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Cable Update (GBPUSD)

  • #17,921
  • Jul 9, 2007 1:03pm Jul 9, 2007 1:03pm
Quoting syerram2
Might be going down for a bit..I see extreme overbought levels on the RSI
I see similiar on the CCI on a weekly chart. Not only that, but there is divergence between price and the indicator - price has been hitting higher highs, but the CCI has been making lower highs. Generally, as I'm sure most already know, that shows weakness in the move and a potential reversal. I'll be watching for that.

Just my .02 pips as a newb.
  • #17,922
  • Jul 9, 2007 1:04pm Jul 9, 2007 1:04pm
Quoting DutchTrader
I read on BBC that many Economists and leading Corporate types are calling for the next BoE move to be a cut.
Can't remember corporate types ever asking for a rate hike - can anybody ?

economists are bio degradable but otherwise useless because they don't look behind the statistics which are averages....

they say that if you have one foot in the fire and one foot in the fridge - then on average you are comfortable..

that's why the US trade deficit doesn't matter - as long as the Chinese etc keep their money there forever then it's as if it doesn't exist and that doesn't fit the economists traditional models so they are scratching their heads...

the fundamentals matter but nobody knows what they are any more..

holy conundrums !

I reckon the US govt wants a lower dollar just like the weimar republic - same trick and it worked the first time..
  • #17,923
  • Jul 9, 2007 1:04pm Jul 9, 2007 1:04pm
Quoting pipsimax
in what tf do you see this ?
agree !!!!
price action tell me G\U is going lower
  • #17,924
  • Jul 9, 2007 1:06pm Jul 9, 2007 1:06pm
Quoting thegunslinger
I see similiar on the CCI on a weekly chart. Not only that, but there is divergence between price and the indicator - price has been hitting higher highs, but the CCI has been making lower highs. Generally, as I'm sure most already know, that shows weakness in the move and a potential reversal. I'll be watching for that.

Just my .02 pips as a newb.
Agreed !!!
i see the same
  • #17,925
  • Jul 9, 2007 1:33pm Jul 9, 2007 1:33pm
Hello ppl...

Refreshing weekend + holiday this Monday here. Hope you had a nice weekend, too.

Cutting throught the crap, last NFP + Euro above 3600 I'm dollar bearish, UJ exception.

  • #17,926
  • Jul 9, 2007 1:36pm Jul 9, 2007 1:36pm
Quoting cesarnc
Hello ppl...

Refreshing weekend + holiday this Monday here. Hope you had a nice weekend, too.

Cutting throught the crap, last NFP + Euro above 3600 I'm dollar bearish, UJ exception.

Finally, .... forum was boring without you.
  • #17,927
  • Jul 9, 2007 1:39pm Jul 9, 2007 1:39pm
Quoting manu.aquetdju
Finally, .... forum was boring without you.
I'm bored, too. That's not bad actually. Exciting two-ways days are those I lost the most. Boring days, pairs crawling in my direction are those I win the most.

Go figure....
  • #17,928
  • Jul 9, 2007 2:22pm Jul 9, 2007 2:22pm
"Might be going down for a bit..I see extreme overbought levels on the RSI."

Syerram, I agree. I had a cluster resistance at 2.0189. If that was hit, I was going short. I missed out on the short, so I'll wait for the long opportunity. I'm waiting to see what the reaction will be at 2.0127, then 2.0100. If both those levels are broken, I thnik we could be headed to the lower 2.0000's.
  • #17,929
  • Jul 9, 2007 4:26pm Jul 9, 2007 4:26pm
I find it hard to believe that there is not a BUNCH of hungry dogs, ready to buy the hell of this pair at 0130 area.

I'm barking at that level, too...
  • #17,930
  • Jul 9, 2007 5:46pm Jul 9, 2007 5:46pm
Relax and enjoy the ride folks...don't try to figure out..it only creates more and more noise in your thoughts

Cable is going up for no reason...so the same no reasons will bring it down

The bankers are already playing with your money...don't let than playwith your brain.

And the beauty in all of this is that UP or DOWN we make money !!!!!!!!!!

Blessings !!!!!!!!!!!
For he that would be deceived, let him.
  • #17,931
  • Jul 9, 2007 6:11pm Jul 9, 2007 6:11pm
Amazing news data releases nowadays.
NFP = good, US bearish

GBP PPI Input m/m http://forexfactory.com/images/misc/...mpact_high.gif 0.6%
1.0% 1.4%http://forexfactory.com/images/misc/...us_revised.gif
GU up by 60 pips.

I think the only thing right now is to scalp for tiny pips...
SPECULATION is KING.

Again today : NZD NZIER Business Confidence http://forexfactory.com/images/misc/...mpact_high.gif -37

-15
NZD down by 17 pips.
  • #17,932
  • Jul 9, 2007 6:22pm Jul 9, 2007 6:22pm
I see a head and shoulders pattern forming on the 15min. I'm thinking a 30 pip drop if it breaks 2.0140.
What do you all think?
  • #17,933
  • Jul 9, 2007 8:47pm Jul 9, 2007 8:47pm
No reason to go up is the reason to go down.

Patience.
  • #17,934
  • Jul 9, 2007 9:05pm Jul 9, 2007 9:05pm
There's ALWAYS a reason behind a market move, whoever thinks differently needs to educate themselves.
  • #17,935
  • Jul 9, 2007 9:10pm Jul 9, 2007 9:10pm
Quoting tksu22
I see a head and shoulders pattern forming on the 15min. I'm thinking a 30 pip drop if it breaks 2.0140.
What do you all think?
But it is only on the 15 chart, it would be a good short if it were on the dailys
  • #17,936
  • Jul 9, 2007 9:33pm Jul 9, 2007 9:33pm
Quoting bodge
There's ALWAYS a reason behind a market move, whoever thinks differently needs to educate themselves.
I agree
TRADE LIKE A MACHINE!
  • #17,937
  • Jul 9, 2007 9:53pm Jul 9, 2007 9:53pm
Dont get so caught up in the technicals that one forgets sentiment. With U.K have it's High Line effect on the dollar one might want to sit on the hands until a major price give. last Fridays Buy the Rumor sell the news was in full effect. The Pound is hot and wants to break the 2.0200 clean thru but the loom of what if and whens keep the money tight awaiting a bit of info that will indicate the time=frame of the next hike to 6%. meanwhile the pound sits near the dragons door waiting for a sneak past..

Anthony Naylor,
4xstrategy.### Analyst
"Look Left Think Right"
  • #17,938
  • Jul 10, 2007 12:44am Jul 10, 2007 12:44am
failed to break the resistance...
  • #17,939
  • Jul 10, 2007 12:57am Jul 10, 2007 12:57am
action packed!
  • #17,940
  • Jul 10, 2007 1:45am Jul 10, 2007 1:45am
Failed to close below 130 also. Patience is the key. Waiting for breakout.
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