Cable Update (GBPUSD)

At least hijackers are not aiming this thread anymore. The good thing about being #2 lol

Auslanco posters/viewers mostly newbies. Cable update mostly the expert traders
i'm just spectator.

Gentlemen tomorrow is the last showdown and i'm short from 2.0663 and TP on 2.0287.
I'll see tomorrow depending on the news.
See you then.
Bye

GBP/USD: Buy Stops Tipped Above 2.0675, Option Barriers at 2.07 London, October 30. Touted buy stops above 2.0675 could exert fresh upward pressure on cable towards 2.0700 if tripped. Exotic option barriers reside at 2.0700, with offers tipped ahead of the figure. Further buy stops are pegged above 2.0700.
Cable rose by more than a cent to a new 26-year peak a pip shy of 2.0675 during the London morning, amid talk of good size GBP buying from a Middle Eastern name. The cumulative size of that Middle Eastern buying, said to have been undertaken via a US investment house, was estimated at GBP 2bn.
Helping underpin GBP/USD is the expectation that the US Federal Funds rate will be cut by 25bp to 4.5% tomorrow (Wednesday). The UK base rate is expected to be held at 5.75% next week (Nov 8), following MPC member Kate Barker"s questioning of the need for a UK rate cut (Guernsey Press & Star website).
October"s US consumer confidence index will be disclosed at 14:00GMT. A fall to 99.0, from 99.8 in September, is forecast. BoE MPC ultra-dove David Blanchflower is slated to speak at 18:00GMT

I have nothing to post, no jokes, no positions, NOTHING.

GMT October 30th GBP/USD UK clearer, US primes and Middle East all noted buying on good volume. Short-term accounts looking to trigger large stops above 2.0675 for a run toward 2.0700-50. MFS

We will sure have tomora

The B.S thread should get some posts tomorow as well

LOL... damn right... specially if Fed cuts and cable falls..

"What happened? What happened? F#$@% market"

Dollar getting another kick in its privates. Consumer confidence down...

No wonder, oil 93? LOL...

here we go, we realy need this thing to break 700 then it's all bad from there.

GBP/USD: Rises to New 26-Year Top on sub-forecast US Confidence London, October 30. Cable has ascended to a new 26-year peak of 2.0685 on the back of October"s softer-than-expected US consumer confidence gauge. This fell to a two- year low of 95.6, from 99.8 in September. A much more modest decline to 99.0 was expected.
Offers are touted ahead of 2.0700--a level at which exotic option barriers reportedly reside

Dow holding on for dear life @ 13800

For now!!!!!!

We can almost smell the fear at 0700

look at the left side of your gbp chart there's no history chart with the same price right ? except in 1980 gbp will sky rocket

holding my long and mabe changing my t/p from 750 to higher, tomorow can be dangerous.

Good news is bad news
Bad news is good news
No news is B.S news


Either way I dont feel tommorows news will change the direction we are in now. Yes on the 15min chart it will spike up then down then back up again, but on the daily it will only be a long wick with a small body but still showing dollar weakness. But then again I am always wrong so be prepared to short everything in sight. Majority of people are looking for places to short, the rest of us are looking for places to add to our longs continuing the long term trends. Thats why the trend is not your friend is because everybody is looking for when it will be over and not when it will continue.

finally we had a nice break through :-)

I am thinking the trend may be up until the next stock correction. There doesn't seem much to save the dollar at the moment! Any thoughts?

See above