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Cable Update (GBPUSD)

  • #44,981
  • Dec 14, 2007 8:26am Dec 14, 2007 8:26am
Quoting Malaysia
Missed this train... there's always never ending opportunity in FOREX. Risk management side with this kind of market psychology... better SELL FROM BOUNCE rather than BUY FROM DIP. Just be patience
very true.. "better SELL FROM BOUNCE rather than BUY FROM DIP. Just be patience "
  • #44,982
  • Dec 14, 2007 8:33am Dec 14, 2007 8:33am
Quoting SynWind
very true.. "better SELL FROM BOUNCE rather than BUY FROM DIP. Just be patience "
agreed...this is a very tempting dip though lol
  • #44,983
  • Dec 14, 2007 8:34am Dec 14, 2007 8:34am
Quoting samclider
BUY Again Go GO target 2.0500 :
Unless there's NEWS saying otherwise... the highest it can go is around 2.03xx. That is around 50%Median or 61.8% Fibbo Retracement.

p/s: What makes you think 2.0500 will be the target? Do you mind sharing your FA or TA?
Attached Image (click to enlarge)
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  • #44,984
  • Dec 14, 2007 8:44am Dec 14, 2007 8:44am
Cable went up to 2.0240 and then WHAMP!!! came back down below 2.0200. SELL FROM BOUNCE ROCK
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd586a.PNG Size: 25 KB
  • #44,985
  • Dec 14, 2007 8:52am Dec 14, 2007 8:52am
Good Day

Close day candle below trendline ... cable will go down ... close above it will go up
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  • #44,986
  • Dec 14, 2007 9:10am Dec 14, 2007 9:10am
If General Motors 6 litre trucks become popular in Europe and UK unilaterally attacks Iran - and US and Israel deplores it, then sell cable
  • #44,987
  • Dec 14, 2007 9:31am Dec 14, 2007 9:31am
precisely.......
  • #44,988
  • Dec 14, 2007 9:33am Dec 14, 2007 9:33am
very bad for gbp bears what has just printed, a likely double bottom.
and double bottoms many times act as very strong supports.

not just double button, + failed a new low on daily chart.
  • #44,989
  • Dec 14, 2007 9:39am Dec 14, 2007 9:39am
Quoting acidguy
very bad for gbp bears what has just printed, a likely double bottom.
and double bottoms many times act as very strong supports.

not just double button, + failed a new low on daily chart.
My mother in law has a double bottom and that never attracted me ... However cable has come down too far too fast so a bit of a bounce will do nicely
  • #44,990
  • Edited 9:57am Dec 14, 2007 9:41am | Edited 9:57am
Quoting allserene
My mother in law has a double bottom and that never attracted me ... However cable has come down too far too fast so a bit of a bounce will do nicely
yes, i am with you. bears has just drunk too much today.
its time for bulls revenge...

lol, bears who were smashing here gbp have suddenly dissapeared...
where you are guys.......

are you partying with your profits?
or making more shorts?

-------------------------------------------------------------------------------
update of last minute-----------------------------------------------
bulls are fighting with courage the war, likely to destroy downward momentum... keep tuned...
  • #44,991
  • Dec 14, 2007 10:00am Dec 14, 2007 10:00am
they r probably partying while bulls r licking their wounds
  • #44,992
  • Dec 14, 2007 10:03am Dec 14, 2007 10:03am
Only NY is silly enough to be buying dollars, but someone has to fill the foreign banks shorts. Payback for the crappy bonds we sold them.
  • #44,993
  • Dec 14, 2007 10:05am Dec 14, 2007 10:05am
this guy is a native usd bull but read carefully his last post :

http://advisor.fxstreet.com/

what usd has done today is dangerous for itself. read why....
  • #44,994
  • Dec 14, 2007 10:19am Dec 14, 2007 10:19am
Quoting Malaysia
Unless there's NEWS saying otherwise... the highest it can go is around 2.03xx. That is around 50%Median or 61.8% Fibbo Retracement.

p/s: What makes you think 2.0500 will be the target? Do you mind sharing your FA or TA?
Step MA TF H4 Usaully i following,
I am not believe in Pivot system .......
  • #44,995
  • Dec 14, 2007 10:25am Dec 14, 2007 10:25am
geezz, this bears want more blood....
  • #44,996
  • Dec 14, 2007 10:33am Dec 14, 2007 10:33am
Looks like EURGBP is causing downward pressure now on Cable.

Pound is looking weak against the dollar...ack
  • #44,997
  • Dec 14, 2007 10:37am Dec 14, 2007 10:37am
Quoting TIckerShuffl
Looks like EURGBP is causing downward pressure now on Cable.

Pound is looking weak against the dollar...ack
yes it look like pound is weakening by itself and not by usd pressure.
dang!.
  • #44,998
  • Dec 14, 2007 10:43am Dec 14, 2007 10:43am
He keeps saying "and you know what that means"...not sure what he is trying to say, actually.

Quoting acidguy
this guy is a native usd bull but read carefully his last post :

http://advisor.fxstreet.com/

what usd has done today is dangerous for itself. read why....
  • #44,999
  • Dec 14, 2007 10:51am Dec 14, 2007 10:51am
Quoting Malaysia
Already at the bottom of the CHANNEL. Still got room some more to drop further. Will it be a BREAKOUT... and we shall see the era of CABLE below 2.0000
I think false breakout is more probable as we can see from the slope of US dollar index.. I dont think this USD retracement have the strength to change the weak USD trend. If GBP really break below 2, it will correct towards 1.85, but will it be better for the UK house market? The depreciation can be achieved through forex rather than a hard landing? Do you think there can be gov intervention which break the GBP weekly uptrend manually?
  • #45,000
  • Dec 14, 2007 10:55am Dec 14, 2007 10:55am
Quoting acidguy
yes it look like pound is weakening by itself and not by usd pressure.
dang!.
I dont think it weakens by itself because we can see that most currencies depreciates relative to USD by a large extent today...
http://www.netdania.com/QuoteList.asp
this move is triggered by the current account deficit shrinks..
http://www.dailyfx.com/story/dailyfx...642943650.html
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