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Cable Update (GBPUSD)

  • #4,461
  • Jan 3, 2007 2:30am Jan 3, 2007 2:30am
Should push down and expand this range pretty soon. At least in 60 min we will have some news come out on GBP.
Man who scratches ass should not bite fingernails
  • #4,462
  • Jan 3, 2007 2:35am Jan 3, 2007 2:35am
damn you longs, let go already!!!!!!!
Man who scratches ass should not bite fingernails
  • #4,463
  • Jan 3, 2007 2:35am Jan 3, 2007 2:35am
Morning peeps,

Looks like I haven't missed much so far today. Looking at the hourlies in conjunction with calendar for today equals something is brewing for the US session. Sidelines seem to be the best for now.http://www.forexfactory.com/forexfor...ons/icon11.gif Free gatorade!! gl gt
  • #4,464
  • Jan 3, 2007 2:36am Jan 3, 2007 2:36am
USDJPY up 20 pips (actually retracing yesterday's move) in the last 30 min, while Cable holds... Market is selling GBPJPY....

BTW, this happened a few days ago... I shorted Cable when saw USDJPY soaring and yet lost....
  • #4,465
  • Jan 3, 2007 2:41am Jan 3, 2007 2:41am
Quoting Leugimp
damn you longs, let go already!!!!!!!
If it makes you feel any better all of my indications are starting to sag down again !!
  • #4,466
  • Jan 3, 2007 2:42am Jan 3, 2007 2:42am
It is not just USD/JPY which is up, so is the Swissie and the Loonie, while cable is down. Not much movement in fiber or Aussie, but the kiwi is down abot 15 pips. It all adds up to USD strength, for whatever reason.
  • #4,467
  • Jan 3, 2007 2:46am Jan 3, 2007 2:46am
Quoting fxkenny
If it makes you feel any better all of my indications are starting to sag down again !!
Alright!!! ah, it doesn't really matter, i just want to go have a cigarette real bad.
Man who scratches ass should not bite fingernails
  • #4,468
  • Jan 3, 2007 2:46am Jan 3, 2007 2:46am
former resistance, 9700 is now a support. too bad the market is too thin, making difficult to feel the strength of this support.
  • #4,469
  • Jan 3, 2007 2:50am Jan 3, 2007 2:50am
Quoting moonchild
It is not just USD/JPY which is up, so is the Swissie and the Loonie, while cable is down. Not much movement in fiber or Aussie, but the kiwi is down abot 15 pips. It all adds up to USD strength, for whatever reason.
In an idle market this statement is problematic. You can see decoupling of a lot of pairs simply through crosses. NZDAUD even though I don't have it on my charts atm seems to have been responsible for a simultaneous AUDUSD rise yesterday while NZDUSD was dropping at the same time.
USDJPY on the other hand can rise or stay level while EURUSD and GBPUSD rise, simply because of YEN! weakness. Btw, most of the time you can see how USDJPY drives / has the same direction as the EJ and GJ crosses. This is because the moves are usually just that, indications for the Yen.
So it's not as easy as that
Also I'm sure you've all seen cable go meteoric while euro sits idle...well, that's EURGBP right there

IMHO it CAN help to look at the others, but usually you'll do just as fine simply boiling it down to the actual pair you're trading....

Just my thoughts on it...
Trust price. Know yourself.
  • #4,470
  • Jan 3, 2007 2:55am Jan 3, 2007 2:55am
Cool,

hahahah.my cigarette already on my finger but i cant find the lighter.crap!!!


Quoting Leugimp
Alright!!! ah, it doesn't really matter, i just want to go have a cigarette real bad.
  • #4,471
  • Jan 3, 2007 2:58am Jan 3, 2007 2:58am
Quoting SeekingLight
IMHO it CAN help to look at the others, but usually you'll do just as fine simply boiling it down to the actual pair you're trading....
You're right Seeking. What I've brought up is the fact that there were price actions related to USD (USDJPY) that was not spreading all over the market. USD/JPY being the cross hehehe.

When pairs act in syncronism it is easy to see that USD is being the focus and you can check if other pairs are finding S&R then predicting a possible hold in the pair you're trading.
  • #4,472
  • Jan 3, 2007 3:03am Jan 3, 2007 3:03am
Piece of information...

US prime name sales into the 1.9750 region is stalling the rise of [GBP/USD] currently. However, the Pound continues to attract better net buying interest from the 1.9690/00 area, which should hold through to the key US ISM numbers to come. Stops are said to be building above 1.9760 and a number of investment houses with early 2007 recommendations continue to look for further strength and a toppling of 2.00 in Cable ultimately.
  • #4,473
  • Jan 3, 2007 3:05am Jan 3, 2007 3:05am
Quoting cesarnc
Piece of information...

US prime name sales into the 1.9750 region is stalling the rise of [GBP/USD] currently. However, the Pound continues to attract better net buying interest from the 1.9690/00 area, which should hold through to the key US ISM numbers to come. Stops are said to be building above 1.9760 and a number of investment houses with early 2007 recommendations continue to look for further strength and a toppling of 2.00 in Cable ultimately.
I often receive news from the same source and I find it to be junk
  • #4,474
  • Jan 3, 2007 3:13am Jan 3, 2007 3:13am
Some Points of Interest for now anyways

D- Daily

W- Weekly

M- Monthly

Pvt- Pivot Point

R- Resistance

S-Support

MR-Mid Range Between Resistance Level of daily, weekly, monthly

MS-Mid Range Between Support Level of daily, weekly, monthly

Green Fib lines are base on previous days high and low with trend

Yellow Fib lines are based on previous weeks high and low with trend

Weekly high 9677 daily 50% fib 9678
Previous days low 9616 Weekly 38.2% fib 9615
Hoovering around the WMR2 of 9710 and daily 23.6% fib 9711
Attached Image
  • #4,475
  • Jan 3, 2007 3:16am Jan 3, 2007 3:16am
Woops ignore last chart
Some Points of Interest for now anyways


D- Daily

W- Weekly

M- Monthly

Pvt- Pivot Point

R- Resistance

S-Support

MR-Mid Range Between Resistance Level of daily, weekly, monthly

MS-Mid Range Between Support Level of daily, weekly, monthly

Green Fib lines are base on previous days high and low with trend

Yellow Fib lines are based on previous weeks high and low with trend

Weekly high 9677 daily 50% fib 9678
Previous days low 9616 Weekly 38.2% fib 9615
Hoovering around the WMR2 of 9710 and daily 23.6% fib 9711
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Attached Image
  • #4,476
  • Jan 3, 2007 3:19am Jan 3, 2007 3:19am
ok we passed the 9704 level, now we must move to 9683 in order to negate the positive reversal before 400 tick reverses.
Man who scratches ass should not bite fingernails
  • #4,477
  • Jan 3, 2007 3:20am Jan 3, 2007 3:20am
why do you say 9683
  • #4,478
  • Jan 3, 2007 3:20am Jan 3, 2007 3:20am
might be good idea to take partial profit just above it, I will do so at 9690 if it gets there for 20 pips partial profit.
Man who scratches ass should not bite fingernails
  • #4,479
  • Jan 3, 2007 3:23am Jan 3, 2007 3:23am
Quoting goodthings
why do you say 9683
it was the next relevant swing low on my charts on 400 ticks. RSI is currently below rsi from that low. If price reverses on 400 tick chart, it will lead me to believe that in increase in momentum has been unable to push price lower, and would indicate a move back up the 9760 area. Just 1 view or opinion.
Man who scratches ass should not bite fingernails
  • #4,480
  • Jan 3, 2007 3:24am Jan 3, 2007 3:24am
just wondering thanks
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