Cable Update (GBPUSD) | Page 837 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #16,721
  • Jul 2, 2007 10:10am Jul 2, 2007 10:10am
Quoting cesarnc
Dollar down in flames. That's the fundamental reason.

Plus usual GBP push up ahead of rate statement.
As a summary,
BOE raises rate = GBP down because already factored in
or
BOE leaves rate unchanged = GBP down because of big surprise
esp. after this kind of runup

What do you think, cesarnc, am I right?
  • #16,722
  • Jul 2, 2007 10:16am Jul 2, 2007 10:16am
Last time we reached these heights in cable market was buying into the rumour of a double rate hike in April to 5.75%

This time round we are at the same level just before a potential rate hike to 5.75%.

The only difference is that this time FED has a bias towards increasing USA rates. bullish for $

As Cesarnc says before a rate hike there is normally buying in the lead up, hovever there could well be a big sell off on Thursday when rate is announced at 5.5% or 5.75%. I believe we could be near the top of a range here and like goonergonebad a drop may be imminent.

As usual timing is everything (ive shorted at 2.0133, last high)! cable still looks bullish though as it keeps making new highs.
  • #16,723
  • Edited 10:21am Jul 2, 2007 10:17am | Edited 10:21am
Quoting el_duende


Last week I thought exactly the same however I believe they will raise rates now with the terrorist attacks. Purely on a political level the best time to give the public bad news is when there is already a worse event occuring. Over the coming days media will be focused on bombs and terrorism as will the public, so its a great time for another rate rise whilst the public have their minds else where.
I see your rationale, but beg to differ. I feel the problem we have in the UK is that after the initial sensationalism generated by the tawdry gutter press (the sun etc.) we as a nation are quick to forget international issues in favour of national issues such as tax - "Oh sh*t - how am I going to pay blah... blah... blah..." - eventaully culminating in - "a pox on you socialist swine" or something like that. Brown knows only too well that he is unelectable. Hence his foray into suspect bi/tri party allegiances.

We shall see....
  • #16,724
  • Jul 2, 2007 10:24am Jul 2, 2007 10:24am
Quoting okfx
As a summary,
BOE raises rate = GBP down because already factored in
or
BOE leaves rate unchanged = GBP down because of big surprise
esp. after this kind of runup

What do you think, cesarnc, am I right?
I expect no-change. This will fit BOE's "wait-and-see" strategy and CPIs are 3.1%, 2.8% and 2.5%. Maybe another strong CPI inspires BOE to raise.

BOE is extremely cautious as not to overkill with these hikes, you know?

In case of no-chage, correction from this last run is indeed expected.

FED is not taken as "biased for a hike", after the last statement. That's why dollar is getting hit like a toothless dog since Friday.
  • #16,725
  • Jul 2, 2007 10:24am Jul 2, 2007 10:24am
Quoting goonergonebad
I see your rationale, but beg to differ. I feel the problem we have in the UK is that after the initial sensationalism generated by the tawdry gutter press (the sun etc.) we as a nation are quick to forget international issues in favour of national issues such as tax - "Oh sh*t - how am I going to pay blah... blah... blah..." - eventaully culminating in - "a pox on you socialist swine" or something like that. Brown knows only too well that he is unelectable. Hence his foray into suspect bi/tri party allegiances.

We shall see....
This is a New labour government just with a new face. I would be surprised if they didnt use the opportunity to release bad news at such an opportune time time. They have done it many times in the past, at times like this it just lessens the impact as how much bad news can a nation take.
  • #16,726
  • Jul 2, 2007 10:26am Jul 2, 2007 10:26am
Quoting el_duende
This is a New labour government just with a new face. I would be surprised if they didnt use the opportunity to release bad news at such an opportune time time. They have done it many times in the past, at times like this it just lessens the impact as how much bad news can a nation take.
Rate hike is BoE's call - nothing to do with he government.
I've got my pips - go get yours!
  • #16,727
  • Jul 2, 2007 10:27am Jul 2, 2007 10:27am
Long Cable long!
TRADE LIKE A MACHINE!
  • #16,728
  • Jul 2, 2007 10:28am Jul 2, 2007 10:28am
Quoting goonergonebad
Eventually.... For my part before it hits 2.0155.

BTW - who are you?
Humble Pie - potentially on menu..........
  • #16,729
  • Jul 2, 2007 10:29am Jul 2, 2007 10:29am
Quoting cesarnc
I expect no-change. This will fit BOE's "wait-and-see" strategy and CPIs are 3.1%, 2.8% and 2.5%. Maybe another strong CPI inspires BOE to raise.

BOE is extremely cautious as not to overkill with these hikes, you know?

In case of no-chage, correction from this last run is indeed expected.

FED is not taken as "biased for a hike", after the last statement. That's why dollar is getting hit like a toothless dog since Friday.

You do not expect hike ??? If you will have true pound will collapse, not because no change, but King will loose respect.
  • #16,730
  • Jul 2, 2007 10:29am Jul 2, 2007 10:29am
Just TP'd 2/3 at 0150....

You guys have no idea what is costing me keeping my mouth shut about the the Bearish Cable Church....

I feel my throat is gonna explode.
  • #16,731
  • Jul 2, 2007 10:30am Jul 2, 2007 10:30am
Yes LONG LONG LONG
  • #16,732
  • Jul 2, 2007 10:31am Jul 2, 2007 10:31am
Quoting goonergonebad
Humble Pie - potentially on menu..........

Roll on floor crying - This is a beast out of control and SHORT is the order of the day. Question is - WHERE?
  • #16,733
  • Jul 2, 2007 10:31am Jul 2, 2007 10:31am
Quoting goonergonebad
For me, this $ bashing is out of leftfield. No current fundamentals reason and definitely no technical reason.
I'd say something, but then I'd just end up discussing it over 50 posts ;p
Trust price. Know yourself.
  • #16,734
  • Jul 2, 2007 10:32am Jul 2, 2007 10:32am
almost 100 Pips Let's Break The Curse!!
  • #16,735
  • Jul 2, 2007 10:32am Jul 2, 2007 10:32am
Quoting cesarnc
Just TP'd 2/3 at 0150....

You guys have no idea what is costing me keeping my mouth shut about the the Bearish Cable Church....

I feel my throat is gonna explode.
OK - Give it your condolences - You know you want to....
  • #16,736
  • Jul 2, 2007 10:33am Jul 2, 2007 10:33am
Quoting goonergonebad
Roll on floor crying - This is a beast out of control and SHORT is the order of the day. Question is - WHERE?
C'mon gooner. 100 pips range and climbing, break of year's high. How can SHORT be in order of the day?
  • #16,737
  • Jul 2, 2007 10:34am Jul 2, 2007 10:34am
Quoting BackTestDummy
Rate hike is BoE's call - nothing to do with he government.
Sure it is! Mr Brown hand picked 4 of the voting members on BOE committee. He has no input what so ever in monetry decisions because he and labour are renowned for their honesty!
  • #16,738
  • Jul 2, 2007 10:36am Jul 2, 2007 10:36am
logically I think short like Gooner but price action says otherwise.

Its all a conspircay I tell ya!
  • #16,739
  • Jul 2, 2007 10:37am Jul 2, 2007 10:37am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Date: 2007/07/02Time: 17:01 (GMT +2)Ticker: GBPLast: 2.0147Pivot: 2.00751st sup.2.00752nd sup.2.0033rd sup.2.00051st res.2.0152nd res.2.01763rd res.2.02Title: GBP/USD intraday: another leg up is expectedSummary: Update on supports and resistances.Story: Pivot: 2.0075

Our preference: Long positions above 2.0075 with targets @ 2.015 & 2.0176 in extension.

Alternative scenario: Below 2.0075 look for further downside with 2.003 & 2.0005 as targets.

Comment: the pair stands in a bullish channel.
http://www.tradingcentral.com/chart/...0702170029.GIF

is this of any help, I could do with some help, same problem every time, I either cash in to earlier or to late, which ever happens I never make as many pips as I could, would anyone care to suggest a good turning point on cable
  • #16,740
  • Jul 2, 2007 10:37am Jul 2, 2007 10:37am
Quoting SeekingLight
I'd say something, but then I'd just end up discussing it over 50 posts ;p
Why not?

If you are a successful trader then for the sake of novice contributors to the forum like myself, please explain why cable is so strong at the moment and why you find it amusing that we should be suffering... If you are that brilliant why not advise rather that ply sarcasm and unwanted price action affiliations.
2,088 traders viewing now, 2 are registered:
Price369
,