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Cable Update (GBPUSD)

  • #76,261
  • Jul 16, 2008 6:23am Jul 16, 2008 6:23am
Quoting Godzgreatgif
Any thoughts on where the GBP/USD will be headed after the major USD news events? ?
still holding short with the target of 9945
  • #76,262
  • Jul 16, 2008 6:36am Jul 16, 2008 6:36am
Quoting salah k.
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  • #76,263
  • Jul 16, 2008 7:07am Jul 16, 2008 7:07am
rumours in market of much higher CPI print
Trading is 80% Emotional, 20% Technical
  • #76,264
  • Jul 16, 2008 9:05am Jul 16, 2008 9:05am
http://www.house.gov/htbin/leave_sit...ervices&wait=2

watch bernanke hearing live
Trading is 80% Emotional, 20% Technical
  • #76,265
  • Jul 16, 2008 9:15am Jul 16, 2008 9:15am
Quoting fx local
http://www.house.gov/htbin/leave_sit...ervices&wait=2

watch bernanke hearing live
THANK YOU
  • #76,266
  • Jul 16, 2008 9:22am Jul 16, 2008 9:22am
Push push push dollar
  • #76,267
  • Jul 16, 2008 9:29am Jul 16, 2008 9:29am
You can do it waterboy!!
Imma do the things that i wanna do I ain't got a thing to prove to you
  • #76,268
  • Jul 16, 2008 10:12am Jul 16, 2008 10:12am
Reuters: Bernanke says may be conditions where currency intervention is warranted 10:56am EDT

So could this mean we going down? at least for a bit
  • #76,269
  • Jul 16, 2008 10:21am Jul 16, 2008 10:21am
Quoting DJ4x
Reuters: Bernanke says may be conditions where currency intervention is warranted 10:56am EDT

So could this mean we going down? at least for a bit
what do your technicals tell you??
  • #76,270
  • Jul 16, 2008 10:23am Jul 16, 2008 10:23am
Quoting DJ4x
Reuters: Bernanke says may be conditions where currency intervention is warranted 10:56am EDT

So could this mean we going down? at least for a bit
Intervention in currency markets and kidnapping and torture and wire tapping has always been done so it's nothing new - it isn't a new policy

Bought a truck load of Wells Fargo shares yesterday and got nearly a 30% hike in 24 hours - sold em - buy em back tomorrow

yippee

shares will drop back and oil will go back up and cable will rise to 2.04 and I will spend more and more on dentist's bills

That's my prediction
  • #76,271
  • Jul 16, 2008 10:28am Jul 16, 2008 10:28am
Quoting makey2u
naaaaww i dont see us passing 2.0, 2 reason for that;
1. it was weak to go near it.
2. UK is 6 months behind of US, so if us does good now, in 6 months so will UK (respectfully its 8 month.. but... whatever)
where did you go bro, hope you didnt get margin called. If you read your charts well, you should have seen it testing well over 2.0000 and going further!!

Happy Trading.
  • #76,272
  • Jul 16, 2008 10:33am Jul 16, 2008 10:33am
Quoting AmeriTrini
what do your technicals tell you??
My technicals tell me we going up, but there is a lot of speculation that UK is having a mini version of US trouble.
  • #76,273
  • Jul 16, 2008 10:34am Jul 16, 2008 10:34am
Quoting allserene
Intervention in currency markets and kidnapping and torture and wire tapping has always been done so it's nothing new - it isn't a new policy

Bought a truck load of Wells Fargo shares yesterday and got nearly a 30% hike in 24 hours - sold em - buy em back tomorrow

yippee

shares will drop back and oil will go back up and cable will rise to 2.04 and I will spend more and more on dentist's bills

That's my prediction
  • #76,274
  • Jul 16, 2008 10:35am Jul 16, 2008 10:35am
in technical way
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  • #76,275
  • Jul 16, 2008 10:50am Jul 16, 2008 10:50am
Quoting DJ4x
My technicals tell me we going up, but there is a lot of speculation that UK is having a mini version of US trouble.
but us british have stronger back bone than yanks!!!!! so cable will hold up and rally!!
Trading is 80% Emotional, 20% Technical
  • #76,276
  • Jul 16, 2008 10:54am Jul 16, 2008 10:54am
Quoting DJ4x
Reuters: Bernanke says may be conditions where currency intervention is warranted 10:56am EDT

So could this mean we going down? at least for a bit
intervention, if the US went in the FX market and bought dollars they would get sucked up in seconds!! they havent got any anything to buy with!!

the only intervention the FED can do is raise interest rates drastically, stop bailing out all the banks and debt holders by stop printing all the money... i mean current rates at 2% are well below inflation, negative interest rates thus a weakening dollar...
Trading is 80% Emotional, 20% Technical
  • #76,277
  • Jul 16, 2008 11:06am Jul 16, 2008 11:06am
Quoting fx local
intervention, if the US went in the FX market and bought dollars they would get sucked up in seconds!! they havent got any anything to buy with!!

the only intervention the FED can do is raise interest rates drastically, stop bailing out all the banks and debt holders by stop printing all the money... i mean current rates at 2% are well below inflation, negative interest rates thus a weakening dollar...
yep I am a good example in a micro sort of way..

my U.S.D.money market accounts yield zero point peanuts percent so I have emptied the accounts

My serious cash balances are in the UK at 6.67% fixed and I have no intention of buying USD until I can be tempted at 2.07+ with a prospect of rising US rates too

I guess the rest of the world thinks the same

A few months ago people were talking 1.82 and I had my finger on the trigger to move to USD but I didnt quite believe it - now that prospect is dim and distant yet ALL the big internet money sites were predicting that with certainty a few months ago - conclusion - my guess is as good as anyone's
  • #76,278
  • Jul 16, 2008 11:09am Jul 16, 2008 11:09am
k guys.... thanks for all your answers
  • #76,279
  • Jul 16, 2008 11:16am Jul 16, 2008 11:16am
Quoting allserene
yep I am a good example in a micro sort of way..

my U.S.D.money market accounts yield zero point peanuts percent so I have emptied the accounts

My serious cash balances are in the UK at 6.67% fixed and I have no intention of buying USD until I can be tempted at 2.07+ with a prospect of rising US rates too

I guess the rest of the world thinks the same

A few months ago people were talking 1.82 and I had my finger on the trigger to move to USD but I didnt quite believe it - now that prospect is dim and distant yet ALL the big internet money sites were predicting that with certainty a few months ago - conclusion - my guess is as good as anyone's
the only thing that could trigger a sharp move up in the dollar is the FED actually raising rates, fast and high. They have major financial crisis over there so raising rates would sink a few ships. there is no major real evidence suggesting that things will get that bad here in the UK - alot is already priced in. perhaps a change in US goverment and policy of excessive deficit spending bad foreign policy could strenghten the dollar, Obama may change things, therefore during/after the US election the dollar could turn...against the euro also

cable has had many chances to fall, support around 1.9400 was tested many times, so in hightsight the only way was up! 2.0400 does look likely at this stage but again anything is possible, nevertheless the upside now opening up is more probable than the downside
Trading is 80% Emotional, 20% Technical
  • #76,280
  • Jul 16, 2008 11:20am Jul 16, 2008 11:20am
mine says up too,,
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