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Cable Update (GBPUSD)

  • #2,161
  • Dec 16, 2006 5:18am Dec 16, 2006 5:18am
Piece of information. It's going to be another interesting week

The Week Ahead

Dec 15, 17:30 GMT

It's GDP time

Both US and Uk GDP top the agenda for the next week's main economic releases. Both coming out on Thursday, turning this into the busiest (economically speaking) day of the week ahead.

The US is active in economic releases next week, with PPI figures and housing starts on Tuesday, and the Leading Indicators and Philly Fed Indexes completing a magic Thursday. But the market will not have an easy end of the week, as Friday is the day where Personal Income & Spending data will be released, turning that day also into a volatile one.

The UK will see the release of the BoE's MPC minutes from their alst meeting on Wednesday, and that will be the most important data for that particular day.

Germany is active with Tuesday's IFO and Friday's CPI, but the Eurozone does not ahve anything else of real importance.

The start of the week (Monday) wil be relatively calm as there are not big sevents scheduled.

 

  1. Weekly Market Commentary - Stock indices had another stellar week by Mizuho Corporate Bank
  2. Friday Notes - The Fed's fixation with inflation by HVB Group
  3. FX Briefing - FOMC signals increased growth uncertainty by BHF-Bank
  4. Weekly Focus - Is the US economy coming round? by Danske Bank A/S

  • #2,162
  • Dec 16, 2006 6:16am Dec 16, 2006 6:16am
This came from Daily Fx



GBPUSD – Cable is quietly slipping – although the pair is holding up better than the EURUSD. The break below a short term (1 month) supporting trendline today favors continues weakness and a test of the 12/11 low at 1.9464. The longer term turn signals remain valid – that is, RSI crossing below 70 and CCI crossing below 100. If 1.9464 is given, then support would come in at the 50% fibo of 1.8834-1.9847 at 1.9341. The upside pivot is the 12/13 high at 1.9727. A cautious bearish bias is warranted due to the break of the short term trendline.

http://www.dailyfx.com/export/sites/...2006Techs4.gif
  • #2,163
  • Dec 16, 2006 7:49am Dec 16, 2006 7:49am
I am short, with a target of 1.92, notice the two fibs within a couple pips of each other just below 1.92.
Attached Image
  • #2,164
  • Dec 16, 2006 7:51am Dec 16, 2006 7:51am
Quoting danegg7
I am short, with a target of 1.92, notice the two fibs within a couple pips of each other just below 1.92.
Interesting! Let's keep it in mind....
  • #2,165
  • Dec 16, 2006 7:56am Dec 16, 2006 7:56am
Thanx 4 sharing that info. U must hav noticed that EURUSD & GBPUSD r approaching the 38.2 fib level (make that 2nd time 4 GBP) on the daily charts. And the double bottom in the GBP chart might suggest a bullish stance. Just a Thought. Could U tell me how 2 upload chart files so that it can be viewed in this reply? I tried using Insert Image & upload file options but the files can only be seen as attachments & cant be posted here like ur charts. Thanx
  • #2,166
  • Dec 16, 2006 8:12am Dec 16, 2006 8:12am
On the short side of things. The pound moves an average of 324 pips from the high and low of the week. Last week it moved 260 pips which is a good mean average (meaning more commonly moved)
Attached Image
  • #2,167
  • Dec 16, 2006 8:18am Dec 16, 2006 8:18am
try using internet explorer if your not already as your search engine. When I use Mozilla Fox it will only let me post charts as an attachment.



Quoting forexnovice
Thanx 4 sharing that info. U must hav noticed that EURUSD & GBPUSD r approaching the 38.2 fib level (make that 2nd time 4 GBP) on the daily charts. And the double bottom in the GBP chart might suggest a bullish stance. Just a Thought. Could U tell me how 2 upload chart files so that it can be viewed in this reply? I tried using Insert Image & upload file options but the files can only be seen as attachments & cant be posted here like ur charts. Thanx
  • #2,168
  • Dec 16, 2006 8:36am Dec 16, 2006 8:36am
Sorry didn,t get u
Quoting goodthings
try using internet explorer if your not already as your search engine. When I use Mozilla Fox it will only let me post charts as an attachment.
  • #2,169
  • Dec 16, 2006 8:48am Dec 16, 2006 8:48am
what search engine do you use to access the internet
Quoting forexnovice
Sorry didn,t get u
  • #2,170
  • Dec 16, 2006 8:49am Dec 16, 2006 8:49am
4 searching about info I use Google but 4 accessing the net I use Internet Explorer
Quoting goodthings
what search engine do you use to access the internet
  • #2,171
  • Dec 16, 2006 8:57am Dec 16, 2006 8:57am
When you save your chart what do you save it too for example I save them to my program windows picture size being 600 x 600.
  • #2,172
  • Dec 16, 2006 8:59am Dec 16, 2006 8:59am
Save it as Gif with dimensions 600 X 600
Quoting goodthings
When you save your chart what do you save it too for example I save them to my program windows picture size being 600 x 600.
  • #2,173
  • Dec 16, 2006 9:11am Dec 16, 2006 9:11am
do you then save your chart to a certain file? Then go to attach file to your post and browse that file for the chart?
  • #2,174
  • Dec 16, 2006 9:18am Dec 16, 2006 9:18am
Thanx 4 ur patience.I am able 2 attach the file but unable to have it displayed on this page. Here it is....
Attached Images
  • #2,175
  • Dec 16, 2006 9:20am Dec 16, 2006 9:20am
Give me a bit let me check something here.
  • #2,176
  • Dec 16, 2006 9:32am Dec 16, 2006 9:32am
Gotta go run an errand. Thanx goodthings & do post ur reply. See ya in a couple of hours. Bye 4 now
  • #2,177
  • Dec 16, 2006 9:49am Dec 16, 2006 9:49am
You and I are seeing things a little differently. On the EUR/USD daily chart I am seeing a 1-2-3 formation in play. This should take us down to 1.2963. The GBP/USD on the other hand has been more resilient than the EUR/USD in the past week, and hasn't broken the 9464 low, and therefore the 1-2-3 formation hasn't been brought into play, but I believe the EUR/USD will serve as a magnet to the GBP/USD and we will break the 9464 early next week, and hopefully head till 9200 by Friday.

Here is information regarding the 1-2-3 formation, very simple, yet very reliable.
http://www.surefire-trading.com/tsl/tl/tl-72.html
  • #2,178
  • Dec 16, 2006 9:53am Dec 16, 2006 9:53am
BTW, if we break 9464 that that gives us a target of 9202, 30 pips above those fibs in the chart I previously posted.
  • #2,179
  • Dec 16, 2006 10:27am Dec 16, 2006 10:27am
Quoting forexnovice
Thanx 4 sharing that info. U must hav noticed that EURUSD & GBPUSD r approaching the 38.2 fib level (make that 2nd time 4 GBP) on the daily charts. And the double bottom in the GBP chart might suggest a bullish stance. Just a Thought. Could U tell me how 2 upload chart files so that it can be viewed in this reply? I tried using Insert Image & upload file options but the files can only be seen as attachments & cant be posted here like ur charts. Thanx
I upload them in this website: www.photobucket.com. They send you the URL for you to use here.
  • #2,180
  • Dec 16, 2006 3:50pm Dec 16, 2006 3:50pm
If that doesn't work for you let me know.
Quoting cesarnc
I upload them in this website: www.photobucket.com. They send you the URL for you to use here.
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