Cable Update (GBPUSD)

the only thing that will save your shorts is DOW neg. if it stays within its current levels we will stay in a 20 pip range

ok guys im out.. see you all next month at... 2.0000 or 2.1300

we die without you then

oh ya... my last word...

DOWN CABLE DOWN !!

saying that when I am long is totally out of order

u goin for a month quick..??

I'm not going anywhere... i'm still here watching you guys.
I just out of trade until next month means next week 3/12.

LOL!

GBP/USD: Better Bid in US Session; Aided by Equity Rebound New York, November 28. Cable has rebounded sharply thus far in the US session with a plethora of factors seen driving price action including broad based USD selling following the greenback"s overnight gains, weak US data, and stronger equities on the back of this morning"s comments out from Fed Kohn"s dovish speak. However, decent sized selling is seen by 2.0700 with many longer-term funds still focused on the deteriorating state of the UK economy and heightened global risk aversion. Also seen weighing on the pair is the overnight news that China is beginning to feel the pressure from the rest of the world and may now allow for faster appreciation of exchange rates thereby relieving the burden of those countries that have borne the brunt of the US dollar decline which includes the UK.
The GBP is however better bid on the crosses today with sharp gains seen against the Eur, Swissy and Yen. This has been attributed to the renewed global risk appetite and demand for the higher yielding currencies along with the recent comments out from the BoE"s Lomax and Sentance that have somewhat dampened dovish expectations.
Technically, the current rebound has now pushed through the hourly downtrend line at 2.0680 and back above the latest 2.0715. The key level to watch becomes 2.0765 with a break of the latter opening a retest of the 2.0845 14Nov highs which coincide with the 61.8% retrace off of the 2.1160-2.0355 move. Decent sized sell offers are touted by 2.0845 which should ultimately cap.

down cable down:

The light at the end of the tunnel is often a train...

I am short at 2.07 and riding the long waves but reducing at 2.06 ish

if it goes to 2.06 i will buy a new computer to add to my existing pack of 3. If it goes to 2.10 i will buy me a truck load of USD with my GBP and spend it on a boat

hows about that for a no lose situation

wanna buy some enron shares ?

short @2.0715

Tommorow important news Seems good to Dollar .... is there another opinion


GBP Nationwide House Prices m/m
GBP MPC Treasury Committee Hearings
USD GDP Annualized q/q (r)
USD New Home Sales

You know what, I am really not that sure this thing is headed south. I see chances of some serious spikes in the upside.....

like 2.0850

just flick the 2 year chart up and then re-evaluate

any shorts have to be very short term until that 2 year chart changes

Wow, I just realized that if you look at the daily chart, we have almost a perfect pennant formation indicating a breakout in the upside.

Can't post charts from work...sorry

Agree. Some serious rate cut sentiment kicked in today with Fed's statement. And that's a bet for December.

Not discussing whether or not there will be a cut. I'm saying this is what is going on in the market TODAY.

It just broke the pennant to the upside. I could be wrong but this might be the beginning of a strong uptrend movement.....

Wow, ok, I wish I was always this right