Cable Update (GBPUSD)

It Market is being be obstinate.

anybody guys have a RSI indicator that plots just the value of the RSI of 6 time frames on the chart?

I think Up break 1,763x, after down 1,75xx

i open a deal at 1.7632

This ma is special...

short at 7591 sl 7669 tp 1.7479

It bounced form MA, If we have candle that close above MA the direction is up, but in this case shorts is still in the game

Well its about 10 minutes before Bernanke will start talking. Anybody got any ideas on what he's going to talk about?

Hes expected to talk about how much he believes that cable drops to 1.7415 in the next 2 hours

lol

yeah!!!!!

do you expect that cable down to 1.7500 ??

for real though.. he's talking about education today and not monetary policy or interest rates. We are trading oil as usual right now.

closed position at 1.7581 for +71. will wait for re-entry.

good stuff

MNI - 9/9/2008 8:12:07 AM
EURO-DOLLAR: Despite talk of sell interest to emerge at the 1215GMT ECB fix one trader reports that Asian sovereign demand is currently keeping the rate buoyed. Rate currently holds around $1.4146.

MNI - 9/9/2008 9:00:14 AM
EURO-DOLLAR: Easing lower to $1.4110 area as backdrop includes a further dip in gold and crude oil prices and as CTA type accounts remain the main participants in the pair. Dip brings the pair into contention with demand interest mentioned in the $1.4100/10 area ahead of $1.4070/65.


MNI - 9/9/2008 8:40:11 AM - CABLE
CABLE: Breaks below $1.7600 with triggered selling taking the rate down to begin a challenge on next band of reported support at $1.7585/80. Below here and rate can push on toward $1.7560/45.

9/9/2008 6:41:24 AM- CABLE
CABLE: Stretches on to $1.7668 with the latest leg up provided by reported corporate buy interest. Rate currently holds backa round $1.7655. Offers now seen placed between $1.7670/80 a break above to open a move on toward $1.7700 ahead of stronger area between $1.7715/25. Bids noted between $1.7610/00.

Mthly potential support area is shown below as price stays just above it. Today's range 163pips lo-hi, some way off the 504 yesterday, biggest one day range in over 15years, screws up all the averages of course,...the 20day average showing 211 average daily pip range now.

Intraday tone turns from bullish to neutral-bearish, with Bernanke speaking, and U.s data due in 30mins or so. The current 7668 intraday hi is the area of those recovery highs in 1hr yesterday off the interim 7564 floor before the dip to 7472lows,, the area also a prev swing lo on both 1hr and 4hr from last weds. 38.2% of yesterday's fall in the vicinity there too.

g/l

euro dropped like a rock, what is holding cable up?

Next support 1.7540
We must becarefull at this level. Hope it will breakdown and continue going south.