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Cable Update (GBPUSD)

  • #42,441
  • Nov 30, 2007 10:54am Nov 30, 2007 10:54am
yes, very nice and cute baby, and very funny.
this kind of pictures are cool on this topic, because forex really having a lot of stress and scary, and this kind of funny pictures is good ...
  • #42,442
  • Nov 30, 2007 11:00am Nov 30, 2007 11:00am
Quoting mohsen57
i was lucky , i took a long on dip! about 540 area and then closed about 570, thanks gbp, you was this good to me
Yes that forex. Must be alert at all times esp. day trader.
The most important is to be patient and use our brain carefully not follow our emotions.

To be honest i have blown my account more than 10 times in the year 2004. I learn alot from my mistake. And doing mistakes makes me a better trader. not pro
"Invest With The Insiders, Not The Masses" George Muzea
  • #42,443
  • Nov 30, 2007 11:05am Nov 30, 2007 11:05am
i've been following this thread this week and am really enjoying u guyz chatter....great stuff.....quicksilver..dou ever sleep?
  • #42,444
  • Nov 30, 2007 11:07am Nov 30, 2007 11:07am
Quoting ybeidas
i've been following this thread this week and am really enjoying u guyz chatter....great stuff.....quicksilver..dou ever sleep?


usually during this time i already sleep but today i have to wait to close all my open position at lower price.

our time now 1.07am
"Invest With The Insiders, Not The Masses" George Muzea
  • #42,445
  • Nov 30, 2007 11:10am Nov 30, 2007 11:10am
hah...for me noon...and to work now...good weekend all, c ya next week...
regards
  • #42,446
  • Nov 30, 2007 11:12am Nov 30, 2007 11:12am
Guys, i have alot of trading ebooks willing to share with you all. If anyone intrested please PM me.
"Invest With The Insiders, Not The Masses" George Muzea
  • #42,447
  • Nov 30, 2007 11:13am Nov 30, 2007 11:13am
i short again @2.0583 and close @ 2.0553 = +30 pips

i'm out today with + 265 Pips
  • #42,448
  • Nov 30, 2007 11:14am Nov 30, 2007 11:14am
debooo.... down cable down...
"Invest With The Insiders, Not The Masses" George Muzea
  • #42,449
  • Nov 30, 2007 11:15am Nov 30, 2007 11:15am
Quoting deboooo2005
i short again @2.0583 and close @ 2.0553 = +30 pips

i'm out today with + 265 Pips
"Invest With The Insiders, Not The Masses" George Muzea
  • #42,450
  • Nov 30, 2007 11:27am Nov 30, 2007 11:27am
be careful, a usd sellof is expected in eur/usd at 1.4643. so a long around 2.0540 levels can be nice, of course not risking much of the account.

but probably you can make some bucks for drinking this weekend
  • #42,451
  • Nov 30, 2007 11:30am Nov 30, 2007 11:30am
down cable down
  • #42,452
  • Nov 30, 2007 11:32am Nov 30, 2007 11:32am
dont overreact guys, remember this phenomen is a correction and we have seen abysmal data coming from the usd, also they are expected to keep cutting rates underminig the value of usd, if the dollar appreciates too much is gonna hurt exports and dump the economy.

so be carefull.
  • #42,453
  • Nov 30, 2007 11:35am Nov 30, 2007 11:35am
i am going to sleep

i have about stop loss at 625 and now i am not going to close my lot

i have from 563 - lets see tommoorrow where the price will stop?

small lot but now i will keep that with next week!

sleeping now - come back with this :surprised
  • #42,454
  • Nov 30, 2007 11:40am Nov 30, 2007 11:40am
GBP/USD: Markets Finally Waking Up and Smelling the Coffee New York, November 30. Cable has taken a real hit in the US session with the expected volatility into the final hours of trade for the month not failing to disappoint. Dealers note that leveraged funds have been slamming the GBP all morning causing the break of the short-term support levels by 2.0600. The moves have been cited to have been in anticipation of the 16:00GMT fixing orders for month end. Also seen accelerating the Cable decline is the broader based USD rally with Swissy moves above 1.1270 seen stopping out system and model funds who have been short USDs.
There has been no UK specific event risk over the past 24 hours, but the underlying fundamentals are clear and the outlook is looking grimmer by the day. UK data continues to show deterioration in the economy with the additional strain of elevated interest rates now noticeably taking their toll. The latest comments to come out from BoE governors Blanchflower and King clearly reflect the dovish outlook with the MPC members suggesting the need for a rate cut. Additionally, the strain on the economy from the credit market fallout has been huge and is expected to continue to weigh going forward. This leaves the GBP/USD exchange rate extremely vulnerable as the US has been dealing with the crisis with interest rates at much lower and accommodating levels. Surely the UK will need to take the same monetary policy approach in light of the credit environment, which means they have a lot more to come down to alleviate liquidity concerns. This should continue to benefit the USD going forward.
The markets could also be starting to realize that the Fed is not as dovish as interest rate futures would have them believe. The simple fact is that the Fed in their releases and in their speeches have never indicated that they would be cutting rates. Even Kohn, the most dovish of late, only expressed his concerns over the state of the markets and hinted at the possibility for an easing. This however comes in sharp contrast to those hawkish comments out from Plosser, Evans, and Fisher. Last night Bernanke was also on the podium and in his speech he highlighted his concerns over inflation and the need to weigh the upcoming data before considering the Feds decision. This sounds a lot more hawkish then others have interpreted today.
Finally, there is strikingly little interest in the GBP from many of the accounts that had been so actively buying 6 months ago. Despite the broad based negative USD sentiment, many of these accounts recognize the transition in the BoE"s monetary policy, and view Cable over the 2.00 handle as overvalued. Instead there is increased interest in using the Yen as an alternative reserve currency, especially in the current risk averse global environment. This has resulted in a significant liquidation of the GBP/JPY carry trade which is expected to continue to decline over the long-term, which should act as an additional strain on Cable.
Technically, retail indicators show traders have been increasing their GBP long positions after being overwhelming net short for much of the move up beyond the 2.00 handle. This often is suggestive of a USD bottom. Our trend intensity indicator is also showing Cable at trend ready levels for a sell-off.
  • #42,455
  • Nov 30, 2007 11:40am Nov 30, 2007 11:40am
Quoting Designer1
i am going to sleep

i have about stop loss at 625 and now i am not going to close my lot

i have from 563 - lets see tommoorrow where the price will stop?

small lot but now i will keep that with next week!

sleeping now - come back with this :surprised
This is friday , watch your S/L , will expiry when ckose market today , ?
I Deeply Love My Virtual Life In Virtual World , RLC
  • #42,456
  • Nov 30, 2007 11:47am Nov 30, 2007 11:47am
Quoting tim1234
GBP/USD: Markets Finally Waking Up and Smelling the Coffee New York, November 30. Cable has taken a real hit in the US session with the expected volatility into the final hours of trade for the month not failing to disappoint. Dealers note that leveraged funds have been slamming the GBP all morning causing the break of the short-term support levels by 2.0600. The moves have been cited to have been in anticipation of the 16:00GMT fixing orders for month end. Also seen accelerating the Cable decline is the broader based USD rally with Swissy moves above 1.1270 seen stopping out system and model funds who have been short USDs.
There has been no UK specific event risk over the past 24 hours, but the underlying fundamentals are clear and the outlook is looking grimmer by the day. UK data continues to show deterioration in the economy with the additional strain of elevated interest rates now noticeably taking their toll. The latest comments to come out from BoE governors Blanchflower and King clearly reflect the dovish outlook with the MPC members suggesting the need for a rate cut. Additionally, the strain on the economy from the credit market fallout has been huge and is expected to continue to weigh going forward. This leaves the GBP/USD exchange rate extremely vulnerable as the US has been dealing with the crisis with interest rates at much lower and accommodating levels. Surely the UK will need to take the same monetary policy approach in light of the credit environment, which means they have a lot more to come down to alleviate liquidity concerns. This should continue to benefit the USD going forward.
The markets could also be starting to realize that the Fed is not as dovish as interest rate futures would have them believe. The simple fact is that the Fed in their releases and in their speeches have never indicated that they would be cutting rates. Even Kohn, the most dovish of late, only expressed his concerns over the state of the markets and hinted at the possibility for an easing. This however comes in sharp contrast to those hawkish comments out from Plosser, Evans, and Fisher. Last night Bernanke was also on the podium and in his speech he highlighted his concerns over inflation and the need to weigh the upcoming data before considering the Feds decision. This sounds a lot more hawkish then others have interpreted today.
Finally, there is strikingly little interest in the GBP from many of the accounts that had been so actively buying 6 months ago. Despite the broad based negative USD sentiment, many of these accounts recognize the transition in the BoE"s monetary policy, and view Cable over the 2.00 handle as overvalued. Instead there is increased interest in using the Yen as an alternative reserve currency, especially in the current risk averse global environment. This has resulted in a significant liquidation of the GBP/JPY carry trade which is expected to continue to decline over the long-term, which should act as an additional strain on Cable.
Technically, retail indicators show traders have been increasing their GBP long positions after being overwhelming net short for much of the move up beyond the 2.00 handle. This often is suggestive of a USD bottom. Our trend intensity indicator is also showing Cable at trend ready levels for a sell-off.

very good and well fundamented comment but i dont buy that, id rather keep trapped longing cable than shorting it.

all are cutting rates, rates are going down but still the difference is gonna remain, we have a weaked gbp but also a weak usd.

so? rates remain relatively equal, also remember the downfall have been from 2.1100, now we are around 2.0550. i am longing cable for fast pips,

probable a win win, if it falls another 200 points and find support i can easily make another long. with a bigger lot and exit both, think about it.
  • #42,457
  • Nov 30, 2007 11:55am Nov 30, 2007 11:55am
have a great weekend guys/gals, this weekend has been productive for me and I hoope you had similar results. bye for now.



A.T.
  • #42,458
  • Nov 30, 2007 11:56am Nov 30, 2007 11:56am
looking at a monthly chart, i cant help thinking at what level it will turn back down at
  • #42,459
  • Nov 30, 2007 11:58am Nov 30, 2007 11:58am
off topic a bit, but looking at usd/cad it looks very bullish on monthly chart.
am i right anyone ?
  • #42,460
  • Nov 30, 2007 6:06pm Nov 30, 2007 6:06pm
Cable and Euro have been long for a long time. Looking across the board, all he majors are bucking the long trend - dollar/equities up for now, then down when the bad news eventually hits. No prediction here other than that Dec and Jan will be wild.
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