Cable Update (GBPUSD)

i saw ur update i just wondered y u entered at such a low point even though we didnt brake a support.

i see. Thanks.


do you know which one? If its large it should be known i guess.

nope dont know .. very difficult for retail traders to find these out .. even the biggies sometimes cannot .. though some news articles or market wraps such as UBS may cover it the next day

any breakout can be hi @ 490 and lo @ 425

simply its friday am not gona play in between

hey sal
usualy all US number are gr8 this week so am not looking for long , a lil bit optimist

I too was puzzled by the entry, although it was expalined that it was a 'system' entry so I guess you have to go with it.

The 1hr chart at the time is shown below, at that known support area, with the strongest pattern of regular divergence in the oscillators suggesting a bounce was far higher probability than a break.

On 1h cable is forming something like a rectangular and if we break 1.9429 support the target will be 1.9367,
well if we break 1.9360 the cable will make free fall
Peace

intraday picture is messy now anead of this U.s CPI data at 1330pm London.
9390-9328 is the effective 1hr congestion channel now. Need to see a break really either way. I suspect that there is an equal chance of a beartrap above it as there is of a bulltrap below given prevailing support/resistance/trend and upcoming U.s data

price is all over the place

wot u mean moe

well i guess u dont remember the numbers last week on friday
5.5%
i still cant believe it
cable pushed 200 pips up.

im hoping today the same thing might happen

cable been dragged lower by weak euro

LONDON, June 13 (MNI) - The euro was pressured lower by suggestions
from Irish broadcaster RTE that early results in the Irish Lisbon Treaty
referendum are seen favouring a 'No' vote.

Euro-sterling was pressured below stg0.7900, while cable has
retained a buoyant tone through the European morning session, cushioned
by demand between $1.9450/30.

STERLING SUMMARY: Opened early Europe at $1.9468, stg0.7932
-- Cable closed NY at $1.9466, with rate pushing to early highs in
Asia of $1.9489, as it tracked euro-dollar's early stop-driven rally.
Rate then eased in line to session lows of $1.9449 but enjoyed a
buoyant tone as euro-sterling, which had been pressured up to early
Asian highs of stg0.7947, retreated to stg0.7925 on general euro
weakness. Cable edged up to $1.9468 into Europe before easing back as
euro-dollar came under further pressure, taking euro-sterling down to
challenge stg0.7915 support, cable to challenge support at $1.9430.
Euro-sterling then dipped to stg0.7900 taking cable back toward
overnight highs of $1.9489, touching $1.9484. RTE reports that a no
vote is looking favoured in the EU Lisbon Treaty referendum dropped
euro-sterling to stg0.7872, while cable eased back to $1.9450.
-- Cable bids $1.9430, $1.9410. Offers $1.9485/00, $1.9520/25.
-- Euro-sterling bids stg0.7870/65, 0.7855/50. Offers stg0.7900

wow ,The dollar is on steroids isn't it,I lost my longs where I'm now short may just close out here if I get a 5 min signal.

sal , i wonder me and u only out of market till now

it's jumping around

cable seems unable to breakthrough the 1.9429-30 spot. If it does......??.....if it does, would you all presume a major fall off?

yep between 425 and 490 , levels of the breakout

where is abuawad today we didn't see his comments