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Cable Update (GBPUSD)

  • #62,681
  • Apr 24, 2008 4:35am Apr 24, 2008 4:35am
Lots of res.from 9770 to 9820
  • #62,682
  • Apr 24, 2008 4:53am Apr 24, 2008 4:53am
Quoting TraderJR
-0.4 % instead of the expected -0.3 % ??
yeah bro from 1.0 to -0.4 in one month is bad.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,683
  • Apr 24, 2008 5:00am Apr 24, 2008 5:00am
5min shown, 15 and 30min looking similar
Attached Image
ex member
  • #62,684
  • Apr 24, 2008 5:02am Apr 24, 2008 5:02am
Quoting salah k.
yeah bro from 1.0 to -0.4 in one month is bad.
But 13/14 of that was already expected...
Darkness lies one inch ahead..
  • #62,685
  • Apr 24, 2008 5:03am Apr 24, 2008 5:03am
Quoting hard1head1
Look familiar guys,
So you're expecting long?

Could it simply be a low range day? Already done 106 pips (Apr11 was 85, Mar21 51)
Darkness lies one inch ahead..
  • #62,686
  • Apr 24, 2008 5:05am Apr 24, 2008 5:05am
Quoting salah k.
yeah bro from 1.0 to -0.4 in one month is bad.

Is that not supposed to weaken GBP the more, but it doesn't seem to be reacting fast enough....
PIPS AND PIPS ONLY... + OF COURSE
  • #62,687
  • Apr 24, 2008 5:06am Apr 24, 2008 5:06am
Quoting TraderJR
But 13/14 of that was already expected...
u might be right but i was just talking about the bigger picture meaning what this number tells us about the economy.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,688
  • Apr 24, 2008 5:07am Apr 24, 2008 5:07am
Quoting kaka08
Is that not supposed to weaken GBP the more, but it doesn't seem to be reacting fast enough....
it is but the year on year retails sales was better than expected.
someone actually talked about it in this thread.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,689
  • Apr 24, 2008 5:09am Apr 24, 2008 5:09am
Yea JR, but there is a lot more res. to get thru today, than yesterday

Quoting TraderJR
So you're expecting long?
  • #62,690
  • Apr 24, 2008 5:09am Apr 24, 2008 5:09am
If we can get to 9830, I think we can roll
  • #62,691
  • Apr 24, 2008 5:12am Apr 24, 2008 5:12am
There is another reason, E/U and G/U are now in sync and there are tweezer bottoms on the E/U 15 min chart, and its moving up. I will keep my stops close though, since I am not as sure today as I was yesterday.
  • #62,692
  • Apr 24, 2008 5:13am Apr 24, 2008 5:13am
GBP/USD: Small Bids Holding A Thinning Market In The 1.9750"s London, April 24. Choppy price action again the theme following the breaking of an Asian range. This morning"s action has actually exceeded the overnight range both sides as U.K and European data impact the Pound through both spot and cross.
U.K retail sales, on an annual basis, came in stronger than expected in March but the April CBI industrial trends data has showed a marked deterioration in orders with the sharpest fall in 18-months recorded. Conversely the CBI price balance for the last three-months showed a rise to +21 from +13 in January.
The latest data highlights the dilemma facing the Bank of England as price pressures increase but growth slows.
GBP/USD has not reacted to the CBI results but there is very little bounce in Cable, which is now bogged down in the 1.9755-65 area. However, it looks like the price element is holding more sway than the orders data.
Trading is 80% Emotional, 20% Technical
  • #62,693
  • Apr 24, 2008 5:16am Apr 24, 2008 5:16am
Quoting hard1head1
There is another reason, E/U and G/U are now in sync and there are tweezer bottoms on the E/U 15 min chart, and its moving up. I will keep my stops close though, since I am not as sure today as I was yesterday.
I DON'T SEE GU HITTING 9820. THE DAY IS MORE LIKELY TO RIDE A BEAR. JUST THAT THERE'S BEEN TOO MUCH OF UNCERTAINTY.
PIPS AND PIPS ONLY... + OF COURSE
  • #62,694
  • Apr 24, 2008 5:22am Apr 24, 2008 5:22am
current intraday lows 9709 in region of that breeched decsending resistance trend line, now twice acting as support 4hr
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 24 KB
ex member
  • #62,695
  • Apr 24, 2008 5:26am Apr 24, 2008 5:26am
Yes it could make its way down the back of that DTL which was the top of that 4 hr falling wedge

Quoting kaka08
I DON'T SEE GU HITTING 9820. THE DAY IS MORE LIKELY TO RIDE A BEAR. JUST THAT THERE'S BEEN TOO MUCH OF UNCERTAINTY.
  • #62,696
  • Apr 24, 2008 5:32am Apr 24, 2008 5:32am
But until it breaks my trendline, I am long
  • #62,697
  • Apr 24, 2008 5:33am Apr 24, 2008 5:33am
hey guys i dont think its wise to open any position be4 dollar numbers come out and be4 u hear wat trichet has to say.

major news today so dont rely on technicals on such a cloudy day.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,698
  • Apr 24, 2008 5:36am Apr 24, 2008 5:36am
its a 50% chance....my outlook is bearish now i dont think 2.00 will be seen to now not comfortable buying on a bottom, cause i aint sure it is the bottom any more....lol
  • #62,699
  • Apr 24, 2008 5:57am Apr 24, 2008 5:57am
Quoting salah k.
hey guys i dont think its wise to open any position be4 dollar numbers come out and be4 u hear wat trichet has to say.

major news today so dont rely on technicals on such a cloudy day.
I think u're right, we still have more than 1hr.
PIPS AND PIPS ONLY... + OF COURSE
  • #62,700
  • Apr 24, 2008 6:04am Apr 24, 2008 6:04am
Hi Everybody,

My market order was hit, :so now holding two long positions. 1.9828 and 1.9755.... Major red news today so lets see what US brings us.
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