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Cable Update (GBPUSD)

  • #981
  • Dec 7, 2006 2:36am Dec 7, 2006 2:36am
This is from Fxcm
GBPUSD – Cable appears to be nearing the end of a 5 wave bullish sequence from 1.7046. The 5th wave of this advance began on 10/11 at 1.8515 and is likely near the end of its 3rd wave. Thus, what is left is a corrective move lower (which looks to be occurring now) and perhaps one more high above 1.9846 before a multi month decline begins to correct the advance from 1.7046 . Fibo support begins at the 38.2% of 1.8834-1.9846 at 1.9461. Support at that area is reinforced by the 11/27 gap opening high at 1.9463.

http://www.dailyfx.com/export/sites/...2006Techs4.gif
  • #982
  • Dec 7, 2006 2:42am Dec 7, 2006 2:42am
You still short now?



Quoting fixme1too
im in short from 9670 closed short from 9775 to 9650 today. waiting for 9531 now.
Yacob I dive the market without Fear.
  • #983
  • Dec 7, 2006 3:39am Dec 7, 2006 3:39am
The pound is underpinned by the M & A news, Barclays a touted target December 7. Japan Tobacco"s takeover approach for GBP 6.4bn-valued Gallaher (FT
website), plus talk of Spanish or US interest to acquire Barclays (Reuters), is
helping underpin the pound. The Halifax"s earlier disclosure that UK house
prices rose by another 1.7% last month is also GBP-supportive.
GBP/USD resistance levels include 1.9712, 1.9739, 1.9808, 1.9822, and 1.9849
(last Friday"s 14-year high). The 2.00 level is also still being mentioned in
dispatches. 1.9712 was yesterday"s rebound rally high from the post-ADP
employment report six-day low of 1.9617.
Bids are tipped at 1.9650. [email protected]
  • #984
  • Dec 7, 2006 3:44am Dec 7, 2006 3:44am
i think we should short gbp
  • #985
  • Dec 7, 2006 3:45am Dec 7, 2006 3:45am
nope got out this morning will get back in after boe statement and nfp

good chance cable is long for today.

Quoting Yacob
You still short now?
  • #986
  • Dec 7, 2006 3:59am Dec 7, 2006 3:59am
i see 9712 as being the area of importance top of a 4 wave on the 4 hour but i dont do news trade buy rule if i am up on min down i take small profit or min loss and get out of market. Just my rules technically we should go but the possibility of the up move got me out of the market.



Quoting goodthings
<TABLE cellSpacing=1 cellPadding=2 width=120 border=0><TBODY><TR><TD noWrap width=60 bgColor=#d9e2ec>Date: </TD><TD width=60 bgColor=#d9e2ec>2006/12/07</TD></TR><TR><TD noWrap bgColor=#d9e2ec>Time: </TD><TD bgColor=#d9e2ec>09:52 (GMT +1)</TD></TR><TR><TD noWrap bgColor=#d9e2ec>Ticker: </TD><TD bgColor=#d9e2ec>GBP</TD></TR><TR><TD noWrap bgColor=#d9e2ec>Last: </TD><TD bgColor=#d9e2ec>1.9687</TD></TR><TR><TD noWrap bgColor=#d9e2ec>Pivot: </TD><TD bgColor=#d9e2ec>1.9705</TD></TR><TR><TD noWrap bgColor=#d9e2ec>1<SUP>st</SUP> sup.</TD><TD bgColor=#d9e2ec>1.962</TD></TR><TR><TD noWrap bgColor=#d9e2ec>2<SUP>nd</SUP> sup.</TD><TD bgColor=#d9e2ec>1.9595</TD></TR><TR><TD noWrap bgColor=#d9e2ec>3<SUP>rd</SUP> sup.</TD><TD bgColor=#d9e2ec>1.955</TD></TR><TR><TD noWrap bgColor=#d9e2ec>1<SUP>st</SUP> res.</TD><TD bgColor=#d9e2ec>1.9705</TD></TR><TR><TD noWrap bgColor=#d9e2ec>2<SUP>nd</SUP> res.</TD><TD bgColor=#d9e2ec>1.974</TD></TR><TR><TD noWrap bgColor=#d9e2ec>3<SUP>rd</SUP> res.</TD><TD bgColor=#d9e2ec>1.977</TD></TR></TBODY></TABLE></TD><TD valign="top" align="left"><TABLE cellSpacing=0 cellPadding=1 border=0><TBODY><TR><TD bgColor=white><TABLE cellSpacing=1 cellPadding=2 border=0><TBODY><TR><TD bgColor=#d9e2ec>Title: </TD><TD width="100%" bgColor=#d9e2ec>GBP/USD intraday: bearish below 1.9705</TD></TR><TR><TD bgColor=#d9e2ec>Summary: </TD><TD bgColor=#d9e2ec>Update on supports and resistances.</TD></TR><TR><TD vAlign=top align=left bgColor=#d9e2ec>Story: </TD><TD vAlign=top align=left width=300 bgColor=#d9e2ec>Pivot : 1.9705



Our preference : Short positions below 1.9705 with targets @ 1.962 & 1.9595 in extension.

Alternative scenario : Above 1.9705 look for further upside with 1.974 & 1.977 as targets.

Comment : The pair is capped by a declining trend line.


</TD></TR></TBODY></TABLE></TD></TR><TR><TD vAlign=top align=left width=590 bgColor=white>http://www.tradingcentral.com/chart/...1207095115.GIF</TD></TR></TBODY></TABLE></TD>
  • #987
  • Dec 7, 2006 4:57am Dec 7, 2006 4:57am
Next entry point for a new long ?
Any ideas ?
  • #988
  • Dec 7, 2006 5:18am Dec 7, 2006 5:18am
Quoting fixme1too
nope got out this morning will get back in after boe statement and nfp

good chance cable is long for today.
I am with you on this one, I just closed on my short trades. This could go either way, and I for one am going to sit tight till tomorrow when we see what the news brings.
  • #989
  • Dec 7, 2006 5:25am Dec 7, 2006 5:25am
Quoting dswk
Next entry point for a new long ?
Any ideas ?
Hi dswk,

I think we should wait for NFP first before jump into a new long position
  • #990
  • Dec 7, 2006 5:31am Dec 7, 2006 5:31am
Does anybody think there will be a big move on the GBP Boe statement?
mama
  • #991
  • Dec 7, 2006 6:25am Dec 7, 2006 6:25am
[GBP/USD] is little changed after the as expected decision by the BOE to lea...

[GBP/USD] is little changed after the as expected decision by the BOE to leave interest rates as expected at 5.00%. The Pound made some losses through the session, however, despite fresh booming UK housing data. Nov's Halifax HPI rose way beyond expectations at 1.7% m/m and 9.3% y/y. Initial Cable upside followed, but ran into Asian account led supply above 1.9700/10. Note also there has been much talk over recent sessions that Gilts redemptions today (Gbp 12bln-plus) could weigh. From here, it is all about the ECB and Trichet, with a New York bank a noted Eur/Gbp seller ahead. Stops are in place both sides, through 1.9610/15 and 1.9710/15.

>>> I read: "Stay out for a while". What do you?
  • #992
  • Dec 7, 2006 6:41am Dec 7, 2006 6:41am
I am short since 1.9690 but with tight SL, just in case. Just a punt

Also short on EUR/USD @ 1.3310, previous uptrend is still looking tired, there have been no major retracements.
  • #993
  • Dec 7, 2006 6:50am Dec 7, 2006 6:50am
i short 1.9710 and was stop loss at 1.9680
  • #994
  • Dec 7, 2006 7:16am Dec 7, 2006 7:16am
I haven't close yet because price will keep going down and hopefully NFP will be positive for US. IF NFP news, USD bullish maybe i will target my TP @ 1.9300ish.

Quoting fixme1too
nope got out this morning will get back in after boe statement and nfp

good chance cable is long for today.
Yacob I dive the market without Fear.
  • #995
  • Dec 7, 2006 7:24am Dec 7, 2006 7:24am
Hello Guys

Can Trchet's speech effect big to cable? Same direction as Euro?

What's your opinion?

Thanks
These too shall pass away.
  • #996
  • Dec 7, 2006 7:27am Dec 7, 2006 7:27am
Quoting fspirani
Hello Guys

Can Trchet's speech effect big to cable? Same direction as Euro?

What's your opinion?

Thanks
Average impact.... but impact... all in one : GBP take the south direction....
  • #997
  • Dec 7, 2006 8:41am Dec 7, 2006 8:41am
Quoting stonie
i short 1.9710 and was stop loss at 1.9680
What do u mean?? U short and ur stop loss under ur price??
  • #998
  • Dec 7, 2006 10:50am Dec 7, 2006 10:50am
Down as a possible....direction south...
  • #999
  • Dec 7, 2006 10:53am Dec 7, 2006 10:53am
or a beartrap the broken 1.9630
  • #1,000
  • Dec 7, 2006 10:59am Dec 7, 2006 10:59am
GBP/USDivot: 1.9674; Support 1: 1.9608; Support 2: 1.9552; Resistance 1: 1.9730; Resistance 2: 1.9796
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