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Cable Update (GBPUSD)

  • #19,521
  • Jul 18, 2007 3:39am Jul 18, 2007 3:39am
Cable news not that good
I am going short for now
  • #19,522
  • Jul 18, 2007 3:40am Jul 18, 2007 3:40am
Cable's melting down...
  • #19,523
  • Jul 18, 2007 3:41am Jul 18, 2007 3:41am
Looks like we should have sung more hare hare

This is how the song goes


Hare Krishna Hare Krishna Krishna Krishna Hare Hare Hare Rama Hare Rama Rama Rama Hare Hare


Everybody sing along!

http://upload.wikimedia.org/wikipedi.../6Singing2.jpg




*waits patiently for 2.06xx in the meantime*
Trust price. Know yourself.
  • #19,524
  • Jul 18, 2007 3:42am Jul 18, 2007 3:42am
Quoting zamans98
How good is 6-3 vote for dollar?
Looks like it's only good until the next meeting???
  • #19,525
  • Jul 18, 2007 3:42am Jul 18, 2007 3:42am
Anyone noticed this?

"overall balance of risks was more firmly to the
upside and any delay in raising Bank Rate this month would run the risk that rates would eventually
have to go higher than otherwise would have been necessary, although no immediate judgement was
being made about the future path of rates."
  • #19,526
  • Jul 18, 2007 3:42am Jul 18, 2007 3:42am
6-3 I think there is NO much chance to increase rate in near future, may be until the end of year. So GU shall be in downtrend.
Give me patience
  • #19,527
  • Jul 18, 2007 3:46am Jul 18, 2007 3:46am
News not bullish for cable, but it looks like it will continue upwards after fighting around the 2.0500-area.
  • #19,528
  • Jul 18, 2007 3:47am Jul 18, 2007 3:47am
Quoting SeekingLight
Looks like we should have sung more hare hare

This is how the song goes


Hare Krishna Hare Krishna Krishna Krishna Hare Hare Hare Rama Hare Rama Rama Rama Hare Hare


Everybody sing along!

http://upload.wikimedia.org/wikipedi.../6Singing2.jpg




*waits patiently for 2.06xx in the meantime*


In time:

04:41. Players in the FX market are now awaiting Soros Jr's statement. Target $2.1 by Friday? Forex Factory's Laughbag Hall of Fame is being prepared to receive its next member.
  • #19,529
  • Jul 18, 2007 3:49am Jul 18, 2007 3:49am
I will only decide my next action when US data release (830) and later follow by Bernanke speech at 1000

We will see again classic example BAD UK data and GOOD US data fighting towards weekend.

UJ drop from high 121.58 to low 122.15 just now..

But Cable is still there..
  • #19,530
  • Jul 18, 2007 3:51am Jul 18, 2007 3:51am
I'm on the sidelines too...until this thing plays out.
  • #19,531
  • Jul 18, 2007 3:52am Jul 18, 2007 3:52am
16:49 FF members are looking high and low for Soros Jr, longing for 2.100 for end of this week and 2.0700 by today. It has been reported that a lot newbie get caught and hit SL few minutes ago.
  • #19,532
  • Edited 4:12am Jul 18, 2007 3:52am | Edited 4:12am
The Average Earing index (3.5) is not good for the growth.. adding to that the housing problem, that will make the BOE worry
I think the 0450 is next point
  • #19,533
  • Jul 18, 2007 3:52am Jul 18, 2007 3:52am
6-3 vote was expected, that's why the selloff, now we need to see what Bernanke will say this morning... Immediate support on the cable is at 420 as well as S1 support, need to break below for a sign of a sustained correction further
  • #19,534
  • Jul 18, 2007 3:53am Jul 18, 2007 3:53am
Okay, since I can't believe what sort of fluff people are tossing around, here's my as always super simplified view of the world:

Central Bank Rates


NZD 8.00%
AUD 6.25%
GBP 5.75%
USD 5.25%
CAD 4.50%
EUR 4.00%
CHF 2.50%
JPY 0.50%
(Source: DailyFX)

Now.

What is 5.75 - 5.25 = ?

Do you want to MAKE the difference or do you want to LOSE it?

Make money or pay money?

Which side is it better to be on?

Now move on to carry trades:
Against CHF: 5.75 - 2.5 = your interest earned

Against JPY: 5.75 - 0.5 = your interest earned

Would you rather make or pay the interest day in day out?

Do you think banks that hold these positions for weeks, months, years want to lose or make money?

This is all the fundamental information you need for the most part +- the chance of these numbers changing in the foreseeable future.
Trust price. Know yourself.
  • #19,535
  • Jul 18, 2007 3:56am Jul 18, 2007 3:56am
Quoting cesarnc
Cable's melting down...
Someone's just turned the freezer up a notch !
  • #19,536
  • Jul 18, 2007 3:57am Jul 18, 2007 3:57am
I heard the opinion the pair gbp/usd will breaking 2.20 in the middle of the next year
  • #19,537
  • Jul 18, 2007 4:04am Jul 18, 2007 4:04am
Quoting musicman007
Someone's just turned the freezer up a notch !
Yup. Seen stronger moves on disappointment with the Minutes. It's also critical how the dollar is working out today.

Euro pierced a weekly trendline at 3830 and was rejected fast. At this price, dollar index was thrown to 80.23.

Bunch of US news + 2 rounds of Bernanke to add fuel to the fire. Euro failing to sustain 3800 and cracking 3750 sets the tone for a short term (weeks) dollar recovery.... On the "dollar side" I still see a lot of fog..
  • #19,538
  • Jul 18, 2007 4:06am Jul 18, 2007 4:06am
Quoting gene22
6-3 vote was expected, that's why the selloff, now we need to see what Bernanke will say this morning... Immediate support on the cable is at 420 as well as S1 support, need to break below for a sign of a sustained correction further
small selloff gene then it jumped back up i guess we wait for uncle ben
  • #19,539
  • Jul 18, 2007 4:06am Jul 18, 2007 4:06am
don't worry guys... journey upwards has just resumed... we'll be seeing 2.0600 tonite
  • #19,540
  • Jul 18, 2007 4:09am Jul 18, 2007 4:09am
Quoting SeekingLight
Okay, since I can't believe what sort of fluff people are tossing around, here's my as always super simplified view of the world:

Central Bank Rates


NZD 8.00%
AUD 6.25%
GBP 5.75%
USD 5.25%
CAD 4.50%
EUR 4.00%
CHF 2.50%
JPY 0.50%
(Source: DailyFX)

Now.

What is 5.75 - 5.25 = ?

Do you want to MAKE the difference or do you want to LOSE it?

Make money or pay money?

Which side is it better to be on?

Now move on to carry trades:
Against CHF: 5.75 - 2.5 = your interest earned

Against JPY: 5.75 - 0.5 = your interest earned

Would you rather make or pay the interest day in day out?

Do you think banks that hold these positions for weeks, months, years want to lose or make money?

This is all the fundamental information you need for the most part +- the chance of these numbers changing in the foreseeable future.

wow, finaly some one with wisom.

Thanx, and this is why i like ff...

i am long cable...even if i loose...i had a sound reason...not to mention the momentum and what you just explained...etc etc..

big boys have invested in gbp for sake of differentials and carry trade.....
not to mention that fed will not raise rates (most likly not for lots of reasons housing etc...stocks ...)
fed most likley give out unchanged tone
good advise.

even if it is wrong, it is the best reason i have so far heard...other than technical stuf
Pipology 101 student
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