Cable Update (GBPUSD)

1.9965 is good to short ... target 1.9818

it was good to short at 2.0100 , don't know about now. good luck

this one for you ricky :

No thats not a pin my friend.It shows indecision.If you want to see a pin look on your daily a few days ago.

please stop making fun of me

Bones, yes it might not have 'quite' been a pin but the big picture tells me a story. Lucky Jim wasn't around to clip me across the ear!

Yes the pin a few days ago was a nice one that I posted here: http://www.forexfactory.com/showpost...ostcount=59166

It worked out a treat.

lol

Definitly, this thread is more relaxing than my Hamaca.

Here's a part of my H1 chart, in case you want to take a look

Potential Support now:

a. 9940-50 being described as 'bids by mni, breeched 50% of 0152-9735 and breeched 38.2% of 0273-9735...a former 1hr/4hr swing too...Wkly pivot at 9942 also and area of breeched 61.8% of 9183-1162.

b. 9922-34 50% of 9735-0110, and 9758-0110

c. 9912 Dly S1 pivot area...bids to 9900 say MNI. breeched 23.6% of 0397-9735 and 38.2% of 0152-9735 in 9900-90 region

d. 9875-85 former 1hr/4hr/Dly swings area with 61.8% fibs of moves mentioned in point c. above. 9880 area of breeched 50% of 9361-0398

e. 9852 Tuesdays low

Sterling slides as BoE points to pound's downside

26 Mar 2008 - 11:15
LONDON, March 26 (Reuters) - Sterling fell against the dollar and headed for record lows versus the euro on Wednesday after Bank of England policymakers said the pound faced downside risks and reiterated a bias towards cutting interest rates.
BoE policymaker Charles Bean told a UK Treasury Committee that the risks to sterling were on the downside, given the size of Britain's current account deficit.
"Effectively we had Charles Bean saying that in all likelihood sterling will weaken," said James Knightley, senior economist at ING.
"It's very rare for a central bank to actually come out and admit that, so it's going to be a signal that sterling is going to be falling further over the next few months," he added.
By 1053 GMT the pound had fallen almost half a percent on the day to $1.9965 . The euro extended its earlier gains to 78.81 pence , up 1.14 percent on the day and on course for a recent record high at 79.12 pence.
Euro/sterling was aided by broader euro gains versus the dollar after German business confidence data came in much stronger than expectations.
The Bank of England has been trying to walk a tightrope between rising inflation and prospects for slowing growth as the economy braces for further fallout from the crisis in global credit markets.
BoE governor Mervyn King told the Treasury Committee that inflation was seen rising to around 3 percent, but also said the bank was still predisposed to cut interest rates from the current 5.25 percent.
He said the credit crunch, that erupted in August last year, had entered a new and difficult phase but the bank's Monetary Policy Committee had to maintain the growth/inflation balance.
A snap Reuters poll conducted last week found 22 of 56 economists expected the BoE to cut rates by a quarter point to 5 percent in April, while 34 said it will likely wait until May.
"King is relatively hawkish in regards to inflationary concerns and monetary easing will be only gradual," said Lee Hardman, currency strategist at BTM UFJ.

Long time I didn't post here on my favorite thread, I hope that everything is fine with you, now I have 3 open trades.
GBP/USD short triggered @ 2.0100 SL @ 2.0140 but I changed it to BE

GBP/JPY short triggered @ 201.00, I was lucky with this one, SL @ 202.00 but I changed it to BE, and another short @ 200.33 SL @ 201.00, I'm targeting below 190.00, I'm waiting for 196.60 to be broken followed by 192.60 to acheive my targets.

as chart: SBR...for now??

1hr has made a low (L) after the higher high (HH) which is below the last higher low (HL) of the uptrend, and now a Lower High (LH) ???

MNi talking about offers at 2.0000 and then 0030-50, 0026 being the breeched 23.6% of 9758-todays hi at 0110. and 50% of todays 0110-9747 fall, 61.8% of that being at 0048.

Above this and yesterdays highs at 0066 in view. My 1hr swings looking like this:

If you read back, there is a what we wouldn't expect and ofcourse it's pretty much done it perfectly!!


Those Funds are getting predictable recently

Nice buddy, Lol...so just got to run up from 9930 area and you are completely correct in your analysis...or did the MPC £ risks to the downside comments scupper that? ? We'll see

actually thats a sign that cable has no buyers
and going long is a drastic measure in the midst of such weak fundamentals.

wow dude u just totally shattered my faith in news...

Maybe bbmac, but scarily close enough for my likings.

Really was a no one would expect it to do that play, shame I over slept and missed it