we are still goin up........
I can smell ....a run up 150pips easily
Time for the shorters to cut loss
I can smell ....a run up 150pips easily
Time for the shorters to cut loss
Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
Why is GBPUSD called cable? 66 replies
cable short for gbpusd? 6 replies
DislikedRemember 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.Ignored
DislikedIn 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.Ignored
DislikedThis 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!Ignored
DislikedI 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.Ignored
DislikedMight be going down for a bit..I see extreme overbought levels on the RSIIgnored