Cable Update (GBPUSD)

Long term compression. Breakout will occur later this month.

Okay here is my prediction :-

Heads Long
Tails Short

It's tails, go short use a sensible stop and keep your fingers crossed.

if that works im stealing ur system

hehehe

Plot a 365MA and a 200EMA on the daily. See how price behaves around those 2 lines over time, breaks and bounces.

short 949 then long 0002

I see. Very deep.

Guru DarkStar wrote somewhere that for most traders, Forex is akin to running a casino.. Don't u just love it

My view for the week-
- Divergence on 1H will bring cable down to around1.9800
- MPC meeting Wednesday 7-2 hold is as good as not raising rates i.e. bad for cable,
- Retail Sales on Thursday does not look good. People are not spending i.e. retail fig. can’t be good
- USD figures this week could all come out as expected house sales, durable goods which will all be good for dollar bad for cable.

- Technically looks like an uptrend after retracment, Fundamentally it looks downs

All very confusing

USD may appear weak, but it's been said that USD weakness is already priced in... where-as the UK's issues haven't been vetted yet.

I don't really know what'll happen, obviously, but I'd like to see a bounce off the 365 followed by a prolonged short period. If the EURGBP continues to correct even with a falling GBPUSD that could be a lot of fun to watch, with the USD ending up in strength by being overpriced weak. Then we might see a top to the EURUSD run, lol.

Dunno, just think the irony would be appealing... lol. Would also be good for gas prices, I'm sick of seeing $3.36/gal on the sign near my house.

Naturally I'm not going to trade on these kind of speculations, anyone doing that is nuts in a major way.

The CoT report is short the cable, long the euro, long gold, long the dow interestingly enough, USD index is short tho.

little short @ 1,9991

Sl on BE

TP @ 1,9948

EDIT: TP missed by 1 pip, love it...

The Bank of England has announced details of a £50bn plan to help prevent the credit crisis causing more damage to the UK banking system and economy.
Banks will be able to swap potentially risky mortgage debts for secure government bonds to enable them to operate during the credit squeeze.
The Bank's governor, Mervyn King, said the scheme aimed to improve liquidity in the banking system. It should also increase confidence in financial markets, he added.

Laff, yet at this moment the pound is dropping like a rock... right after bouncing off my 365 SMA.

Technicals rule, fundies just drool. =)

Hey all, just like downtown. See post: http://www.forexfactory.com/showthre...0378&page=4145

I see my coin flip got it right forget all the research, just flip a coin, your odds are better cause it's 50/50 and chart is likely only gets it right 40% of the time sadly, yep worse than a coin flip.

It is not the chart that gets it right or wrong.

This ( 9830 ) may be as far as she goes, stiff daily sopport from Double Inside bottoms from 3/21 & 4/1

Jim

well my sell order got missed last night now watching for the test about 9800

There is an Morning Star forming on the 15 min. May be turning here,

Sorry, thats a morning star

Morning star turned into tweezer bottoms....Got to love it.

Jim