Cable Update (GBPUSD)

what strategy do you use? if I can ask of course

Strategy:[email protected] Stop profit hit at 2.0700 as slide continues. The 21-day MA at 2.0670 has also been breached but with hourly studies close to oversold levels we are wary of rebound action intraday and hold off selling the break for now. Daily trend studies tick south again. (AS) 11:25 GMT


what dailyfx people are saying

IF this cable hit my BE.. we might see cable down to 2.0540 and the next day also might see 2.0800 back

Wow, what a fall....

Now comes US news, which can turn this into one hell of a mess

My strategy is

1. brain
2. confidence
3.patient
4. believe in ourself
5. money managemt
6. trendline & price action is the most important for this strategy



Is that enough you want to know? Sometimes this strategy also give me false signal.. no system 100% perfect.

squeezed 2 shorts at .0835 n .0824 in the last minute. got out at .0738 n .0700 ... phew.. other pairs not doing so well tho.. should have just stuck with GU.

well it is obvious I miss something

UK ECON: Inflation Report - Inflation At target In 2 Years London
November 14
The Bank of England gave its strongest hint yet that UK borrowing costs
will be falling shortly when it revealed that inflation is likely to be at
around its target even if interest rates fall as the market expects.
In its quarterly Inflation Report, the BoE said the annual rate of CPI
inflation is likely to rise to around 2.3 pct by mid-2008, partly because oil
prices are not far off reaching 100 usd a barrel, before easing back towards the
target on the two-year forecasting horizon as growth moderates to below its
long-run average.
Its forecasts are based on the markets' interest rate expectations, which
see the benchmark Bank Rate falling to an average of 5.4 pct in mid-2008 and 5.2
pct by early 2009 and 5.1 pct by the end of 2009.
The rate-setting Monetary Policy Committee, which signed off on these
projections, has kept its benchmark rate unchanged at 5.75 pct since August,
following five quarter point increases over the previous year.
In the near-term, the BoE said CPI inflation is likely to rise above the
2.00 pct target next year as a result of higher energy price inflation and the
depreciation of sterling, which has been falling on a trade-weighted despite its
surge to 26-year highs against the dollar.
Inflation then eases back as pressures on capacity moderate, settling at the
target in the medium-term even though pay pressures are likely to increase more
rapidly than they have over the last three years, the BoE added. The inflation
profile is somewhat higher than in the August report, it said.
If rates were left unchanged over the two-year forecasting horizon, the BoE
is projecting that there would be little difference in the near-term than at
market rates but that it would fall to around 1.75 pct at the end of the period.
On growth, the BoE expects a slowdown to below the long-term annual average
of just above 2.5 pct as consumer spending slows to below its average over the
last ten years following the credit crunch. However, the BoE said consumer
spending should recover in 2009 as the Bank Rate falls. "The financial market
turbulence is likely to bear down on consumer spending growth," the BoE said.
Another implication of the recent disruption in financial markets is tighter
monetary conditions will increase home loan rates and reduced demand for secured
borrowing. Business investment is also expected to decelerate in the wake of
past increases in interest rates, tighter conditions in credit markets and
heightened uncertainty. By early next year, the BoE expects GDP to be growing at
just above 2.00 pct before recovering as lower rates and the falling pound work
through and uncertainty dissipates.
The BoE added that the slowing in the first year of the projection is a
little sharper than the one it published in August but the subsequent pick-up is
correspondingly stronger. If rates were left unchanged, growth falls to just
2.00 pct before recovering slightly to around 2.75 pct.
As usual, the BoE said there are substantial uncertainties -- more than in
August -- around these projections, in particular the implications of the recent
financial turmoil on credit conditions, asset prices and spending. Other
uncertainties include the prospects for world growth and prices and the
evolution of wages and inflation expectations. Overall, the BoE said the risks
to growth are on the downside while those on inflation are balanced.
It stressed that the balance of risks to growth are likely to increase
somewhat over time, reflecting "the possibility of more severe fallout from the
current financial turbulence and the vulnerability of markets to further
shocks". In addition, it noted that there is a range of views on the MPC on both
the central projection and the balance of risks.
Commenting on its recent rate-setting meeting when rates were left
unchanged, the MPC said there were "considerable uncertainties" relating both to
the impact of recent developments in financial markets and to the consequences
of recent rise in energy prices. Courtesy of Thomson Financial News

Dam, thats big!

NEWS: King says "I Have Not Considered Resigning" - Reuters This was the closing comment of the news conference hosted by BoE Governor King to follow the 10:30GMT publication of the quarterly BoE inflation report hinting at a lower UK base rate ahead ( More). King"s current tenure as BoE Governor ends on June 30 next year. A decision on King"s reappointment or replacement will be made in the New Year

I'm out hit my BE.. I'm going to jump this trade if i see any oppournities to long later..

Hopefullly a few of us get that chance...

I retry with mini lot long again from 2.0644

I see very strong support at 2.0643

What time frame do u draw your trendlines in?

Stoploss at BE now. (this gonna be my last trade for today)

1 min

like this then

thanks 4 reply

I wasn't expecting the boe to say that... cable flew down on the news!

I'm hoping for long but now look like resistance up there.

im NEVER trading just before a news reports again! Thats what turned a comfortable winning trade into a loss!

Dam the BOE

Ive truly learnt my lesson!!!!