Cable Update (GBPUSD)

This is certainly going to be a unique day. I'm not entering until later.

i said it before.

i hate this line.

Shorting GU at 1.9740S will give very good risk/reward ratio. but will enter long at 1.9630 +/-3 pips if it get there this afternoon.
Be advised that most of my trades are counter trend so you need to have guts...

Cash is my friend right now as well! We'll see later!

Glad I put my shorts on earlier. Looking set up across the board for dollar rise.

so the scenario as i can see it is the dollar interest rate will not change today,
we might see i little rise of the price up.
but that's better for the US Dollar if there was no change in the rate.
so we will continue the downtrend tomorrow.

that's my point of view.

All day and we are back where we started at!!!!

That's usually pretty telling, no? :-)

-Liz

That is nice of you, stick your heads out and avoid the whipsaw

a big news ahead of us..everybody's waiting..

We need to be careful entering immediately cause all the brokers will have large spread at the news time. Let watch out for elongated spread.

GCI Trading dont change their spreads

But GCI trading has very high slippage in news trading..... Unfortunately, I've learnt that the hard way. Don't trade news anymore.

Hi guy .... how is your long ?

anyone still holding on to long??..me too...

Cable sustained a nice range for the 2 days of the fomc meeting.

Took twice the same trade, yesterday and today.

short - 1.9720 - 1.9670. Flat now, waiting fomc decision.

I gbpusd.

euro will go to1.56 and suck cable up in its vortex

..well done bro

i just hope we dont end up with a slow night
which actually might be the case

FED released ealry no change









Text: FOMC Announcement from June 24-25 Meeting Jun 25 / 14:10


--FOMC's April 30 Statement Follows for Comparison

WASHINGTON (MNI) - The following is the text of the statement
released Wednesday afternoon by the Federal Open Market Committee after
its monetary policy meeting:
The Federal Open Market Committee decided today to keep its target
for the federal funds rate at 2 percent.

Recent information indicates that overall economic activity
continues to expand, partly reflecting some firming in household
spending. However, labor markets have softened further and financial
markets remain under considerable stress. Tight credit conditions, the
ongoing housing contraction, and the rise in energy prices are likely to
weigh on economic growth over the next few quarters.
The Committee expects inflation to moderate later this year and
next year. However, in light of the continued increases in the prices of
energy and some other commodities and the elevated state of some
indicators of inflation expectations, uncertainty about the inflation
outlook remains high.
The substantial easing of monetary policy to date, combined with
ongoing measures to foster market liquidity, should help to promote
moderate growth over time. Although downside risks to growth remain,
they appear to have diminished somewhat, and the upside risks to
inflation and inflation expectations have increased. The Committee will
continue to monitor economic and financial developments and will act as
needed to promote sustainable economic growth and price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke,
Chairman; Timothy F. Geithner, Vice Chairman; Donald L. Kohn; Randall S.
Kroszner; Frederic S. Mishkin; Sandra Pianalto;
Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh. Voting against
was Richard W. Fisher, who preferred an increase in the target for the
federal funds rate at this meeting.
*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*
The following is the statement released by the FOMC on April 30,
2008:
The Federal Open Market Committee decided today to lower its target
for the federal funds rate 25 basis points to 2 percent.
Recent information indicates that economic activity remains weak.
Household and business spending has been subdued and labor markets have
softened further. Financial markets remain under considerable stress,
and tight credit conditions and the deepening housing contraction are
likely to weigh on economic growth over the next few quarters.
Although readings on core inflation have improved somewhat, energy
and other commodity prices have increased, and some indicators of
inflation expectations have risen in recent months. The Committee
expects inflation to moderate in coming quarters, reflecting a projected
leveling-out of energy and other commodity prices and an easing of
pressures on resource utilization. Still, uncertainty about the
inflation outlook remains high. It will be necessary to continue to
monitor inflation developments carefully.
The substantial easing of monetary policy to date, combined with
ongoing measures to foster market liquidity, should help to promote
moderate growth over time and to mitigate risks to economic activity.
The Committee will continue to monitor economic and financial
developments and will act as needed to promote sustainable economic
growth and price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke,
Chairman; Timothy F. Geithner, Vice Chairman; Donald L. Kohn; Randall S.
Kroszner; Frederic S. Mishkin; Sandra Pianalto; Gary H. Stern; and Kevin
M. Warsh. Voting against were Richard W. Fisher and Charles I. Plosser,
who preferred no change in the target for the federal funds rate at this
meeting.
In a related action, the Board of Governors unanimously approved a
25-basis-point decrease in the discount rate to 2-1/4 percent. In taking
this action, the Board approved the requests submitted by the Boards of
Directors of the Federal Reserve Banks of New York, Cleveland, Atlanta,
and San Francisco.

** Market News International Washington Bureau: 202-371-2121 **

[TOPICS: MMUFE$,MGU$$$,M$U$$$,MAUDS$]