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Cable Update (GBPUSD)

  • #52,841
  • Feb 8, 2008 6:12pm Feb 8, 2008 6:12pm
Quoting Ash
Wish we got the rollover three times, Asian, European and American. We would be rich by now......lol
An Oceania rollover would also be nice.
  • #52,842
  • Feb 9, 2008 2:18am Feb 9, 2008 2:18am
Quoting forexmoments
An Oceania rollover would also be nice.
Yes it would be but you take what you can get in this dog eat dog world.
Humble Lifetime Member
  • #52,843
  • Feb 9, 2008 2:40am Feb 9, 2008 2:40am
ok so today is a saturday and it seems that the market did'nt deicide on a significant down or uptrend till the end of the week, so what do you guys think? what's awaiting us all on Monday, i strongly support those who feel i's going to go down...
I believe . . .
  • #52,844
  • Feb 9, 2008 4:24am Feb 9, 2008 4:24am
this currency is difficult to predict at the moment but i reckon we are going north...the reason why i say this is because the monthly chart shows a hammer..so i reckon this new candle forming going to end bullish.
the daily chart also shows a close higher than the prevous means the bulls are back in the field and prepared to fight ....god know how long its going to take but the next week definetely show this...otherwise i have to review all i know and start from scratch!!!

just a view.....im mostly likely wrong but its my 2 cents
  • #52,845
  • Edited 11:51pm Feb 9, 2008 6:32am | Edited 11:51pm
Hi,
It seem cable respect the Fibo 50% and rise up from it as the last two weeks, can we see cable try to test it for the third time next week if its broken cable will test 1.9200 and 1.9100
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  • #52,846
  • Feb 9, 2008 8:57am Feb 9, 2008 8:57am
Quoting Abuawad
Hi,
I seem cable respect the Fibo 50% and rise up from it as the last two weeks, can we see cable try to test it for the third time next week if its broken cable will test 1.9200 and 1.9100
Well spotted Abuawad price certainly seems to be respecting that fan
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #52,847
  • Feb 9, 2008 3:11pm Feb 9, 2008 3:11pm
G7 gives China nod on yuan as Europe keeps up pressure


G7 gives China nod on yuan as Europe keeps up pressure
Sat Feb 9, 2008 3:01pm GMT

TOKYO (Reuters) - Group of Seven finance ministers and central bankers gave China a slight nod on its efforts to unshackle the yuan and allow more appreciation, even as European officials kept up their pressure on Beijing for more action.

The final communique from the G7's Tokyo meeting on Saturday said "we encourage" the need for greater appreciation of the yuan, a slight softening from "we stress" in the communique from the last gathering in October.

The tweak in language comes as China has the let the yuan rise at a quicker pace against the dollar and the euro, especially after European officials made a visit to Beijing late last year and pressed the case for a broader rise in the Chinese currency.

Read More: G7 gives China nod on yuan as Europe keeps up pressure
  • #52,848
  • Edited 4:28pm Feb 9, 2008 4:04pm | Edited 4:28pm
Quoting Abuawad
Hi,
I seem cable respect the Fibo 50% and rise up from it as the last two weeks, can we see cable try to test it for the third time next week if its broken cable will test 1.9200 and 1.9100
Hi Abudawad,
that is a great fib ind, could you put it on here for us or tell us how or where to get it...
I meant fan, lol... That fan is wonderful, where did you get it if you don't mind sharing with us...

Thanks...

May the pips be with us all...
  • #52,849
  • Feb 9, 2008 4:23pm Feb 9, 2008 4:23pm
Quoting ghous
ok so today is a saturday and it seems that the market did'nt deicide on a significant down or uptrend till the end of the week, so what do you guys think? what's awaiting us all on Monday, i strongly support those who feel i's going to go down...

I think that we would all like to know, lol...

Thanks...

May the pips be with us all...
  • #52,850
  • Feb 9, 2008 5:13pm Feb 9, 2008 5:13pm
MEKKA LEKKA HIGH MEKKA HINEY HO... Jambi says to go long and catch the bounce. Boingggg....

Long live Jambi.
  • #52,851
  • Feb 10, 2008 12:20am Feb 10, 2008 12:20am
Quote
Hi,
I seem cable respect the Fibo 50% and rise up from it as the last two weeks, can we see cable try to test it for the third time next week if its broken cable will test 1.9200 and 1.9100

this bascially means that if on monday for the third time we see the price respect the 50% fib level, we'll see a good bounce which might go as down as 1.9100??
I believe . . .
  • #52,852
  • Feb 10, 2008 12:37am Feb 10, 2008 12:37am
Quoting TradeHound
Hi Abudawad,
that is a great fib ind, could you put it on here for us or tell us how or where to get it...
I meant fan, lol... That fan is wonderful, where did you get it if you don't mind sharing with us...

Thanks...

May the pips be with us all...
They are GANN lines.
  • #52,853
  • Feb 10, 2008 1:21am Feb 10, 2008 1:21am
Quoting Abuawad
Hi,
It seem cable respect the Fibo 50% and rise up from it as the last two weeks, can we see cable try to test it for the third time next week if its broken cable will test 1.9200 and 1.9100
One goodest post what i ever seen here ! My charts says same.
I hold allready 1.9215 Target from last week .
  • #52,854
  • Feb 10, 2008 3:00am Feb 10, 2008 3:00am
Quoting TIckerShuffl
They are GANN lines.
Looks like a fib fan to me ,either way they are right there in your MT4
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #52,855
  • Feb 10, 2008 5:42am Feb 10, 2008 5:42am
Quoting FXdaily
One goodest post what i ever seen here ! My charts says same.
I hold allready 1.9215 Target from last week .
Nice to see you agree with me
  • #52,856
  • Feb 10, 2008 6:07am Feb 10, 2008 6:07am
those fib fan lines are the first i ever seen of them..definetely looks like there respected ...but why do u guys think we still going down south?
  • #52,857
  • Feb 10, 2008 7:11am Feb 10, 2008 7:11am
GU will back up..100% sure
{Link Removed}]
  • #52,858
  • Feb 10, 2008 7:37am Feb 10, 2008 7:37am
Quoting Bones
Looks like a fib fan to me ,either way they are right there in your MT4
I stand corrected, not quite Gann lines. Although Gann lines show similar support, at 1/2 retrace, the next downside would be limited to the 1.8650 area and climbing.

Either way, it's a big mystery. Not worth trading the two most unstable major currencies in the world right now.
  • #52,859
  • Feb 10, 2008 8:09am Feb 10, 2008 8:09am
Quoting kenari05
GU will back up..100% sure
Looks like we have differing opinions.
  • #52,860
  • Feb 10, 2008 10:09am Feb 10, 2008 10:09am
weekly review.... GBP/USD:

Economic data from the US were generally poor. In particular, the business activity component of the ISM non-manufacturing index, which was formerly the headline index, dropped sharply from 54.4 to 41.9 in Jan. Readings below 50 indicates services industries, which contributes to almost 90$ of the US economy, is contracting and such a poor reading of 41.9 was the worst since 2001. The composite index, which is now the headline index, dropped sharply from 53.2 to 44.6 too. Employment component also dived into contraction territory at 43.9 too.
Initial jobless claims fell by 22k to 356k for the week ending Feb 2. The initial claims now held above 350k for the fourth time since the breakout of the subprime problems. Pending home sales fell 1.5% in Dec and Nov's decline was revised from -2.6% to -3%. The pending home sales index, which leads existing-home sales by one to two months, points to another decline in existing-home sales. Regionally, pending home sales fell in all but the Midwest, where they rose 4%. Q4 productivity growth surprised on the upside and rose 1.8% but labor costs missed expectation by rising 2.1% only.

BoE cut rates by 25bps to 5.25% as widely expected and issued a dovish statement which signaled further rate cut is underway. The statement pointed out that "output growth abroad have deteriorated and the disruption to global financial markets has continued." Also, "credit conditions for households and businesses are tightening/" in UK. While higher food and energy prices would raise inflation, the impact could "fade later in the year". "The committee needs to balance the risk that a sharp slowing in activity pulls inflation below the target in the medium term, against the risk that elevated inflation pressures keep inflation above target." Markets will now look into the Inflation Report on Feb 13 and Minutes on Feb 20.

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