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Daily Cable Analysis

  • #3,501
  • Jan 24, 2007 3:31am Jan 24, 2007 3:31am
Only a 5-4 majority in favour of the rate hike - totally unexpected and not good news for Cable.
  • #3,502
  • Jan 24, 2007 3:32am Jan 24, 2007 3:32am
Quoting obeewon



wow
exactly...seems like maybe the big push started as a leak?
  • #3,503
  • Jan 24, 2007 3:32am Jan 24, 2007 3:32am
Quoting marc
GBPUSD low so far: 1,9715.

Brokers say we could have seen cable's low for today.

Marc
I often wonder whether the brokers know any more about what the market is going to do than we do.
  • #3,504
  • Jan 24, 2007 3:36am Jan 24, 2007 3:36am
Quoting moonchild
I often wonder whether the brokers know any more about what the market is going to do than we do.
But you got to give them this: they have courage to make such statements in such market.
  • #3,505
  • Jan 24, 2007 3:38am Jan 24, 2007 3:38am
Fib Confluence held on close of 1600 tick(9700-9711), lets see where it goes from here. As I was in the bathroom, I started to wonder if exchange rate would weigh on the vote. Lets raise rates, but keep votes close to attempt to keep exchange rate stable - not affect exports - looks like other numbers came out a bit too hot though and now BOE may be forced to continue tightening.
Man who scratches ass should not bite fingernails
  • #3,506
  • Jan 24, 2007 3:39am Jan 24, 2007 3:39am
I take the sudden spike as a good news that cable will be going up now . Anybody wants to bet?
I am just here to talk nonsense =D
  • #3,507
  • Jan 24, 2007 3:42am Jan 24, 2007 3:42am
Hi!!

Quote
As long as we keep below 1,9753, next should be 1,9720 - 1,9694 - 1,9635 and 1,9621 - 1,9590 (very important that one).

Low so far: 1,9696.

Marc
  • #3,508
  • Jan 24, 2007 3:43am Jan 24, 2007 3:43am
Quoting aicccia
exactly...seems like maybe the big push started as a leak?
its soont to talk about great fall for gbp , if today we had a hot and positive news for usd then possible ....
but now we should wait and see

maybe next week
  • #3,509
  • Jan 24, 2007 3:46am Jan 24, 2007 3:46am
Quoting obeewon
shrt here @9734 t/p 9700.... downside could be limited to 9690-9670 if this area is broken we may see 9600 just my opiniion.. time will tell

that move was crazy jumped from 9743 to 9699 in seconds.... no thats fast money
  • #3,510
  • Jan 24, 2007 3:46am Jan 24, 2007 3:46am
Quoting aicccia
exactly...seems like maybe the big push started as a leak?

i agree
  • #3,511
  • Jan 24, 2007 3:48am Jan 24, 2007 3:48am
Hi!

We only need it breaking 1,9753 and holding and to the highs again.

Marc
  • #3,512
  • Jan 24, 2007 3:51am Jan 24, 2007 3:51am
Quoting obeewon
i agree
downward start if GBP price fix under 1.9680
  • #3,513
  • Jan 24, 2007 3:53am Jan 24, 2007 3:53am
Quoting marc
Hi!

We only need it breaking 1,9753 and holding and to the highs again.

Marc

No sir

1.9778
  • #3,514
  • Jan 24, 2007 3:57am Jan 24, 2007 3:57am

I am watching many brokers on live accounts.
I had the following results:

FXCM a spike to 1.9757 fixed 5 pips spread the down to 1.9693
FXsolution a spike to 1.9768 (!!!) with fixed 5 pip spread the down to 1.9693
FXDD a spike to 1.9753 with a limited wide 5 pip spread back to 4 now then down to 1.9695
InterBank FX ... 1.9743 then down to 1.9691, no spike!!!

Any feedback from other live accounts?

  • #3,515
  • Jan 24, 2007 3:59am Jan 24, 2007 3:59am
It's very common for the move of the European session to retrace before the New York session and then follow through with the trend when the Americans wake up. 1.9770-90 should act as resistance.
  • #3,516
  • Jan 24, 2007 4:00am Jan 24, 2007 4:00am
booking profit here to satisfy my urges and to allow more space to buy if retraces on no leverage
Man who scratches ass should not bite fingernails
  • #3,517
  • Jan 24, 2007 4:01am Jan 24, 2007 4:01am
i am so confused!!!!! wouldn't a rate increase make the pound go up??? it went up big time with the last rate hike, and the other numbers were higher than expected, which means there is all likely hood of another rate hike. that should be good for their economy, good for their currency.

am i missing something???
  • #3,518
  • Jan 24, 2007 4:03am Jan 24, 2007 4:03am
Quoting viking
downward start if GBP price fix under 1.9680


yeah i think you would be right. .. dont think price will go under 9680 b/c evenn in short term timeframe 1 hr we are still in an uptrend unless price goes below 9665 approx. just think market is looking for a good price to ride cable back up. however i have not gotten a signal to go long yet... to much risk right now imo...
  • #3,519
  • Jan 24, 2007 4:03am Jan 24, 2007 4:03am
it was somewhat priced in, and the 5-4 shpws that some belive another hike won't happen soon. GDP is supportive though.
TRADE FOR SWAP
  • #3,520
  • Jan 24, 2007 4:04am Jan 24, 2007 4:04am
Quoting mtrmth
i am so confused!!!!! wouldn't a rate increase make the pound go up??? it went up big time with the last rate hike, and the other numbers were higher than expected, which means there is all likely hood of another rate hike. that should be good for their economy, good for their currency.

am i missing something???
This response may not help you much, but I gave up long ago trying to "make sense" out of the market's movements following news releases. I would say that 99% of the time, the price does exactly the opposite of what I think it should do based upon my understanding of the news. Instead of trying to figure it out, I just try to focus on what the price is actually doing.
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