Cable Update (GBPUSD)

I introduce myself as a beginner stupid trader, so I am sorry about my question.

Im still confuse about using periode on seeing chart. What period is best used in what condition, in what time is that condition usually to happen, etc

Thx for the help...

Can anybody post squawk box 'Huge opening drive leaves Chicago long and wrong'


Its about Euro but it contains a useful message.

haha they miss me by 1 pip and now im back on track

do you think we will see 1.9750-1.9800 this year?

For those more experienced at this...

What can we say about Sunday opening?

Well, that would depend on today's closing

It's Friday afternoon and it's pretty much done, guys. I doubt we'll see any rally in the last hour or so. It looks like it's gonna close to the low of the day and for the week.

Regards

correction, after 2 working days! hehe!! this is based on the KULANGOT system!!!

Being so, then what can we say about Sunday opening? I know that price bumps are not unusual when the market opens. I'm bringing this question exactly because it looks like GBP is gonna close at a very, very different level than it hold during this week. It sounds like a window of opportunity here to put a few more pips in the pocket.

Am I wrong?

Again a little 100 pips and we are in... Congrats Fixme1too...

Well, exactly the same thing which occured today occured on the Nov 2005 NFP release - (if I remember correctly) the numbers came in weaker than expected and the Dollar sold off quickly, but then traders started analysing the data properly and then there was a massive Dollar buying - a complete reversal within a couplr of hours ( I think there may have been revisions to the previous NFP numbers)

Prior to the NFP report in Nov 2005 GBPUSD had drifted down slowly, the same type of price action occured today.

Support already broken 1.9529 so my prediction next week USD will be strong (3-5 days).. most probably the price will go to 1.9300 and bouce up to 2.0 Hopefully.

BUT you have to be very carefull at 1.300 area hope you guys understand what i mean. The bog boys and China trader watching us. They read our post and they know our plan

British Pound
With no new economic data through the day, the Pound likewise traded completely off of dollar-based moves. Despite rallying to breach yesterday’s highs, the previously unstoppable British Pound dipped to fresh weekly lows on the close. There was relatively little in terms of fundamental reasons for the Pound’s declines, except to note that tonight’s Commitment of Traders report showed that Pound net longs fell on the week. Speculative bets on the GBP’s continued appreciation fell off of record-highs, indicating that price action may have topped out in the short term. Of course, such a scenario will largely depend on the coming week of economic data, with government officials due to report on Consumer and Producer inflation through the month of November. Any negative surprises could certainly hamper any hopes of a continued Pound rally, as falling inflationary pressures would effectively rule out higher interest rates through the medium term.

US Dollar
As we said yesterday, Friday’s economic indicators would assess whether volatility had truly returned to the FX market. For those looking for trading opportunities in a more active market, the results didn’t disappoint. A consistently top ranked market-moving indicator, today’s NFPs built pressure behind the dollar; but the initial reaction was muddled. Payrolls through the month of November grew 132,000 heads, which was both better than expected and far above the previous month’s read. This headline number, on the other hand, was tainted by a revision in October’s figure from 92,000 to 79,000. What’s more, in comparison to the average payroll additions in the first half of the year, this was a modest improvement. The same mixed sentiment was present in the remaining statistics of the labor report. Average hourly earnings for the month rebounded to a 4.2 percent annual pace of expansion, while the jobless rate countered by stepping up to 4.5 percent. Taking a deeper look into the employment numbers broken down by sector, the same offsetting sentiment was seen. So, from all angles, the labor numbers could have been regarded as the average print. However, these numbers were not taken in isolation; and it was the contrast drawn against preconceived dollar pessimism that helped to sow the seeds of a rally. With fears over the economy heading for a hard landing prevailing over the dollar, today’s employment and wage numbers helped alleviate the pressure while diverting expectations for a Fed rate cut by the first quarter of 2007. With this underlying optimism lying in wait, all that was needed was a trigger. Enter Treasury Secretary Henry Paulson who sparked the rally when he offered his opinion that today’s employment numbers were ‘good news’ and provided evidence economic growth was heading toward sustainable levels. On these comments the dollar entered a steep rally against most of its major pairs that easily measured over 100 points.

After evaluating charts. tp should be in mid 9300's area. end of this whole down move will be 9040's. 2's maynot be hit or seen at all. VERY IMPORTANT AREA WILL BE BETWEEN 9669 and 9775 after we bounce from 9040's. We will have to see price action once we get to this area but for now I am looking for the bounce in the mid 9300's and before we go up to the 9770's area.

Does anybody have any information on how the 4:30 am eastern time announcements for the GBP effects the gbp/usd currency?

Do you say that based on 9337 is the .382 fib of oct. 11 thru Dec.1 low of 8514 and high 9846 (50 days)and the 9341 is the .50 fib of nov.7 thru Dec. 1 low of 8636 and high of 9846.

no my count is not the same here.

hummm...

My charts don't turn back on until 5pm EST. Does anybody who has earlier access to charts have any price info?