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Cable Update (GBPUSD)

  • #16,021
  • Jun 27, 2007 7:50am Jun 27, 2007 7:50am
the news were pretty $-negative, so why is cable going down?
Consistency and patience is everything
  • #16,022
  • Jun 27, 2007 7:51am Jun 27, 2007 7:51am
Really poor news for US and price is dropping in cable - market sentiment could mean a drop is due? Thoughts

Other thoughts USD/JPY going down again will pull GBP/JPY down. DOW and S&P futures now down, in a bizarre way could this news mean cable bearish as carry trades may be pulled down?
  • #16,023
  • Jun 27, 2007 7:52am Jun 27, 2007 7:52am
looking to buy soon.
BAM BAM BOOM! -bravado
  • #16,024
  • Jun 27, 2007 8:14am Jun 27, 2007 8:14am
Quoting Geldmeister
the news were pretty $-negative, so why is cable going down?
Because it was priced kind high before the news
  • #16,025
  • Jun 27, 2007 8:24am Jun 27, 2007 8:24am
it has been spiking just before or at news this week then pulls back. since news has been -$ i am surprised we are not above2.000 which makes me wonder if we are going to have a end of qtr drop for profit takers?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #16,026
  • Jun 27, 2007 8:35am Jun 27, 2007 8:35am
Not only us whining about this damn pair

09:33 GBP/USD has lost all of its juice and valor....It used to move 200 points a session and now those moes are reseved for the Jpy based pairs....If you trade GBP/USD , reevalaute and buy dips and sell rallies instead of playing its infamous "breakouts"
  • #16,027
  • Jun 27, 2007 8:37am Jun 27, 2007 8:37am
Quoting el_duende
Really poor news for US and price is dropping in cable - market sentiment could mean a drop is due? Thoughts

Other thoughts USD/JPY going down again will pull GBP/JPY down. DOW and S&P futures now down, in a bizarre way could this news mean cable bearish as carry trades may be pulled down?
since Friday cable has had seven attempts to breach 2.0000 and it's failed, perhaps not miserably, but it has failed. yeah, with the amount of volatility anything can happen, but i still see cable going to .9730-50. still short, and nothing really has changed my mind. if anything, remain even more positive for the dollar. bad US economic numbers out today and pound remains static
  • #16,028
  • Jun 27, 2007 8:39am Jun 27, 2007 8:39am
Quoting cesarnc
Not only us whining about this damn pair

09:33 GBP/USD has lost all of its juice and valor....It used to move 200 points a session and now those moes are reseved for the Jpy based pairs....If you trade GBP/USD , reevalaute and buy dips and sell rallies instead of playing its infamous "breakouts"
WHO KILLED OUR DEAR CABLE???

BOE? WHO????????????
  • #16,029
  • Jun 27, 2007 8:41am Jun 27, 2007 8:41am
Quoting camisa
WHO KILLED OUR DEAR CABLE???

BOE? WHO????????????
  • #16,030
  • Jun 27, 2007 8:42am Jun 27, 2007 8:42am
Quoting camisa
WHO KILLED OUR DEAR CABLE???

BOE? WHO????????????
camisa is the cable range dead for good? what is the range for today?
BAM BAM BOOM! -bravado
  • #16,031
  • Jun 27, 2007 8:49am Jun 27, 2007 8:49am
Quoting camisa
WHO KILLED OUR DEAR CABLE???

BOE? WHO????????????
GBP buyers are gonna squeeze it in the waiting for clues about upcoming hikes. If (when) the economic data shows to be cooling-off - exactly the rate hikes role - GBP will be dumped.

In the other hand

USD buyers/sellers are gonna hold in the waiting for a clearer position from FED about interest rate.

That's gonna take MONTHS to unfold
  • #16,032
  • Jun 27, 2007 8:51am Jun 27, 2007 8:51am
Quoting bravado
camisa is the cable range dead for good? what is the range for today?
I still hope it's just a phase! I'll be in complete denial for the next few months...

Days with +100 pips range are now good old memories cause they are so rare nowadays! Exactly the opposite of what used to be!

But if I would have to guess I would say thta we are going to 2 today... But then again cable could be done for the day and range between 0.0001 to 0.0002 pips until end of day
  • #16,033
  • Jun 27, 2007 8:52am Jun 27, 2007 8:52am
Quoting cesarnc
GBP buyers are gonna squeeze it in the waiting for clues about upcoming hikes. If (when) the economic data shows to be cooling-off - exactly the rate hikes role - GBP will be dumped.

In the other hand

USD buyers/sellers are gonna hold in the waiting for a clearer position from FED about interest rate.

That's gonna take MONTHS to unfold
BTW, that's exactly what the monthy chart is showing. One month reversing the previous' move.

Anyone long at December open would be 300 pips in profit right now, 6 months later
  • #16,034
  • Jun 27, 2007 8:52am Jun 27, 2007 8:52am
Quoting cesarnc
GBP buyers are gonna squeeze it in the waiting for clues about upcoming hikes. If (when) the economic data shows to be cooling-off - exactly the rate hikes role - GBP will be dumped.

In the other hand

USD buyers/sellers are gonna hold in the waiting for a clearer position from FED about interest rate.

That's gonna take MONTHS to unfold
why make it so complicated.
this thing is heading up.
BAM BAM BOOM! -bravado
  • #16,035
  • Jun 27, 2007 8:54am Jun 27, 2007 8:54am
Quoting bravado
why make it so complicated.
this thing is heading up.
however.

i am looking to get it cheaper. if not. no buying here.
instead i will look to sell high where more pips will be made.
BAM BAM BOOM! -bravado
  • #16,036
  • Jun 27, 2007 9:14am Jun 27, 2007 9:14am
Quoting cesarnc
GBP buyers are gonna squeeze it in the waiting for clues about upcoming hikes. If (when) the economic data shows to be cooling-off - exactly the rate hikes role - GBP will be dumped.

In the other hand

USD buyers/sellers are gonna hold in the waiting for a clearer position from FED about interest rate.

That's gonna take MONTHS to unfold
A perfect post and that's exactly what has been going on for the last few months. Take a look at the price action in 2001 and you'll see some similarities. It took the cable about 18 months of quite miserable activity to build a long term bottom. So if we assume that long term top is currently being built we have still a few months to go.
  • #16,037
  • Jun 27, 2007 9:20am Jun 27, 2007 9:20am
...too 'optimistic' (for the pound) a scenario in my opinion - i see .9730 very soon, certainly not months anyway. i could be wrong...
  • #16,038
  • Jun 27, 2007 9:25am Jun 27, 2007 9:25am
Quoting free4440273
...too 'optimistic' (for the pound) a scenario in my opinion - i see .9730 very soon, certainly not months anyway. i could be wrong...
Not optimistic. I'm talking long term here. 97 is still quite high in the long run. I'm talking real massacre when UK data starts showing weakness.

a CPI 2% is UK's target, meaning "forget about rate hike". If BOE has overshot, CPI tends to go much lower, then bringing the ghost of a rate cut into play.

Call it cycle, not a big deal
  • #16,039
  • Jun 27, 2007 9:29am Jun 27, 2007 9:29am
yeah, i agree with you long-term, now that you have clarified what was said. i understand now, i wasn't making a criticism. yes, you are correct, .9730 is still relatively high. anyhow, i am short, nothing has changed my mind - as yet. by the way, quite like the idea of a 'real massacre' to sterling.
  • #16,040
  • Jun 27, 2007 9:43am Jun 27, 2007 9:43am
Oookkaay... 6 crappy 15min candle in a row....

Many of you guys were already pissed-off with cable, specially camisa. Now the random shooters team has got a new member....

I'm going to leave now for a while as to shout, say, 300 cursing words, unload a AK47 at the bus station from my balcony, drop 15 granades down the stairs and press all the buttons in the elevator.

Just to cool-off a lil bit.

Keep your CNN on in the next hours.
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