Cable Update (GBPUSD)

Exactly

I meant, when the "big movers" have an agenda.

I think the agenda with thinner and thinner liquidity, as the holidays approach, is to push euro up until Trichet stops moaning and starts screaming :

that's a good idea.. making an agenda of any event in spite news being excluded on the movement is really something for a trader. since it is useful for reminder in the future, why don't we invest some of our time just to write on our notes or agenda so we could predict future moves.

I guess I wasn't clear. I meant the "big players", when they have an agenda, they move the market accondingly, while we, poor crumbs-hungry rats, try to figure it out

okay >.>

GO LONG GO LONG!!!! ALL THE WAY!!! =O

Closed a nice 113pips today.. ^^ Looks good to go long with the cable..

yaa... just becareful with your long.

Long all the way... later, short all the way..

I'm long right now....

good luck...

good luck, I'm out right now, better entry would be propably after FOMC Meeting Minutes...

me too.. I dont think there will be too many suprises later, but you never know.

Keep an eye on the Dollar Index it's looking to test the all time low of 74.978

GBP/USD: Fresh Bout of Negative USD Sentiment Exaggerated New York, November 20. Finally some impressive data out from the UK overnight with the CBI industrial trends report revealing a sharp improvement in manufacturing conditions, with the headline manufacturing order book balance coming in at +8 in November versus the -6 showing in the previous month. However, a continued deterioration within the credit markets and weaker economic outlook from the BoE should keep market participants weary of additional GBP strength with the broader UK economy showing significant signs of a slowdown.
It is clear that today"s Cable strength is by no means a function of the better than expected manufacturing data as reflected in the EUR/GBP cross rate which is still higher on the day. The clear driver of today"s markets has been the renewed bout of negative USD sentiment to drive the Euro and Swissy to fresh all-time highs. Rumors of an emergency Fed cut early on triggered some USD selling while concerns over the state of the GCC economies and their commitment to the USD was also in the headlines. Finally, the weaker than expected US data along with the bad news out from Freddie Mac and Fannie May were responsible for the most recent bout of USD selling.
However, we view the both the likelihood of an unexpected Fed cut and reval of the GCCs as highly improbably and as such, see the recent price action in the USD as being exaggerated. We continue to see the US at present having to bear the brunt of the slowdown in the global economy with the Fed ahead of the curve and in a rate cut mode, while the remainder of the world is behind the curve in either a rate hike or on hold rate approach. This has exacerbated the situation for the Greenback, but as the rest of the world begins to slow, which we contend is in the process of happening (as evidenced by slowdowns in the UK and Canada), the USD will enter a period of significant recovery.
Technically, the current rally is classed as corrective with a lower top now sought below 2.0845, ideally by 2.0650-2.0700 ahead of a fresh downside extension back through 2.0355. There is a significant amount of resistance in the 2.0650-2.0700 area with the 38.2% fib retrace off of the 2.1160-2.0355 coming in at 5.0650, and 10/20-Day SMAs just above at 2.0695. The 10-Day is also now crossing down below the 20-Day which is viewed as bearish.

It's that euro.. Apparently it makes up a big chunk of the dollar index.

still havent sold my uk house since april with 5 price reductions from the original estate agent recommended price...

2 viewers no offers

so yes i believe there is trouble brewing for john smith public

who cares though because the interest rate differentials are what counts

i am selling my gbp and buying usd at anything over 2.06 though

Secrets That Sell
http://www.hgtv.com/hgtv/shows_hstsl..._29117,00.html

Designed To Sell
http://www.hgtv.com/hgtv/shows_hdts/..._15857,00.html

Many thanks but I didn't learn American at school so I don't understand a word of it !

example :
'Think licks from Rex The Bulldog will help generate more offers.'

I am already confused as my US car insurer says that something in my insurance is 'sunsetting'

I thought the sunset was a noun.

I would stand more chance of understanding things in Cambodia I reckon

oh well I will make a nice cup of tea then everything will be fine

Insurance people can (and do) make up any words they please!

FOREX: Venezuela Agrees with Iran on Abandoning USD San Francisco, November 20. The French press notes this afternoon that in the wake of meetings with France's Sarkozy, Venezuela"s Chavez reiterates his support of Iran"s proposal to abandon the dollar for oil transactions in favor of a basket of currencies. Earlier this morning, Russia"s finance minister stated that Russian may sell its oil in roubles in five years. The comments are nothing new from Chavez who made similar comments on the weekend. He says that the basket could include the euro, the yen and "why not the bolivar."
The Saudis were firmly against the view on the weekend and were afraid that news of the discussion would only push the USD lower, and in fact, it has continued to weaken to new lows v. the EUR and CHF this week. This no doubt has emboldened Chavez and his agenda.

Minutes out of the oven:

"Fed Forecast for 2008: Lower Growth, Higher Unemployment And Reduced Inflation"

Betting time!

lower growth yep
high unemployment yep
lower inflation? Not if oil stays high and they keep cutting rates