Cable Update (GBPUSD)

1.9750 top of the tunnel.

The news is there to confuse...

not when its pretty straight forward. why dont you buy then?

fx local
bro no disrespect but im going through the minutes
and rate hikes are on the discussion table due to high unemployment fears and high inflation

can u check again and give me feedback because i know this is ur domain

I think that he should buy, if he does not want to short......
.......

LOL

man i think this move is a stop loss eater or carrera's analysis 9750 top of tunnel.

anyway good luck bro
im too to enter

Well I'm holdin short now, but either way once this news is digested (so to speak) then there going to be mad rush in whatever direction it chooses to go, so tight stops

First rates are cut, then they hold when they have exhausted cutting, after cutting comes hiking........hmmmmm.........sell the pound!!!

G/U will come down later.

As Long as no new daily high from yesterday's

totally with u on that
nav said i hate to go opposite direction to jamie
he was right

no position is a postion also, id prefer to on weak Uk retail sales figures..

at end why would i sell now?! my trading day over in UK... i try and stick to my own personal plan

if the FED were hawkish the markets obviously didnt beleive them.... last time i checked euro and cable at highs??

no disrespect to you my friend you do whatever your trade palns tells u to do it... all im saying is that the minutes are not as hawkish as expected, as they go not rule out cuts, the talk is slightly tougher but not a real change in policy accomdation..

good luck with your shorts, hope they work for you...

Nope, I closed my contract already. Why lose a nice big profit? At anytime could be a reversal back to low side of the tunnel.

..supposed to be short but oil is making dollar to weaken

were is moe when u need him

he still very hard.

Oh man thats funny lol ive not noticed the chicken

The minutes from the Federal Open Market Committee's April 29-30 meeting supported market expectations that the central bank would leave rates steady at 2.00 percent when they meet again in June. Indeed, the minutes said that "most members viewed the decision to reduce interest rates at this meeting as a close call. The substantial easing of monetary policy since last September, the ongoing steps taken by the Federal Reserve to provide liquidity and support market functioning, and the imminent fiscal stimulus would help to support economic activity."
As we already knew, FOMC members Richard Fisher and Charles Plosser voted against the 25bp rate cut to 2.00 percent and "felt the Committee should put additional emphasis on its price stability goal at this point, and they believed that another reduction in the funds rate at this meeting could prove costly over the longer run."
Meanwhile, most economic conditions have developed as the FOMC expected, including "continued weakness in economic activity," though "financial markets remained fragile and strains in some markets had intensified." Looking ahead, the FOMC judged that economic growth would be "weakest over the next few months, with many participants judging that real GDP was likely to contract slightly in the first half of 2008." Furthermore, the FOMC was extremely bearish on the housing sector and "participants saw little indication of a bottoming out in either housing activity or prices." Consumption was also judged to be a soft spot for the US, and the "restraint on spending emanating from weakness in labor markets was expected to increase over coming quarters, with participants projecting the unemployment rate to pick up further this year and to remain elevated in 2009." Indeed, projections for the unemployment rate in 2008 were revised up to 5.5 - 5.7 percent from 5.2 - 5.3 percent. Likewise, real GDP forecasts for 2008 were slashed all the way down to 0.3 - 1.2 percent from 1.3 - 2.0 percent.
Clearly, the downside risks for the economy loom very large and conditions are widely anticipated to get worse before they get better. However, the FOMC also revised their inflation expectations higher, with PCE anticipated to hit 3.1 - 3.4 percent, versus January's estimate of 2.1 - 2.4 percent. As a result, the broad pick up in price pressures will likely be enough to prevent the Federal Reserve from cutting rates again in June.

he doesnt strike me as the praying kind of guy


plus he still looks in profit

salah,

if they mentioned a change in policy stance yes i agree cable and euro would of been smashed lower and there would of have been instant gratification...alot of this was in statement last time around, thats my point, all priced in to a certain degree... im out watching footy now!

speak 2 ulater bro

i got ur point

tell us who wins