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Cable Update (GBPUSD)

  • #5,961
  • Feb 14, 2007 1:38am Feb 14, 2007 1:38am
USD is moving. All major pairs are following it. Watch out for a breakout. Just my opinion.
Tra-X
  • #5,962
  • Feb 14, 2007 1:48am Feb 14, 2007 1:48am
[UK TODAY: HEAVY SLATE, 1.95 SELLERS LINE UP] Contacts talk of multiple account offering interest into the 1.9480/00 region currently. Although stops are tipped on a break above 1.9510 (pre softer than forecast CPI levels), the former looks set to dominate for now. It is a heavy UK slate today, and on first glance, it could prove fairly Gbp negative

Actually it's being an Euro move. Yen is fighting its support and CAble its resistance. I'm still out.
  • #5,963
  • Feb 14, 2007 1:54am Feb 14, 2007 1:54am
I love scalping during frankfurt..
I am just here to talk nonsense =D
  • #5,964
  • Feb 14, 2007 1:58am Feb 14, 2007 1:58am
What I am seeing is a little drop at the early london open before a movement up...
I am just here to talk nonsense =D
  • #5,965
  • Feb 14, 2007 2:02am Feb 14, 2007 2:02am
Quoting Traex
USD is moving. All major pairs are following it. Watch out for a breakout. Just my opinion.
When you say USD is moving - do you mean down?
A breakout ? - Which direction and what tmeframe?
Thx.
  • #5,966
  • Feb 14, 2007 2:05am Feb 14, 2007 2:05am
If you can keep your head while all others are going insane,

looking at the prices and starting to complain,

worrying that their account is starting to wain.

Then you aren't watching the charts!
  • #5,967
  • Feb 14, 2007 2:06am Feb 14, 2007 2:06am
Quoting Zarul Shahrin
What I am seeing is a little drop at the early london open before a movement up...
It will be hard to turn this momentum around, looks like the up trend will continue after some resistance.

I for one read trend wrong and am cutting losses now.
  • #5,968
  • Feb 14, 2007 2:11am Feb 14, 2007 2:11am
Quoting darnell
If you can keep your head while all others are going insane,

looking at the prices and starting to complain,

worrying that their account is starting to wain.

Then you aren't watching the charts!
Should that be part of a lyrics to a rap song written by a forex geek?? LOL!
I am just here to talk nonsense =D
  • #5,969
  • Feb 14, 2007 2:25am Feb 14, 2007 2:25am
pin bar forming on the 30m and 1h. Still lots of time before confirmation.
  • #5,970
  • Feb 14, 2007 2:28am Feb 14, 2007 2:28am
will the news be gbp positive or negative?
I am just here to talk nonsense =D
  • #5,971
  • Feb 14, 2007 2:51am Feb 14, 2007 2:51am
Quoting pdhawan
pin bar forming on the 30m and 1h. Still lots of time before confirmation.
OK, so are you long, short or scared????
  • #5,972
  • Feb 14, 2007 2:53am Feb 14, 2007 2:53am
Zarul, I am looking to position for cable negative news. Price action in the next 1/2 hour should tell the tale.
  • #5,973
  • Feb 14, 2007 3:04am Feb 14, 2007 3:04am
Short @ .9521 needs to break R1 @ .9504 looking to exit @ piviot of .9457
we shall see....
  • #5,974
  • Feb 14, 2007 3:13am Feb 14, 2007 3:13am
I say this is a day not to trade. Not because news are uncertain. But there are key announcements that may set the tone until mid-March, like BOE and Fed Bernanke

Too bad this couple of announcements come at a level it is hard to tell if we're already moving up or not. I mean, key info in a possible reversal or a false breakout off of the channel.

I didn't "buy" this low at 9401. Not a fight or whipsaw, stop hunting nothing. This is an alert to me... I was actually flerting with the downside since Frankfurt opened below 9500. I've read about dip buyers below 9400, that never happened yet.

To resume and ensure bulls back, price have to breach and close above 9560, other wise, we're having a very common fake breakout here.

Euro has just taken out its medium term resistance, but Euro up and Cable down is still on the table for they seem to be correcting the disparity of GB rate hike. We have to see how Cable will perform in the eventual retracement Euro is going to have soon, for it is on the upside for too many hours.All indicators are extreme.
  • #5,975
  • Feb 14, 2007 3:22am Feb 14, 2007 3:22am
And last but not least. USD is off the table for a long time. Just ranging... Yesterday was USD-index down. But didn't touch its bottom.
  • #5,976
  • Feb 14, 2007 3:28am Feb 14, 2007 3:28am
This may be the key...

[FOCUS COMMENT: NOT SO SIMPLE] now for Cable as y/day's benign CPI 'shocker" throws a spanner into the works ahead of today's BoE Quarterly Inflation Report. BoE Gov King has previously stated that inflation could go down sharply in H2 2007, but in the meantime mkts had been geared up for a possible breach of the 3% BoE target range ceiling.
  • #5,977
  • Feb 14, 2007 3:28am Feb 14, 2007 3:28am
The British pound lost value against the Euro and struggled to rally against the US dollar today after consumer prices fell short of expectations. Consumer prices dropped a more than expected 0.8 percent in the month of January, while core prices increased by a more than expected 1.6 percent. This follows yesterday’s disappointment in producer prices and suggests that the Bank of England Governor could lean towards a more neutral take on inflation. However before jumping into a short pound trade, it is important to note that even though inflation is lower in the month of January, it could rebound in the coming months. In addition to the BoE Quarterly Inflation Report, employment data is also due for release. The labor market has been very healthy and we expect both the claimant count and the unemployment rate to continue to drop. Should average earnings rise, it may be a good leading indicator of what to expect from the BoE Inflation Report an hour later since wage pressure is also an inflation indicator.
I am just here to talk nonsense =D
  • #5,978
  • Feb 14, 2007 3:38am Feb 14, 2007 3:38am
Quote
-13.5K

Isn't that supposed to be good for BOE announcement later?

I am just here to talk nonsense =D
  • #5,979
  • Feb 14, 2007 3:39am Feb 14, 2007 3:39am
Quoting Leugimp
Will taKE FIRST PROFIT @ 9515 AND MOVE STOP TO bREAK EVEN or perhaps trail by a 2 bar low on 1600 tick. Looking for ultimate target of 9570 today with a reverse to short order set up at that level down to 9520.

GBP looks strong today against USD and especially CHF and JPY.
TP1(+85) reached, trailing at 9450 for now - will not automatically Take remainder Profit and reverse @9570 for a breach of 9565 on close of 1600 tick and 9622 will be next. so only partial taken @9565. Also, intial position that was closed @ profit will be reintiated @ 9475 if we get there, with stop on whole position now @ 9450
Man who scratches ass should not bite fingernails
  • #5,980
  • Feb 14, 2007 4:02am Feb 14, 2007 4:02am
Quoting Leugimp
TP1(+85) reached, trailing at 9450 for now - will not automatically Take remainder Profit and reverse @9570 for a breach of 9565 on close of 1600 tick and 9622 will be next. so only partial taken @9565. Also, intial position that was closed @ profit will be reintiated @ 9475 if we get there, with stop on whole position now @ 9450
For a newbie, in English please.
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