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Cable Update (GBPUSD)

  • #11,261
  • Apr 26, 2007 1:39am Apr 26, 2007 1:39am
Just wondering if this will have any effect on currency?

http://www.channelnewsasia.com/stori...272581/1/.html

regards
jest
  • #11,262
  • Apr 26, 2007 1:56am Apr 26, 2007 1:56am
today is the day its going to break 2.0060. dont mind me Im a noob.
  • #11,263
  • Apr 26, 2007 2:08am Apr 26, 2007 2:08am
hi all

I think 2.0075 is a hard resistance for the cable and if cable pass it we 'll see 2.0116

thanks
  • #11,264
  • Apr 26, 2007 2:22am Apr 26, 2007 2:22am
April 26. Option-related sell interest has reportedly helped to prevent cable
vaulting 2.0062 (yesterday"s high) since the Nationwide"s 06:00GMT disclosure of
stronger-than-expected UK house price data. A Swiss name was reportedly a big
seller into 2.0062 yesterday.
There is also speculation that M&A-related supply may be helping to keep a lid
on GBP/USD. The M&A deal-in-the-frame is AstraZeneca"s $15.6bn cash purchase of
MedImmune. Prior selling related to that deal helped depress sterling to a
one-week low of 1.9955 on Tuesday. An exotic option barrier is tipped at 1.9950.

Sterling bids are noted at 2.0000/05. 2.0005 was yesterday"s NY session low.
Middle Eastern buying of cable was seen yesterday and Tuesday.
According to the Nationwide: UK house prices have risen by another 0.9% this
month--a 0.6% increase was forecast, and stand 10.2% higher on an annualized
basis. BoE MPC member Paul Tucker is slated to speak at 14:05GMT. Tucker voted
against January"s 25bp UK rate hike. [email protected]



[IFR Forex Watch]
[SQUAWK BOX]
  • #11,265
  • Apr 26, 2007 2:25am Apr 26, 2007 2:25am
Quoting mrroboto
1) today is the day its going to break 2.0060.
2)dont mind me Im a noob.
wtf..

now that was a waste of my bandwidth. reading that.

i expect an apology.
BAM BAM BOOM! -bravado
  • #11,266
  • Apr 26, 2007 2:31am Apr 26, 2007 2:31am
Quoting nuancom
April 26. Option-related sell interest has reportedly helped to prevent cable
vaulting 2.0062 (yesterday"s high) since the Nationwide"s 06:00GMT disclosure of
stronger-than-expected UK house price data. A Swiss name was reportedly a big
seller into 2.0062 yesterday.
There is also speculation that M&A-related supply may be helping to keep a lid
on GBP/USD. The M&A deal-in-the-frame is AstraZeneca"s $15.6bn cash purchase of
MedImmune. Prior selling related to that deal helped depress sterling to a
one-week low of 1.9955 on Tuesday. An exotic option barrier is tipped at 1.9950.

Sterling bids are noted at 2.0000/05. 2.0005 was yesterday"s NY session low.
Middle Eastern buying of cable was seen yesterday and Tuesday.
According to the Nationwide: UK house prices have risen by another 0.9% this
month--a 0.6% increase was forecast, and stand 10.2% higher on an annualized
basis. BoE MPC member Paul Tucker is slated to speak at 14:05GMT. Tucker voted
against January"s 25bp UK rate hike. [email protected]



[IFR Forex Watch]
[SQUAWK BOX]
Euro holding Cable back. Central bank also anxious about strength of Euro. But, a lot of bullishness out there. Patience!
  • #11,267
  • Apr 26, 2007 3:09am Apr 26, 2007 3:09am
My broker's high for the day is 2.0059; my Sell Limit @ 2.0060 wasnt triggered. Just great!
  • #11,268
  • Apr 26, 2007 3:12am Apr 26, 2007 3:12am
DJ MARKET TALK: UK Clearer On The Bid In Cable - Trader

Thu Apr 26 04:08:26 2007
EDT

0808 GMT [Dow Jones] A UK clearer has been seen on the bid in cable Thursday,
the second day on the run, says trader. The buying is believed to be linked
with dividend payments the bank has to make in May, with talk of around USD4B
worth of sterling needed. Cable is at 2.0040 and has not broken below 2.00
since Tuesday.
Tra-X
  • #11,269
  • Apr 26, 2007 3:27am Apr 26, 2007 3:27am
Quoting BurgerKing
My broker's high for the day is 2.0059; my Sell Limit @ 2.0060 wasnt triggered. Just great!
Same here... damn. Just reduced my overall positions now, mostly at B/E. As Ms. EURO is the one calling the shots, better stay with an eye on it until she decides what is gonna happen.

Next London hours usually defines the direction, as price is within 30 pips range from Franfurt open, there's a chance of (the classic) head fake, reversed this time.

I just can't take another 0030-0060 day, no sir
  • #11,270
  • Apr 26, 2007 3:36am Apr 26, 2007 3:36am
Mine only reach .0058. Seems like taking another swing to test .0060 again. Anyone going to dip fishing again??
  • #11,271
  • Apr 26, 2007 3:43am Apr 26, 2007 3:43am
Quoting dd33
Mine only reach .0058. Seems like taking another swing to test .0060 again. Anyone going to dip fishing again??
I like fishing when there's 50+ pips on the table.... Now this 0060 freaking ARMY is making me cautious/nervous/pissed off. I'll reenter on (if) crack
  • #11,272
  • Apr 26, 2007 3:45am Apr 26, 2007 3:45am
Quoting dd33
Mine only reach .0058. Seems like taking another swing to test .0060 again. Anyone going to dip fishing again??
My broker reached .0059. I'm short at .0052. I just wait and see what will happen..
  • #11,273
  • Apr 26, 2007 3:52am Apr 26, 2007 3:52am
Yesterday on the hour chart we had a similar situation to that which is happening now - rapid descent to support, 1 hour consolidation then a strong surge north. IF this occurs today it should break the resistance as it's starting from a higher base, also Bollinger bands have opened up. BUT if rejected again watch for the rapid retracement towards 2.0010.

monny a mickle macks a muckle
  • #11,274
  • Apr 26, 2007 3:55am Apr 26, 2007 3:55am
Reversed H&S forming in the 4hr? Neckline (guess who?) 0060, target 0131?
Attached Image
  • #11,275
  • Apr 26, 2007 3:56am Apr 26, 2007 3:56am
Hi
I can see a clear trendline AND daily pivot at 2.0025 I think it will start to rise from here again. I'm on the "stayaway" side right now, I don't like this range-bound thing AGAIN happenning
  • #11,276
  • Apr 26, 2007 3:57am Apr 26, 2007 3:57am
Quoting cesarnc
Reversed H&S forming in the 4hr? Neckline (guess who?) 0060, target 0131?
We all know who. However the mention of his name means bad omen for cable.
Tra-X
  • #11,277
  • Apr 26, 2007 4:34am Apr 26, 2007 4:34am
Ends up to be a double top.. And fallin hard...
  • #11,278
  • Edited 4:53am Apr 26, 2007 4:36am | Edited 4:53am
From MNI : Inflation Expectations Hold Steady

London : The shock rise in hedline CPI to 3.1% in March failed to boost public inflation expectations according to the latest survey by pollsters YouGov for Citygroup. The survey was conducted between April 18 and 24 after the shock March CPI data was released.

So long to the rumors of a 0.5 rate hike
  • #11,279
  • Apr 26, 2007 4:42am Apr 26, 2007 4:42am
Quoting dd33
Ends up to be a double top.. And fallin hard...
EURJPY printed multi-year highs.... All to start dumping it in the next candle
  • #11,280
  • Apr 26, 2007 4:44am Apr 26, 2007 4:44am
Time is coming
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