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Cable Update (GBPUSD)

  • #48,961
  • Edited 7:43am Jan 10, 2008 4:49am | Edited 7:43am
Long 1.9565, from the bottom of the channel and the high from the weekly chart 121204 1.9554.

Breaking the daily pivot now 1.9631.

First target around 1.98 second around 2.

Edit: hit +100 TP on 1/2. Remaining 1/2 moved stop to +10

Edit 2: stopped out for +10 on 2nd 1/2
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5m 100108 line.gif Size: 16 KB
  • #48,962
  • Jan 10, 2008 4:54am Jan 10, 2008 4:54am
yeah!! yes i did...like i said..it's going up higher now till tomorow morning..
  • #48,963
  • Jan 10, 2008 4:57am Jan 10, 2008 4:57am
i think if it break through this resistance it going up ...all this point has been a support 3 times in the past...can look at it as a triple bottom..i think its only going up if it breaks through
  • #48,964
  • Jan 10, 2008 5:05am Jan 10, 2008 5:05am
I see things differently to you guys! We have hit the top of a downward chanel. Also hit 50% fib. I see a reverse down to 1.9600.
  • #48,965
  • Jan 10, 2008 5:07am Jan 10, 2008 5:07am
Quoting Terri1
I see things differently to you guys! We have hit the top of a downward chanel. Also hit 50% fib. I see a reverse down to 1.9600.
I think GBP/USD will fall today further..
Technically its not satisfying to push up.
  • #48,966
  • Jan 10, 2008 5:10am Jan 10, 2008 5:10am
Expecting a retrace of yesterdays bearish run to 9700 (approximately @ 50 fib)where alot of bids should be according to my broker, tho no position taken markets feels to unsafe for me as we getting closer to rate announcement.
Attached Image (click to enlarge)
Click to Enlarge Name: guppy1.gif Size: 27 KB
Measure twice, cut once
  • #48,967
  • Jan 10, 2008 5:11am Jan 10, 2008 5:11am
Quoting Bali
GU Going UP Fast, what is the idea guys ?

MOST PAIRS GOING UP ?
...seems big boys knows whats happenin inside Bank of England,long all day or stay out!
  • #48,968
  • Jan 10, 2008 5:16am Jan 10, 2008 5:16am
moral of the story long for today..
  • #48,969
  • Jan 10, 2008 5:18am Jan 10, 2008 5:18am
Quoting hilmiy2k
moral of the story long for today..
Closed my short from 1.9640 +21. Will stay out until BOE.
  • #48,970
  • Jan 10, 2008 5:20am Jan 10, 2008 5:20am
1.9589 is where i have my 50 level..let see what happens a there will it bounce or go through
  • #48,971
  • Jan 10, 2008 5:22am Jan 10, 2008 5:22am
Quoting 30pips
...seems big boys knows whats happenin inside Bank of England,long all day or stay out!
I'm sure big boys know, but is it long gbp long, or could it be a little push so they could fool us little people and get a chance to enter their shorts at a little higher price?
We'll know in 38 minutes
Cable is my sugardaddy
  • #48,972
  • Jan 10, 2008 5:27am Jan 10, 2008 5:27am
Quoting bohogirl
I'm sure big boys know, but is it long gbp long, or could it be a little push so they could fool us little people and get a chance to enter their shorts at a little higher price?
We'll know in 38 minutes

AAAHHHBULLTRAP!!! Bless you.
Just Trade It
  • #48,973
  • Jan 10, 2008 5:29am Jan 10, 2008 5:29am
we count down the miniutes left until BOE announce their 50 points rate cut !
  • #48,974
  • Jan 10, 2008 5:30am Jan 10, 2008 5:30am
Quoting nAVIN2007
1.9589 is where i have my 50 level..let see what happens a there will it bounce or go through
iHAVE 1.9594 AS 23.6% Fib. 1.9600 strong support & 1.9598 bottom of downward chanel. IT WILL NOT BREAK THROUGH!
  • #48,975
  • Jan 10, 2008 5:31am Jan 10, 2008 5:31am
What a Deadly Moment. Everything seems to stop breathing. Just because of MR BOE.
May all the best come to us. RIGHT HERE WAITING FOR YOU, BABYYYYY
  • #48,976
  • Jan 10, 2008 5:32am Jan 10, 2008 5:32am
are u guys using metatrader 4 ...i have a problem i cant seem to get a good view of the chart and technical analysis seem to suffer as a result but i love the platform..just wondering if this is shared problem or not?
  • #48,977
  • Jan 10, 2008 5:34am Jan 10, 2008 5:34am
I never get BOE correct but! 0.25% back to yesterdays levels. Greater would see a good drop below 1.9600. No Change then 1.9700. What do you think?
  • #48,978
  • Jan 10, 2008 5:35am Jan 10, 2008 5:35am
Personally I think that G/U has bounce off the triple bottom on the daily charts.

Also it has formed a bullish bat on the daily chart. So I expect it to go up to 1.9900s by tommorrow or early next week.

Cheers.
  • #48,979
  • Jan 10, 2008 5:38am Jan 10, 2008 5:38am
19500
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19400
  • #48,980
  • Jan 10, 2008 5:43am Jan 10, 2008 5:43am
(UK) PREVIEW BOE INTEREST RATE DECISION EXPECTED AT 7:00AM ET (12:00 GMT)
- Consensus expectation is for rates to remain at 4.00
- UK The majority of members of the "shadow monetary policy committee (SMPC)" are calling for a BOE rate cut at the upcoming meeting by a 5-4 vote; Two members of the SMPC (Minford and Warburton) are calling for a 50bps rate cut
- The debate amoung FX dealers is whether the BOE will cut rates at two consective policy meetings. The MPC last delivered back-to-back UK interest rate cuts in September, October and November 2001 (post-9/11). The MPC has only ever cut the UK base rate once in January, back in 1999. Last January, the MPC shocked the market by hiking the base rate by 25bp to 5.25% (no change was expected).

hmmm anybodys guess really
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