Cable Update (GBPUSD)

And not to mention the Bollingers are wide open, so a major trend is imminent, either a major descent or a major transcent.

I don't believe it's a good time to buy, at least wait and see if it has the power to break the 2.300 level, candle hasn't closed yet. For now it seems it doesn't have what it takes but wait and see.

GBP is extremely volatile, if you study it well and put yourself in the right position, you can make a tidy $10,000 profit, if you don't, you can lose $10,000; you have to trade wisely with this currency.

hi guys.. i think its bear day! but until the releases it should make its way up to the 340s and then head down..

ps. on the dailies - bearish engulf

http://i164.photobucket.com/albums/u...54623660_m.gif

go bears...

DOW JOnes lost 0,51% and usd had a corection due to oil prices. Let's see the continuation. WHo is weaker today GBP with all the low CPI and indicators or USD with all it's fall due to oil.

For now we have a draw.

UK's Unemployment reports is coming out today, don't know what to expect though, here's the GBP trend at the 4h chart

buangcla, nice bear dance

I can't see them, but I can smell them

http://www.atlastours.net/holyland/sea_of_galilee.jpg

yeah looks like it...


http://i169.photobucket.com/albums/u...matedgif16.gif

Instant move UP UP, maybe long ? or just a small speculation

Ok, I'm re-adjusting targets. I'll aim for 2.0388 then take 3 shorts from there

The focus for the UK gilt market Wednesday will be on the BOE MPC October meeting minutes, where interest rates were left on hold at 5.75%, says Barclays Capital. "We expect an 8-1 vote, with MPC member Blanchflower voting for a cut," says Huw Worthington, a strategist at BarCap. "With comparatively little priced in terms of cuts for the front end, the risks in our view, are weighted towards a set of minutes showing that some in the more dovish faction are ready to begin moving towards an easing bias," Worthington adds.

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The Bank of England's MPC minutes from the October 3/4 meeting are published at 0830 GMT. Tuesday's CPI release (core 1.5%) suggests the BoE's view that inflation will remain at or below target over coming months is correct, says Commerzbank. The numbers point to the next move in UK rates being a cut, however Commerzbank thinks market expectations of a November move are premature, especially as BoE governor King's speech last week suggested a near-term rate cut was unlikely. Therefore, Commerzbank sees a risk that the minutes will confirm the MPC's wait-and-see mode, and be less dovish than the market may expect, therefore being sterling friendly. For cable, gains towards 2.05 are likely, but it's probably against the euro that sterling will benefit most, with gains toward 0.69 on the cards.

Im just going to wait for the first reliable candlestick formation - (bearish engulf etc) on the 15 mins and short there...watching closely now!!

...already traded above 0365 in a daily candle

a great great bearish divergence

Bears? where? I'll shoot em

What is this 1-8? 1 for a hike?

Or it is just the "bad news is good news" era kicking in again?

BOE Oct Minutes: MPC Voted 8-1 To Hold Bank Rate At 5.75%
BOE Minutes: Blanchflower Voted To Cut Bank Rate To 5.5%
BOE:Mkt Turmoil Hasn't Had Substantial Impact On Confidence
BOE: Important Not To Prevent Slowdown Forecast In August
BOE: Time To Consider CPI Impact Of New Credit Conditions
BOE: Cut Could Have Been Seen As Sign Of Sharp Slowdown
BOE: Cut Could Have Been Seen As Support For Fincl System
BOE: Signs That Conditions In Credit, Money Mkts Improving
BOE: Conditions In Money Mkts "Difficult For Some Time"
BOE Minutes: "Only Limited" Signs Of Slowing Economy
BOE: CPI To Stay Close To Target Over Next Few Months
BOE Oct Minutes: No Discussion Of A Rate Hike
BOE Oct Minutes: MPC Voted 8-1 To Hold Bank Rate At 5.75%