Cable Update (GBPUSD)

now im long 180 sl 155...

The only thing that might stop GU from falling is a hawkish Trichet.

"CPI inflation fell back to 1.9% in July and may remain around, or a little below, the 2% target for the next few months." - BoE

"Pay pressures remain muted. There are tentative signs of a slowing in consumer spending." - BoE

"It is too soon to tell how far the disruption in financial markets will impair the availability of credit to companies and households. As stated in its August Report, the MPC is monitoring closely the evolution of both credit spreads and the quantities of credit extended" - BoE

This is not dovish i admit... but this neutral statement combined with the fact that they don't even release statements on holds, tells me that this might be an unanimous decision.

Trichet will say the same thing, i guess.


If the weekly trend already resumed, which i don't know... we might see a rise anyway with fresh buyers, but if it didn't, this is not the greatest statements for bulls.

I'm still clueless here... Want to see if the bounce off 0165 confirms this area as support.

The no-change was already largely expected and this move seems exacerbated to me... But who knows? Let's see if we will have more sellers of if (when and where) the buyers will pop in

Even the statement itself doesn't bring something new. Last 1.9% CPI was already traded and everybody knows that there is a credit crunch in the market... LOL

Sorry typing mistake it is 2.025's area

I see next support at 2.0135. If this break! I think i'm gonna stop trading..

Famous Quote of the week ( cable will say you go your way and il go my way ) forgot who said that but it's true as hell.

hmm i guess we'll have to wait till Van Damme speaks to see any real movements.

my long at 2.0208 got zapped pretty quickly !

euro is so nonchalant (the French don't have a word for that)

cable has to bounce from 170 hasn't it ???!!!!!

will try another long there

no way euro will decouple and euro looks fine...

How come you forgot who said this
It was me
I said cable will act (You go your way, and I'll go mine)

Here is what I think: $^&£($^&£$*&£^$*&£^*&£... In short fill, be, fill, sl, fill, be, fill, sl.... wattahelll

is this a typical cable move or is this a typical cable move.. claaaasic...first shake out people form the market and then continue going its way.. i believe it will cointinue upwards ,let stop loss tell me otherwise

Well, at least you have one hell of a trustworthy broker...

ha ha euro is kicking, I can bet this small cable fall ignited euro shorts real hot and gave a nice chance to euro to climb a little.

I think cable heard ya, almost there at .0200

OF course after hitting SLs and BEs real hard

There is some sort of a consensus that ECB will have to raise rates one more time this year, so a no-change opens room for a hike in the near future.

But on BOE, no one is sure whether or not 5.75% will be toppish for 2007. To recall that early this year, 5.5% was being priced as toppish for 2007.

Here comes Trichet and his mumbo jumbo. If he pops with "strong vigilance" today, Euro is 3780 minimum.

still long...and still hate my broker...

come on cable, brake 200 strong again !

Trichet will be webcast

http://www.ecb.int/home/html/index.en.html

Click Live webcastress conference

I don't know but it seems to me that on the daily chart of the gu a huge ghost is forming????? Down leg is coming????