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Cable Update (GBPUSD)

  • #12,061
  • May 4, 2007 7:49am May 4, 2007 7:49am
I think that the GBP will go lower to test the 1.9820 ish area
  • #12,062
  • May 4, 2007 7:51am May 4, 2007 7:51am
Quoting ashlee_17
price action not as expected
n.f.p. not what it use to be, been like that for awhile now.
If I Go Broke Trying Then I Will die happy.
  • #12,063
  • May 4, 2007 7:55am May 4, 2007 7:55am
I am long since 1.9850


regards
B

http://img87.imageshack.us/img87/7743/buygbpusdlh2.jpg
  • #12,064
  • May 4, 2007 7:55am May 4, 2007 7:55am
<100K as I guessed, but not too below.. slight revision, too.... Not a NFP to go to the hall of fame...
  • #12,065
  • May 4, 2007 7:56am May 4, 2007 7:56am
Im keeping the trade open goonergonebad for a while, watching closely

I believe we may see more North movement upto as far as maybe 1.9950 -80, watching closely though as report not as strong as I expected

Also Euro breaking through 1.3590 area is important
  • #12,066
  • May 4, 2007 7:59am May 4, 2007 7:59am
Quoting cesarnc
<100K as I guessed, but not too below.. slight revision, too.... Not a NFP to go to the hall of fame...
Mwwwweeeee... (cat agree)

Quote
DJ Dollar Slips On April Payrolls Data
04.05.07 14:44:00- APIN
By Isabelle Lindenmayer
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--The dollar slipped modestly early in New York Friday
following news that U.S. employment grew at its slowest pace in more than two
years in April.
Non-farm payrolls increased 88,000 in April, after growing 177,000 in March
and compared to an expected gains of 110,000, causing the greenback to lose
ground against its major rivals.
Yet the losses have so far been modest and relatively short-lived, as the
dollar suddenly retraced some of its losses only to reverse course again, and
continues to fluctuate.
Early in New York, the euro was trading at $1.3570 from $1.3558 late Thursday,
while the dollar was at Y120.19 from Y120.42, according to EBS. The euro was at
Y163.10 from Y163.22 late Thursday. The dollar was at CHF1.2145 from CHF1.2160,
while the U.K. pound was at $1.9888 from $1.9886 late Thursday.
  • #12,067
  • May 4, 2007 8:05am May 4, 2007 8:05am
Quoting dswk
Mwwwweeeee... (cat agree)
I can't believe my eyes, this news, the crap is just stay here, no big move.

How manipulation works now?

It should be at least 100 pips.

If this kind of news can't move it up, what kind of ones can?
  • #12,068
  • May 4, 2007 8:05am May 4, 2007 8:05am
Quoting x3m
Hi All. I hope everyone is alive. The impact was not as hard as everyone expected. I think GU is heading north to 2.0000. Question is how fast? Today?
For me, it all depends on how much rate hike hype has been factored in by the big players. Also, have they anticipated a 0.5% hike or just a 0.25% hike.
In addition, much has been made on this thread lately of the market historically behaving in an unexpected way over GBP interest rate strength. I have to agree, statistics (not damn lies) do appear to bear this rationale out.

However, I am now of the belief that US led market sentiment is on the wane and we may need to look to the euro for trend guidance in the not too distant future.

JM2C

I think that Cesarnc is correct that probably a $2+ standard is not that far away.

To get back to your post, yes 2.00 soon via 1.9975 my target yesterday.

Again, JM2C
  • #12,069
  • May 4, 2007 8:11am May 4, 2007 8:11am
yup, NFP is loosing its big-mover status
  • #12,070
  • Edited 8:15am May 4, 2007 8:14am | Edited 8:15am
Quoting goonergonebad
For me, it all depends on how much rate hike hype has been factored in by the big players. Also, have they anticipated a 0.5% hike or just a 0.25% hike.
In addition, much has been made on this thread lately of the market historically behaving in an unexpected way over GBP interest rate strength. I have to agree, statistics (not damn lies) do appear to bear this rationale out.

However, I am now of the belief that US led market sentiment is on the wane and we may need to look to the euro for trend guidance in the not too distant future.

JM2C

I think that Cesarnc is correct that probably a $2+ standard is not that far away.

To get back to your post, yes 2.00 soon via 1.9975 my target yesterday.

Again, JM2C


I agree, back up to 2+ as a larger wave B, but where to enter again so not to risk too much drawdown as I think some buy stops need to be blown for the surge to 2.

Where to enter? mmmmmmmmm
Eish! If you don't fly with the eagles you'll scratch with the turkeys
  • #12,071
  • May 4, 2007 8:15am May 4, 2007 8:15am
Quoting wshhmm
I can't believe my eyes, this news, the crap is just stay here, no big move.

How manipulation works now?

It should be at least 100 pips.

If this kind of news can't move it up, what kind of ones can?
No it shouldn't. Last month's moved 50 by the larger than expected 180K and stopped. Dropped another 50 on Monday...

Today it moved 50 pips with a close to forecast figure and slight revision.... Stop hunting and Friday's position exits and fixes are left from now on....

I added to my long above 9900 as planned, some of lots I decided to pull-out ahead of the news...

I'd like to see at least 1 tick above y'day high, to cut this lower highs/lower lows formation.... Guess I'll be left in the wanting...
  • #12,072
  • May 4, 2007 8:23am May 4, 2007 8:23am
I'm finished. I see some good positions here. I didn't catch it but it's been a good week nevertheless.
Do not focus on making money; focus on protecting what you have.
  • #12,073
  • May 4, 2007 8:25am May 4, 2007 8:25am
Quoting cesarnc
No it shouldn't. Last month's moved 50 by the larger than expected 180K and stopped. Dropped another 50 on Monday...

Today it moved 50 pips with a close to forecast figure and slight revision.... Stop hunting and Friday's position exits and fixes are left from now on....

I added to my long above 9900 as planned, some of lots I decided to pull-out ahead of the news...

I'd like to see at least 1 tick above y'day high, to cut this lower highs/lower lows formation.... Guess I'll be left in the wanting...
Short term, it should go up, but i am not sure it can pass yesterday's high.
  • #12,074
  • May 4, 2007 8:27am May 4, 2007 8:27am
Quoting wshhmm
I can't believe my eyes, this news, the crap is just stay here, no big move.

How manipulation works now?

It should be at least 100 pips.

If this kind of news can't move it up, what kind of ones can?
hot money buying gold on the news. since you need dollars to buy gold (futures), the reaction in eur/usd & gbp/usd has been muted. maybe wait for the hot money to take profits in gold, before we see it moved back into the forex market?
  • #12,075
  • May 4, 2007 8:37am May 4, 2007 8:37am
Long 9926
  • #12,076
  • May 4, 2007 8:48am May 4, 2007 8:48am
Quoting x3m
Long 9926
If I may ask; why are you long at that price?
  • #12,077
  • May 4, 2007 8:49am May 4, 2007 8:49am
FED, as becoming usual, A MESS....

[LABOR, LAGS AND THE FED] Trends in the jobs market are softening, just as Fed officials have expected. They think a 70k-100k average monthly pace of hiring is what they expect, and what will make them happy, from a policy point of view. We think that, if you take 3 common complaints from Fed officials and stand them up together, you can find an explanation for their insistence that inflation remains the greater worry.

One complaint is that the data are unreliable.

Another is that the labor market has remained tighter than they had expected.

The third is that core inflation stopped slowing.

If you don"t trust the data, and if labor market and core inflation data both suggest slower growth isn"t working its disinflationary magic, then your inflation fighting mandate tells you to err on the side of monetary restraint. That argument won"t hold up long if we keep seeing jobs reports like today's.
  • #12,078
  • May 4, 2007 8:51am May 4, 2007 8:51am
first barrier... 1.9925/35
  • #12,079
  • May 4, 2007 8:54am May 4, 2007 8:54am
Quoting indigo
hot money buying gold on the news. since you need dollars to buy gold (futures), the reaction in eur/usd & gbp/usd has been muted. maybe wait for the hot money to take profits in gold, before we see it moved back into the forex market?
Hi Indigo, can you please explain "since you need dollars to buy gold (futures)". I know nothing about futures, even less about gold. But, are you serious? gold is only traded in $?.
I am agog if this is true, in this day and age, when we have the mighty euro.... and many other wonderful non US things - like... Oh I don't know, like Simon Cowell or David Beckham - ohhhh. I forgot, you poor yanks....
  • #12,080
  • May 4, 2007 8:55am May 4, 2007 8:55am
Quoting The Cable Guy
If I may ask; why are you long at that price?
A break out level set earlier today was trigegred. So far no good. :-(
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