Cable Update (GBPUSD)

Liver - I might be concerned about the shorts! haha

someone wake me up,..please. i must be dreaming...lol

Prolly trading naked - less stress on his shorts.....

http://www.forexfactory.com/images/icons/icon11.gif

i am using the strategey over here in cable to short above 35 & cover at below 20 this prooves to be a good for me coz i make 120 pips from this & also i use 50 sma vs 50 ema for looking at strategy this prooves to be a good coz it is showing that cable is bearish & can fell any time with huge difference

try to look at 60 min. chart using 50 sma & 50 ema indicators u all will come to know wat is happening

look it is going down
at the time i was short @ 1.9940 & 1.9935

VERY NICE STRATEGY.
THANKS FOR SHARING

Is this strategy be workable for daily chart also?

By Nicholas Hastings A DOW JONES NEWSWIRES COLUMN LONDON (Dow Jones)--The pound once again looks set to rally over $2.00. But, once again, the U.K. currency isn't likely to climb much above this level. "We look for gains into the 2.0000-2.0035 band and we suspect the rally may stall here on the initial test," said Karen Jones, technical analyst at Commerzbank in London. The last time sterling made it over $2.0000 April 18, it only climbed as far as $2.0133. The latest rally is taking place despite the fact that the Bank of England is expected to confirm later in the day that it is leaving interest rates unchanged for now at 5.50%. However, recent economic data suggest the U.K consumer remains relatively robust, and expectations of another rate hike in July are on the rise. "Although we expect rates to remain unchanged this week, hawkishness on the monetary policy committee is likely to remain in place suggesting that a hike in July is possible," said Ian Stannard, a senior currency strategist with BNP Paribas in London. "Thus, support for sterling is expected to remain strong," Stannard said. Trevor Dinmore, a currency strategist with Deutsche Bank in London, reckons that other factors will also work in the currency's favor. "Overall, the short-term environment for the pound is favorable, with the prospect for further rate rises over the coming months, G10 high yielding currencies showing strength after a period of range trading, central bank reserves still growing quickly with larger shares allocated to sterling in recent years, and a recent recovery in M&A inflows after a shift to outflows early in 2007," Dinmore said. The latest data to lift sterling sentiment was the Nationwide consumer confidence survey, which showed the main sentiment index rising to 99 in May instead of remaining unchanged at 90 in April as expected. The increase, which took confidence to the highest level in 18 months, came despite last month's rise in interest rates and suggests that the consumer is responding more to the recent decline in headline inflation rates. The rise in the Nationwide survey echoed a similar improvement in the last Gfk sentiment survey. Also, the latest Purchasing Manager's Index for the services industry came in earlier this week up at 57.2 in May, instead of remaining unchanged at 57.0 as expected. "The index revealed continued expansion in service sector business activity, significant because the service sector represents about 75% of the U.K. economy," noted Lena Komileva, group G7 economist with international brokers Tullett Prebon in London. Robert Sinche, senior currency strategist with Bank of America in London, is looking to a rash of new data next week, including the latest retail sales, and producer and consumer price measures, to give the pound a more clear steer. "Next week's release schedule is highly significant and could shape 2007 rate expectations," he noted. In the meantime, though, the resumption of interest in global carry trades puts sterling back on the buying list with its rates already up at 5.50%. Also the currency is expected to continue benefiting as more central banks diversify their foreign exchange holdings out of the dollar into other major currencies, such as the pound. Deutsche Bank's Dinmore also points to the underlying inflow supporting sterling as more foreign companies start buying into corporate U.K. Early Thursday in Europe, the pound was marginally higher at $1.9937 from $1.9932 late Wednesday in New York, according to EBS. This came as a recovery in Japanese stocks and a rally in the Australian dollar to a 15-year high against the yen helped to encourage the resumption of carry trades, pushing the dollar up to Y121.32 from Y121.06. The euro was also up at Y163.84 from Y163.48, but was virtually flat at $1.3504.

[quote=nakul_3153;1460293]i am using the strategey over here in cable to short above 35 & cover at below 20 this prooves to be a good for me coz i

Hi nakul,

I'm a newbie just reading this thread at present, not trading but trying to learn. Can you tell me what you mean by 'cover' please.

Cheers

If BOE unchange interest rate, Gbp will go Up or down? Super.

[Dow Jones] One UK bank trader sees little risk to sterling from the BoE MPC rate decision which hits the wires around 1100 GMT. The trader says the market is positioned for rates to be left on hold at 5.50%, with just a very small minority looking for a 25bp hike. The latter may exit any longs they hold on disappointment in event of rates kept at 5.50%, but he sees any downside in cable likely limited to 20-30 ticks and he would be a buyer on such a dip. Topside, he says if cable can get above corporate offers between 1.9950-60 then 2.00 will be targeted.

Dno who this guy is. But most british and Australian economists are saying a rate hike is inevitable after the minutes.

20-30 ticks downside? well, i would say that will run stops down to 9850. Agreed on a stall any higher than 2.000 and i would say reversal from there.

I have no idea other than that.

The way I see it is if BOE keep interest rates on hold at 5.5% we will see a bearish move as I think the major reason we are at 1.99 currently is some people speculating on a rate hike of 25 base points today.

If we do see a surprise rate hike of 25 base points (they have done it before) then we may see 2 today

would support the impulsive move for the gbp/jpy that needs to continue down as well. I'll thtrow it out there and say its a pause, just to support technicals. ;-)

SHall we short here 19880?

Im waiting just now until after BOE rate announcement in 15 mins (Ive just ckosed shorts)

If you short now and BOE surprise us you will take a hit.

i dont think so lets

i dont think so lets try

Rate unchanged. So go shorting now ... Let go and take profit. G/U shall drop to 19600.

Where to look for target price?