Cable Update (GBPUSD)

LOL

I've just received a fax from Mr. Ben Bernanke. He advises not to get confused with current market volatility. According to him, market won't be able to cross the chart limits. So in other words, winners should trade within their charts.

What do you mean???
Can you explain further?!
:

Hi alll

What do u think short is safe now or not

i have no idea... i think if next 4hr candle open below 2.0790 i'll short

GBPUSD

The GBP achieved the 2.0707 level and then placed fast acceleration with stop price action as the market removed the highs. We are expecting that as we have taken a major cross point as we have in the Euro that this market has now signalled the bullish intent of the market and we are now setting a new topside target of 2.1628 as achievable.

Having placed that as the forward view, it is common on such major breakouts that the markets have to retrace and see correction to the break point, The quicker this is achieved the stronger the bull actually is within the market. We do expect that the bulls could be tested back to the 2.0696 level and potentially to 2.0555 as this is the major break point. Even in corrections like this it should be remembered that the bull is still very strong and this is a correctional move to the market and not a trend reversal signal. This is the position that normally changes the bulls to bears at the wrong moment. Therefore, the house view remains that corrections to the downside are buying opportunities and not selling ones.

For the bears they must lock the current high out for the moment and try and push the market through the 2.0739 level that will then open the 2.0692 level to be attempted with downside potential to the 2.0638 supports.

The bulls would be better served with a correction off the current highs that placed a deep correction back to the 2.0638 level as this would strength the bulls further. We do feel that this has potential to be a short term high through. The bulls must now press through the 2.0821 high and this has the potential to move into further topside stop price action that targets 2.0904. The bulls must take 2.0788 to signal the risk to taking the highs.

The house view remains bullish with a hope that the bull is retested before the next accelerated move. However, we believe the market is now in an acceleration phase and the topside is at severe risk. Weakness should be used for entry into the market.

Dow -190 in 15 minutes on concerns over Citi.

short again on the move through 0800

GBP/USD: Weighed Down by GBP/JPY Sales, US ISM Index Looming London, November 1. GBP/JPY selling, re: an increase in risk aversion, is being blamed for cable"s half-cent retreat from a new 26-year high of 2.0852. A NY Times article headlined "Analyst Raises Doubts About Citigroup Dividend" has been a major factor in that risk aversion rise.
October"s US ISM manufacturing index will be disclosed at 14:00GMT. It is forecast at 51.8, from 54.2 previously.
The BoE MPC is expected to keep the UK base rate at 5.75% next week (Nov 8) and next month (Dec 6), thereby maintaining the key 125bp UK/US interest rate spread into the December 11 FOMC meeting. The first MPC meeting of 2008 takes place on January 9/10. The first FOMC meeting of 2008 takes place on January 29/30

Carries going to HELL...in the Credit-Suisse basket !!!!!!!!

Whenever it goes down, it gets quiet in here.....

What you trying to say, if you got something to say then say it.

Easy tiger, take a chill pill and relax...life is good...

well don't come in here running your keyboard.

look like the USD getting stronger..

Seriously man, you gotta relax. It was just a joke, geez...somebody woke up from the wrong side of the bed today....

All indexes approachng -2%

Dow -250 LOL....

C´mon dollar, show us some diginity here will'ya? :

...kiwi is getting hammered big time!

I doubt it...the only thing that can save the $ is tomorrow's payroll #s....otherwise...but I still believe in a major correction coming soon, this levels are way over inflated......

didn't look like a joke to me, but il let it go.