Cable Update (GBPUSD)

any1 trading gbp/chf here?

yea I have an open long position USDCHf @1.2005.It is a long term trade and i think it will go up .

when GBP was 1.2 CHF ?? :surprised

man its having a tough time breaking the resistance above 650. a break of that would send it up to or close to 700. the weak u.s. stock market is causing the weakness. time will tell.

another great week for traders. usdcad. rock!

more great things to come.

Ohhh

Im sorry i mean USDCHF

what do you mean by more great things ?

can you accidently help more !!!

Bravado, did you back your expectation with some explanation?

he's only a show off bravado that is. he will comment on things just to show off his profit. hes got big ego that he likes to tell people that hes making money just to make himself feel good. so dont expect anything from him to help you out.

no.

you are correct.

GU will go Down at least 30 PIPS now.

i wish it went to 700 too, that's where my profit target is for the day, but it's getting late in the day so I guess it won't get anywhere; another dull range today: 67 pips

PS: usd/cad trading rule: choose news days, get short and you'll go rich lol

can i know why?

his indicators are telling him that it will go down.. maybe at least thats what my indicators are telling me anyways.

Here is a bit of comment from dailyfx site. Sooner or later, cable has to crash. The fundamentals don't support this massive run up.


Meanwhile despite euro’s lackluster trade, the pound continued to show strength against the dollar. The pound’s relentless rise was supported by speculation that BoE will hike rates to 6% once again in August and the unit broke above the 2.0650 level on momentum buying. By midday London trade however, the unit retraced much of the overnight gains as the CBI Industrial trends survey printed at -6 far worse than the month prior, recording its first negative reading since January. The survey was dragged down by a sudden fall off in export orders, indicating that just as in the case of the EZ the higher value of the currency is beginning to impact the competitiveness of the UK industrial sector. The sour results in the CBI report and last night’s smaller than expected rise in house price growth may be early indications of a broader slowdown in the UK economy. For the time being the market is ignoring any potential implications of this news, driving cable higher on momentum alone. However, if future data points continue to confirm this thesis, bullish sentiment can quickly turn and sterling could face a multi-hundred point correction in the coming weeks.

Beautiful U pattern in USDCHF. Guys have you noticed EUR and CHF are trading outside last 5 weeks channel.

Edit: Sorry I mentioned EUR is trading outside its trading channel and is not true. My mistake

http://img103.imageshack.us/img103/1...7094618ev6.png

was Nostradamos in this thread ?

guys could you please give some reason for yor comments !!!

20 pips till now