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Why is GBPUSD called cable? 76 replies

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

Read This And Understand........































There Is No Such Thing As The Highest And Lowest Point
Quoting cesarnc
At first glance, we might have found the top for the day. A lot of wounds to lick in the dollar side. But I can't see this last run as final.
Reason why:

- Euro hasn't CRACKED it's historical high 3679 to stop at 3735. It's just not "Euroish"
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
most of this still means little to me (new trader), but someone may be able to pick something from it.


16:23 GBP/USD: Fresh Highs; But GBP Shows Weakness on the Crosses New York, July 10. Cable has surged to fresh 26 year highs today reaching 2.0275, following a broad bout of USD weakness and tripped stops above the previous highs by 2.0208. Helping to prop the pair in early Asia was the BRC retail sales release which saw a 3.0% rise y/y, the highest level since March. However, it is worth noting that the pair has not performed as well versus the majors today with GBP showing weakness against the EUR, CHF, and JPY. EUR/GBP trades well off its .6751 lows at .6775, GBP/CHF has moved down to as low as 2.4385, off from its 2.4565 highs, and GBP/JPY has dropped sharply to 246.90 down over 1.5% on the day.
The setbacks in GBP on the crosses is understandable considering the broad based carry trade sell-off today, with all of the high yielders suffering as a result. Additional concerns for the currency could also be attributable to earlier comments out from BoE"s Gieve, citing concerns over the sharp drop in inflation and the potential impact the BoE tightenings could be starting to have on the economy. [email protected]

views welcome.
Quoting AnneMarie
Can you tell me if one of the news sites will have Bernanke speaking? and which one? Thank you....
try bloomberg radio
Ok, thanks cesar, I closed it @ 2.0246 (+160 pips), in an indirect way, you were the one who made me kept it open since Friday
Bernanke a coming. My avatar says it all.

The most he can do so far is giving the dollar a defibrillator. So I'm a buyer at 0211 and gone for a walk.
Cable is staying in the 2.xxxx since 12 days and it is still fighting for more high levels, the last time cable stayed in this area was 11 days only
Quoting MPP
most of this still means little to me (new trader), but someone may be able to pick something from it.


16:23 GBP/USD: Fresh Highs; But GBP Shows Weakness on the Crosses New York, July 10. Cable has surged to fresh 26 year highs today reaching 2.0275, following a broad bout of USD weakness and tripped stops above the previous highs by 2.0208. Helping to prop the pair in early Asia was the BRC retail sales release which saw a 3.0% rise y/y, the highest level since March. However, it is worth noting that the pair has not performed as well versus the majors today with GBP showing weakness against the EUR, CHF, and JPY. EUR/GBP trades well off its .6751 lows at .6775, GBP/CHF has moved down to as low as 2.4385, off from its 2.4565 highs, and GBP/JPY has dropped sharply to 246.90 down over 1.5% on the day.
The setbacks in GBP on the crosses is understandable considering the broad based carry trade sell-off today, with all of the high yielders suffering as a result. Additional concerns for the currency could also be attributable to earlier comments out from BoE"s Gieve, citing concerns over the sharp drop in inflation and the potential impact the BoE tightenings could be starting to have on the economy. [email protected]

views welcome.
I know the UK is soon to be on the blink- but I wonder whether what's happening is more about the dollar than the GBP - even Hillary Clinton would look pretty if she stood beside the right gal
I'm Shorting the Cable BIG TIME now from 2.0248 !!

down the tube it goes :-)
“Past performance is not indicative of future results”
Quoting gobigo12
I'm Shorting the Cable BIG TIME now from 2.0248 !!

down the tube it goes :-)
me too but only for 30 pips or so then we are off again !
I think cable has more room to go up,...
maybe 2.0300,...
Quoting allserene
me too but only for 30 pips or so then we are off again !
it will run up again, but just follow the wave down. it wont top the high again and fall lower then the last low of the wave. put a stop at break even to be sure.
“Past performance is not indicative of future results”
Im new here.
Quoting tsnowfx
Im new here.
You may be new - but very soon you will have worry lines on your forehead !

Welcome !
Quoting allserene
You may be new - but very soon you will have worry lines on your forehead !

Welcome !

Yes, you are not wrong there!!!!!
Quoting tsnowfx
Im new here.
Welcome !
Sounds like a lot of empty promises. Unfortunately, their promises cannot change the housing slump the US economy is in.
I am shorting cable from 2.0260. TP at 2.0215
Quoting Solomon IG
Sounds like a lot of empty promises. Unfortunately, their promises cannot change the housing slump the US economy is in.
You can see both Bush and Bernanke on live video feed through Bloomberg if anyone is interested.
Quoting ndvt241
I am shorting cable from 2.0260. TP at 2.0215
If you want lose money ....
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