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Cable Update (GBPUSD)

  • #53,461
  • Feb 13, 2008 8:39am Feb 13, 2008 8:39am
anyone long in here??!
Trading is 80% Emotional, 20% Technical
  • #53,462
  • Feb 13, 2008 8:40am Feb 13, 2008 8:40am
buy the dips strategy until there is a daily close below 1.9400 double bottom
Trading is 80% Emotional, 20% Technical
  • #53,463
  • Feb 13, 2008 8:44am Feb 13, 2008 8:44am
Quoting fx local
buy the dips strategy until there is a daily close below 1.9400 double bottom
Correct
  • #53,464
  • Feb 13, 2008 8:51am Feb 13, 2008 8:51am
anything can happen but i prefer long position in the dips, there is no reason why cable should push lower than 1.9400 before testing 1.98/2.00 levels. euro sterling turning bearish also which will help propell cable higher, euro overvalued against sterling - this has contributed to cables demise but favor that trend to reverse now.
Trading is 80% Emotional, 20% Technical
  • #53,465
  • Feb 13, 2008 8:54am Feb 13, 2008 8:54am
Quoting giraia_br
everyone has this big spike on interbankfx? on north finance there is not this spike:
This doesn't show on FXCM or Deal Books 360. These used to show up on Oanda during news and if you lost money, you could protest the false spike and they usually gave it back.
  • #53,466
  • Feb 13, 2008 8:55am Feb 13, 2008 8:55am
Quoting fx local
anyone long in here??!
Present! Long @ 1.9600 targeting 1.9710 (Feb 05 high [intraday]) sl @ 1.9530 (1 pip below Feb 11 high) let us see how it goes.....
  • #53,467
  • Feb 13, 2008 9:12am Feb 13, 2008 9:12am
Quoting makey2u
Can someone answer this?
do you guys think we'll ever see the GBP move like it would at 2001-2006 daily charts? it would move one direction for almost 1000pips without retracing? And ya guys think it'll ever range less then 100 pips a day for like 2 or 3 weeks straight as it has in the past between the 2001-2006???? its 2008.. and im just loving the way the GBP moves.... its just.. to perfect it scares me..
no one?
And your mouth dropped
  • #53,468
  • Feb 13, 2008 9:13am Feb 13, 2008 9:13am
Quoting 4x_Trader
Present! Long @ 1.9600 targeting 1.9710 (Feb 05 high [intraday]) sl @ 1.9530 (1 pip below Feb 11 high) let us see how it goes.....
Fundamentally, The BoE left rates unchanged in Jan with the inflation report for Feb suggesting that the MPC remains concerned about the growth slowdown together with elevated concerns about CPI. It means that no threat for the BoE to continue with aggressive rate cuts in the near term.
  • #53,469
  • Feb 13, 2008 9:20am Feb 13, 2008 9:20am
Quoting makey2u
no one?
Sorry mate ,I dont think most of us even knew what the forex was in 2001
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,470
  • Feb 13, 2008 9:24am Feb 13, 2008 9:24am
My target is 585......................
  • #53,471
  • Feb 13, 2008 9:33am Feb 13, 2008 9:33am
Quoting Bones
Sorry mate ,I dont think most of us even knew what the forex was in 2001
yea but what up until 2006? well 2004 and 2005... look at those daily ranges... its just so ugly
And your mouth dropped
  • #53,472
  • Feb 13, 2008 9:52am Feb 13, 2008 9:52am
Quoting rav700
My target is 585......................
why not 1.9550 :...
  • #53,473
  • Edited 10:05am Feb 13, 2008 9:58am | Edited 10:05am
Quoting acidguy
why not 1.9550 :...
Yup will do after 1.9710!

PS: It's already 12:00AM here in Manila I need to take some rest all I can say is happy trading to everyone I love FF!
  • #53,474
  • Feb 13, 2008 10:08am Feb 13, 2008 10:08am
Quoting makey2u
yea but what up until 2006? well 2004 and 2005... look at those daily ranges... its just so ugly
Honestly never studied them ,though probably I should
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,475
  • Feb 13, 2008 11:00am Feb 13, 2008 11:00am
What about direction today Mike ,I see some consolation maybe drop down to 1.9570 then up with break out up tomorrow early morning over today’s highs .
I seeing bullish momentum building, or do you think im to focused on longs with that resistance above?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,476
  • Feb 13, 2008 11:10am Feb 13, 2008 11:10am
Quoting Bones
What about direction today Mike ,I see some consolation maybe drop down to 1.9570 then up with break out up tomorrow early morning over today’s highs .
I seeing bullish momentum building, or do you think im to focused on longs with that resistance above?
I would add i dont see any Bullishness Building in this Pair..
Its still Bearish..
I still favor the way its trading... And outlooks remain Bearish.
  • #53,477
  • Feb 13, 2008 11:20am Feb 13, 2008 11:20am
Quoting jacobtrader
I would add i dont see any Bullishness Building in this Pair..
Its still Bearish..
I still favor the way its trading... And outlooks remain Bearish.
i got that feeling too. however, cable been traded like thise since last oct.

i will short from anywhere near 19685.. pull back should start there.

what i am not comfortable with is how long this range trade will last
  • #53,478
  • Feb 13, 2008 11:21am Feb 13, 2008 11:21am
Quoting jacobtrader
I would add i dont see any Bullishness Building in this Pair..
Its still Bearish..
I still favor the way its trading... And outlooks remain Bearish.
Ok Jacobtrader,
At what point would you say the tide has turned, I can certainly see your bearish view, and was looking forward to your charts you mentioned
What’s the line that needs to be crossed for you ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,479
  • Feb 13, 2008 11:27am Feb 13, 2008 11:27am
Quoting jacobtrader
I would add i dont see any Bullishness Building in this Pair..
Its still Bearish..
I still favor the way its trading... And outlooks remain Bearish.
is this based on technicals or fundies ? - US fundies look worse than uk
  • #53,480
  • Feb 13, 2008 11:40am Feb 13, 2008 11:40am
BEWARE, king just opened his mouth and spoiled the party.

but still in my opinion, uk fundamentally dont deserve these leves in the pound. i bet this is a temporary reaction.
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