Daily Cable Analysis

possibly a push higher to 1.9661 if it can stay below 1.9961 then lower fibs

wave 5 on the hourly. wave 1 was powerful , but this wave seems to be running out of steam but never under-estimate the two headed dragon going into the close

9610, beautiful
price move like a thief

1.9600 offering support a break below here gives us 1.9525 potentially staying above this level and 1.9725 is the target tomorrow after GDP

You think we can reach down and touch 1.9535 again?

Anyone keeping an eye of the US Stocks today?


http://www.nyse.com/

I suggest we stay away from the market and close our positions
The stock markets have all crashed from Asia - Europe - USA with global selloff
Down jones has falled more than 500 points
This will have a great impact on the currency market
The GBP-JPY has fallen around 600 points which is incridible
The JPY is getting stronger and it has gained around 300 points today.
So pls be careful and stay away from the market till the picture is clear.
Am out of the market now.

9606 is speaking again "Gotta break me again!"

LOL

we retraced todays move greater than .618 this is bearish

Could be a dangerous and perilous trip for many, I have only scalped at the Cable for mucho pips today, I still have a Long waiting, but I will keep an eye on the move down here.

Always nice to have others give us a heads up!

Ken

The high-way is gone, and now we look for the low-way.

Bearish on my charts also, thanks 59!

I am watching 61.8% for recent move at 1.9622 (key price area) could keep us pressed down from here.

1.9606 will be the first support to break, then 1.957/89 2nd, then 1.9557/62 3rd support.

Out of the market for now, i cleared all pending positions !!! let's see where it goes now. Thanks for your wise advice.

I saw this channel sovereign today, after an insane GBPJPY drop. Euro holding high expected to spook stops at 3300 and pack of USD negative news is expected tomorrow... Techis may be saying down, the overall picture is telling up, here....

We may be getting an answer as to why the DOW dropped 500 points today....read on - print is small - looks like it could have been a glitch!

magnetic north 1.9635 once again

as long as we stay above 1.9500 a bullish sentiment remains. a break below 1.9600 could take us down there . there is a double top formation, do the math. but it is possible we don't break 1.9600 the retracement could be over and a another wave up could be in order. franfort could push things upwards just to have london break it back down, then push things back upwards once again like they do. use caution

The stock exchange falling was not a glitch. It is just because of china. Weak dow = strong USD if you follow anything hedge funds say. I see a trend change in the euro/usd.. The gbp/usd is still short in my eyes, and will remain that way until 9675 is broken. Then we would probably hit 9800

Here's the story - hope this explains it better:

NEW YORK - Stocks had their worst day of trading since the Sept. 11, 2001, terrorist attacks Tuesday, hurtling the Dow Jones industrials down more than 400 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.

The steepness of the market's drop, as well as its global breadth, signaled a possible correction after a long period of stable and steadily rising stock markets that had not been shaken by such a volatile day of trading in several years.

A 9 percent slide in Chinese stocks, which came a day after investors sent Shanghai's benchmark index to a record high close, set the tone for U.S. trading. The Dow began the day falling sharply, and the decline accelerated throughout the course of the session before stocks took a huge plunge in late afternoon as computer-driven sell programs kicked in, and also as a computer glitch caused a delay in the recording of a large number of trades.

The Dow fell 546.02, or 4.3 percent, to 12,086.06 before recovering some ground in the last hour of trading to close down 416.02, or 3.29 percent, at 12,216.24, leaving it in negative territory for the year. Because the worst of the plunge took place after 2:30 p.m., the New York Stock Exchange's trading limits, designed to halt such precipitous moves, were not activated.

The decline was the Dow's worst since Sept. 17, 2001, the first trading day after the terror attacks, when the blue chips closed down 684.81, or 7.13 percent

this ranging is making me crazy... anyone wanna bet we'll still be like that for about 2 more weeks?

Yeah, how much.

Actually it should be 13-15 trading days of ranging remaining.