Cable Update (GBPUSD)

Happy happy birthday!

happy birthday to you happy birthday to you happy birthday to CLOUDS happy birthday to youuuuuuuuuuuuuuuuuu

lets celebrate with pips. Hip hip hip hurray.

Party at Clouds' place

Bullish divergence confirmed, Going up lets see how high and how long.

what is cable doing right now

I go the the bathroom and come back to find my shorts from 1.9790 were closed out at 1.9765. I thought we would have trouble around 1.9745 area, we didn't even get there and it did one hell of a pull back.

My simple analysis and reason why i am short GBP (medium term - atleast 3-4 days trade)

- Fundamentals - UK economy is heading for a fall - its pretty transparent now - some might say - so what - US is pretty much the same or worse - the difference is China / Japan / Saudi / .... etc .. all hold US debt and US currency - no one holds GBP (atleast not that much) - so if both US and UK were in the same position - UK would loose hands down.

- Technical - See chart - The long term trend is DOWN - The medium term trend is DOWN. The current price is near 38.2% Fib - almost sure to atleast test 50% (1.97) and some. In the past 6 weeks - everytime GBP has had a rally on the daily - its followed by atleast 2 days of consolidation (averaging things out here) - that tells us what the big players do when price goes up.

my 2 cents on why i am short.

if long comes into play expect 1.9980, if short comes into play expect 1.9600. get in were you fit in.

in the 70's, and 80's in short, in the 10's and 20's i'm long , SL 9800

atm long look strong, if it crosses over 1.9800 watch out now.

I think you gave me a bug. Lately my triggers have not been getting hit.

I'm leaving my pending long order open for 1.9810.

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Congratz Cloud. Happy pips by short friend.

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NUB