Cable Update (GBPUSD)

if you don't knowh what ROFL means you are the one who needs english lessons...

Thanks.

Off-topic - Andy, I hope you caught this comment about CROWN,
Naughty or what?

I'm sorry. I am relatively new to FX trading and don't know what ROFL means. If it isn't too personal (please spare me more blushes) then please enlighten me.

I don't mean to offend, just a bit of banter.

ROFL - rolling on the floor laughing~

Oh, amusing.

TP 2.0045 position at 2.0070 +25. Moved 2.0028 to BE. Will try to get a free ride to 2.0100 on the news in 25 minutes.

Here is another one for you. LMAO - laughing my ass off.

I'n my opinion you are fine with those positions I also shorted at 2.0061 and my charts on the 1hand 4 hr shows that the fuel is almost over for cable and may retrace.around 1.9975 I was reading some forums and received several signals also placed stochastics in each chart and time frame from 30 mins to 4 hrs and all are up and starting to turn down.

also maybe time for a long in CAD since is oversold. Good luck

i'm with you

LONDON (Thomson Financial) - The pound was at day highs after a strong retail survey boosted expectations the Bank of England will raise interest rates beyond 5.50 pct over the coming months.

The Confederation of British Industry said the balance of retailers reporting year-on-year growth in sales volumes was +44 pct.

That was the fifth straight positive balance and the highest since May 2004. It was also far higher than March's +32 pct and analysts' expectations of a modest decline to +26 pct.

While markets have priced in a quarter point rate hike to 5.50 pct next week as a virtual certainty, the survey has boosted expectations for rates to rise further in the coming months.

"The robust CBI distributive trades survey not only cements a 25 basis point interest hike to 5.50 pct on May 10 but increases pressure for interest rates to rise further thereafter," said Howard Archer at Global Insight.

Earlier this morning the pound also received a slight boost from the April manufacturing PMI survey. Although the headline index reading slipped back slightly to 53.9 from 54.2, the output index rose to its highest since September last year and the price components also posted strong rises.

Meanwhile, the dollar was steady ahead of this afternoon's Institute for Supply Management's April Manufacturing Index. The US currency has been rangebound this morning with trade quiet due to public holidays across much of Europe and Asia.

The ISM index is expected to edge up slightly to 51.0 pct from 50.9.

Analysts at BNP Paribas markets will be paying close attention to the labour sub-index within the report ahead of Friday's US labour market report.

Meanwhile the euro was also stable with most of continental Europe observing the May Day holiday.

The only news of note is German labour minister Franz Muentefering saying tomorrow's German labour market data will show the unadjusted number of unemployed in German falling to 3.967 mln in April from 4.108 mln in March.

The seasonally-adjusted numbers are expected to show a narrower fall, but after several months posting strong drops in unemployment, the numbers are not expected to have much of an impact.

Elsewhere, the yen was stable, with concerns over Turkey's political crisis not yet spilling over into carry trades, which occur when investors borrow in low yielding currencies such as the yen to invest in high yielding currencies elsewhere.

Now that's just personal. Hmmphhh.

i think it will come down soon (probably by tomorrow) to 1.997x/2.0000 area and then up again.
anyway, i'm curious what are your long term views on this pair... like in 1-2 months.

This is Friday :

Today :

AHA ! should i raise the target to 0200 ? or wait 0100 first. or should i closed my long at 0070.

I better ask to my Beer Now........

09:54ISM Manufacturing out in a few minutes and the rumored results have been bouncing around for the last 30 minutes, with whispers heard of 50.00 and 55+, so the reaction will likely be somewhat confusing, but the dollar looks set to continue to trade to the weak side

Where did all the bulls go?

and we're down... i'm out at 2.0006, just made 60 pips...
i think there's still room for this short, maybe another 15 pips... but better safe than sorry, i've been burned too many times by this pair.

2.07+?

And the last 3 look like they'll hit TP. Last 1.999.

Rumors : Buyer exit at 0070 ......

Support at 1.9980?

Anyone knows where are the actual Support and Resistances are? ie, the Stops?

Interesting Inputs from TTN: