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Cable Update (GBPUSD)

  • #5,601
  • Feb 9, 2007 2:24am Feb 9, 2007 2:24am
Anybody know a reason why we shouldn't revisit 9300 or lower next week?

http://img205.imageshack.us/img205/3576/70527861br5.gif
  • #5,602
  • Feb 9, 2007 2:25am Feb 9, 2007 2:25am
Gosh, there is so many factors for the surprising move, look at eur/gbp....nothing happened there..
I am just here to talk nonsense =D
  • #5,603
  • Feb 9, 2007 2:29am Feb 9, 2007 2:29am
Quoting Zarul Shahrin
Gosh, there is so many factors for the surprising move, look at eur/gbp....nothing happened there..
Yes

This is what kills me when yen pairs are on the move. Like today G/U and U/J went down together, right? But now that U/J retraces, G/U doesn't. On next push down on U/J you are clueless of what is going to happen
  • #5,604
  • Feb 9, 2007 2:31am Feb 9, 2007 2:31am
So, I'm Long on GBP/USD and down around 70 pips... should I close or hold my nreve????????????
answers on a postcard please
  • #5,605
  • Feb 9, 2007 2:32am Feb 9, 2007 2:32am
Quoting ghamal
Anybody know a reason why we shouldn't revisit 9300 or lower next week?

Yes , Why GBP should GO UP when they had no point , now USD are powerful and GBP didn't change its interest rate ....


now 1.9530 breaked and waiting for 1.9480
  • #5,606
  • Feb 9, 2007 2:36am Feb 9, 2007 2:36am
Quoting rooney
So, I'm Long on GBP/USD and down around 70 pips... should I close or hold my nreve????????????
answers on a postcard please
not yet, wait until after the news, if it's a down movement, wait till it retrace then only close...it will minimize your lost...RSI is showing oversold, closing it now and short might get things against you...
I am just here to talk nonsense =D
  • #5,607
  • Feb 9, 2007 2:36am Feb 9, 2007 2:36am
Quoting rooney
So, I'm Long on GBP/USD and down around 70 pips... should I close or hold my nreve????????????
answers on a postcard please
We are not god

but wait for 1.9480
if it break then maybe will far will 1.9430 or more ...

do you have enough margin??
  • #5,608
  • Feb 9, 2007 2:38am Feb 9, 2007 2:38am
Considering so much volatility in the cable - the Trade Balance for december should give 50-70 pips. Lets look at it fundamentally - The pound was not very strong in december - However the UK manufacturing index was on the upside and oil prices had eased - as such i would assume the trade balance to be better than forecast - If that is the case then there could be a flurry of buys on the cable and give good pips.

If it comes worse than expected, i wouldnt imagine a move more than 20 pips because of what has happened in the last hour - the pound has taken a beating and the downside is now limited compared to the upside.

What do you guys think ?

Regards,
Girish
  • #5,609
  • Feb 9, 2007 2:41am Feb 9, 2007 2:41am
Thanks... do appreciate you are not God... but believe me you are compared to me and in trading terms.

what time is the news due today?
  • #5,610
  • Feb 9, 2007 2:42am Feb 9, 2007 2:42am
I expect a retrace to 38 fib of this move
  • #5,611
  • Feb 9, 2007 2:44am Feb 9, 2007 2:44am
1.9485!!!
  • #5,612
  • Feb 9, 2007 2:45am Feb 9, 2007 2:45am
Quoting viking
1.9485!!!
Hey! Not so fast Viking... I had 9486 here
  • #5,613
  • Feb 9, 2007 2:47am Feb 9, 2007 2:47am
Quoting 59fender
I expect a retrace to 38 fib of this move
Expecting that as well...
Trade what you see, not what you think.
  • #5,614
  • Feb 9, 2007 2:50am Feb 9, 2007 2:50am
Look at the tick, 1, 5, 10 min charts - not much momentum left on the downside - i am talking a quick 15 pip scalp to go long as im sure there would be pre-emptive buyers before the trade balance report.

going long on 1.9497 - wish me luck

Girish
  • #5,615
  • Feb 9, 2007 2:52am Feb 9, 2007 2:52am
Quoting rooney
Where would the retrace take us to?
1.9577 to 1.9615
I am just here to talk nonsense =D
  • #5,616
  • Feb 9, 2007 2:53am Feb 9, 2007 2:53am
eur/usd already moving up, a good sign for us as long as there is no surprising move on the news release...
I am just here to talk nonsense =D
  • #5,617
  • Feb 9, 2007 2:54am Feb 9, 2007 2:54am
Many thanks
  • #5,618
  • Feb 9, 2007 2:56am Feb 9, 2007 2:56am
triple bottom low higher close?
  • #5,619
  • Feb 9, 2007 2:58am Feb 9, 2007 2:58am
Quoting Zarul Shahrin
eur/usd already moving up, a good sign for us as long as there is no suprising move on the news release...

i wouldnt want to move into eur/usd just yet - if trade balance is better than expected - last nights EUR/GBP could start falling and with a weak EUR/JPY - EUR/USD will be bound to go down. Rather trade cable than eur at the moment

Girish
  • #5,620
  • Feb 9, 2007 2:59am Feb 9, 2007 2:59am
If the market decided to go up today instead of continue going down, the possible target considering today low is 1.9600...
I am just here to talk nonsense =D
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