Cable Update (GBPUSD)

Up eh? We've just gotten to the 61.8 retracement of the last move down and so now I'd be looking to see more downside movement. This will be only the second wave downwards and so I look to see new lower lows by tomorrow.

Monster Online Job Index Plunges in December

MONSTER.COM ONLINE JOBS EMPLOYMENT DECEMBER
By Reuters

Reuters
| 03 Jan 2008 | 03:25 AM ET

A gauge of U.S. online labor demand plunged in December to its lowest level since January 2007, as a year-end seasonal slowdown met further moderation in online recruiting, a report showed on Thursday.
Monster, a global online recruiting firm, said its Employment Index fell to 169 points in December, from 183 in November. The index was 167 a year ago and 168 in January 2007.
"Approximately half of the index's decline in December 2007 can be attributed to seasonality as employers naturally scale back their hiring activities during the final month of the year," said Steve Pogorzelski, a vice president at Monster Worldwide, in a statement.
The seasonal slowdown has traditionally been followed by a spike in January, with the exception of 2007. "It will be interesting to see the index's January 2008 results when they
are released next month," he said.
The Monster index precedes the release of the ADP National Employment report, which later on Thursday is expected to show U.S. private employers added 50,000 jobs in December, a fraction of the 189,000 added in November.
The U.S. Labor Department's release of initial claims for jobless benefits, also due later on Thursday, is expected to be at 345,000 according to a Reuters poll of economists.
The Monster Employment index is a monthly analysis based on a selection of corporate career sites and job boards. The margin of error is approximately plus or minus 1 percent.
Copyright 2008 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/22483649/

1.9700 is an incredibly important support... Shorts be careful.. though i believe in a retrace, there is no way i am taking a long position either. best to wait for a better short position indicator.

however 1.9780 is a good but a risky place to go short...

1.9777 SHORT 6 LOT

I do not believe there could be a way down today, with all the fundamentals stressing the dollar fall...

Even if the ADP value be positive for dollar, there should not be a significant fall.

The situation could mean a trend turn, today...

@ same price with u

I don't see why once price action indicates price should be headed downwards in line with the fib levels.

We ride

JOIN your SHORT too..

I agree that 1.9780 level to go short is a real risk. If the market closes above 1.9790 today there is a high probability the price will go to 2.01-03. In that case we could have a bottom there and the begining of a huge amd long move up to ~2.20.

short since 1.9783

anyone aiming as far as 1.9700-1.9710 ?

1.9755 is also a nice take out point... i am confident we should meet 1.9755 at least.

What is your SL?

Somehow I don't understand all those shorts of yours, guys.
Especially now, not an hour from the news.

I wish you good luck, but still, this seems to me more gambling than trading...

wait guys still not confirm long or short

1.9815

That 1.97 low might have been the end of the road for the downtrend, no?

droped my longs at break even shorts still in play

You are magician!!

That's the magic of fib retracement levels being used effectively in your trading. If you were to hold on a little while longer I think you would make more profit. These short term trades do make a profit, but nothing like the longer term will make you.