Cable Update (GBPUSD)

so im short now...with a long term long position.

I think soros_jr have shared this "secret information" here for free.. its just that everybody makes a joke out of him.. remember the mpst famous quotes here.. "2.1 sooner than u expected"?? :

But then again, it reached .900 and it could be that it was just a little test before breaking it, aiming to the target everybody talks about: 2.1000

2.1000 follows the theory of a big major channel on the daily chart. On pfxglobal.com they keep mentioning that...

Our 2.0885 long remains intact, the market has bounced off 2.0782 (Monday"s low) to break through 2.0898 (last Friday"s high). Daily momentum points north, hence the overall focus on the upside. We expect the market to accelerate gains towards 2.1120 (30-month upper bollinger band). 2.0804 (today"s session low) supports the recovery

Soros Jr makes a joke of himself.

Anyone can pull numbers out of the a**.

Lol.. i know.. but i must admit that he got some balls to dare to show up again and giving those "amazing" calls.. "2.1 sooner than u expected".. and cable dives.. show up again calling "targeting 1.98". cable sky rocket.. Cable (or daddy?) must really loves him.

Well, a man like Soros (the Sr., please) doesn't trade the M15 overbought, of course. I think he scalps in the weekly.

Anyways, if he's to call a shot here it's surely euro @ $2.50 or $1.00

By the tone he used, I stay with $2.50.

EG fixed at 0.7 we will have it cable $3.57

See you in 2025!

GBP/USD: Fresh Multi-Year Highs for Cable Above 2.0900 New York, November 6. Fresh multi-year highs for Cable in New York with the pair driving through 2.0900 to 2.0905 ahead of the latest minor pullback. Monday"s 2.0750 support has managed to hold resulting in today"s bullish price action. The strength in Cable has been generated by broad based USD weakness and negative sentiment towards the greenback with investors growing increasingly concerned that the Fed is falling seriously behind the curve. Recent comments by the Fed"s Mishkin highlight these concerns with the Fed member discussing that the Fed must be ready to remove recent monetary accommodation.
On the other side of the coin however, recent data out of the UK has come in weak with NIESR estimating GDP growth of 0.7% 3m/3m in October down from an upwardly revised 0.8% 3m/3m reading for September. The think-tank went on to say that Monday"s weaker than expected industrial production figures which showed weaker manufacturing output than expected was the cause for the downward revision in its growth estimate. Additionally, October BRC retail sales data was unimpressive recording its weakest growth in almost a year at 1.0%.
Technically, the market has bounced off 2.0782 (Monday"s low) to establish fresh multi-year highs above 2.0900. Daily momentum points north, which keeps the overall focus on the upside. An eventual break above 2.0905 will accelerate gains towards 2.1120 (30-month upper bollinger band). 2.0804 (today"s session low) provides interim support

I am still short from 20891 and I have no profit target yet. I believe that we might continue sliding to around 20845 where we might find some resistance.

Good evening

Support you might mean?

Up or down I really don't care ...JUST MOVE CABLE !!!!!!!!!!!!!!!

yeah to support a bounce back upwards
yeah a resistance to the continued fall

THE DIFFERENCE IS THE SIMILARITY!

I think support is at 2.0850....it bounced back as it touched it and now it is flirting with it....

That is possible, I see what you mean. Lets see if it breaks it then!!

Getting close to it again...let's see if it breaks it...9 minutes to a new hourly candle, this one will be the fourth red in a row, we can now expect a green one forming....

I think it will break it to 845 then a green candle up......but lets wait and see

tough one to break....

Tue
Nov 6 1:40pm USDhttp://www.forexfactory.com/images/m...act_medium.gifFed Chairman Bernanke Speaks
http://www.forexfactory.com/images/m...dar_detail.gif

well, we all know what he is (not) going to say....

http://www.ambrosiasw.com/%7Eandrew/funny/bullshit.jpg