Cable Update (GBPUSD)

I think some big orders are being cut right now. This sucker should fly once thats all sorted out.

or there is a good event for $ coz all major pair r moving like hell

wich way???

yea gwb just resigned.

ecb maybe being dovish or something.

London, August 7. EUR/GBP, EUR/JPY & EUR/CHF are all being sold in the wake of the Trichet economic worries

ECB Chairman Trichet news conference after the EUR rate announcement.
He is being extremely bearish, bad for the EUR, therefore bad for GBP (I guess?) EUR down 80 pips in the last 20 minutes.

Is everyone in total shock, whats going on here?

Frankfurt - In a press conference following the European Central Bank's decision to keep its main refinancing rate unchanged at 4.25%, ECB President Jean-Claude Trichet said that current information has underlined the reasons for the 25 basis point hike in July.

During his speech, Trichet confirmed that inflation would remain at high levels for a protracted period of time.

The ECB president also stressed that there was a "strong determination" to keep medium-term inflation expectations anchored. However, Trichet acknowledged that the current monetary stance would contribute to the ECB's objective.

In addition, the ECB president conceded that real GDP growth will be "substantially weaker" than in Q1, but stressed that this weakness was technical in nature.

It is necessary to look through quarterly and monthly growth rates, Trichet said in his speech.

However, Trichet emphasized that the euro area economy did not suffer from major imbalances and stressed that the economic fundamentals were sound.

what to do what to do

give Trichet a cookie

http://event.netvision.de/basic_disp...7_stream_video

if you guys have enough margin.. i would relax and hedge or else reduce your positions and then hedge.. going up after the 430-380s is almost certain

down just like that..
huhu...caareful guys..

it will land at 1.9358

Pending Home Sales m/m better than forcast ( = ).93)

This is just trechet noise.. hes now confirming that the rate hike is working and they were right to do it..

Unpredictable for sure. However this plunge down should provide good opportunity to initiate long positions near 9420 and/or 9350. The first sign of recovery for me would be a clean break through 9535 for a start.

lmao must be people dying in here because the comments.

Let's change the name of the room to... THE COWBOY THREAD.

Trading news???? well be ready for the ride.

If you know to scalp, well many pips for you. If you DON'T, stay out of the kitchen. Dont do it without proper experience.

Here are some chart for newbies and accounts blowers.

By the way, when the set ups are good, no scalp for me. I just place my contracts according to my MM plan. Scalping? just 5 to 7 or 8 lots. Thats it. I don't want to losse my money on a risky trades.