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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

We are all wondering whether cable can push higher or a correction is near. IMO the reaction to predominantly bad US news today was muted, i.e. GBP bounced off 9504 fast and seems to be struggling now.

Maybe the stoch divergence on the weekly chart is the answer, i.e we have reached a top for now? Personnally I am struggling to decide whether to close my long now or let it run.

What are others doing?
Consistency and patience is everything
Quoting Geldmeister
We are all wondering whether cable can push higher or a correction is near. IMO the reaction to predominantly bad US news today was muted, i.e. GBP bounced off 9504 fast and seems to be struggling now.

Maybe the stoch divergence on the weekly chart is the answer, i.e we have reached a top for now? Personnally I am struggling to decide whether to close my long now or let it run.

What are others doing?
close it now, and think about it tomorrow

how many pips today.. ?

did you see the message I sent you yesterday ?
Closed the GBP long @ target (1.9450), but I am holding long Aussie for almost a week now and dediced to hold it untill we get bad/warning weekly candle.

In general trend doesnt seem to be weekening on the weekly chart (EUR, GBP, CHF, AUD...). on the contrary - it is forming now, and we can see in the near future prices above 1.95 on GBP.
Hey Trucco and thx for your note

My long is from 9435 and an entry stop that I had set before the weekend @ 9355 (just above Friday's high) but got filled very late by my broker on that crazy Sunday night.
At this moment it's only 36 pips and I may wait for another possible push towards 9504
Consistency and patience is everything
Quoting Rezo
Closed the GBP long @ target (1.9450), but I am holding long Aussie for almost a week now and dediced to hold it untill we get bad/warning weekly candle.

In general trend doesnt seem to be weekening on the weekly chart (EUR, GBP, CHF, AUD...). on the contrary - it is forming now, and we can see in the near future prices above 1.95 on GBP.
chart is here: chart (post#291 in this thread)

note that after that chart, we broke the channel - another confirmation of strong bullish sentiment.

also, check the ADX on the weekly...
Rezo, AUD trade balance coming up..watch your baby Aussie.
CCI decipherer
well GDPUSD is at 1.9532 now, wonder how high will it go?

anything in the future wil help help the USD or weaken the pound? GPUSD has to be overbought now and since the price is so strong it has to reverse at some point ...
Quoting Tatton
well GDPUSD is at 1.9532 now, wonder how high will it go?

anything in the future wil help help the USD or weaken the pound? GPUSD has to be overbought now and since the price is so strong it has to reverse at some point ...
I just saw the daily chart. Seen the daily RSI now at 78 level. Yes, it is overbought. But as I've seen that on May the higher level of RSI is at 83. So, who knows it still going up?
general census is that the usd must rebound but there is no strength to support it.
3 out of 4 reports bad for the usd this morning ,then a little later Bernanke Speaks and this only weekens the usd more.
This is still a bull gbp market.
Today, according to my teachnical this is the last day for cable to bullish. Cable will go up to 1.9630 then it will fall and USD will start bullish. I will short @ 1.9630 and my 1st takeprofit @ 1.9400 2nd takeprofit @ 1.9300 area.

Happy Trading.
"Invest With The Insiders, Not The Masses" George Muzea
Quoting Qu|cksilver
Today, according to my teachnical this is the last day for cable to bullish. Cable will go up to 1.9630 then it will fall and USD will start bullish. I will short @ 1.9630 and my 1st takeprofit @ 1.9400 2nd takeprofit @ 1.9300 area.

Happy Trading.
what kind of technical are u usen, and since GBP has closed above 9500 that would be a good indicator of still bullish trend correct?
Ghost Swoopen in for my pips while no one is lookin !!
GBP/USD quickly rejected the 1.9550 high made in Dec 2004. If it breaks this level, it would make a 14 year high. GBP/USD hit 2.0100 around September 1992.
<TABLE class=tborder cellSpacing=1 cellPadding=6 width="100%" align=center border=0><TBODY><TR><TD class=thead colSpan=2>Today 08:14</TD></TR><TR title="Post 148461" vAlign=top><TD class=alt1 align=middle width=125>blueshift</TD><TD class=alt2>GBP/USD quickly rejected the 1.9550 high made in Dec 2004. If it breaks this level, it would make a 14 year high. GBP/USD hit 2.0100 around September 1992.</TD></TR></TBODY></TABLE>

I Trust my system. The price will go up only until 1.9630 area and im very confidence it will break 1.9550

Finger Cross and let's see what happen.
"Invest With The Insiders, Not The Masses" George Muzea
Quoting blueshift
GBP/USD quickly rejected the 1.9550 high made in Dec 2004. If it breaks this level, it would make a 14 year high. GBP/USD hit 2.0100 around September 1992.
how can u tell it quickly rejected 9550 and not hung around for awhile? cant tell from a monthly chart could you?
Ghost Swoopen in for my pips while no one is lookin !!
Quoting Qu|cksilver
<table class="tborder" align="center" border="0" cellpadding="6" cellspacing="1" width="100%"><tbody><tr><td class="thead" colspan="2">Today 08:14</td></tr><tr title="Post 148461" valign="top"><td class="alt1" align="center" width="125">blueshift</td><td class="alt2">GBP/USD quickly rejected the 1.9550 high made in Dec 2004. If it breaks this level, it would make a 14 year high. GBP/USD hit 2.0100 around September 1992.</td></tr></tbody></table>

I Trust my system. The price will go up only until 1.9630 area and im very confidence it will break 1.9550

Finger Cross and let's see what happen.
Yes, same here, my tp sits at 1.9560. I need to go home! now
I meant it "quickly rejected" the level today, and not in 2004. Now, it's hovering just below the 1.9550 level. I wouldn't be surprised if this level is broken.
what are the resistances now for this bad boy is it only the 50s and 00s too the moon or what? anybody know?
Ghost Swoopen in for my pips while no one is lookin !!
Quoting Qu|cksilver
<table class="tborder" align="center" border="0" cellpadding="6" cellspacing="1" width="100%"><tbody><tr><td class="thead" colspan="2">Today 08:14</td></tr><tr title="Post 148461" valign="top"><td class="alt1" align="center" width="125">blueshift</td><td class="alt2">GBP/USD quickly rejected the 1.9550 high made in Dec 2004. If it breaks this level, it would make a 14 year high. GBP/USD hit 2.0100 around September 1992.</td></tr></tbody></table>

I Trust my system. The price will go up only until 1.9630 area and im very confidence it will break 1.9550

Finger Cross and let's see what happen.
What system do you use? Is it something like VP Vantage Point
I ask because I am looking at purchasing the VP system
goodthings

Think well before buy Vantagepoint !!! Very expensive... maybe not worth it !!
Have you had any experience with it. Not wanting to get off of thread subject.
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