I'm long 1.9576...
I'm calling the bottom here
(look out )
1.98 TP
I'm calling the bottom here
(look out )1.98 TP
Cable Update (GBPUSD)
- #49,446
- Jan 14, 2008 12:30pm Jan 14, 2008 12:30pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
i dont think so
it will go down.. there is good downward pressure.
How do you deturmine "downward pressure"? I certainly see a downtrend in price action since 6:25 AM this morning (US Central Time) is this what you mean? Thanks for your commentary
- #49,452
- Jan 14, 2008 12:58pm Jan 14, 2008 12:58pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
- #49,457
- Jan 14, 2008 1:30pm Jan 14, 2008 1:30pm
- Joined Jul 2007 | Status: Never Give In | 2,518 Posts
HAHA you know nothing about FX if you really belive u will see 2.1 again
Humble Lifetime Member
- #49,458
- Jan 14, 2008 1:39pm Jan 14, 2008 1:39pm
HAHA you know nothing about FX if you really belive u will see 2.1 again
so if the bottom is 1.9 then the top is 2.1 ( i choose this )
I Deeply Love My Virtual Life In Virtual World , RLC
- #49,459
- Jan 14, 2008 1:50pm Jan 14, 2008 1:50pm
- Joined Apr 2007 | Status: USF Statistics | 2,248 Posts
well, lets look at it from this perspective:
The UK economy is very sensitive to the price of crude, since they do not produce any, and the recent run up in crude prices are sure to affect the pound more than the dollar. The pound must remain strong so that crude can be cheap for the UK, therefore their inflation numbers will be hotter than the US. This is evident by them not cutting rates at their last meeting on monetary policy. While, the US must continue to cut rates due to the housing sub-prime fiasco. The COT report is also suggesting that a "significant bottom" has formed on this pair. Tell me, what does this evidence suggest? The answer is.......................LOOK AT THE CHARTS!!!.......
The UK economy is very sensitive to the price of crude, since they do not produce any, and the recent run up in crude prices are sure to affect the pound more than the dollar. The pound must remain strong so that crude can be cheap for the UK, therefore their inflation numbers will be hotter than the US. This is evident by them not cutting rates at their last meeting on monetary policy. While, the US must continue to cut rates due to the housing sub-prime fiasco. The COT report is also suggesting that a "significant bottom" has formed on this pair. Tell me, what does this evidence suggest? The answer is.......................LOOK AT THE CHARTS!!!.......