I wonder why they hav such data when London isn't online. I actually straddled the trade (something I haven't done in years). It picked my buy order at 2210 so now I am floating in minus. Even if it goes up I don't think it can break 2280. The reaction is poor. US data generated over 200 pips. US is king anyway.
agreed yep
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  • #675,166
  • Aug 12, 2022 1:13am Aug 12, 2022 1:13am
Quoting Mitiblotch
{quote} I wonder why they hav such data when London isn't online.
I don't think it really matters.
  • #675,167
  • Aug 12, 2022 1:14am Aug 12, 2022 1:14am
Quoting Mitiblotch
{quote} I think it's waiting for London. I wonder why they hav such data when London isn't online. I actually straddled the trade (something I haven't done in years). It picked my buy order at 2210 so now I am floating in minus. Even if it goes up I don't think it can break 2280. The reaction is poor. US data generated over 200 pips. US is king anyway.
It's all about the USD.. 20 High-Impact news Monthly, Pound maybe 3 at best, although Retail Sales should also be considered High-Impact for GBP.
  • #675,168
  • Aug 12, 2022 1:15am Aug 12, 2022 1:15am
BOE 50bps hike next MPC?
well, that will depend on CPI report, but Uk's economy could take another 50bps hike based on today GDP numbers
More time in the market, does not mean you trade better!
  • #675,169
  • Aug 12, 2022 1:16am Aug 12, 2022 1:16am
Quoting Mitiblotch
{quote} I think it's waiting for London. I wonder why they hav such data when London isn't online. I actually straddled the trade (something I haven't done in years). It picked my buy order at 2210 so now I am floating in minus. Even if it goes up I don't think it can break 2280. The reaction is poor. US data generated over 200 pips. US is king anyway.
London forex desks trade from 0600/0630am London time onwards, it's London equities that open later - @ 0800am-1630pm London time.
Trader with an Edge.
  • #675,170
  • Aug 12, 2022 1:17am Aug 12, 2022 1:17am
Quoting BeeTogether
Data is good much better than expected.. 12130 not happening
Hard to tell. Quarterly is negative which is the most important out of all of these news. We'll see.. Usually when news for Pound are good, Frankfurt and London give 2 big Hourly candles..

Let's see the banks showing their hands, today could be crucial to determine if trend continues on not (Downtrend).
  • #675,171
  • Aug 12, 2022 1:19am Aug 12, 2022 1:19am
Quoting Headland
{quote} London forex desks trade from 0600/0630am London time onwards, it's London equities that open later - @ 0800am-1630pm London time.
Correct, but I think that's being pedantic. On the charts, evidence shows that volume comes in by the standard 8am. Everything happening now has been Frankfurt.
  • #675,172
  • Aug 12, 2022 1:19am Aug 12, 2022 1:19am
Quoting TheWolf
{quote} Hard to tell. Quarterly is negative which is the most important out of all of these news. We'll see.. Usually when news for Pound are good, Frankfurt and London give 2 big Hourly candles.. Let's see the banks showing their hands, today could be crucial to determine if trend continues on not (Downtrend).
better than expected tho
More time in the market, does not mean you trade better!
  • #675,173
  • Aug 12, 2022 1:19am Aug 12, 2022 1:19am
Quoting TheWolf
{quote} Hard to tell. Quarterly is negative which is the most important out of all of these news. We'll see.. Usually when news for Pound are good, Frankfurt and London give 2 big Hourly candles.. Let's see the banks showing their hands, today could be crucial to determine if trend continues on not (Downtrend).
need to see at us session
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  • #675,174
  • Aug 12, 2022 1:21am Aug 12, 2022 1:21am
Quoting Fardeen1209
{quote} better than expected tho
Yeah, but by 0.1% which I don't think makes any difference at all. 0.1% is the worst best case scenario for Q.
  • #675,175
  • Aug 12, 2022 1:22am Aug 12, 2022 1:22am
The major worry is the fact that 57% are buying.
  • #675,176
  • Aug 12, 2022 1:23am Aug 12, 2022 1:23am
i got an eye at 1.2166/5 region...highly suspicious @Gbp/Usd
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  • #675,177
  • Aug 12, 2022 1:23am Aug 12, 2022 1:23am
Quoting Mitiblotch
The major worry is the fact that 57% are buying.
Hourly candle looks ridiculous..
  • #675,178
  • Aug 12, 2022 1:25am Aug 12, 2022 1:25am
FTSE be like: Ok, we are not in a recession yet!
Attached Image (click to enlarge)
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More time in the market, does not mean you trade better!
  • #675,179
  • Aug 12, 2022 1:27am Aug 12, 2022 1:27am
Quoting Robinhood1
{quote} What do you say now. Its going down from this high
POSTMASTER
  • #675,180
  • Aug 12, 2022 1:28am Aug 12, 2022 1:28am
Quoting TheWolf
{quote} Yeah, but by 0.1% which I don't think makes any difference at all. 0.1% is the worst best case scenario for Q.
Agreed on that, cause worst case scenario GDP QoQ < -0.2% is being priced out rn!
They are closing their large short positions,
Overall, it is bearish
More time in the market, does not mean you trade better!
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