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Cable Update (GBPUSD)

  • #51,561
  • Jan 31, 2008 8:05am Jan 31, 2008 8:05am
should go south for this week.

DOWN:surprised
  • #51,562
  • Jan 31, 2008 8:12am Jan 31, 2008 8:12am
It may down to 1.9730. at that time we may long it.

  • #51,563
  • Jan 31, 2008 8:16am Jan 31, 2008 8:16am
Quoting goodchong
It may down to 1.9730. at that time we may long it.

Why? I think if someone of us writes a direction of cable or any other pair it would be great to add arguments why it should go here or there. Without that all posts are useless.

Now cable could go up or either down, it depends will it breach his hourly channel and i think we will have an answer per one hour. Good trading
  • #51,564
  • Jan 31, 2008 8:21am Jan 31, 2008 8:21am
Another thing is that today we have last day of January and a lot of traders take out profit from long position
  • #51,565
  • Jan 31, 2008 8:27am Jan 31, 2008 8:27am
Quoting sDRs
Why? I think if someone of us writes a direction of cable or any other pair it would be great to add arguments why it should go here or there. Without that all posts are useless.

Now cable could go up or either down, it depends will it breach his hourly channel and i think we will have an answer per one hour. Good trading

I base on the fundamental view.

second, My english not that good. i will try my best to explain why it will down.

I chart CCI going to cross down (daily) and the 4 hour chart show down trend. tommorrow early morning 8.00am (Malaysia time) I will go short.
  • #51,566
  • Jan 31, 2008 8:33am Jan 31, 2008 8:33am
cable will bounce... channel support in my chart..
Never Give Up.....
  • #51,567
  • Jan 31, 2008 8:36am Jan 31, 2008 8:36am
Quoting lessy
cable will bounce... channel support in my chart..
support is at 1.9853, second 30min candle cannot breach it yet. Interesting
  • #51,568
  • Jan 31, 2008 8:50am Jan 31, 2008 8:50am
i am long from 1.9884 only small one lot and my stop loss is outside of channel which is 9840 stop loss if break then small loss at possible but according to systematically cable will sure break 9954 past high

i will try to this lot till tommorrow if possible to see 2.0100 area
  • #51,569
  • Jan 31, 2008 10:37am Jan 31, 2008 10:37am
For the old timers on here...

I just sold my UK house which has not had an offer since I put it up for sale in MARCH

I have always jokingly said that the uk would turn when my house sold...

I am now biased as I want 2.0500 so I can buy a load of USD and bring em to the USA

So every time I advocate long - ignore me (if you dont already)

But I do advocate long on a fun-and-mental basis

1.25% fed cut in just few days and cable only shows mild interest in moving up ? come on now that doesn't sound right....

US abandons inflation concerns and UK is still bound to guard against it

If it looks wrong then it usually is - but sometimes there is a lag
  • #51,570
  • Jan 31, 2008 10:40am Jan 31, 2008 10:40am
allserene...
congratulations on selling your house...i'm sure its a relief...
  • #51,571
  • Jan 31, 2008 11:40am Jan 31, 2008 11:40am
British house prices fell for a third consecutive month in January - housing market data from the UK continues to weaken. Consumer credit and mortgage approvals are also falling short of expectations. These factors put downward pressure on the GBP....
  • #51,572
  • Jan 31, 2008 2:16pm Jan 31, 2008 2:16pm
Quoting DannyB
British house prices fell for a third consecutive month in January - housing market data from the UK continues to weaken. Consumer credit and mortgage approvals are also falling short of expectations. These factors put downward pressure on the GBP....

UK
Net lending is still strong and the overall economy is growing as compared to the US who's GDP is probably negative as we speak..


Wed
Jan 30 4:30am

4:30am GBPhttp://www.forexfactory.com/images/m...act_medium.gifNet Lending to Individuals m/m
http://www.forexfactory.com/images/m...etail_star.gif 9.1B



then add the interest differential and UK's large trade with EU zone...

Then look at the 2 years trend...

Look at the US purposely increasing it's fiscal deficit by tax rebate cheques and probably the trade deficit when this is spent on chinese intelligent electronic back scratchers....

The US does not have the percentage immigration that the UK has and has unlimited land area..

Half the immigrants to the US live in bunks 10 to a wall in slums - no housing pressure coming from them

The UK housing history is of stand stills or slight drops - the US traditionally slashes prices...

Fundamentally speaking, I can see why the euro is strong but I don't see why the gbp should be ruled out long term..
  • #51,573
  • Jan 31, 2008 2:42pm Jan 31, 2008 2:42pm
Quoting allserene
UK
Net lending is still strong and the overall economy is growing as compared to the US who's GDP is probably negative as we speak..


Wed
Jan 30 4:30am

4:30am GBPhttp://www.forexfactory.com/images/m...act_medium.gifNet Lending to Individuals m/m
http://www.forexfactory.com/images/m...etail_star.gif 9.1B



then add the interest differential and UK's large trade with EU zone...

Then look at the 2 years trend...

Look at the US purposely increasing it's fiscal deficit by tax rebate cheques and probably the trade deficit when this is spent on chinese intelligent electronic back scratchers....

The US does not have the percentage immigration that the UK has and has unlimited land area..

Half the immigrants to the US live in bunks 10 to a wall in slums - no housing pressure coming from them

The UK housing history is of stand stills or slight drops - the US traditionally slashes prices...

Fundamentally speaking, I can see why the euro is strong but I don't see why the gbp should be ruled out long term..


Agree with all that all that Allserene ,also we talk about tech and fundamentals' but don't you think there there is a third part to the puzzle which is hardly touched here
Market Sentiment, I've noticed price go and not go ,places where would not think in the past due to that. I'm trying to judge sentiment more and more as part of my strategy.Why is price hung?
My theory is this ,I'm really thinking prices will go up. But tomorrow we may have a good US figure and price will drop now if I wanted to go long term I ideally would want to buy from the bottom so why buy now wait for the anticipated fall,don't you think?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #51,574
  • Jan 31, 2008 3:55pm Jan 31, 2008 3:55pm
All I know is that the Fed cut interest rates by 1.25% in less than a week and the pound didnt react as much as expected, lets face it, interest rates run the curency markets and if we didnt see a big move up for the pound, then it leads me to believe that in the short term, the dollar will see STRENGTH!! Im am selling to at least 1.9650 and then we go back up!.
  • #51,575
  • Jan 31, 2008 3:56pm Jan 31, 2008 3:56pm
Quoting Bones
Agree with all that all that Allserene ,also we talk about tech and fundamentals' but don't you think there there is a third part to the puzzle which is hardly touched here
Market Sentiment, I've noticed price go and not go ,places where would not think in the past due to that. I'm trying to judge sentiment more and more as part of my strategy.Why is price hung?
My theory is this ,I'm really thinking prices will go up. But tomorrow we may have a good US figure and price will drop now if I wanted to go long term I ideally would want to buy from the bottom so why buy now wait for the anticipated fall,don't you think?
you make alot of sense my good man, ALOT OF SENSE!!!
people will probably say that you dont see the big picture, blah blah blah, but.........you have the biggest view, in my eyes!!
  • #51,576
  • Jan 31, 2008 3:56pm Jan 31, 2008 3:56pm
Or maybe market want to print a long legged doji on monthly
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #51,577
  • Jan 31, 2008 3:59pm Jan 31, 2008 3:59pm
Quoting AmeriTrini
you make alot of sense my good man, ALOT OF SENSE!!!
people will probably say that you dont see the big picture, blah blah blah, but.........you have the biggest view, in my eyes!!
Thanks mate I am sitting here thinking am i mad,I dont hear voices yet which is a good sign,ha ha
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #51,578
  • Jan 31, 2008 4:05pm Jan 31, 2008 4:05pm
Quoting Bones
Thanks mate I am sitting here thinking am i mad,I dont hear voices yet which is a good sign,ha ha
with the price action that we are seeing, the dollar will have a bullish day, tomorrow, that is the only explanation that I can offer for what is happening now.
  • #51,579
  • Jan 31, 2008 8:31pm Jan 31, 2008 8:31pm
dang!.

gu price action is really confusing, it looks like a roller coaster.
and Mr.King put things more confusing also.

He said uk fundamentals are strong and the worse has happened, also Brown reassured him in the job.

but yesterday. the man who was able to trick the uk financial system.
hint about uk is in a brink of a recession and is almost impossible to avoid it.
(George Soros)

so who to bellieve????
i certainly think the drop from 2.1000 to 1.93 was brutal and we are reversing some of the drop. but the thing is, will sterling keep gaining ground against usd???

taking into FED has cut rates aggresively and now the gap of interest is really big?

really connfusing the scenario of gbp


can someone add something that help clarify????.....
  • #51,580
  • Jan 31, 2008 9:15pm Jan 31, 2008 9:15pm
Quoting acidguy
dang!.

gu price action is really confusing, it looks like a roller coaster.
and Mr.King put things more confusing also.

He said uk fundamentals are strong and the worse has happened, also Brown reassured him in the job.

but yesterday. the man who was able to trick the uk financial system.
hint about uk is in a brink of a recession and is almost impossible to avoid it.
(George Soros)

so who to bellieve????
i certainly think the drop from 2.1000 to 1.93 was brutal and we are reversing some of the drop. but the thing is, will sterling keep gaining ground against usd???

taking into FED has cut rates aggresively and now the gap of interest is really big?

really connfusing the scenario of gbp


can someone add something that help clarify????.....

lol, you have been calling for a drop for some time, and this when you get confused?...............believe in youself dude, cuz I DO!!...................
...............ohh and btw, here comes your drop...........
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