Cable Update (GBPUSD)

When I posted on the 16th of April I stated that when the top forms, cable will drop 500 pips. I had said I didn't think it would go over 2.0094. Well we know it went to 2.0132. My 500pip call made a few people laugh, I hope they didn't get caught going long. It hasn't completed 500pips, but 430 is pretty close. Now then next one to give a few people a laugh. When this bottom settles here which is pretty close, there will be a minimum of 300pip move, but from the cycles I have studied this must go over the high at 2.0132, even if it just by one pip. Then comes the next beauty, 900 pips + down from wherever the top settles. So start rolling on the floor.

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sounds good, looking forward to seeing if your prediction works. care to discuss the methods and analytical tools you use, and which system if any that you use?

I use market geometry and market astrology(which would give more people a laugh. I also was held back when I first heard of it) Market Astrology is my main tool followed by the different geometric setups that I see for giving the support,resistance and times to enter. None of the tools are available in the platforms except the lines and shapes in which to create them.

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GBP/USD by Felix Forbes

OK OK OK so the reason I lose so much is because I am a Scorpio ???

Hey I just looked it up... and there really is such a thing !!!!

GBP Bull may rejoice with this piece of advice from a broker:

USD appears poised to resume it’s downward trend. Sell USD on rally

TRADE CHOICE:

Allow Euro to ease a bit, then Buy Euro at 1.3500, stoploss 1.3450. Objective 1.3550, then 1.3600

Buy GBP at 1.9742, stoploss 1.9680. Objective 1.9870

Sell USD vs CAD at 1.0890, stoploss 1.0975. Objective 1.0800

Buy Aus at .8235, stoploss .8160. Objective .8300

at this level, you go long or short?

I still keep most of my short.

i don't think so cable will going up at this moment. No data could support it.

Cable contineu downtrend channel (H4)..

i am out now.. looking for entry long in 1.9825 or sell in 1. 9710 ..

TP : 30 pips SL 20 pips, just my strategy for today.

seeing the reaction to fridays positive USD news id say cable is oversold .. will the dt continue or will we have a dull monday?

what positions are you guys opening?

Im still wearing my shorts since 1.9850. wasnt able to close at 1.9700 but who knows if it would stall there?

I just noticed this report - once Europe wakes up, it may help cable and euro longs...


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KUWAIT CITY: Kuwait has abandoned pegging its currency to the U.S. dollar and returned to linking it to a basket of currencies, the Central Bank governor announced Sunday.
The fall of the exchange rate of the U.S. dollar has "contributed to local inflation," and the Cabinet decided Sunday to peg the Kuwaiti dinar to a basket of currencies instead, the Kuwait News Agency quoted the bank governor, Sheik Salem Abdul-Aziz Al Sabah, as saying.
The falling U.S. dollar has had "negative effects" on the Kuwaiti economy for the last two years, al Sabah told the state-owned agency.
Al Sabah told KUNA the move was "necessary for national interest," but that the U.S. dollar would continue to be part of the foreign currencies that determine the exchange rate of the Kuwaiti dinar.
This small oil-rich state has been a major ally of Washington since the U.S.-led 1991 Gulf War that liberated it from a seven-month Iraqi occupation under Saddam Hussein.
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He said the new basket of currencies would reflect Kuwait's commercial and financial ties, but did not provide further details about which country would be included.
Kuwait's Central Bank had previously switched from a basket of currencies to the greenback in 2003 to comply with requirements from a plan for a unified Gulf currency by the year 2010.
The six members of the Gulf Cooperation Council hope the move, similar to the creation of the Euro by the European Union, will boost regional trade and economic integration.
Along with Kuwait, the loose economic and political alliance groups Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and Oman.
Despite the central bank's decision, Kuwait remains "fully committed" to the unified Gulf currency by its target date of 2010, Al Sabah said.
de-adm
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1.9770/80 area looks good for a short ?

9890 Offers Stronger

9873 May 16 Hi
9872 May 15 Hi
9865/75 Offers

9845 SBR Med
9843 May 16 Ret Hi
9835/50 Offers

9804 SBR Med
9804 May 16 Ret Hi
9800 Stops Above

9787/92 May 17 Hi X 2

9778 May 17 Intra Hi
9778 May18 Hi
9776 May 18 Intra Hi
9775/90 Offers
9755 Asian Hi







9732 Sess Lo

9700 May 18 Lo

9685 Bids

9658 Fib 9183 / 20132 50.0
9650/70 Bids

9612 Apr 10 Lo

9591 Apr 9 Lo

9554 Mar 21 Sess Lo
9546 Fib 9183 / 20132 61.8

hi people....

I notice that there isnt much of US data today.....the rest of the data's are GBP....but it looks negative...do u think cable is goona go on a downtrend.....?if it is, any idea on its support area...? Need opinions on this.....thanks......

i think if it breaks 9720, it will test prior swing lo

The numbers released today seem worse for Gbp. Downtrend going on. I think it is on the way advancing to 19500.

i am short cable from 36 and short eur from 15, but eur needs to break pivot to 'catch up' with the cable weakness.

UK economy growing slow

Hi

today:best selling level 1.9770 ,best buing level 1.9700-9720

tommorro and the day later:best selling level 1.9840 /1.9910(max)


formation of major top at 2.0133 leads to decline to 1.9550 at least

Nice London Open Breakout setup on cable this morning. Only trade looking good according to my system.

Anyone else riding the open breakout?