Cable Update (GBPUSD)

Quoting Scrat

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let's see if this works...
long @ 1.9779, TP @ 2.0051
stop entry long @ 1.9932, same TP.
no SL.

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Quoting 4x_Trader

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to justify your position i found this article awhile ago:

[[00:45 UK Econ: Speculation Grows That UK Rates May Hit 6% - UK Times][00:45 UK Econ: Speculation Grows That UK Rates May Hit 6% - UK Times]00:45 UK Econ:
Sydney, May 2: The UK Times reports in today"s edition that speculation is growing in London that the Bank of England might have to get more aggressive in their monetary policy and push rates to 6% in light of the strong CBI report released yesterday. The CBI report showed that retail sales surged ahead last month, to their strongest levels in almost three years. The report also showed that price pressures continue to build up in manufacturing as companies try to bolster profit margins. The current rate is 5.25%, but the market has already factored in another 25 BP hike to 5.5% by the BOE when they announce their verdict on May10. The GBP gained ground across the board when the CBI report was released yesterday with the EUR/GBP falling from 0.6825 to 0.6805 while the GBP/USD broketough resistance at 2.0060 to trade up to 2.0075 before falling sharply in the wake of strong US ISM data. The GBP/USD has traded with a heavy tone in Asia this morning, but the hawkish turn in BOE expectations should provide good support on dips from here. Key support is found at the 20-day MA around 1.9905 and buying dips with a stop below that level is the favoured strategy. The GBP/USD trades 1.9975/80.

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Quoting 4x_Trader

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to justify your position i found this article awhile ago:

[[00:45 UK Econ: Speculation Grows That UK Rates May Hit 6% - UK Times][00:45 UK Econ: Speculation Grows That UK Rates May Hit 6% - UK Times]00:45 UK Econ:
Sydney, May 2: The UK Times reports in today"s edition that speculation is growing in London that the Bank of England might have to get more aggressive in their monetary policy and push rates to 6% in light of the strong CBI report released yesterday. The CBI report showed that retail sales surged ahead last month, to their strongest levels in almost three years. The report also showed that price pressures continue to build up in manufacturing as companies try to bolster profit margins. The current rate is 5.25%, but the market has already factored in another 25 BP hike to 5.5% by the BOE when they announce their verdict on May10. The GBP gained ground across the board when the CBI report was released yesterday with the EUR/GBP falling from 0.6825 to 0.6805 while the GBP/USD broketough resistance at 2.0060 to trade up to 2.0075 before falling sharply in the wake of strong US ISM data. The GBP/USD has traded with a heavy tone in Asia this morning, but the hawkish turn in BOE expectations should provide good support on dips from here. Key support is found at the 20-day MA around 1.9905 and buying dips with a stop below that level is the favoured strategy. The GBP/USD trades 1.9975/80.

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Quoting Traex

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Looks like I'm the only one still shorting.. maybe it might go up soon tho, let's see. Want it to go down further tho.

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Quoting PipVip

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No luck, so I think I'll pick up another long around 1.1920ish where my next major trend line is drawn.

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Quoting marketwavez

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Here we are ........

The Us Dollar is bottoming out ? ........What do you think ?

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Us Dollar

-Is the Usd/Chf firming up ? ...........

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Got my eye on you baby http://www.moneytec.com/forums/images/smilies/cool.gif....

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Quoting Traex

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Looks like I'm the only one still shorting.. maybe it might go up soon tho, let's see. Want it to go down further tho.

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Quoting marketwavez

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Girl fyer
The Us dollar looks like maybe its bottomed

Here is a chart update

You are right -

Can we make it to the the 2nd target
before the end of this week ?

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If the US Dollar reaches these extremes it could be a problem for the Cable bulls .

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Just a thought......... - Not cast in Stone !

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