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Cable Update (GBPUSD)

  • #13,421
  • May 23, 2007 9:06am May 23, 2007 9:06am
Quoting bravado
already?
I'm not predicting it will get there. I'm just saying the daily chart has given me some indication that there could be more bullishness for the next few days. With 2.00 being only 140ish pips from where current sits now 2.00 isn't that far away when talking about usdollar and how quickly it can weaken.
  • #13,422
  • May 23, 2007 9:10am May 23, 2007 9:10am
Quoting el_duende
But im not counting out a bullish view either, I think markets are coming to a crossroads from my technical viewpoint
9860 is the line in the sand, man. Do not stick with bearish view just to make a point.

BTW, I'm not bullish until 9860 is taken out, then proven supportive. I'm just saying. Do not get married with your view...

The prevailing major trend is up. It can just resume.
  • #13,423
  • May 23, 2007 9:15am May 23, 2007 9:15am
moneyflow. mkts up = better return on instruments, etc. vs. cash sitting on the sideline.

Quoting bravado
weaker dollar means good business with foreign countries. mainly export. i'm sure cesarnc can come up with a better reason though.
  • #13,424
  • May 23, 2007 9:15am May 23, 2007 9:15am
That's hot...

10:12 Newswires reporting that UN IAEA says Iran is defying UN by pursuing uranium enrichment; Iran suspends cooperation with IAEA; IAEA's knowledge about Iranian efforts is deteriorating; UN can't declare program exclusively peaceful--all this coming as a large US naval presence is active in the Persian Gulf
  • #13,425
  • May 23, 2007 9:18am May 23, 2007 9:18am
Quoting cesarnc
That's hot...
Thanks Paris...er.... Britney
  • #13,426
  • May 23, 2007 9:21am May 23, 2007 9:21am
Quoting fx_ninja
moneyflow. mkts up = better return on instruments, etc. vs. cash sitting on the sideline.
can you explain this further?
BAM BAM BOOM! -bravado
  • #13,427
  • May 23, 2007 9:24am May 23, 2007 9:24am
Quoting cesarnc
9860 is the line in the sand, man. Do not stick with bearish view just to make a point.

BTW, I'm not bullish until 9860 is taken out, then proven supportive. I'm just saying. Do not get married with your view...

The prevailing major trend is up. It can just resume.
Hi,

I have been following your threads, you are one of the most knowledgable people on here!! do you trade for a living or have you traded for a company before? you seem to know alot about the mentality of brokers!!, this brings me on to your views I am both long the GJ and GU 239.39 and 1.9756 respect...I could close my positions or ride the wave, I can not see any resistance for the GJ but alot of people are saying there is for the GU.

This is my personal view and it go's back to my Futures trading days, there alot of privates caught on the short side on the GU, the spike on the GU was very strong and my belief is the traders will not let the shorts go and squeeeze it higher!! until they bottle out!!! any thoughts?
  • #13,428
  • May 23, 2007 9:26am May 23, 2007 9:26am
just to clarify, there is some good buying of british pound at the moment and selling of us dollar. so this move is not soley based on weakening of the dollar.
BAM BAM BOOM! -bravado
  • #13,429
  • May 23, 2007 9:26am May 23, 2007 9:26am
Quoting cesarnc
9860 is the line in the sand, man. Do not stick with bearish view just to make a point.

BTW, I'm not bullish until 9860 is taken out, then proven supportive. I'm just saying. Do not get married with your view...

The prevailing major trend is up. It can just resume.
I agree completely trend on dailys is up, im just waiting to be completely sure current bear trend is over.

I see that we are at critical levels in GBP/USD, EUR/USD, GBP/JPY and EUR/JPY all approaching top level resistances and at potential breakout points
  • #13,430
  • May 23, 2007 9:28am May 23, 2007 9:28am
9880 taken out.
BAM BAM BOOM! -bravado
  • #13,431
  • May 23, 2007 9:31am May 23, 2007 9:31am
Quoting london
Hi,

I have been following your threads, you are one of the most knowledgable people on here!!
agreed about cesarnc.
BAM BAM BOOM! -bravado
  • #13,432
  • May 23, 2007 9:35am May 23, 2007 9:35am
My bear view now gone took some losses today.

Is this return of current uptrend show here
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdtrend.gif Size: 18 KB
  • #13,433
  • May 23, 2007 9:43am May 23, 2007 9:43am
Quoting london
Hi,

I have been following your threads, you are one of the most knowledgable people on here!! do you trade for a living or have you traded for a company before? you seem to know alot about the mentality of brokers!!, this brings me on to your views I am both long the GJ and GU 239.39 and 1.9756 respect...I could close my positions or ride the wave, I can not see any resistance for the GJ but alot of people are saying there is for the GU.

This is my personal view and it go's back to my Futures trading days, there alot of privates caught on the short side on the GU, the spike on the GU was very strong and my belief is the traders will not let the shorts go and squeeeze it higher!! until they bottle out!!! any thoughts?
On my way to live out of forex yes, not paying the bills yet

Assuming new longs in GU now is risky, at least for my R:R demand. I'd rather stay off while consolidation takes place. Again, 9860 turned into support and I'm in.

But holding long from 9756 is worth taking partials and/or lock profits with SL and let it for the ride, imo.
  • #13,434
  • May 23, 2007 9:47am May 23, 2007 9:47am
I'm still new to this. Can somebody tell me what is the effect of Crude Oil Invetories (increase or decrease) to cable?

Thanks in advance!!!
  • #13,435
  • May 23, 2007 9:53am May 23, 2007 9:53am
I see it going over 2.000 within the next day or so.
“Past performance is not indicative of future results”
  • #13,436
  • May 23, 2007 9:57am May 23, 2007 9:57am
Quoting cesarnc
Assuming new longs in GU now is risky, at least for my R:R demand. I'd rather stay off while consolidation takes place. Again, 9860 turned into support and I'm in.
now you tell us. i'm already long on your advice. you should have stayed quiet. cable is going to dive now. horror.
BAM BAM BOOM! -bravado
  • #13,437
  • May 23, 2007 9:58am May 23, 2007 9:58am
GB keep going up but to where?!
The report said that they have to watch for the future datas coutiously means the new CPI will decide the rate hiking not today's report... I don't think that that the trend will rich the 1.99 .. I think now is the time for the downtrend again
I am going short at 1.9890
  • #13,438
  • May 23, 2007 10:04am May 23, 2007 10:04am
I don't know about you guys, but I call this B.S.

10:52 PAULSON SAYS CHINA AND U.S. ARE ON `LONG-TERM STRATEGIC ROAD'
  • #13,439
  • May 23, 2007 10:06am May 23, 2007 10:06am
Quoting ndvt241
GB keep going up but to where?!
The report said that they have to watch for the future datas coutiously means the new CPI will decide the rate hiking not today's report... I don't think that that the trend will rich the 1.99 .. I think now is the time for the downtrend again
I am going short at 1.9890
Thats what I thought today but i am wondering now wether the market is starting to price in another rate rise, (something similar to buy the rumour sell the fact)

The BOE all voted 25 base points but maybe due to that dovish bloke (cant think of his name lol) also voting for 25 points and they openly aknowledged they discussed a 50 base point rise this why market is buying on the potential of a rate rise

Any thoughts to help me as my BOE view has been abysmal so far?
  • #13,440
  • May 23, 2007 10:19am May 23, 2007 10:19am
Anyway guys got to go some good stuff posted today.

Time to watch my team Liverpool beat AC Milan in champions league final.

2 losses in 1 day is not worth thinking about
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