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Cable Update (GBPUSD)

  • #814,341
  • Mar 6, 2024 6:43am Mar 6, 2024 6:43am
Quoting dantpm
{quote} Yeah I read that, now back to context.

Guess it ties into whether the US economy is expanding or contracting and if it'll affect the feds decision on rate increases/decreases.
It might not sound like that much in the overall scheme of things but it must be taken somewhat seriously seeing as high impact news.
Never really given it any thought, all I care about is if I can make some money of the high impact news movements
Don't Leave Money on the Table
  • #814,342
  • Mar 6, 2024 6:45am Mar 6, 2024 6:45am
Quoting azhantahir
{quote} GBPUSD. Personal opinion. Price failed to break above the previous intraday high. I'm off. take it for granted. Done for today {image} {image}
OHLC is a basic concept for candles, but overall traders left it behind. Also, it hints to us about repetitions of prices. what happens if the price fails to break the previous high? If break what happens? Should have confirmation?

GBUSD vs EURUSD vs GOLD
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Look right, we'll see the signs
  • #814,343
  • Mar 6, 2024 6:45am Mar 6, 2024 6:45am
UK'S HUNT WE CAN NOW HELP FAMILIES WITH PERMANENT CUTS IN TAX

Jeremy Hunt says that inflation is forecast to fall below 2% target 'in just a few months' time - nearly a whole year earlier than forecast at the time of the Autumn Statement'

If he sees inflation to drop below 2% in just a few months, then GBP should take a dive, because it means BOE will start cutting rates soon.
  • #814,344
  • Mar 6, 2024 6:50am Mar 6, 2024 6:50am
Quoting HaLBot
{quote} Guess it ties into whether the US economy is expanding or contracting and if it'll affect the feds decision on rate increases/decreases. It might not sound like that much in the overall scheme of things but it must be taken somewhat seriously seeing as high impact news. Never really given it any thought, all I care about is if I can make some money of the high impact news movements
The Fed uses employment levels to justify that their decisions are not hurting the economy, which tends to support my comment that the stat, is essentially a rounding error for its significance. As you point out we are here to make money and the market reacts to the datapoint in some manner. I will try and trade the reaction.
  • #814,345
  • Mar 6, 2024 6:55am Mar 6, 2024 6:55am
Quoting Whatevs
UK'S HUNT WE CAN NOW HELP FAMILIES WITH PERMANENT CUTS IN TAX Jeremy Hunt says that inflation is forecast to fall below 2% target 'in just a few months' time - nearly a whole year earlier than forecast at the time of the Autumn Statement' If he sees inflation to drop below 2% in just a few months, then GBP should take a dive, because it means BOE will start cutting rates soon.
OBR forecast comes with lot of Revision
More time in the market, does not mean you trade better!
  • #814,346
  • Mar 6, 2024 6:58am Mar 6, 2024 6:58am
Quoting Fardeen1209
{quote} OBR forecast comes with lot of Revision
Well at least until the UK starts spending more to support the US in Ukraine...
  • #814,347
  • Mar 6, 2024 7:04am Mar 6, 2024 7:04am
GU H1
trendlines

we waiting for news ...
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Trendlines H1,H4, SMC
  • #814,348
  • Mar 6, 2024 7:04am Mar 6, 2024 7:04am
I'm seeing at spike upwards in GU from M15.
Exhausted
  • #814,349
  • Mar 6, 2024 7:07am Mar 6, 2024 7:07am
No real impact from Mike Hunts budget all. Take from one hand give to the other.
Insane in the Brain..
  • #814,350
  • Mar 6, 2024 7:10am Mar 6, 2024 7:10am
Quoting Whatevs
UK'S HUNT WE CAN NOW HELP FAMILIES WITH PERMANENT CUTS IN TAX Jeremy Hunt says that inflation is forecast to fall below 2% target 'in just a few months' time - nearly a whole year earlier than forecast at the time of the Autumn Statement' If he sees inflation to drop below 2% in just a few months, then GBP should take a dive, because it means BOE will start cutting rates soon.
this is an election tactic. But nothing from the markets in either up or down. Tax cuts not a good thing and not increasing fuel duty is if anything crossing the palms of fossil fuel companies with silver
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Insane in the Brain..
  • #814,351
  • Mar 6, 2024 7:12am Mar 6, 2024 7:12am
Quoting WizardTrade
{quote} A true anomaly worthy of observation in the annals of financial history!
Lol why do I still don't believe that the dollar is going up anytime now, I am bullish done all my analysis I might be wrong tho but let's find out
  • #814,352
  • Mar 6, 2024 7:15am Mar 6, 2024 7:15am
Sl at be
show me the money mf
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yes yes yes
  • #814,353
  • Mar 6, 2024 7:17am Mar 6, 2024 7:17am
Lmao, what. No reaction. Continue as usual.
Exhausted
  • #814,354
  • Mar 6, 2024 7:18am Mar 6, 2024 7:18am
Quoting Elysion
Lmao, what. No reaction. Continue as usual.

Yes not really much change but maybe waiting for Powell in an hour and a half
Don't Leave Money on the Table
  • #814,355
  • Mar 6, 2024 7:19am Mar 6, 2024 7:19am
It's shown RED news in FF calendar, but in the NEWS section it is ORANGE
hmmm
Exhausted
  • #814,356
  • Mar 6, 2024 7:21am Mar 6, 2024 7:21am
Quoting HaLBot
{quote} Yes not really much change but maybe waiting for Powell in an hour and a half
Can't wait.
Powell starts speaking, boom engulfing bar.
Powell talks for the next 10 mins, boom another engulfing bar in the opposite direction.
Exhausted
  • #814,357
  • Mar 6, 2024 7:25am Mar 6, 2024 7:25am
CAD news 15 mins before Powell speaks.
Hmm, this is bad.
Might whipsaw hard.
Both side LQ hunts.
Exhausted
  • #814,358
  • Mar 6, 2024 7:27am Mar 6, 2024 7:27am
Quoting Elysion
CAD news 15 mins before Powell speaks. Hmm, this is bad. Might whipsaw hard. Both side LQ hunts.
CAD news doesn’t usually move the market though

Powell doesn’t usually move the market either
Insane in the Brain..
  • #814,359
  • Mar 6, 2024 7:27am Mar 6, 2024 7:27am
Quoting Bones
{quote} He did contact me for advice on what to do about people overusing the immediate ban button, After B comes C
I haven't seen it overused in this thread. To the contrary, it is highly underused.
To free Gazans of Hamas, use whatever it takes.
  • #814,360
  • Mar 6, 2024 7:30am Mar 6, 2024 7:30am
Quoting BeeTogether
{quote} CAD news doesn’t usually move the market though Powell doesn’t usually move the market either
CAD news actually does affect the market, but usually not a 20pips move for other pairs. It does drag other currencies at a certain level.

As for Powell, depending on what he have to say. If it's important regarding economy or rate decision/cuts then it'll bring massive impact.
Exhausted
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