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Cable Update (GBPUSD)

  • #6,481
  • Feb 21, 2007 4:35am Feb 21, 2007 4:35am
This is what I mean...

http://i2.photobucket.com/albums/y28/cesarnc/feb21.jpg

Wied is that on Mon and Tue it was the US session that pushed up. Today was London, mostly because of reported GBPJPY being bought heavily...

Seems that Techs are telling BULL but fundys are not going along with it....

Thoughts?
  • #6,482
  • Feb 21, 2007 4:41am Feb 21, 2007 4:41am
The [BOE] notes that market expectations factor in "at least" 1 more 1/4 pt rate hike with the sharp Stg appreciation (before the recent retreat) implying a substantial tightening of monetary conditions. However, time is required to judge the impact of past tightening and how much more is called for to keep CPI on track. Recall, the Feb Quarterly Inflation Report presented mixed tones with perhaps a hint of dovishness vs the Nov version, which was decidedly more hawkish and pointed to a series of potential rate hikes ahead. The analysis based on rates at 5.5% suggests that another 25 bp hike remains in the mindset of many on the committee, though the main question at the current juncture is when it is likely to be delivered. A move in Mar would not be out of sync with the fine points within the report/minutes, though Q2 now looks more likely.
  • #6,483
  • Feb 21, 2007 4:43am Feb 21, 2007 4:43am
Yea cesarnc I was long too hoping for 9666 and got stopped out lol. Luckily still in profit. Henrycarol is too powerful today.
Tra-X
  • #6,484
  • Feb 21, 2007 4:52am Feb 21, 2007 4:52am
long 1.9489 4 hr chart has a higher high and a higher low
  • #6,485
  • Feb 21, 2007 4:58am Feb 21, 2007 4:58am
Quoting Traex
Yea cesarnc I was long too hoping for 9666 and got stopped out lol. Luckily still in profit. Henrycarol is too powerful today.
Well that's bad.... Not that 666 is out of the cards for the week. If US session repeat this week's pattern so far, we may be seeing low 9600 today...

But this is going to be all about the down side now... Taking a long time to retrace even to the 23 fib....

Today I traded the f/cast 7-2 BOE minutes. Last month, on 5-4 price went down. Why not this time?

So when the 1hr pin-bar formed, I shorted, placed the SL and waited. I've seen that Cable responds to 1hr pin-bar most of the time (but doesn't with smaller time frames)

Cable is being very sensitive to "bad news", like on Monday. Overreacting all the time with 80-100 pips down - to retrace later in the day...

Just want to know when are we leaving this freaking 9450-9550 channel...
  • #6,486
  • Feb 21, 2007 5:10am Feb 21, 2007 5:10am
*(UK) BOE VOTED TO KEEP RATES UNCHANGED AT 5.25%: 7 VS 2 VOTE

- Beasley, Sentance voted for rate hike
- BOE minority said that they put particular weight on upside inflation risks
- BOE minority noted that companies are willing to increase prices

Result: GBP/USD abandoned its chance of doing a proper fifth wave up on the latest upwards pulse and plunged down about 50 pips.

Prediction: GBP/USD will fall to 1.9480 - 1.9500, which is Wave 1 down, then major bounce up to about 1.9550.

http://www.forexfactory.com/images/misc/progress.gif

  • #6,487
  • Feb 21, 2007 5:15am Feb 21, 2007 5:15am
Quoting cesarnc
henrycarol is shorting Chelsea, too
Liverpool gonna hit big resistence
in
  • #6,488
  • Feb 21, 2007 5:17am Feb 21, 2007 5:17am
Quoting cesarnc
Well that's bad.... Not that 666 is out of the cards for the week. If US session repeat this week's pattern so far, we may be seeing low 9600 today...

But this is going to be all about the down side now... Taking a long time to retrace even to the 23 fib....

Today I traded the f/cast 7-2 BOE minutes. Last month, on 5-4 price went down. Why not this time?

So when the 1hr pin-bar formed, I shorted, placed the SL and waited. I've seen that Cable responds to 1hr pin-bar most of the time (but doesn't with smaller time frames)

Cable is being very sensitive to "bad news", like on Monday. Overreacting all the time with 80-100 pips down - to retrace later in the day...

Just want to know when are we leaving this freaking 9450-9550 channel...
Well my wave count got screwed so re-count is needed now. Just forget about wave 3 upwards I think lol. Lemme see hmm...
Tra-X
  • #6,489
  • Feb 21, 2007 5:19am Feb 21, 2007 5:19am
Quoting metto
Liverpool gonna hit big resistence
Man U fans are expierincing big resistance too with being pushed up against the fence.
  • #6,490
  • Feb 21, 2007 5:36am Feb 21, 2007 5:36am
USD seems alive. Only Cable struggling. EUR and JPY giving up already... Watchout for further downside.
  • #6,491
  • Feb 21, 2007 5:40am Feb 21, 2007 5:40am
...mackaozy, your avatar is offensive and very anti-american... either way God continues to bless America... otherwise, your economic opinion has merit
  • #6,492
  • Feb 21, 2007 5:41am Feb 21, 2007 5:41am
i am long in G/U
now worry because USDCHF up 30 pips and i think gbp will down ...
any idea?
  • #6,493
  • Feb 21, 2007 5:42am Feb 21, 2007 5:42am
Quoting dbanyan
...mackaozy, your avatar is offensive and very anti-american... either way God continues to bless America... otherwise, your economic opinion has merit
NASCAR SUCKS TOO BOY...

It's not anti-american. It's anti-bush. God bless the poor Iraqi people.
  • #6,494
  • Feb 21, 2007 5:46am Feb 21, 2007 5:46am
.....the USD is the #1 currency (for another 1000 years)....God Bless America.....and my third term...

Donīt forget, guys....Go Vote!
TheBe$t
  • #6,495
  • Feb 21, 2007 5:48am Feb 21, 2007 5:48am
Quoting TheBest
.....the USD is the #1 currency (for another 1000 years)....God Bless America.....and my third term...

Donīt forget, guys....Go Vote!
VOTE HILARY CLINTON FOR GOD!
  • #6,496
  • Feb 21, 2007 5:48am Feb 21, 2007 5:48am
Quoting mackaozy
VOTE HILARY CLINTON FOR GOD!
  • #6,497
  • Feb 21, 2007 5:49am Feb 21, 2007 5:49am
Hi all,
This is my 2nd post "the chart says everything" , have you seen that in your chart too ? .... G D
Daily chart (GBP/USD)
Attached Image
  • #6,498
  • Feb 21, 2007 5:54am Feb 21, 2007 5:54am
Quoting mackaozy
VOTE HILARY CLINTON FOR GOD!
Your country...UK (and 99% of world) has envy of the USA status (economic and military)...and Hillary Clinton will be my girlfriend...end of this discussion
TheBe$t
  • #6,499
  • Feb 21, 2007 6:00am Feb 21, 2007 6:00am
I like Bush...

Specially in David Letterman's "Great Presidential Speeches"

  • #6,500
  • Feb 21, 2007 6:05am Feb 21, 2007 6:05am
please talk about GBPUSD...!!!
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