Cable Update (GBPUSD)

dont stop for doing good things

Waveskierrob What the hell u doing up at this time in the morning ---- get back to bed Im thinking prostate probs, thats why am up that and a fag

Same.....

Sometimes, just sometimes

Just give it a good Shake Going back to bed, have a great night and make plenty money tomorrow pal

prop firms.. all have different brokers like thinkmarkets, acg, purple etc....

waiting for cable to fly a little to short at a better price....

GU

My view on LO set up.
Any constructive comment is welcome, even if you disagree, as it helps us develop and improve our knowledge.
I'm eager any feedback, especially if you have different perspectives, as it make me see in others pespective.

Thanks in advance
PAT

I have noticed recently that GU appears to have less volatility than many other pairs, appears to trade more in the opposite direction or inside of EU. It occasionally has less volatility than DXY. Not sure why. My suspicion is that the market is reacting to either more traders or at least traders trading in the same direction in GU.

try to print mon$y from deja vu atm long for -5p risk

2670 bounce area for long, now im shorting

To illustrate, lines moving in 'opposite' directions, DXY and GU. Lines moving in roughly the same direction EU and GU.
GU is blue.

daily outlook seems trying to hold a bullish support
1.2705 / 10 is first line where if conquered can send price back up to 2750 (or 2730/40)
failure, and we go for 2670 yesterday low (or more)

im scaling out more short position near 2707 now.

will eventually think about later

EU and GU from 2nd week in Dec.

eur gbp cross moving to support
lately you see gbp stronger than eur

gbp Goes faster and stronger on moves up.
eur goes faster and stronger on moves down.

The eur gbp is an important indicator to help in eventually decide if better trade the eu or the Gu

I’m thinking to trade from day opening till London open time.
slow market, smooth moves, probably no new lows new highs (not on cable)
tight range, bigger size.

will think about. Problem is that it’s night here.

You're right Dantpm,
GU has been exhibiting lower volatility than other major pairs recently.
It's interesting to see it trading contrarily to EU and at times even DXY.

From observation it may be several factor for this weakness :

UK inflation: Rising inflation, currently at 10.1%, could put pressure on the Bank of England to raise interest rates, potentially strengthening the GBP. However, high inflation can also indicate economic weakness, potentially weakening the GBP.

UK economic growth: The UK economy is expected to grow by 0.4% in 2024, which is relatively weak compared to other major economies. not a good sign.

Brexit: Never ending subject. The ongoing negotiations between the UK and EU on the Northern Ireland Protocol remain a source of uncertainty, which could weigh on the GBP.

Domestic political uncertainty: Domestic political challenges, including the cost-of-living crisis and strikes by public sector workers.
These could lead to increased political instability, which could hurt the GBP.
Rishi Sunak is facing a political challenge after a senior member of his party, Sir Simon Clarke, called for him to resign on Tuesday, January 23rd, 2024.

Monetary policy decisions: The BOE meets on February 1st to decide on interest rates.
If the bank raises rates more than expected, it could strengthen the GBP. Conversely, if the bank keeps rates on hold or cuts them, it could weaken the GBP.

Economic forecasts: The BOE also releases quarterly inflation reports and economic forecasts.
Can provide important clues about the bank's future policy decisions and could impact the GBP.

Then we got :
FOMC meeting on 1st, Feb is undoubtedly a major event that will impact both USD and GBP, several other US economic issues in the coming weeks could also influence the GBP/USD pair's movement.


Source of info :

1. Bank of England website: https://www.bankofengland.co.uk/
2. Office for National Statistics website: https://www.ons.gov.uk/
3. Reuters: https://www.reuters.com/
4. Bloomberg: https://www.bloomberg.com/

BTW, these are just some potential US/UK economic issues and events that could affect the GBP/USD pair.
It's crucial to consider the combined impact of all these factors alongside the FOMC decision and UK-specific developments to make informed trading decisions


Best Wishes

pat CHIKO

Cashed whole
now flat
todays calendar makes me feel nervous.
don’t want to see price hitting me out @be

London morning I will be out busy.
ny could be volatility

will probably stay flat till tomorrow
anyway, 2 great days