Cable Update (GBPUSD)

Now it stuck in the middle.Very Annoying!!!
Evil I tell ya!Verry Evill!!

as we know money is the power of ultimate evil, sometimes good, but mostly evil.....just jokeing''


well if by any means this turns out to be one of the cable's evil ripof's then i probably go out and have some beer

Looking at the news reports in my view we can see that PPI at 0.7% means that inflation has been contained well by the FED.

On the other side of the coin retail sales reports at 0% and -0.2% this means poor growth and would add bias to a rate cut.

I will be looking at what happens in markets such as S and P an DOW jones. If we see a decent rise then I believe cable will rise.

resistance at 1.9820 is important - break this and we may see some climbs.

Looking at my charts nothing much on 30 min or hour however on 4 hour chart good divergence signal.

Hi all, i am surfing this short term trend down.

selling 1.9807 ....
target 1.9772 ...
Stop: 1.9827 ...

Thanks

I thought FX was supposed to be exciting....... I rushed back for this and so I missed Tight Tina's pole dance

At this stage even the devil itself feared this Evil Pips. Gonna stay out 4now. Dont want yesterday profit become todays loss. The most wise decission so far. Good luck 4 the rest of you guys!Take care!

Will need to see where the equity markets are at. If they go bid this may be positive for the crosses and cable. A breakout down below 1.9770 will see initial fall to short term support @1.9750. After that 1.9732 and then the abyss. To the topside above 1.9820 sees a gain to 1.9850. Watch the equity lead. Sorry about chart size it is on the fly on a new PC.

US Equity market futures pointing to slightly higher S&P +1.7
10am strikes likely dominating the action.

Hi everyone,
It's a strange day, movement is not clear, I have in mind 3 things that I could do
1- Play on breaks, either place a buy order @ 1.9815 or sell order @ 1.9760
2- Waiting for cable and see if it could reach a higher price, but fail to break , so to sell from this point, and vise versa
3- Shut down my pc and stop trading for today to save my yesterday profit, and start enjoying my weekend

Best regards and happy trading to you all

placed buy @ 810, target 850, and sl 780, now only need to go out and have a beer , cheers, I am from east europe, so it is almoust 5pm here, good tradeing rest of the day to all, see ya next week

EUR/USD needs to get above 1.3510. I am going short here and at 1.3525 with a stop at 1.3545. 10 am strikes should see whether cable can get over 1.9820. currently 1.9815/20

Thanks Cesar...

9830-40 area seems to be a good target for today.

I shoudl have posted this 2 hours ago (after the US news):

Something tells me that the BULLS are running wild!

You are right and they will help us make money today!

Wild, maybe on EURUSD but GBPUSD more tamely.

The story of the day is JPY!

JPY is dumping USD in favor or EUR, NZD, GBP and others..

Well, there is a negative divergence forming on the hourly chart for gbp/usd. I think it is already hit the max. Plus, the CFTC data this week shows that traders are dumping GBP.

There will be no further movement today. Traders are calling it a day ahead of the weeken.

There's a strong support line (LBT) on the GBP at 1.9764, which we identified on Thursday as the place where the GBP had to get to before it could bounce. We thought it was heading there on Thursday, but it did that nice bounce overnight. One of my guys set his limit to 1.9769 and went to bed for the night on Thursday, and woke up on Friday to a nice profit!

GBPUSD is in down trend, more sharply fall towards 1.9600 level can be expected next week. Near term resistance is at 2.0000, and key resistance is at 2.0132, only break above this level will signal the resumption of the up trend. For long term analysis, the pair will fall towards 1.9300 level to reach the next cycle bottom on weekly chart, and a break below the long term up trend line from 1.7250 (Apr 3, 2006 low) to 1.9212 (Mar 14, 2007 low) will confirm such case.