do you know that there is some speculation uk is gonna hint this week a possible rate cut next time? also the most prefered trade by banks around 2008 are gonna be gbp shorts? are you really aware?
this is investor confidence. man.
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Dislikedcable has been very unexciting lately.. no trends, just ranging.. I have been long for 2 weeks but not much happening!Ignored
DislikedImagine a bucket filled with sand leveled to the top. Someone starts digging on one side of the bucket creating a big hole, with that it reveals some pot holes and some sand sliding over into the hole. Now shake it up and the sand will come together creating a new surface.
Thats what thats happening in the currency market today, at least until the 1st. quarter of 2008. We are going through a 'shake up' and we will see new levels on all major currencies soon.Ignored
DislikedI just love this thread and cable.
I will continue with sell where I left it, I guess
Today is bullish in outlookIgnored
DislikedThat was a short sleep. Your last posting was like 3 hours ago. Or was it only a nap? Dont tell me forex traders has less sleep and spend more time in front of the computer.lolIgnored
DislikedIt should fall anytime now, and fall hard. It looks like it's going to begin wave 3 in a larger wave 3. This wave count, and the downside pressure, should hold as long as price is below 2.0843. Outside of the technicals you have a slowing UK economy and perhaps even a possible rate cut this week, but most likely a strong signal of a rate cut in the future, both should send the GBP reeling against the dollar. Plus, the sentiment against the dollar has been ridiculously one-sided and very very extreme and it appears that last week may have just marked the dollar bottom for now, and a sharp USD rally is waiting to explode. With the absence of significant data tomorrow and somewhat Wednesday, I'm not expecting much until Thursday, unless some news leaks out beforehand. I see any news benefiting the GBP/USD doing very little, but bad news for the GBP/USD will send the pair down sharply. The pressure is to the downside right now as long as price is under 2.0843 (top of large wave 2). With the heavy hitting news in the next 8 days, it should make for insane moves which is also in line with a large wave 3; and in this case, wave 3 is down!
The GBP will test 2.000 in the coming weeks.
-ToddIgnored
DislikedI see forex trading is an exactscience once again. Half people saying short otherhalf saying longIgnored
Dislikedgbp made a support line on 2.0630 all the night ( near daily pivot) so after several hours and near london open , I think aim to 2.0705 , and also in 1h chart we see 2 double botom so today is very important and because of gbp behaviour every thing is possible but i am going long on 2.0645Ignored