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Cable Update (GBPUSD)

  • #14,641
  • Jun 8, 2007 12:01pm Jun 8, 2007 12:01pm
Quoting gobigo12
TARDE is French for "no trading Fridays" lol
and now i can speak french.
BAM BAM BOOM! -bravado
  • #14,642
  • Jun 8, 2007 12:26pm Jun 8, 2007 12:26pm
TARDE is an Italian and spanish word as well
  • #14,643
  • Jun 8, 2007 1:13pm Jun 8, 2007 1:13pm
TARDE MEans Late in Spanish lol....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #14,644
  • Jun 8, 2007 1:16pm Jun 8, 2007 1:16pm
[quote=cesarnc;1462077]I just noticed that next week we are having a LOAD of inflation-related announcements for GBP and USD....


Cesarnc:

Could you give the link to the source of this info?
My understanding is that Forex Factory does not
post next week's announcements until Sunday.

Kind thanks for your helpful input.
  • #14,645
  • Jun 8, 2007 1:26pm Jun 8, 2007 1:26pm
[quote=winterwhite;1462139]
Quoting cesarnc
I just noticed that next week we are having a LOAD of inflation-related announcements for GBP and USD....


Cesarnc:

Could you give the link to the source of this info?
My understanding is that Forex Factory does not
post next week's announcements until Sunday.

Kind thanks for your helpful input.
Forex factory calendar - http://www.forexfactory.com/calendar.php

Check calendar at top left of the page
  • #14,646
  • Edited 3:10pm Jun 8, 2007 1:55pm | Edited 3:10pm
Hey guys...newbie here..just wanna tell you guys that this forum ROCKS !!!!!
For he that would be deceived, let him.
  • #14,647
  • Jun 8, 2007 2:24pm Jun 8, 2007 2:24pm
Been reading the forum since April, and I want to say thank you for everyone who provides knowledge and wisdom to this forum, it has shorten my learning curve.

Also wanted to thank Cesarnc for providing his knowledge and especially his humor, it keeps this forum lively.

The one thing I have learned is that regardless of who predicts which way the GBP is going, I am the one who makes the ultimate decision to pull the trigger on that trade and can never blame anyone but myself.

Thanks again and keep on sharing.
  • #14,648
  • Jun 8, 2007 5:13pm Jun 8, 2007 5:13pm
So what you guys are saying is that trading on friday is tarde in both english and spanish.
(sorry I couldn`t resist)
I think if you draw fibs on the weekly you will find that GBP is bouncing off the 50 right now.
One has to be carfull though because this is not just a retracement/reaction.
There are fundamentals that encourage a further drop.
(Just what everyone needed right, another, it might go up or it might go down comment).
  • #14,649
  • Jun 8, 2007 5:56pm Jun 8, 2007 5:56pm
Does anyone know why GBPUSD suddenly went up today after such a heavy fallout today [Friday]?
  • #14,650
  • Jun 8, 2007 6:27pm Jun 8, 2007 6:27pm
[quote=cesarnc;1462148]
Quoting winterwhite

Forex factory calendar - http://www.forexfactory.com/calendar.php

Check calendar at top left of the page

cesarnc:

Thank you for this and all that you do.
  • #14,651
  • Jun 8, 2007 6:57pm Jun 8, 2007 6:57pm
Quoting et_phonehome_2
Does anyone know why GBPUSD suddenly went up today after such a heavy fallout today [Friday]?
buying & selling, correction...could be all of them.
some might say before this 2 day drop it was still on an uptrend.
just means that it's going to go back up and higher without a problem
“Past performance is not indicative of future results”
  • #14,652
  • Jun 8, 2007 7:27pm Jun 8, 2007 7:27pm
hm. not quite sure about up AND higher.

Quoting gobigo12
buying & selling, correction...could be all of them.
some might say before this 2 day drop it was still on an uptrend.
just means that it's going to go back up and higher without a problem
Nihil Sine Deo.
  • #14,653
  • Jun 8, 2007 9:07pm Jun 8, 2007 9:07pm
So Cesarnc and Got pip, please show us your enter point of long and short positions...
Give me patience
  • #14,654
  • Jun 8, 2007 10:27pm Jun 8, 2007 10:27pm
I think the CPI will be the key to a direction for the GBP.
  • #14,655
  • Jun 9, 2007 5:38am Jun 9, 2007 5:38am
for the records, TARDE also means late in portuguese but it also means afternoon lol
  • #14,656
  • Jun 9, 2007 8:37am Jun 9, 2007 8:37am
Quoting Bullfx
So Cesarnc and Got pip, please show us your enter point of long and short positions...
Break of 9600, may be on Monday's PPI or Tuesday CPI. CPI is expected 2.6% - below last 2.8% and the toppish 3.1%, so a downtrend being established. Anything far below 2.6% and we are going down fast (to note that UK's target for CPI is 2%, which would postpone a next hike.

I'm not planning going long Cable until US CPI, which will be determinant for USD sentiment for a good while, after this last dollar rush....

Now, if them all comes GBP bullish AND USD bearish, I'll build long positions.
  • #14,657
  • Jun 9, 2007 10:21am Jun 9, 2007 10:21am
it's already back to 1.9700 (last bar high was 1.9705), so i think we'll see 1.9740 before monday news. if news are gbp weak this is a nice place for a short. or, as g-u was acting lately, a nice place for nothing.

Quoting cesarnc
Break of 9600, may be on Monday's PPI or Tuesday CPI. CPI is expected 2.6% - below last 2.8% and the toppish 3.1%, so a downtrend being established. Anything far below 2.6% and we are going down fast (to note that UK's target for CPI is 2%, which would postpone a next hike.

I'm not planning going long Cable until US CPI, which will be determinant for USD sentiment for a good while, after this last dollar rush....

Now, if them all comes GBP bullish AND USD bearish, I'll build long positions.
Nihil Sine Deo.
  • #14,658
  • Jun 9, 2007 11:43am Jun 9, 2007 11:43am
Quoting Scrat
it's already back to 1.9700 (last bar high was 1.9705), so i think we'll see 1.9740 before monday news. if news are gbp weak this is a nice place for a short. or, as g-u was acting lately, a nice place for nothing.
I agree... What I meant is that I'm considering jump in GU shorts only on breach of 9600, pushed by strong data.

Check the chart below. The false breakout up was pushed by BOE minutes' 9-0 and the failure was pushed by no-hike + shift in US interrate sentiment. So, next week's data are expected to be GBP bearish AND USD bullish...

As the 9600 area is bottom of the channel, I'd like to see it breached on data first, otherwise, it would be a nice place to go long, right?

And last but not least, 9600 and below are not seen since March. This is an important level, actual bottomish that once breached is expected to become strong resistance. So a short position from 9600 will provide a nice R:R ratio....
Attached Image
  • #14,659
  • Jun 9, 2007 11:48am Jun 9, 2007 11:48am
Weekly and Monthly charts' MACD and RSI are also showing early signs of exhaustion... This month's close will be important, too... It's been several months with tiny open/close range in the monthly... This is also sign of trend's exhaustion.
  • #14,660
  • Jun 9, 2007 1:20pm Jun 9, 2007 1:20pm
cesarnc: how do you project pivots on to your metacharts?!
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