Cable Update (GBPUSD)

Quoting Pat Chiko

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{quote} Adding to that point, the global economic and monetary system is centered and leveraged around the US and the USD. This is why in a deleveraging episode other currencies struggle and foreign Central Banks might have second thoughts about tightening. The Fed doesn’t.

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Quoting VM45

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{quote} I don't think BOE is manipulating the G/U, they just don't have enough currency reserves. Even BOJ finds it difficult to fight yen depreciation, and BOJ has way more reserves. G/U (and E/U) rise since last week did not make sense fundamentally, but should be attributed to big banks that wanted to squeeze the shorts. Also, now that the medium-term direction for G/U is clear (down to 1.05 at least, maybe to parity or even below), they wanted to sell from high.

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Quoting VM45

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{quote} I don't think BOE is manipulating the G/U, they just don't have enough currency reserves. Even BOJ finds it difficult to fight yen depreciation, and BOJ has way more reserves. G/U (and E/U) rise since last week did not make sense fundamentally, but should be attributed to big banks that wanted to squeeze the shorts. Also, now that the medium-term direction for G/U is clear (down to 1.05 at least, maybe to parity or even below), they wanted to sell from high.

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Quoting trumps

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I get the feeling the decisive move will be left to Friday as is often the case in these situations.

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Quoting Pat Chiko

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{quote} Thanks for your comment VM45. Yes, that's right initially the USD drags every other currency in that matter but finally bites the dust, people are scared about the rising USD the falling USD will be even more scary.

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Quoting Waveskierrob

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{quote} ...ps everyone if you are interested in my live trades read my posts from end of July to mid September you may find 1 or 2....thanks

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Quoting Headland

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{quote} Great post. Yeh, Govt and central Bank Policy is what moves currencies from the supply/demand resulting for them, from it. Yes direct intervention in the market can have an effect, (think eurchf - swiss defending that €1.20 handle,) But when they removed the €1.20peg - a policy decision, well - lol. In the run-up from 1.0327 yes some weaker 'position' traders' stops will have been triggered, retail and institutional players, fundie and technical, and to that extent it could be seen as a squeeze. Whether the move down off 1.1495 will continue...

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Quoting Moty

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{image} {image}

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Quoting navk

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Ok. I am back. Let's be ready for Asia. Had a fantabulous Thursday. Had some pending buy orders at lows and all picked up Closed all ( During the movie!) Look forward to Asian Friday.

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Quoting Wavegarrick

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{quote} So stop being stupid. post your live trades. Simple

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Quoting Georginson

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{quote} Hello Leon, Waveskierobb, Pat and Headland... Please you all are senior members and I want to plead to you all to let peace reign... I know Pat doesn't get involved again but at the same time this conflict has been lingering for quite a well now and it needs to stop for good. Let's all focus on trading, please no more confrontations and unfriendly banter. I beg you all.

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Quoting BeeTogether

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{quote} how was the movie? Asian session could play like the rest of the week, up before Europe brings it down

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Quoting Pat Chiko

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{quote} Thanks for joining this discussion, which I'm limited knowledge in it. AS I was observing this intervention by BOE, if we compared to the US, UK it’s a small country.(really - no offence) There’s no way official intervention can fight market expectations/pressures. It’s like handing over future tax receipts to hedge fund managers.

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Quoting Pat Chiko

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As Newbie, I got much to learn from members of this thread. Come noob question. I'm here to learn. In fact, can anyone tell/enlighten me why GBP even bounced on this gilt intervention especially after BOE showed their hand on the fragility of their pension system? Something not right here, or somebody making deal to short GBP high up there. Can someone tell me please, the strength of the pound for all these years? Kuwaiti dinar I understand. But why was the pound so strong? When a government (UK) says “do not short our currency”, that should be...

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Quoting Pat Chiko

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{quote} You are one of the first people Ive heard make this point, last few week. (not sure date) Some traders not willing to share "Live Trades", as it may affect their reputation. Rather putting up live trade, or making trade calls, they prefer to show "hind sight" post trade chart. In the cleverness of hindsight, things look so easy and one can look smarter in their trades. We all know 20/20 hindsight is always perfect... Its just that knowing how markets work and what moves them simply does not permit me to believe that a series of numbers can...

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Quoting Bella.al

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{quote} Current Rate : 1.12216 i am +134 Pips in profit as i write this, cable took yesterday's low and waiting to see how the day ends . Target still holds for 1.11072 which i will revise later. {image}

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