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Cable Update (GBPUSD)

  • #35,981
  • Oct 18, 2007 2:34am Oct 18, 2007 2:34am
I think it's probably bearish since it slowed down since yesterday, the oil prices are stronger than ever USD is very week and since there is still tension between US and Iran I think the oil prices will only go up pushing the USD futher down against the GBP.
  • #35,982
  • Oct 18, 2007 2:35am Oct 18, 2007 2:35am
Did I say Bearish I meant bullish
  • #35,983
  • Oct 18, 2007 2:36am Oct 18, 2007 2:36am
Quoting Ayham
I think it's probably bearish since it slowed down since yesterday, the oil prices are stronger than ever USD is very week and since there is still tension between US and Iran I think the oil prices will only go up pushing the USD futher down against the GBP.
If the USD is getting weak as you say....it should go up not down...
Risk Less in the next transaction after a Win.
  • #35,984
  • Oct 18, 2007 2:37am Oct 18, 2007 2:37am
Quoting Ayham
Did I say Bearish I meant bullish
Sory didn't see it
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  • #35,985
  • Oct 18, 2007 2:39am Oct 18, 2007 2:39am
I dont know im kinda in between..i just want retail sales to come out already to give us some direction!!
  • #35,986
  • Oct 18, 2007 2:43am Oct 18, 2007 2:43am
Not a good moment to make a decision wait for the indicator to spit out the beans. if is negative it would be too bad cause the G will be weaker BUT the dollar is getting weaker too so a undecision will be created, thats my opinion, just heard on money channles that dow jones lost a few procent and USD loosing ground...so pleasee G show me a positive indicator to clear out the story.
Risk Less in the next transaction after a Win.
  • #35,987
  • Oct 18, 2007 2:46am Oct 18, 2007 2:46am
Quoting madalin
Not a good moment to make a decision wait for the indicator to spit out the beans. if is negative it would be too bad cause the G will be weaker BUT the dollar is getting weaker too so a undecision will be created, thats my opinion, just heard on money channles that dow jones lost a few procent and USD loosing ground...so pleasee G show me a positive indicator to clear out the story.
lets see what happens...
  • #35,988
  • Oct 18, 2007 2:50am Oct 18, 2007 2:50am
Broke the resistance line of the Triangle already... and then tumble down inside the Triangle again. Seems like everybody is waiting for the news at 4:30pm Malaysian time. Gbp retail sales forcasted to be lower than before meaning weakening the Pound. Any decision is wise to be made after the announcement. Right now... by right I should go long already because of the strong trust of the candle breaking the resistance of the Triangle... but then, on the fundamental side.... forcasted to be bearish. As for me, I wait until the news release.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd25a.JPG Size: 143 KB
  • #35,989
  • Oct 18, 2007 2:51am Oct 18, 2007 2:51am
September's UK retail sales, at 0830 GMT, could be the cue to go short GBP. Although the consensus is for a 0.3% rise on the month, Bear Stearns thinks sales could increase by only 0.1%. "This might even be too optimistic," the bank says, noting that consumers could have turned more defensive after recent events like Northern Rock. "With this mind, we'd err towards the short side on GBP, especially against the EUR," the bank says.
  • #35,990
  • Oct 18, 2007 2:52am Oct 18, 2007 2:52am
As far as currencies are concerned, this G7 meeting is unlikely to be any more eventful than previous meetings. Sure, European officials have expressed their concern about EUR strength. However, the US is likely to welcome the fall in the USD as long as it doesn't fuel inflation and remains orderly, says Calyon. The bank points to the "positive contribution to growth from net trade and the fact that (a weaker USD) will at least act to mitigate some of the downdraft from the housing market on growth." Thus, the bank adds, there is probably the same scope for disappointment over this G7 meeting as there has been before.

  • #35,991
  • Oct 18, 2007 2:58am Oct 18, 2007 2:58am
Quoting Moe
here's the spreads i get from o.d.l. sercurities, they don't widen during news and they pay intrest on account balance.

eur/usd-2
usd/jpy-2
eur/gbp-2
eur/chf-2
gbp/usd-3
aud/usd-3
nzd/usd-3
usd/cad-3
eur/jpy-3
chf/jpy-4
gbp/jpy-6
gbp/chf-6
gbp/cad-6
aud/jpy-7
nzd/jpy-7
I used ODL sbefore, not a bad one
  • #35,992
  • Oct 18, 2007 3:00am Oct 18, 2007 3:00am
Quoting Malaysia
Broke the resistance line of the Triangle already... and then tumble down inside the Triangle again. Seems like everybody is waiting for the news at 4:30pm Malaysian time. Gbp retail sales forcasted to be lower than before meaning weakening the Pound. Any decision is wise to be made after the announcement. Right now... by right I should go long already because of the strong trust of the candle breaking the resistance of the Triangle... but then, on the fundamental side.... forcasted to be bearish. As for me, I wait until the news release.
For me it didn't broke the line. I consider a break in the line if a full candle has broke the line as half of candle like it is now could be a false spike and even then i wait for a confirmation, must be sure. But like u said news will point us the direction, i hope in a clear manner.
Risk Less in the next transaction after a Win.
  • #35,993
  • Oct 18, 2007 3:04am Oct 18, 2007 3:04am
Too Risky
Attached Image (click to enlarge)
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  • #35,994
  • Oct 18, 2007 3:07am Oct 18, 2007 3:07am
Bears putting up a good fight but i think this is what's happening now:
Attached Image
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  • #35,995
  • Oct 18, 2007 3:12am Oct 18, 2007 3:12am
Quoting madalin
For me it didn't broke the line. I consider a break in the line if a full candle has broke the line as half of candle like it is now could be a false spike and even then i wait for a confirmation, must be sure. But like u said news will point us the direction, i hope in a clear manner.
Cheers mate for correcting me Yeah you are right... should wait for the confirmation and wait until the candle really pass through the line. I was just a spike. The line is like a magnet at the moment though Expecting some real breakout?
  • #35,996
  • Oct 18, 2007 3:15am Oct 18, 2007 3:15am
Posible Ronald, depend on the news...hope it goes up
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  • #35,997
  • Oct 18, 2007 3:18am Oct 18, 2007 3:18am
Morning all...
Interesting price action during Asia... Euro has broken out from its consolidation and seems greenlighted to mid-43 (maybe 44?)

With this strong USD bearish play across the board, I will attempt a long after the news whatever the outcome. Hopefully GBP negative, to provide a better price...
  • #35,998
  • Oct 18, 2007 3:21am Oct 18, 2007 3:21am
Quoting cesarnc
Morning all...
Interesting price action during Asia... Euro has broken out from its consolidation and seems greenlighted to mid-43 (maybe 44?)

With this strong USD bearish play across the board, I will attempt a long after the news whatever the outcome. Hopefully GBP negative, to provide a better price...
If GBP Sales Indicator negative how it will provide a better price for long GU ?

8 min till the moment of truth
Risk Less in the next transaction after a Win.
  • #35,999
  • Oct 18, 2007 3:22am Oct 18, 2007 3:22am
Quoting cesarnc
Morning all...
Interesting price action during Asia... Euro has broken out from its consolidation and seems greenlighted to mid-43 (maybe 44?)

With this strong USD bearish play across the board, I will attempt a long after the news whatever the outcome. Hopefully GBP negative, to provide a better price...

i hope you're right cesar,
  • #36,000
  • Oct 18, 2007 3:23am Oct 18, 2007 3:23am
Quoting madalin
If GBP Sales Indicator negative how it will provide a better price for long GU ?

8 min till the moment of truth
If news comes negative, GU is likely to spike down
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