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Cable Update (GBPUSD)

  • #38,621
  • Nov 5, 2007 6:20am Nov 5, 2007 6:20am
Quoting acahje
confius... trailing stop???
nah not really the trailing stop worked against me some times in the short term and since I just started using the long term trading I prefer not using it immediately.

I'll probably use it later though.
:
Thanx any way.
  • #38,622
  • Nov 5, 2007 6:25am Nov 5, 2007 6:25am
We may be seeing the beginning of a correction like the one we saw on July 24. Funnymentals and techies are aligned. WE SHALL SEE !!!!!!!!!!
For he that would be deceived, let him.
  • #38,623
  • Nov 5, 2007 6:31am Nov 5, 2007 6:31am
Might be wise to let cable cool off a little bit...
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  • #38,624
  • Nov 5, 2007 6:38am Nov 5, 2007 6:38am
"cable retreats mildly today following broad based recovery in dollar. But still, further rally is expected as long as 2.0751 support holds. Next short term upside target will be resistance zone of 2.1 psychological resistance and 161.8% projection of 1.9652 to 2.0365 from 1.9879 at 2.0133. On the downside, below 2.0751 will indicates a short term top is possibly formed on bearish divergence condition in 4 hours MACD and RSI and bring consolidation. But downside should be contained above 2.0538 resistance turned support and bring another rise."
  • #38,625
  • Nov 5, 2007 6:41am Nov 5, 2007 6:41am
Quoting pinchapip
We may be seeing the beginning of a correction like the one we saw on July 24. Funnymentals and techies are aligned. WE SHALL SEE !!!!!!!!!!
Might be but it all depends on the USD news 2 hours from now.
I will probably wait till then to make my decision.
  • #38,626
  • Edited 7:09am Nov 5, 2007 6:59am | Edited 7:09am
Quoting Ayham
Might be but it all depends on the USD news 2 hours from now.
I will probably wait till then to make my decision.
Indeed.

But I think from now on the dollar will get a quick break. The end of the year will force people to spend a little more, which should boost some indicators and keep uncle Ben (also know as "the Blade") out of the scene. Also the next round of ARMs will flip only by February so a correction now is plausible.
For he that would be deceived, let him.
  • #38,627
  • Nov 5, 2007 7:16am Nov 5, 2007 7:16am
i agree. i remember last year before thanksgiving, when e-u took off like an aeroplane...
the winter holidays are coming, everybody needs money.

Quoting pinchapip
Indeed.

But I think from now on the dollar will get a quick break. The end of the year will force people to spend a little more, which should boost some indicators and keep uncle Ben (also know as "the Blade") out of the scene. Also the next round of ARMs will flip only by February so a correction now is plausible.
Nihil Sine Deo.
  • #38,628
  • Nov 5, 2007 7:50am Nov 5, 2007 7:50am
Can anyone help me out with the corrolation between FTSE & GPBUSD. Would I be correct in saying that if FTSE is down it tend to drag the ££ down as well? can anoyone post a chart overlaying them please

Thanks

kathy
  • #38,629
  • Nov 5, 2007 8:04am Nov 5, 2007 8:04am
Mishkin: Downside Growth Risk `Balanced` By Inflation Risk
Mishkin: Inflation Still Risk, Will Be Monitored `Carefully`
Mishkin: FOMC `Could Have` Left Rates Steady Last Week
Mishkin: Saw Costs Of Waiting On Rates Outweighing Benefits
Mishkin: Oct Rate Cut Can Be Removed If Deemed Unnecessary
Mishkin: Rate Cuts May Be `Insurance` Against Econ Risks
Mishkin: `Comforted` By Lack Of Housing Spillovers To Econ
Fed's Mishkin: Rate Cuts `Significantly` Reduced Econ Risks
  • #38,630
  • Nov 5, 2007 8:21am Nov 5, 2007 8:21am
Ronald Open his special arrow thread about GBPUSD

  • #38,631
  • Nov 5, 2007 8:24am Nov 5, 2007 8:24am
Hey two fundies coming out in less than an hour. Do you guys reckon an A*
May the Pips be with You Let's Pimp some Pips!
  • #38,632
  • Nov 5, 2007 8:46am Nov 5, 2007 8:46am
GBP will cooling down to 2.06xx again I think, if it can break 2.0751
{Promotion Removed}
  • #38,633
  • Nov 5, 2007 9:07am Nov 5, 2007 9:07am
ISM's non-manufacturing index increased to 55.8 in Oct from 54.8 in Sept. New orders were 55.7 from 53.4, employment was 51.8 compared to 52.7 and prices were 63.5 versus 66.1. On the whole, this is a stronger than expected report showing a strong headline and an increase in orders. The lower employment index can be shrugged off because we've already had the jobs report showing good non-mfg jobs. Prices are a problem, probably because of oil.
  • #38,634
  • Nov 5, 2007 9:20am Nov 5, 2007 9:20am
2.09 stood firm, seems to be a lot of resistance there
  • #38,635
  • Nov 5, 2007 9:39am Nov 5, 2007 9:39am
Forget coffee... We'd better off going vacation during the next 2 years lol.

"Credit markets face another $250 billion in defaults over the next two years, indicating that the worst of the subprime crisis is yet to come, the head of the world's biggest bond fund told CNBC on Monday."
  • #38,636
  • Nov 5, 2007 9:39am Nov 5, 2007 9:39am
Quoting peterM
2.09 stood firm, seems to be a lot of resistance there
Do you think cable will test it again or retrack to 600-650?
  • #38,637
  • Nov 5, 2007 9:46am Nov 5, 2007 9:46am
Quoting cesarnc
Forget coffee... We'd better off going vacation during the next 2 years lol.

"Credit markets face another $250 billion in defaults over the next two years, indicating that the worst of the subprime crisis is yet to come, the head of the world's biggest bond fund told CNBC on Monday."
America is going to be such a cheap country for us british folk :-)
  • #38,638
  • Nov 5, 2007 9:47am Nov 5, 2007 9:47am
Quoting Runway Trade
Do you think cable will test it again or retrack to 600-650?
It's possible, but I have no idea.
  • #38,639
  • Nov 5, 2007 9:56am Nov 5, 2007 9:56am
Quoting peterM
It's possible, but I have no idea.
The only thing I know for sure here is: if I was long this morning, cable would be at 2.0200 by now.

  • #38,640
  • Nov 5, 2007 9:57am Nov 5, 2007 9:57am
not today. there is a support area around 2.0770; if this is cleared (and by this i mean a break below 2.0750), we might see 2.0650.

Quoting Runway Trade
Do you think cable will test it again or retrack to 600-650?
Nihil Sine Deo.
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