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Cable Update (GBPUSD)

  • #109,001
  • Jan 4, 2009 6:35pm Jan 4, 2009 6:35pm
Looks like a H&S on the H1 chart to me.
Hi, my name is Barry and you can keep your doctor...
  • #109,002
  • Jan 4, 2009 6:53pm Jan 4, 2009 6:53pm
Quoting Atondra
Well...so far GBP/USD has drop 60 pips from the opening
Oh, this week I will go Short GU only. It may fall to 1.41xx.
Hope you all here will make pips
Give me patience
  • #109,003
  • Jan 4, 2009 6:56pm Jan 4, 2009 6:56pm
Quoting cisco
Looks like a H&S on the H1 chart to me.

Hey Cisco

This GBPUSD is wicked...just watch that movement.

I'm just scalping for the time being..and placing Pending short below 4400 level.
  • #109,004
  • Jan 4, 2009 6:57pm Jan 4, 2009 6:57pm
Quoting Bullfx
Oh, this week I will go Short GU only. It may fall to 1.41xx.
Hope you all here will make pips
So you are saying that GU will fall less than 400 pips for the week??.....

That can be done in a day.
  • #109,005
  • Edited 7:06pm Jan 4, 2009 7:00pm | Edited 7:06pm
Quoting Bullfx
Oh, this week I will go Short GU only. It may fall to 1.41xx.
Hope you all here will make pips

Similar Observation Bullfx...

Trade the trade...indicators strong Bearish...Fundamentals may support the bearish movements as well..But the drop may hit the 4300'ish level..not much further. GBP is not that weak...compared to USD.

Good luck all
  • #109,006
  • Jan 4, 2009 7:08pm Jan 4, 2009 7:08pm
Quoting JammerJams
Similar Observation Bullfx...

Trade the trade...indicators strong Bearish...Fundamentals may support the bearish movements as well..But the drop may hit the 4300'ish level..not much further. GBP is not that weak...compared to USD.

Good luck all

How is the USD weak?......lol
  • #109,007
  • Jan 4, 2009 7:47pm Jan 4, 2009 7:47pm
Quoting AmeriTrini
How is the USD weak?......lol
Seems like lol is a way to seem knowledgeable...ok..here is your reply

If we are doing a comparison between the pound and usd...

 

  1. both are in the housing rut...none the better
  2. both have exhaused much of the rate cut levels...
  3. US along with many other countries are printing currency
  4. Deflation concerns...
  5. The 50bps anticpated for the pound may already be factored in to the current level...
  6. Job losses for the year increased
  7. Financial sector Loan programs are a concern
  8. USD auto sector is in dismay at this time
  9. The pound is bearish at this time compared to usd...
  10. But the current price comparison to usd is pound is undervalued
  11. etc..etc...

once the bottom levels are tested..we will see a big correction upward occur..possible to see eurgbp parity then quick jump upward...question is ..where will parity occur..if it does.

I've lived in HK, Taipei, Paris, Mexico, etc..and usd seemed to be the preferred coinage..but there was a time...gbp was the choice..and maybe sooner then we think..usd may have to step aside.

happy hunting

  • #109,008
  • Jan 4, 2009 8:13pm Jan 4, 2009 8:13pm
Quoting JammerJams
Seems like lol is a way to seem knowledgeable...ok..here is your reply

If we are doing a comparison between the pound and usd...
[list][*]both are in the housing rut...none the better[*]both have exhaused much of the rate cut levels...[*]US along with many other countries are printing currency[*]Deflation concerns...[*]The 50bps anticpated for the pound may already be factored in to the current level...[*]Job losses for the year increased[*]Financial sector Loan programs are a concern[*]USD auto sector is in dismay at this time[*]The...

So how would you say the USD is today compared to lets say, 6 months ago?
  • #109,009
  • Jan 4, 2009 9:08pm Jan 4, 2009 9:08pm
I remember when the usdx was at the lows, rogers said it would be a bullish year for the usd(2008 2nd half) but that would just be a great shorthing opp. against all pairs..
{Promotion Removed}
  • #109,010
  • Jan 4, 2009 9:14pm Jan 4, 2009 9:14pm
i stiil short with TP 1.435 for this day, TP 2 around 1.42 then 1.39 - 1.4
SL 1.47. not sign for candle reversal right now so i still prefer short
AM I RIGHT ???
  • #109,011
  • Jan 4, 2009 9:29pm Jan 4, 2009 9:29pm
That the USD is headed down should not be doubted imho. If you look at the long term trend, going back to the 2001-2002 TF, you see the USD declining against most currencies until a sudden spike upward which we are in now. This is due to the credit crisis, which will not last. So this it seems to me is the golden opportuity for people to offload themselves of USD. The dilemna is where to go. All the majors save perhaps the Yen look none to good. Which supports the gold bugs giddiness and expectations of $1500-2500-???? per ounce gold. Funny how a metal with little utility can be so valued. In any event, I believe the USD is headed back down long term, and this is supported by all the fundamentals even more now than six months ago. Has it reached its near-term peak? Quite possibly, but perhaps not.
  • #109,012
  • Jan 4, 2009 9:34pm Jan 4, 2009 9:34pm
Quoting AmeriTrini
So how would you say the USD is today compared to lets say, 6 months ago?

The usd has lost much of its shine...with rate cuts and deflation/inflation concerns. 6 months ago..the higher valued euro and gbp helped usa because of the desire to buy usa exports. Exports helped our manufacturing sector. Our products and commodities were in high demand because of lower cost at that point in time.
good example,... Japan is having a nightmare trying to improve their exports ever since their value has risen sharply.

best of luck Ameritrini
  • #109,013
  • Jan 4, 2009 9:42pm Jan 4, 2009 9:42pm
I know this is the Cable update, but since the Yen was mentioned, anyone think the BOJ may be selling Yen in the market? It looks like it may be in a reversal or at least a strong retracement; currently approaching Fib 23.6 on the weekly chart. The BOJ is known to do it from time to time as necessary.
  • #109,014
  • Jan 4, 2009 9:49pm Jan 4, 2009 9:49pm
Quoting johnnyonspot
That the USD is headed down should not be doubted imho. If you look at the long term trend, going back to the 2001-2002 TF, you see the USD declining against most currencies until a sudden spike upward which we are in now. This is due to the credit crisis, which will not last. So this it seems to me is the golden opportuity for people to offload themselves of USD. The dilemna is where to go. All the majors save perhaps the Yen look none to good. Which supports the gold bugs giddiness and expectations of $1500-2500-???? per ounce gold. Funny how...
you put it in better words then me , we are on the same boat
{Promotion Removed}
  • #109,015
  • Jan 4, 2009 9:56pm Jan 4, 2009 9:56pm
Quoting quickh23a
you put it in better words then me , we are on the same boat
Seriously, just take a gander at the weekly charts on the majors and the USD looks like it is dropping back against all, i.e., the major retracement is over. Some are bottoming/topping, others are already coming back. Save the against the Yen, which seems to be doing the opposite. I am no expert in forex, but my best guess is a long term short of the USD across the board except for Yen.
  • #109,016
  • Edited 10:44pm Jan 4, 2009 10:25pm | Edited 10:44pm
Short GU at 1.4510, TP around 1.44x
BOE will cut at least 0.5% interest rate this week.

British Pound Posts Weekly Decline Against Dollar as Loan Approvals Tumble the longest run of declines since September, and two- year gilt yields tumbled to the lowest level on record as reports showed U.K. mortgage approvals fell and manufacturing shrank.
Give me patience
  • #109,017
  • Jan 4, 2009 10:30pm Jan 4, 2009 10:30pm
Quoting Bullfx
Short GU at 1.4510, TP around 1.44x
BOE will cut at least 0.5% interest rate this week.
shorted @4512 - tp 4430
we'll see
  • #109,018
  • Jan 4, 2009 10:44pm Jan 4, 2009 10:44pm
Took a long at 1.4490 taken half off at 1.4520 other half SL at BE
Enter Signature
  • #109,019
  • Jan 4, 2009 10:56pm Jan 4, 2009 10:56pm
Quoting golatigo
shorted @4512 - tp 4430
we'll see
where is your s/l?
Keep It Simple Stupid
  • #109,020
  • Jan 4, 2009 10:58pm Jan 4, 2009 10:58pm
Quoting Alastair
where is your s/l?
Don't use them -- I'm my own
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