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Is it just me or is cable acting random? 44 replies

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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Hourly
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Quoting Theoak
{quote} Bank of England expected to make a statement today- Sky News | Forex Factory
you terrified pound
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Indicators on my chart help me guess the trade they do not guarantee result
Quoting Fardeen1209
{quote} The FED was already 2-3 meetings ahead when it first start to increase rate. ECB was dealing with anti fragmentation sh*ts BOE was acting as a sucka. Afraid for a recession. Now the recession becomes inevitable. {image}
energy crisis in Europe makes the contexts different i think, apart from other specific problems like the Brexit and a crazy government in the UK and the EU has the "lets no bankrupt a couple of countries" problem.
Quoting Pat Chiko
{quote} Just a speculation BoE might raise interest rates as much as 200bp or 2% via an emergency meeting. Problem is in doing so they will further impact an economy which depends on endless cheap credit to survive and risk imploding financial system via derivatives markets in the process. Do BoE and Treasury have enough FX pool to execute it ?
Well according to their statement from august 2022 they have 21.509 million $ it decreased notable this year. i think it was way above >30.000 million $ at one point (at least in march 30.964). i can not say with confident if this is a lot or not, but if you compare it with japans foreign exchange reserves which is 1.292.072 million $ (not sure if only boj or whole japan) it seems not a lot at all. but than again in my humble opinion it seems enough to maybe cool down the market a bit which could result in some long pips after all.

edit: in addition to your suggestion of a 200bp rise i find this hard to imagine. i would not rule it out 100% that's for sure but it would really surprise me a lot.

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Quoting Theoak
{quote} Bank of England expected to make a statement today- Sky News | Forex Factory
at what time??
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Indicators on my chart help me guess the trade they do not guarantee result
Quoting shivohum2015
{quote} at what time??
https://www.bbc.co.uk/news/live/business-63031372
Don't trade what you think. Just what you see!!!
Quoting Yngwie
{quote} Hopefully price reach or nearby 1.0840 or else Long at or nearby 1.0585
Demm miss my sell order
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naked trader ~ GBPUSD only!
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The mid-term bond market went up 300bp since August and 200bp since September.
At this point, the bank of England is a market follower, not a leader, they're that far out.
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#doyourownanalysisordietryin
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Looks about right

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Maximize wins, minimize loss, stay in the game as long as you can
Hello guys i missed,,, i learnt somewhere about pound intervention! Dd any of u heard it,
Is there any possibility that they are going to intervene
Synchronicity Price frequency......
YES!! YES!!! YEEEESSSS!!!! Finally I see that GBPUSD is raising. Now it's need just to break the level of 1.12440. Because the threat of falling still remains.
opened Short position
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Quoting Bones
The daily looks bullish, maybe on the rumour of the Bank Of England emergency action. We do have the opportunity to see the BOE does not need to act at all for the interest rates we pay to go up. Unfunded spending leaves only two options to borrow or print. Both are brand new money creations. How they stop cable falling is to close the delta between the US and UK REAL interest rates. Maybe. It did just hit the all-time low. 'Market experts said the Bank may need to increase rates by as much as one percentage point – to 3.25% – to steady the plunging...

Hi Bones, thanks for the chart.

I think step one. is most likely scenario is gilt sales get scrapped, with possibility for ecb style "stability" tool for back door gilt purchases too...

But, we shall see.
Will it be enough... ?
I come from the future.
Quoting Pat Chiko
{quote} Hi Bones, thanks for the chart. I think step one. is most likely scenario is gilt sales get scrapped, with possibility for ecb style "stability" tool for back door gilt purchases too... But, we shall see. Will it be enough... ?
We have observed that even with raising rates, the pound dropped.
rates again, even at 100bps, might move the needle but not enough.
It will be a temporary band-aid.
Tough place to be

It's not a sure thing.
In addition, increasing rates at such a pace is detrimental in the long run for the UK economy
I come from the future.
Quoting Steamroller
{quote} What is the size of your position? Is it micro, mini or full lots?
0.4 lots
Quoting Pat Chiko
{quote} GU Whichever cum first........{image}
GU

Follow the money, where is the liquidity.
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I come from the future.
Quoting Pat Chiko
{quote} We have observed that even with raising rates, the pound dropped. rates again, even at 100bps, might move the needle but not enough. It will be a temporary band-aid. Tough place to be It's not a sure thing. In addition, increasing rates at such a pace is detrimental in the long run for the UK economy
this is true however, dollar now should start falling, I reckon it has pretty much gone to where I thought it could go, an absolute extreme, I cannot believe it actually went this high!..pound needs to be high or it will hurt the economy ten fold
nuts are crossed

I cannot believe this sun bitch hit 103
look for fierce move up,
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