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Cable Update (GBPUSD)

  • #17,901
  • Jul 9, 2007 8:52am Jul 9, 2007 8:52am
we are still goin up........

I can smell ....a run up 150pips easily

Time for the shorters to cut loss
  • #17,902
  • Jul 9, 2007 8:55am Jul 9, 2007 8:55am
2.0160 in focus
  • #17,903
  • Edited 9:30am Jul 9, 2007 9:11am | Edited 9:30am
My strategy for the cable is the same a yours. Its more about USD slumping rather than GBP rise. I'm still long myself aiming for 2.0200

Quoting ganymedes
Remember that at the moment cable price action is mostly about USD and not so much about the GBP part. Selling cable is almost like just buying dollars. And the USD is in big trouble this days. I'm still long cable.
  • #17,904
  • Jul 9, 2007 10:18am Jul 9, 2007 10:18am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Eventhought I said dollar is weak something smels funny in a cable long move.....
  • #17,905
  • Jul 9, 2007 10:41am Jul 9, 2007 10:41am
In the news today homebuilding companies in UK are being hit hard by the interest rate announcement. Wimpy, redrow have revised amount of new homes to be built down. Check out the performance today of these companies and they have had 4-10% wiped off their stock value.

Other concerns are people who took out mortgages 2 years ago. Alot had the 2 year term fixed rate which then turns into the variable rate. With interest rate rises people will feel the crunch due to increased monthly payements of oversized mortgages to pay for inflated house prices. This also now means less money to spend on nice new car, TV etc.

With housing in UK starting to wobble this may be reflected in cable.
  • #17,906
  • Jul 9, 2007 10:51am Jul 9, 2007 10:51am
Still goin up mate...........b4 they know it......we will be above 2.0200s...

Btw GOLD is still up........above 660 now.
  • #17,907
  • Jul 9, 2007 10:52am Jul 9, 2007 10:52am
Cable again near 26-years high !
  • #17,908
  • Jul 9, 2007 10:57am Jul 9, 2007 10:57am
Quoting manu.aquetdju
Cable again near 26-years high !
They will change the word 'near' to 'at' soon
  • #17,909
  • Jul 9, 2007 11:00am Jul 9, 2007 11:00am
Quoting henrycarol
They will change the word 'near' to 'at' soon
You've got it right, friend
  • #17,910
  • Jul 9, 2007 11:01am Jul 9, 2007 11:01am
Quoting henrycarol
They will change the word 'near' to 'at' soon
Long Cable Long ^^
  • #17,911
  • Jul 9, 2007 11:01am Jul 9, 2007 11:01am
This is the same scenerio here in US. Where mortgages from 2 years ago is now due for a variable rate. Here in US, the housing market basically officially have crashed!

Quoting el_duende
In the news today homebuilding companies in UK are being hit hard by the interest rate announcement. Wimpy, redrow have revised amount of new homes to be built down. Check out the performance today of these companies and they have had 4-10% wiped off their stock value.

Other concerns are people who took out mortgages 2 years ago. Alot had the 2 year term fixed rate which then turns into the variable rate. With interest rate rises people will feel the crunch due to increased monthly payements of oversized mortgages to pay for inflated house prices. This also now means less money to spend on nice new car, TV etc.

With housing in UK starting to wobble this may be reflected in cable.
  • #17,912
  • Jul 9, 2007 11:04am Jul 9, 2007 11:04am
UK Recession in the making, pretty sure it cannot hold up like USA economy
"Millionaires don't use astrology, billionaires do"
  • #17,913
  • Jul 9, 2007 11:10am Jul 9, 2007 11:10am
Quoting newjersey24
This is the same scenerio here in US. Where mortgages from 2 years ago is now due for a variable rate. Here in US, the housing market basically officially have crashed!
I dont think the housing problem will be as bad as the US but in the coming months this may cause a drag on UK economy. The only good thing in UK is that there is large demand for the need of new homes that is not being met. Further interest rate rises this year will put a further strain on people mortgaged to the hilt and at the highest levels off personal debt (loans). A possible scenario is that rather than cable going higher with these interest rate increases we may see a drop due to people having less money to spend in the shops thus effecting retail and economy growth. Interesting times ahead.
  • #17,914
  • Jul 9, 2007 11:18am Jul 9, 2007 11:18am
Quoting el_duende
I dont think the housing problem will be as bad as the US but in the coming months this may cause a drag on UK economy. The only good thing in UK is that there is large demand for the need of new homes that is not being met. Further interest rate rises this year will put a further strain on people mortgaged to the hilt and at the highest levels off personal debt (loans). A possible scenario is that rather than cable going higher with these interest rate increases we may see a drop due to people having less money to spend in the shops thus effecting retail and economy growth. Interesting times ahead.
Good analysis. Likely scenario in a while, I think. But not just yet...
  • #17,915
  • Jul 9, 2007 11:58am Jul 9, 2007 11:58am
I read on BBC that many Economists and leading Corporate types are calling for the next BoE move to be a cut.
Patience + Humility + Study = Success
  • #17,916
  • Jul 9, 2007 12:00pm Jul 9, 2007 12:00pm
Quoting manu.aquetdju
Cable again near 26-years high !
It has to break 2.0175 first
  • #17,917
  • Jul 9, 2007 12:28pm Jul 9, 2007 12:28pm
short cable short
  • #17,918
  • Jul 9, 2007 12:35pm Jul 9, 2007 12:35pm
next rally up will hit .0175
  • #17,919
  • Jul 9, 2007 12:38pm Jul 9, 2007 12:38pm
Might be going down for a bit..I see extreme overbought levels on the RSI
  • #17,920
  • Jul 9, 2007 12:49pm Jul 9, 2007 12:49pm
Quoting syerram2
Might be going down for a bit..I see extreme overbought levels on the RSI
in what tf do you see this ?
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