Cable Update (GBPUSD)

that news release at 12am UK monthly GDP estimates, some banks subscribe to the early release of this figure it costs £1k +vat, they would of had the figure by 11am,

http://www.niesr.ac.uk/gdp/gdpestimates.php

ok heres my daily ive got a possible support line on that .

NIESR Sees UK GDP At +0.4% In 3 Months To April, Unch Vs Mar May 07 / 19:01


--But Says Possible Slower Growth Trend Could Emerge From May
--Sees Case For BOE To Cut Bank Rate This Month
LONDON (MNI) - UK gross domestic product grew 0.4% in the three
months ending in April, according to the National Institute for Economic
and Social Research.
This was unchanged from the three months ending in March, NIESR
said.
The institute said that these quarterly growth estimates are still
being boosted by the buoyant figures seen in February, making it
possible that a slower growth trend could start to emerge from May.
The NIESR said that based on these latest estimates there was a
case for the Bank of England to reduce rates at its May Monetary
Policy Committee meeting tomorrow.

Well I was long for about 7hr and got only floopsie pips and now I gotta run so neither here nor there far as I am concern...maybe I'll get an earlier entry 6 hours from now...

l8r guys

Also the little uptrend was broken 30 mins ago....

that news release at 12am UK monthly GDP estimates, some banks subscribe to the early release of this figure it costs £1k +vat, they would of had the figure by 11am

That explains alot regarding news, you can likely get most of the RED items before hand in this manner to, ahhhhh to be rich hey and I guess alot of the others.

wow cable just doesnt want to retrace
strong southern momentum
the only thing that will change its mind is news tomorrow

1 Hr chart is turning bearish

Daily UTL in now history. But it will probably come back to test later on.

Jim

Minor support at 9480, daily bottom at 9388

looks that way

That is, if it breaks 9503

Could 8630 be next stop down the daily level

Loads of selling going on, which is the norm recently the days of a 90% safe pull back after a strong move and well gone atleast very rare.

This smells bad, everyone. Could we see a pullback from a 1 HR double bottom here??

Jim

bouncing off of double-bottom on 1hr...see if it holds...

peculiar price action during these midnight hours(UK time that is!)

I came back from dinner and waooo, this baby is so weak!!!

ok, i'll take a risk, for buy @ 1.9510, i hope could release it @ 1.9590, but will keep watching 9540 level..

phew.. busy day..

i dont know bro
euro is falling with no shame
perhaps the selling is in anticipation of tomorrows rate decisions(the sellers might know something we dont)
like a surprise of cutting rates that would kill cable or if there was a euro rate cut which is highly unlikely but very much needed. then that would kill bith euro and cable.