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Cable Update (GBPUSD)

  • #901
  • Dec 6, 2006 2:32am Dec 6, 2006 2:32am
Patience is a virtue in this business. Things look like a short and now everything is on hold. For me anyway.
  • #902
  • Dec 6, 2006 2:34am Dec 6, 2006 2:34am
i agree with you i scalped my 35 pips in an hour and a half im finnished untill this short is over and ill back in it for the long
  • #903
  • Dec 6, 2006 2:39am Dec 6, 2006 2:39am
Nice job
Quoting ronhickey
i agree with you i scalped my 35 pips in an hour and a half im finnished untill this short is over and ill back in it for the long
  • #904
  • Dec 6, 2006 2:53am Dec 6, 2006 2:53am
The only thing that make g/u sideway is that everyone want to see him toutch 2.00...But Its not a must...its an hope and its only based on speculation that have make g/u long term target reatched in 1 week.Everyone know that g/u have simply raise too fast last week as euro done it too...Not be surprise if Euro not raise hike tomorrow...in that case see euro at 1.3150 and g/u big 300 pips down!Also bunch of stop will be trigerred by g/j drop as yen start to take back strengh.!
  • #905
  • Dec 6, 2006 3:19am Dec 6, 2006 3:19am
Key resistence in .9678 yesterdays low plus we have a news announcement coming out.
  • #906
  • Dec 6, 2006 3:34am Dec 6, 2006 3:34am
anyone get excited and buy yet?
  • #907
  • Dec 6, 2006 3:35am Dec 6, 2006 3:35am
Bad news releases are driving the pound down quite a bit right now.
  • #908
  • Dec 6, 2006 3:36am Dec 6, 2006 3:36am
I will wait for the U.S. news later at 8:15 EST, from then will SELL G/U.
  • #909
  • Dec 6, 2006 3:36am Dec 6, 2006 3:36am
Excited traders are, w/ apologies to Edwin LeFevre "whats gonna keep my wife in good humor and pay for my beach house"
Quoting ronhickey
anyone get excited and buy yet?
In trading, there is no bullshit. You either make money or you don't.
  • #910
  • Dec 6, 2006 3:38am Dec 6, 2006 3:38am
Cable weighed down by much worse then expected UK IP data December 6. Cable has fallen by more than a quarter-cent to a new intra-day low
of 1.9658 on the back of October"s much worse-than-expected UK industrial and
manufacturing production data. IP fell by 0.8% m/m, against a forecast increase
of 0.1%. MP fell by 0.4% m/m, against a forecast increase of 0.2%.
Touted bids at 1.9640 represent a bear target below. Stops are touted under
1.9635.
1.9680 is now a rebound resistance level. Demand at 1.9680 propped GBP/USD into
the UK IP data. [email protected] /PS
  • #911
  • Dec 6, 2006 3:39am Dec 6, 2006 3:39am
Oh be nice
Quoting ronhickey
anyone get excited and buy yet?
  • #912
  • Dec 6, 2006 3:50am Dec 6, 2006 3:50am
hmmm...hit my tp on 9784 but it coming down to 30ish.but it's good.anyone predict will break 9605? if so..i will start long again to make other 50 pips.rite now just will ranging after this big move i guess.
  • #913
  • Dec 6, 2006 3:51am Dec 6, 2006 3:51am
December 6. Cable has extended south to 1.9635/40 bids, with October"s poor UK
industrial and manufacturing production data continuing to weigh (See 42331 ).
The downside surprise is bad news for UK rate hawks touting another 25bp hike to
5.25% in February.
Touted stops below 1.9635 could spur fresh downward momentum towards 1.9600 if
tripped. [email protected]






[IFR Forex Watch]</PRE>


[SQUAWK BOX]</PRE>
  • #914
  • Dec 6, 2006 3:57am Dec 6, 2006 3:57am
Looks like .9738 is the days high and statistically the pound on the average moves 134 pips between the high and low that would put the low at .9604 which on my chart shows the S2 being .9604 and the MS3 as .9264. Just food for thought.
  • #915
  • Dec 6, 2006 4:00am Dec 6, 2006 4:00am
end result will be 9100's to 9040's before move up to make run for the 2's if we overextend on the lower end forget about the 2's



Quoting goodthings
Looks like .9738 is the days high and statistically the pound on the average moves 134 pips between the high and low that would put the low at .9604 which on my chart shows the S2 being .9604 and the MS3 as .9264. Just food for thought.
  • #916
  • Dec 6, 2006 4:04am Dec 6, 2006 4:04am
Short all day Friday pull out for a Long on the NFP
  • #917
  • Dec 6, 2006 4:05am Dec 6, 2006 4:05am
Quite a market. For the past week and half nobody was scared of .2000 and now look where we are at.
  • #918
  • Dec 6, 2006 4:07am Dec 6, 2006 4:07am
Anybody know what the consumer credit spending does to the market
  • #919
  • Dec 6, 2006 4:14am Dec 6, 2006 4:14am
Quoting fixme1too
end result will be 9100's to 9040's before move up to make run for the 2's if we overextend on the lower end forget about the 2's
Ok Fixme1Too, would you say that this is the end of the corrective wave A and we are going into wave B ( up ) Or is their still more downward movement to Wave A and were would you say it is going. My charts show 9600 if that is broken then a chance to fall to 9465 before a wave B could form.
  • #920
  • Dec 6, 2006 4:17am Dec 6, 2006 4:17am
The low so far is .9631 and I noticed that fridays low was .9635 and the daily MS2 is .9635. It is interesting to see how these numbers keep having some relevence (sp).
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