Cable Update (GBPUSD)

Watch the carry trades......

Shorted g/u at the highs.

Hopefully can see 1.9500s this week.

30-20 is not looking likely, will re-evaluate later out for now, not expecting much with the 30 and 1h still coming down and trendlines closing in on each other.

I am think to long GU now even if I have some bearish views. It is strong today. And I think Us treasury up too fast and a pull back would be comnig that should bring some strength to it.

I wouldn't long the GBP so soon...read this...

Global bond yields have increased again on Tuesday while Wall Street has lost ground.

Over the past 24 hours, the Euro has regained against the Swiss franc to highs around 1.6550 and Sterling has also held strong at close to 1.9750 against the dollar

Given the rise in bond yields and more cautious attitude towards risk, both these trends will be vulnerable to a reversal over the next 24 hours with GBP/USD heading back below 1.97.
__________________
Analysis by FX Today

Aye at this point to long I would wait for a significant breach of 780 (4h tl). I was hoping for another 20-30 pips from this last bounce. But it took a rolling decline, a short I would look for a good breach past 720 (30min tl). To many converging trendlines right now to get much.

Ive been short GBP/USD since 1.9775 and now GBP/USD is at 1.9744...should I hold my short position or should I exit the position before Asia opens up?

Ive been reading mixed reports on the GBP for tonight...some reports say it will decrease ...some say it will strengthen due to growth...any suggestions?

what do you think. let me know and i'll tell you what i think.

You got a nice little boost from the jpy report, it's hitting the up trend line now (normally where I look to buy) and showing some pa. Heavy resistance up above around 770-80. Depends how long you plan on trading it for, long term up trend line is in the 650 area. Got some news coming tonight, so it could go either way. I personally trade short term so I might not be the best judge. But if you held it, just lock in some profit setting your stop above the last peak or there about (750 range). Or take you profit and re-asses it later.

Basically it's up to you, but I would lock in some profit or at least move your stop to break even if it's not already.

gbpusd bounced off of 61.8 fib

GbpUsd has retraced to with in 9 pips of the weekly 50 fib and bounced off of it.

You refer to weekly chart but show 4h ?

Hi bro, US news today expect to be good. So GU shall be down ?

[GBP/USD] grinding higher from an earlier low of 1.9728 to an intraday high of 1.9764 as market players expect the employment numbers to come in on the strong side. They reckon that the strength in the employment component of both the service and manufacturing ISM reports suggests that there could be a continual drop in jobless claims. A strong data will only reinforced BOE Gov King's hawkish stance as wage price inflation is one of the key sectors the BOE monitors in its deliberation on interest rates. Most see a 5.75% rate as a given with 6% a possibility if the economy powers ahead.


Just have to wait and see, if they are both strong who knows, but if gbp is the stronger I would give them the edge, not much hope of the US raising interest rates.

Thats not what the US bond and fed funds rates futures market is saying.

Seeing #1000 as s/t res..break this, it will go high..(",) have a good one

Everything I here on cnbc and similar sites say they are likely to hold at least until the end of the year. But then it's not like I or they know everything.

Double Low on the 4hr providing it holds. My candle ends in about 35 minutes.

Looks like our 1000 page is gonna happen on todays NY session or tomorrows London session since its always quiet here on Asian session. Anyone throwing a party??

Next milestone after that I think will be even bigger.

Approximately 100,000 more reads will reach 1 million mark.

It should reach 1K during Asian Session tomorrow morning.