Auslanco - GBP/JPY and GBP/USD (newstrade)
- #144,621
- Dec 1, 2008 7:02am Dec 1, 2008 7:02am
- | Additional Username | Joined Sep 2009 | 8,623 Posts
Everyone have break now? So silent up here. Maybe someone need coffe?
plus November"s awful UK manufacturing sector PMI, helped depress cable to a six-day low of 1.5008 during the European morning. The UK bank is reportedly working a GBP 2bn sell order.
The risk of a UK Bank Rate cut greater than 100bp on Thursday has risen on the back of the mfg PMI shocker. Bank Rate was cut by 150bp to 3.0% last month.
US equity futures weakness is also weighing on GBP/USD. The USD is perceived to be a safer-haven than the pound, so tends to benefit when stock prices fall (and vice-versa). 1.5283-1.5397 was today"s Asian session range.
European Commission president Barroso believes that the UK is "closer than ever before" to joining the euro (BBC website). EUR/GBP leapt to a five-day high of 0.8426 through the London morning, having traded a range of 0.8245-0.8274 through today"s Sydney session. 0.8225 was Friday"s late NY session 16-day low.
One member of the "Shadow" MPC, Patrick Minford, advocates another 150bp Bank Rate cut this week, to 1.5% (Sunday Times). Bank Rate has never been lower than 2.0% since the BoE was born in 1694.
- #144,626
- Dec 1, 2008 7:33am Dec 1, 2008 7:33am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
Should be good to short here.
- #144,630
- Dec 1, 2008 7:38am Dec 1, 2008 7:38am
- Joined Feb 2008 | Status: Trader | 5,732 Posts
Patience + Discipline - Greed = Success
- #144,631
- Dec 1, 2008 7:45am Dec 1, 2008 7:45am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
let see how is going to play.. [only as an idea] 
BTW, I was no joking about the music:
1. Sonata for two pianos [Mozart]
2. Concerto No.1 for Piano and Orchestra [Tchaikovsky]
http://www.doske.com/fx/snapshot-283.png
BTW, I was no joking about the music:
1. Sonata for two pianos [Mozart]
2. Concerto No.1 for Piano and Orchestra [Tchaikovsky]
http://www.doske.com/fx/snapshot-283.png
- #144,634
- Dec 1, 2008 8:08am Dec 1, 2008 8:08am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
- #144,635
- Dec 1, 2008 8:09am Dec 1, 2008 8:09am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
would be cool to see a decent retracement from here to 1.51 area ( also 38% fib) where shorts can load up again, but this downtrend is too strong.
I just hope pound doesnt become worthless otherwise its expensive to go abroad.
I just hope pound doesnt become worthless
otherwise its expensive to go abroad.
- #144,636
- Dec 1, 2008 8:16am Dec 1, 2008 8:16am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
I think it's still in no man's land area .. better wait for US Stocks opens .. don't see this down is over yet .. even though it's close .. me think .. .. 
- #144,638
- Dec 1, 2008 8:20am Dec 1, 2008 8:20am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
Damn!
It looks bearish?
i'm soooo sorry, but i really had to laugh at that one... the way u said was hilarious!
- #144,639
- Dec 1, 2008 8:21am Dec 1, 2008 8:21am
Since it's an awesome oscillator, why is that there's hardly anyone here uses it?? U guys are not awesome!! 
- #144,640
- Dec 1, 2008 8:24am Dec 1, 2008 8:24am
Since it's an awesome oscillator, why is that there's hardly anyone here uses it?? U guys are not awesome!!
Stick around a bit longer, you'll soon see these guys are awesome without the awesome indi