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Cable Update (GBPUSD)

  • #80,541
  • Aug 7, 2008 5:57am Aug 7, 2008 5:57am
Quoting tma_21
agree with u about the rate..
i think its stay at 5%
however..if its change maybe can give some impact..
maybe..just my 2cents
  • #80,542
  • Aug 7, 2008 6:02am Aug 7, 2008 6:02am
hi guys
do any body know that where we are going? 'm still looking it strong, (USD) wht would be our decisions about GBP/USD that where we should take a possition or we should wait more?
  • #80,543
  • Aug 7, 2008 6:05am Aug 7, 2008 6:05am
no impact
we'll get asleep here
  • #80,544
  • Aug 7, 2008 6:07am Aug 7, 2008 6:07am
Well so far , no impact at all. I'm thinking long as soon as it digests.......
  • #80,545
  • Aug 7, 2008 6:09am Aug 7, 2008 6:09am
hang on everyone...
HERE COME THE WAVES...
  • #80,546
  • Aug 7, 2008 6:09am Aug 7, 2008 6:09am
Quoting ilyasdia
hi guys
do any body know that where we are going? 'm still looking it strong, (USD) wht would be our decisions about GBP/USD that where we should take a possition or we should wait more?
this snail was supposed to go up
maybe we have to wait and see
  • #80,547
  • Aug 7, 2008 6:09am Aug 7, 2008 6:09am
Quoting for_idea
no impact
we'll get asleep here
n
  • #80,548
  • Aug 7, 2008 6:11am Aug 7, 2008 6:11am
Quoting spintrader
For those holding shorts, I'm intrigued, it has basically just dropped 400 pips without any significant retracement- how much longer are you expecting it to continue? I agree that in the medium term it probably will fall, but I will hang on for a much better entry, maybe in the 700-800 range.

I guess if they cut rates, then shorting will prove to be a very good idea, but I think they will hold.
What if they hold rates and data out of USA looks good?
Right now that seems likely - falling may continue before going up.
But for today, I think it may go up a bit, before falling again.
  • #80,549
  • Aug 7, 2008 6:12am Aug 7, 2008 6:12am
Quoting tma_21
n
there is no move before the U.S news
this is cable
am out guys catch u later

N.B scalping some pips is a big risk right now as price can fly any moment be carefulll
good luck
  • #80,550
  • Aug 7, 2008 6:23am Aug 7, 2008 6:23am
if anybody is interested this is the weekly chart from April 06.

you can plainly see that when cable broke up out of the range it didn't look back.
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  • #80,551
  • Aug 7, 2008 6:27am Aug 7, 2008 6:27am
There is a good reason why we will continue to have a ranging market. BOE won't cut rate due to inflation and Fed can't raise rate yet due to housing/financial crisis. I think in terms of risk-reward ratio, buying sterling in the 9400-9500 is/was still a good deal. As long as price stays above 9330, there is a very good chance of a large retracement back to at least 9750 and probably to the top of the triangle with a final stab at 2.0 before plunging down below 9330. Both momentum and volume analysis is also beginning to support this view.

Besides, all other USD pairs seem to be gasping for a respite rally, which I believe will be the 2nd wave of a long-term 5 wave decline. Of course depending on the time frame you are trading, you will need to make your own decisions.
  • #80,552
  • Aug 7, 2008 6:28am Aug 7, 2008 6:28am
Wham, and on to 9580
  • #80,553
  • Aug 7, 2008 6:30am Aug 7, 2008 6:30am
i am targeting 600 to 640 then we decide if it will reverse or continue going up
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  • #80,554
  • Aug 7, 2008 6:52am Aug 7, 2008 6:52am
and here is small picture
Attached Image (click to enlarge)
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  • #80,555
  • Aug 7, 2008 7:02am Aug 7, 2008 7:02am
Pound lovers, please for give me. I got lost in the Euro room. That was funny.
Don't Get Bitter, Get Better
  • #80,556
  • Aug 7, 2008 7:13am Aug 7, 2008 7:13am
Quoting NuB
Pound lovers, please for give me. I got lost in the Euro room. That was funny.

- 5 pips from u r account
  • #80,557
  • Aug 7, 2008 7:24am Aug 7, 2008 7:24am
There is a good reason why we will continue to have a ranging market. BOE won't cut rate due to inflation and Fed can't raise rate yet due to housing/financial crisis. I think in terms of risk-reward ratio, buying sterling in the 9400-9500 is/was still a good deal. As long as price stays above 9330, there is a very good chance of a large retracement back to at least 9750 and probably to the top of the triangle with a final stab at 2.0 before plunging down below 9330. Both momentum and volume analysis is also beginning to support this view.

Besides, all other USD pairs seem to be gasping for a respite rally, which I believe will be the 2nd wave of a long-term 5 wave decline. Of course depending on the time frame you are trading, you will need to make your own decisions.

Shahib, you echo my hopes after having gone long 1.9585 on Monday...admittedly, cable is unpredictable in the glaring light of technicals.
Linqtrader
  • #80,558
  • Aug 7, 2008 7:31am Aug 7, 2008 7:31am
US can't fudge that number..
USD Est Non Mortuus
  • #80,559
  • Aug 7, 2008 7:38am Aug 7, 2008 7:38am
oh yea of course price should drop! Because people out of work actually helps the currency
USD Est Non Mortuus
  • #80,560
  • Aug 7, 2008 7:39am Aug 7, 2008 7:39am
this is cable guys
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