Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#38,701
Nov 6, 2007 5:45am Nov 6, 2007 5:45am

venomdesignsUK
| Joined Nov 2006 | Status: Cumulative pips=cumulative p&l | 64 Posts

I think cable is going to form a new high for the day then a drop.

Any other ideas?

#38,702
Nov 6, 2007 5:54am Nov 6, 2007 5:54am

tim1234
| Joined Oct 2007 | Status: Trader | 313 Posts

GMT November 6 Touted sell interest ahead of 2.0900, inclusive of
option-related supply, is helping to keep a lid on cable. 2.0885 was today"s
European morning high. 2.0897 was last Friday"s 26-year peak. 2.0896 was
yesterday"s top (pre-UK service sector PMI & IP data).
There is talk of Central Bank demand for GBP/USD "on every dip". Central
Bank demand for GBP was touted as a factor in cable"s lift from today"s Asian
session intra-day low of 2.0804. Today"s Asian session high was 2.0856.
GBP/USD has underperformed EUR/USD (and CHF/USD) thus far today, due to
disappointing UK retail sales and GDP data. Annualized like-for-like UK retail
sales growth slowed to 1.0% in October, from 3.0% in September, according to the
BRC. UK economic growth slowed to 0.7% in the three months to October, from 0.8%
in the three months to September, according to NIESR. The soft numbers underpin
the expectation that the next UK base rate move will be down.
The 2.09 times cover at today"s 2030 Gilt auction was the strongest for a
long auction since January, according to a UK clearer

#38,703
Nov 6, 2007 5:55am Nov 6, 2007 5:55am

pinchapip
| Membership Revoked | Joined Jun 2007 | 745 Posts

Nice volatility across the carries !!!!!!!!!!!!

For he that would be deceived, let him.

#38,704
Nov 6, 2007 6:13am Nov 6, 2007 6:13am

Qu|cksilver
Joined Sep 2006 | Status: Trader | 2,163 Posts

Quoting venomdesignsUK

Disliked

I think cable is going to form a new high for the day then a drop.

Any other ideas?

Ignored

Really?
i feel the bears now...
i know everyone expecting 2.1..
whatever it is.. trade what you see not trade what you feel.

p/s: i might be 100% wrong... i'm just a newbie

"Invest With The Insiders, Not The Masses" George Muzea

#38,705
Nov 6, 2007 6:32am Nov 6, 2007 6:32am

venomdesignsUK
| Joined Nov 2006 | Status: Cumulative pips=cumulative p&l | 64 Posts

Quoting Qu|cksilver

Disliked

Really?
i feel the bears now...
i know everyone expecting 2.1..
whatever it is.. trade what you see not trade what you feel.

p/s: i might be 100% wrong... i'm just a newbie

Ignored

I seizing trading for the day, I have already made 30pips so i think i should finish for the day. I cant read the market!

Have a nice day all

#38,706
Nov 6, 2007 6:42am Nov 6, 2007 6:42am

Ayham
| Joined Aug 2007 | Status: Trader | 65 Posts

Quoting Qu|cksilver

Disliked

Really?
i feel the bears now...
i know everyone expecting 2.1..
whatever it is.. trade what you see not trade what you feel.

p/s: i might be 100% wrong... i'm just a newbie

Ignored

Yeah me too.
Looks like the bears are waking up now.

#38,707
Nov 6, 2007 6:43am Nov 6, 2007 6:43am

dswk
Joined Feb 2006 | Status: Pips Pod... | 1,611 Posts

Quoting Ayham

Disliked

Yeah me too.
Looks like the bears are waking up now.

Ignored

To help bulls ?

#38,708
Nov 6, 2007 7:00am Nov 6, 2007 7:00am

Ayham
| Joined Aug 2007 | Status: Trader | 65 Posts

Quoting dswk

Disliked

To help bulls ?

Ignored

May be but better be careful.

#38,709
Nov 6, 2007 7:14am Nov 6, 2007 7:14am

vlazaf
| Joined Feb 2006 | Status: Trader | 104 Posts

Quoting Scrat

Disliked

i seriously think we should open a g-chf thread, i made a lot of pips lately with this pair.

Ignored

Just bought this pair under 2.3900 - tight stops on this contra trade.

#38,710
Nov 6, 2007 7:28am Nov 6, 2007 7:28am

cesarnc
Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts

Billionaire investor George Soros forecast on Monday that the U.S. economy is "on the verge of a very serious economic correction" after decades of overspending."We have borrowed an awful lot of money and now the bill is oming to us," he said during a lecture at the New York University, also adding that the war on terror "has thrown America out of the rails."
http://media.cnbc.com/j/CNBC/Section...f,standard.jpgAsked whether a recession was inevitable, Soros said: "I think we are definitely in for a slowdown that I think will be a bigger slowdown than (Fed Chairman Ben) Bernanke is seeing."
Famous for his speculative attack on the Bank of England that made him more than $1 billion, Soros declined to nominate which currencies are more vulnerable currently. He also declined to comment specifically on the dollar.

"I know exactly where the currencies are going to but I'm not going to tell that to you," he told the audience.

I think we should pay serious cash to soros_jr to get THAT INFORMATION!!!!

Coz I have no idea where we are going to

#38,711
Nov 6, 2007 7:35am Nov 6, 2007 7:35am

DutchTrader
| Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts

Quoting cesarnc

Disliked

Billionaire investor George Soros forecast on Monday that the U.S. economy is "on the verge of a very serious economic correction" after decades of overspending."We have borrowed an awful lot of money and now the bill is oming to us," he said during a lecture at the New York University, also adding that the war on terror "has thrown America out of the rails."
http://media.cnbc.com/j/CNBC/Section...f,standard.jpgAsked whether a recession was inevitable, Soros said: "I think we are definitely in for a slowdown that I think will be a bigger slowdown than (Fed Chairman Ben) Bernanke is seeing."
Famous for his speculative attack on the Bank of England that made him more than $1 billion, Soros declined to nominate which currencies are more vulnerable currently. He also declined to comment specifically on the dollar.

"I know exactly where the currencies are going to but I'm not going to tell that to you," he told the audience.

I think we should pay serious cash to soros_jr to get THAT INFORMATION!!!!

Coz I have no idea where we are going to

Ignored

I think that the Aus/Nz/Asia are becoming more decoupled from the US then before, China is turning slowly into a huge consumer that will be able to pick up some slack from the US downturn. Just my .02 though

Patience + Humility + Study = Success

#38,712
Nov 6, 2007 7:49am Nov 6, 2007 7:49am

de123
Joined Sep 2006 | Status: Trader | 2,272 Posts

2.11 sooner then expected...

its just money

#38,713
Nov 6, 2007 7:55am Nov 6, 2007 7:55am

cesarnc
Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts

Quoting de123

Disliked

2.11 sooner then expected...

Ignored

BTW, I'm pretty sure that if soros_sr had told what he (said he) knows, there would be a MASSIVE FIGHT across this entire forum

From genius to senile we would have it all!

#38,714
Nov 6, 2007 7:55am Nov 6, 2007 7:55am

tim1234
| Joined Oct 2007 | Status: Trader | 313 Posts

GBP/USD: Pivoting 2.0880 Option Expiry Level London, November 6. A 2.0880 option strike rolls off at today"s 10am Eastern NY cut (15:00GMT). Cable is currently pivoting the strike level, as it consolidates intra-day gains from 2.0804 (Asian session base). Those intra-day gains have been aided by FX reserve manager demand for GBP.
Sterling sell interest, inclusive of option-related supply, is touted ahead of 2.0900. Exotic One Touch triggers are located at 2.0900, inclusive of slated expires for tomorrow week (Nov 14), Monday week (Nov 19) and month-end (Nov 30). 2.0885 was today"s European morning high. 2.0896 was yesterday"s peak (pre-UK service sector & IP data). 2.0897 was last Friday"s 26-year top. Buy stops are touted above 2.0900

#38,715
Nov 6, 2007 8:19am Nov 6, 2007 8:19am

tim1234
| Joined Oct 2007 | Status: Trader | 313 Posts

GBP/USD: 2.0900 Exotic Barriers Erased, New 26-Year Peak Scaled London, November 6. Cable has finally overcome option-related supply ahead of 2.0900, and scaled a new 26-year peak of 2.0907, on the back of fresh USD selling. The 2.0900 level held exotic option exposure. Another exotic barrier is located at 2.1000. A 2.0880 option strike rolls off at today"s 10am Eastern NY cut

#38,716
Nov 6, 2007 8:43am Nov 6, 2007 8:43am

venomdesignsUK
| Joined Nov 2006 | Status: Cumulative pips=cumulative p&l | 64 Posts

Quoting venomdesignsUK

Disliked

I think cable is going to form a new high for the day then a drop.

Any other ideas?

Ignored

I think its officially bears time. I expect GBP to fall to around 20861 before a major uptrend continues.

Just my thoughts.

#38,717
Nov 6, 2007 8:45am Nov 6, 2007 8:45am

tim1234
| Joined Oct 2007 | Status: Trader | 313 Posts

FX OPTIONS: No Change to Cable Vols as 2.09 Barriers Erased London, November 6. Spot Cable recently erased the much hyped 2.0900 barriers, although follow through limited and market since back to high 2.08"s. No change to vols on the move, which had been widely anticipated. 1m atmf paid 7.55 in early London and this level continues to cap the market (last 7.4/7.55). Contract includes the Dec UK MPC rate call, with the CB much more likely to cut rates then, than this month. 1yr atmf vol has stretched its latest gains however - the contract paid 7.1-7.15 - its highest level since early October. Next Barrier level for GBP at 2.0950.

#38,718
Nov 6, 2007 9:17am Nov 6, 2007 9:17am