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Cable Update (GBPUSD)

  • #108,821
  • Dec 31, 2008 5:29am Dec 31, 2008 5:29am
'Sell off' of all trades for New years eve celebrations at around 2pm this afternoon?
  • #108,822
  • Dec 31, 2008 5:34am Dec 31, 2008 5:34am
Quoting Mearzo
'Sell off' of all trades for New years eve celebrations at around 2pm this afternoon?
More of profit taking on GBP crosses like EUR/GBP and GBP/JPY - as soon as these are done - new positions will start coming in and GBP should go down - hence an advice would be NOT to go long on G/U because that is not leading the action - its more of a by product.
  • #108,823
  • Dec 31, 2008 5:40am Dec 31, 2008 5:40am
Very nice btm formed around 1.4400, profit taking of cross should power GBP/USD to around 1.50. Remember EUR/GBP never has any lower low on the daily since for 3 weeks!
  • #108,824
  • Dec 31, 2008 5:54am Dec 31, 2008 5:54am
Good morning all from the UK. Happy New Year to you all, and may the GBP continue to rally!
  • #108,825
  • Dec 31, 2008 6:14am Dec 31, 2008 6:14am
Well looking at the 5 min chart, the momentum to the up-side seems to be waning a bit. After a nice push up through the 4555 area, it seems to be losing some steam.

I'm flat GBP and short the EUR.

To all a Happy and PROSPEROUS New Year.
  • #108,826
  • Dec 31, 2008 6:22am Dec 31, 2008 6:22am
Quoting penycae
Good morning all from the UK. Happy New Year to you all, and may the GBP continue to rally!
Preach it brother!!
Probability Professor
  • #108,827
  • Dec 31, 2008 6:42am Dec 31, 2008 6:42am
lets see what happens here...
Attached Image (click to enlarge)
Click to Enlarge Name: cable4hr.gif Size: 21 KB
  • #108,828
  • Dec 31, 2008 6:46am Dec 31, 2008 6:46am
Hi

My Pending Sell Order @1.4615 is activated now
  • #108,829
  • Dec 31, 2008 6:52am Dec 31, 2008 6:52am
Quoting deboooo2005
Hi

My Pending Sell Order @1.4615 is activated now
yes i think i have a god chance....there definately a reaction here, hopefully this can close bearish.
Attached Image (click to enlarge)
Click to Enlarge Name: cable4hr.gif Size: 27 KB
  • #108,830
  • Dec 31, 2008 6:56am Dec 31, 2008 6:56am
Quoting LuckyLurker
(17 hours ago) 1.4615

and there it is.. im done for this year.. have a wonderful safe new year everyone. Great job this year!!!
USD Est Non Mortuus
  • #108,831
  • Dec 31, 2008 7:15am Dec 31, 2008 7:15am
Quoting LuckyLurker
and there it is.. im done for this year.. have a wonderful safe new year everyone. Great job this year!!!
Great trading.....

And a Happy New Year to you also!!!

HOLLA
  • #108,832
  • Dec 31, 2008 7:34am Dec 31, 2008 7:34am
Quoting gmohata
More of profit taking on GBP crosses like EUR/GBP and GBP/JPY - as soon as these are done - new positions will start coming in and GBP should go down - hence an advice would be NOT to go long on G/U because that is not leading the action - its more of a by product.
i'm not in the trade because i don't believe markets with low volume, anything can happen. But if i would be, i would close it with profit now and keep watching price action, if there are any signs of reversal or not. Breaking down 0.962 on eurgbp is also significant for another pound appreciation.
  • #108,833
  • Dec 31, 2008 7:44am Dec 31, 2008 7:44am
Quoting LuckyLurker
and there it is.. im done for this year.. have a wonderful safe new year everyone. Great job this year!!!
good job welldone!!..happy new year..
  • #108,834
  • Dec 31, 2008 7:57am Dec 31, 2008 7:57am
If all goes to plan the sell off should start in a few mins.
  • #108,835
  • Dec 31, 2008 8:00am Dec 31, 2008 8:00am
Quoting Mearzo
If all goes to plan the sell off should start in a few mins.
can you clarify? sell off of what? euro?
  • #108,836
  • Dec 31, 2008 8:06am Dec 31, 2008 8:06am
I bet next week, GU will be 1.40 or below that, maybe 1.3 xx
Give me patience
  • #108,837
  • Dec 31, 2008 8:42am Dec 31, 2008 8:42am
Quoting gammase1
Meromar, what is the point?????
The result of the year. What is yours? Is the game worth the candle?
  • #108,838
  • Dec 31, 2008 8:42am Dec 31, 2008 8:42am
Quoting Bullfx
I bet next week, GU will be 1.40 or below that, maybe 1.3 xx
i reckon 1.4 and retrace up...might even be the bottom..i hope it is anyway
  • #108,839
  • Dec 31, 2008 8:43am Dec 31, 2008 8:43am
Quoting meromar
The result of the year. What is yours? Is the game worth the candle?
the point is...viewing those results is like looking into the matrix...all confusion
  • #108,840
  • Dec 31, 2008 8:47am Dec 31, 2008 8:47am
Though GU is in a downtrend, it has hit the Daily R2 three times on the hourly which also coincides to the Fib 100% Level. The 1H and 4H is in an uptrend.
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