Cable Update (GBPUSD)

Dollar Charges Ahead Versus Euro And Sterling Despite Grim Outlook For US Economy


(RTTNews) - The dollar gained on the euro and sterling but gave back its early gains versus the yen on Tuesday in New York. Markets worldwide were roiled when US data from the Institute of Supply Management revealed that activity in the service sector unexpectedly contracted for the first time since March of 2003.

The ISM said that its index of activity in service sector fell to 41.9 in January from a revised 54.4 in December, with a reading below 50 indicating contraction in the sector. Economists had expected the index to edge down to 53.9. The data prompted many analysts to predict that the US economy was entering a prolonged period of recession.....

Read More (full story) : Dollar Charges Ahead Versus Euro And Sterling Despite Grim Outlook For US Economy

I still think Cable will still go down towards 1.93 before we see price break last years high.

short and ur loosing again?...what happened to your SL at 9600,seems you dont follow ur own rules!

i hate to say i told u but ur stop would have been saved if u would move it under the 61.8 maybe next time u will learn from ur mistakes next time. good luck

what do you think about GU today ?

which one is better, buy or sell

At this point I wanna say short from 19660-65 to at least to 19600-550, maybe lower 500 but probably not, after that back up, we'll see what happens soon :-)

Can i ask ...
when economy is bad. will USD or GBP is stronger. Traditionally is USD.
Right?

From this pair and other pair, i see USD strengthen.

From daily and weekly charts, i see correction/ reversal. Perhaps in short term, is downtrend.

anyoen share the same sentiment ?

Cable playing on the 50% Fib on the 1H trying to see where to go. IR cut priced in yesterday, I think we will go up to around 1.9720 for today. tomorrow and rest of the week up up and away. I cant see it going back down to 1.9350. Lowes is Fib 61.8% @1.9574. IMO.

I'd just stay away from this pair. IMO. Why torture yourself with it? Looks long, but hard to put money in GBP when finance industry is in such trouble.

Good morning everyone,
Yesterday was a good for dollar, lets see if it will keep good for it today.
My personal opinion cable will show resistant at 1.9670~1.9685 area and not more than 1.9810. drop from there to 1.9625, 1.9600 and 1.9585.
Also there will be a goodsupport at 1.9625~ 1.9600 from there cable can be rise to 1.9675, 1.9700 and 1.9735 under condition no break for 1.9575.

Remember today there are lots of news for US$.

Happy trading.

My opinion cable will go up today & will break yesterday high.

From what I can see G/U still has some room to go south yet some more,
but not much below 9600 before I R decision. I feel that a .25 cut may
already be priced in by now. Yet there has been mention of a possible .50
cut which would send G/U down to a possible 9400 area before recovery.
This may keep G/U somewhat stagnant for a couple days as I feel few will
buy sterling as long as a .50 cut is possible.

E/U probably has a better possibility to move back up (4700 / 4740 area)
then sterling does (9700 / 9715 area) over the short term. Both could still
go south if for some odd reason US news in AM is positive, but I would give
less then 50% odds of that being the case.

It may be that both G/U & E/U may have found a temporary bottom for now

It may be a good time to sit back for a while with tall cold one or two and
let the market come to you / us. The again I could be totally wrong and all
hell could break loose in either direction :-)

I had a good night last (250+) night, so I think I will stand aside for a while

As always these a just my views and not to be used as trade calls - Thanks!

i think cable will try to hit 1.9575 area today, & waiting news about IR cut tomorrow...

IMHO, it will go down 1st below 1.9605 an then price is likely to rise in at least three waves carrying to at least near 1.9787.

cable is up - i am long from 1.9649 target is 1.9690

cable will huge downfall today so be ready for that
but let me check first where the cable stop the going upside

Ok guys GBP/USD will see another fall today around 100-150 Pips more

nice for telling this.. whatever you say it happens the opposite!

so today will be long.

Hahaha.. check previous posts.. you will come to know.. hehe.. there is no potential for GBP/USD to be long today..

Same boat with u, TP 1.9580 Waiting for ur magic Buddy