Cable Update (GBPUSD)

in my view around 1.737 i have cabal resistance..but i think it should bounce and go down but we need confirmation first..

Ldn FX: Cable Close To Intraday Highs Oct 09 / 06:20


--But Runs Into Early Headwinds On Russia Sales

LONDON, October 9 (MNI) - Cable traded close to intraday highs
in late European morning trade Thursday, though the move up during the
early part of the session ran into strong headwinds from Russian sales.

Good demand at the 1000GMT fixing extended the rally, in turn
allowing euro-sterling to ease away from earlier posted extended highs
at stg0.7958.

STERLING SUMMARY: Opened early Europe at $1.7242, stg0.7922
-- Cable closed in NY around $1.7308, and was under pressure into early
Asia, with stops through $1.7250 targeted by a French name, the
triggering providing added downside momentum to take it to lows of
$1.7173. Recovery in equity markets, prompted demand for yen crosses,
with sterling-yen demand helping cable to recover, pushing to $1.7317.
Reversal in the Nikkei saw rate ease to $1.7260, with early Russian
sales into Europe knocking it to $1.7200. Rate recovered to $1.7275
before coming under pressure again from same names, this time taking
it to $1.7210. Early demand for euro-dollar pulled euro-sterling to
stg0.7954, from Asian lows of stg0.7887. Strong German demand lifted
cable to $1.7347. Good cable demand into the 1000GMT fix took cable
to $1.7373, easing euro-sterling to stg0.7920.
-- Cable bids $1.7325/20, $1.7280. Offers $1.7370/80, $1.7400, $1.7420
-- Euro-sterling bids stg0.7920, 0.7885. Offers stg0.7970/80, 0.7995/00

short @7351

1st target 1.731 2nd target 1.724

THanks

what was this last move.Good i close my long.

nice call,what did u see that I did not?I saw no sign of resistance @ 7370,please tell me what I missed,Mike in Michigan

Can anyboby tell me where this cable will go in two weeks period... please help me out i have a buy positions at higher levels.....

thanks but i think my chart is difficult to understand because i draw it a little complex..however i'm just newbie trader..

ty for the response my friend,all charts are a bit complexed and not easy to understand

@7357

i'm still out ... i think i ve to wait to us news if it bad i can short from higher
around 1.741x to 1.742x or real break to this area it will go to 1.7590

my sl is at zero level so I will wait

on the last run I got 49 p

good but too risky

zero

i 'll wait cable could go up

I take a break

thats good

i was looking the monthly chart and draw 2 lines, one in the lows of several months before, and now in the highs of another...guess what? we are right now in the middle of the 2 lines (now is pointing to the upper line after touch the lower one).... This 2 lines are below the 50% of the 2.4540-1.0463.

in the chart every time the 2 lines was crossed, we had 1000 or more fast pips for both sides favoring the trend.

i guess you know that too, but i recently discover...

thats what i talk about