Cable Update (GBPUSD)

if any1 is in a trade the direction has to be down huh? ...
i just this time wanna make sure im part of it ...is any1 long right now ..

Hi nAVIN,

I was long before the news, now close my position, and wait for another long when it retrace. Hope that news for GBP will be better then forecast. But we will see.

i have been thinking abt this..we moved down a fair bit yesterday and the new 4 hr candle has taken the direction of down.....its a major support area but the pervious 4hr rejected the upside...with the news today its on retail..

the news i think (i live here) is going to negative on retail sales..i think is going to go down today and its downhill bias as well..it take a brave man here to go long

Some interesting views on here, keep up the good work.

I was looking to long at 9740, possibly. I will let cable tell me when it's time to do it. Other than that I don't like to predict, it gets you into trouble if you believe you're right. There may be some upwards movement today for a little profit taking before the weekend on the shorts.

All the best

data came out strong

what a candle, good thinking but I don't catch it, it was too fast.
So end for today.

Happy Easter everyone.

wow huge retail sales figure 1% mom vs -0.2% cable to 19855

yeah .....movement fare to us

that high was a great chance to short the pound at a dip - I couldnt as it was too fast. I am still a bear!


is anyone else?

US Dollar Situation Very Disturbing Development... - Today, 04:28 AM

http://www.forexpeacearmy.com/forex-...velopment.html

Certainly the Fed is fast getting to the point where there will be no interest rate left to cut - just like Japan in the 90s

go on to bloomberg or youtube and listen to the views of Jim Rogers (legendary investor)

bah interesting. I wish i could read stuff like that, understand its place in influencing the market and make trading decisions...but i cant :'(

a small contribution to the discussion

initial kneejerk reaction Buy the £ across the board on better than expected Uk retail sales data [ +1.0% vs 0.8% prev and -0.2% forecast.] Gbpusd 4hr chart show the potential support area 9722-41 tested agian after price then ran down to it after the knee jerk data move up finding resistance at the previous 1hr swing high 9840 area that copincided with 23.6% of yesterdays hi to todays low 0149-9735 area.

The immediate post data Reversal set-up from that 9840 area resistance also posted.

Data in the uk recently shows employment still growing and now this far better than expected retail sales data. Inflation saw a sharp rise to 2.5% cpi headline, but is the credit crunch/crisis having that much of an effect (yet) in the real economy.? It seems that unlike the U.s where wall street's woes have tipped into main street, the same isn't yet as true in the Uk.??

so u saying we should be long as apposed to short ..i hope yur right about the kneee jerk cause im short....this is a dip i hope

I'm not drawing any market predictions from such fundamental analysis, ((i'm a tech trader) but it's interesting to note, particularly in respect of the decision for the BOE at next meet. Earlier this week a poss 0.5% cut was being talked up, with a high probability of at least a cut of 0.25%, but now who knows?

BOE's Mpc has already resigned itself to a rise in inflation and although cpi inflation is all thats it is targeted on, unlike the Fed...in reality it, like all central banks, whether explicitly or implicitly targeted to do so, seek to find a neutral rate that neither stokes inflation or hinders growth.

The weekly chart attached shows the resistance found at the upward sloping trendline/channel once breeched to the downside and re-tested from below, acting as resistance....and a doji candle for good measure...perhaps the clue for this week's eventual direction so far?

This chart shows that channel on weekly better:

posted from: http://www.forexblog.org/

Fed Rate Cut has Small Effect


On Tuesday, the Federal Reserve Bank lowered its benchmark federal funds rate by 75 basis points, its sharpest cut in decades. The markets initially reacted positively to the move, which was intended to shore up sagging confidence in the economy and financial markets. But the next day, most of the gains had been lost, as investors feared both that the recession has already begun and that the Fed is giving up on fighting inflation to battle the lost cause of the economy. In fact, as many analysts feel a recession is a foregone conclusion, the focus may soon turn to inflation, especially given exploding commodity prices and the sagging dollar. The New York Times reports:

"I'm disappointed," said an economist at Citigroup. "It's not as if we're trying to gauge policy priorities on a sunny day. I'd like to know how you're going to get inflation in an environment with suffocating financial restraint and pervasive slowing in demand."

yes my friend 2 evening stars and and diverence...hope it plays out..if we dont go down...i shal be so confused about trading cause it means anything can happens..we should today and next week see much loewer levels...