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Cable Update (GBPUSD)

  • #49,501
  • Jan 14, 2008 6:20pm Jan 14, 2008 6:20pm
Quoting Ash
Ok, for everyone who wants to learn something new about cable, there has been a high correlation between Cable and positive energy prices (as I had long suspected)....

Anyone can read more about it here....
http://forextrading.about.com/od/currencies/p/gbp_ro.htm


Good Luck trading!
It's true but it has lagged behind dramatically and sems to have broken away. I have to wonder if it has to do with EURO being used to pay for oil more often?
  • #49,502
  • Jan 14, 2008 7:34pm Jan 14, 2008 7:34pm
There has been a long positive correlation between cable and oil. However at the last 'break' of that correlation - Spring of 2005 - Cable dropped about 2000 pips (data from Kathy Lien - FXCM). The correlation has once again broken - which is fairly obvious since oil continues skyward and cable goes down in the toilet.
  • #49,503
  • Jan 14, 2008 7:55pm Jan 14, 2008 7:55pm
Quoting schpsyk
There has been a long positive correlation between cable and oil. However at the last 'break' of that correlation - Spring of 2005 - Cable dropped about 2000 pips (data from Kathy Lien - FXCM). The correlation has once again broken - which is fairly obvious since oil continues skyward and cable goes down in the toilet.
What did EURGBP during that last decoupling? hmmm, looking ar my charts there was not a strong EURGBP during last decoupling...in 2005 as you suggest, that was not just a spring thing that was over 6 months to make the long move from 1.90 to 1.70 - we only 200 pips for 2000 from recent top.
  • #49,504
  • Jan 14, 2008 8:14pm Jan 14, 2008 8:14pm
Quoting Runway Trade
And by drilling cable will be going down! Who cares where the oil is all we need to know is cable going down! Thank you

hehe, it's funny
  • #49,505
  • Jan 14, 2008 10:48pm Jan 14, 2008 10:48pm
Thanks to that nice drop in cable last night (for me) I finished the day positive +23pips after a -45pip loss, again riding losses, stupid. But at least ended positve. Lots of news today to confuse all again. Good trading to all today.
Cut your losses and ride your profit!!!!!!!
  • #49,506
  • Jan 14, 2008 11:23pm Jan 14, 2008 11:23pm
hey quick... wats ur view for today..??
  • #49,507
  • Jan 14, 2008 11:29pm Jan 14, 2008 11:29pm
On Fun. if GBP fig come out bad at 5:30 then GBP falls. 4 hours later US fig come out, if bad then GBP goes up again. So where does that leave us for the day? Martini shaken not stired!
  • #49,508
  • Jan 14, 2008 11:41pm Jan 14, 2008 11:41pm
Quoting MrFuture
If you guys wanna know what's going on...well, just use a 1hr chart and place a 62 EMA....can't get any clearer than that
If this is anything to go on cable should be going down shortly! Lets wait and see, it over shot 45pips yesterday but maybe cable conforms today?
  • #49,509
  • Jan 14, 2008 11:51pm Jan 14, 2008 11:51pm
seems cable have good potential to touch 1.9660 today...

GL
  • #49,510
  • Jan 15, 2008 12:46am Jan 15, 2008 12:46am
Quoting nik1033
seems cable have good potential to touch 1.9660 today...

GL
Why would you say that, I cant see any reason for up, still stong down channel on 1H, already retracted to 23.6%. Might go to 1.9600 then down again before news and further down with bad news to 1.9500. If the news is better then expected might break up. just my view.
  • #49,511
  • Jan 15, 2008 1:01am Jan 15, 2008 1:01am
Quoting jacobtrader
i agree..
i cant comment on the news.. But it looks to me bearish for GBP
up and down up and down..now UP??

and what happened to jacobtrader? his name is colored grey..
  • #49,512
  • Jan 15, 2008 1:05am Jan 15, 2008 1:05am
Some interesting reading on the outlook for cable for 2008.

http://www.dailyfx.com/story/currenc/gbp_fundamentals/GBP_USD_2008_Outlook_1199119706834.html


Looks like a oneway road to 1.8xx
  • #49,513
  • Jan 15, 2008 1:07am Jan 15, 2008 1:07am
Quoting hijackxx@hotmai
up and down up and down..now UP??

and what happened to jacobtrader? his name is colored grey..
jacobtrader Infractions Overload

???
  • #49,514
  • Jan 15, 2008 1:26am Jan 15, 2008 1:26am
Quoting Runway Trade
jacobtrader Infractions Overload

???
what does that mean?
  • #49,515
  • Jan 15, 2008 1:27am Jan 15, 2008 1:27am
Today 1.94....
  • #49,516
  • Jan 15, 2008 1:43am Jan 15, 2008 1:43am
forexguru you are silence from few days ?

whats up whats your analysis for today?

today first target sure 1.9500 hit
  • #49,517
  • Jan 15, 2008 1:43am Jan 15, 2008 1:43am
Quoting FXdaily
Today 1.94....
we can have that area but may be take still one more day?
  • #49,518
  • Jan 15, 2008 1:44am Jan 15, 2008 1:44am
i think a rise to 970 is next...
  • #49,519
  • Jan 15, 2008 1:46am Jan 15, 2008 1:46am
Quoting Designer1
we can have that area but may be take still one more day?
No that must happend today 1.9465.......
  • #49,520
  • Jan 15, 2008 2:01am Jan 15, 2008 2:01am
Quoting Designer1
forexguru you are silence from few days ?

whats up whats your analysis for today?

today first target sure 1.9500 hit
I am not silent.. I was here yesterday... but you was not actually.

Today seems a tricky day as yesterday for the moment.. I can not have a real clue yet.. will let you know when I get some strong signals.
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