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Cable Update (GBPUSD)

  • #109,061
  • Jan 5, 2009 4:53am Jan 5, 2009 4:53am
Quoting gmohata
My advice to anyone trading GBP/USD is to always study the EUR/GBP charts and pair - they give you a lot of insight.

At the moment - US$ is strengthening against the majors (except commodity currencies). GBP is not lossing out too much because EUR/GBP and GBP/JPY are actually holding up which i sgiving strength to the GBP/USD.

Look at these charts to make sense of the move - and you will be suprised to see how well they correlate. Its the same when EUR/USD was moving up but GBP/USD was moving down - it was because of EUR/GBP.


The weekly pin on E/G will put some pressure on the downmove of the pair.

Given that it was formed during the holiday period I don't trust it much.

The correllating movements between the Eur/Gbp Eur/Usd and Cable have been really helpful in determining a direction.

Fiber is testing the 1.37 resistance, Eur/Gbp the 0.94 support and cable is testing the 1.4550 level.

The next hour close will be crucial in giving these pairs some direction.
  • #109,062
  • Jan 5, 2009 4:53am Jan 5, 2009 4:53am
Quoting Bullfx
GBP Construction PMI:
actual: 29.3, forecast: 30.5, pre: 31.8

I short only, don't go against the trend.
TP around 1.43
Give me patience
  • #109,063
  • Jan 5, 2009 4:55am Jan 5, 2009 4:55am
Quoting Bullfx
GBP Construction PMI:
actual: 29.3, forecast: 30.5, pre: 31.8

I short only, don't go against the trend.
That news dont seems to have any impact
  • #109,064
  • Jan 5, 2009 4:55am Jan 5, 2009 4:55am
Quoting gmohata
My advice to anyone trading GBP/USD is to always study the EUR/GBP charts and pair - they give you a lot of insight.

At the moment - US$ is strengthening against the majors (except commodity currencies). GBP is not lossing out too much because EUR/GBP and GBP/JPY are actually holding up which i sgiving strength to the GBP/USD.

Look at these charts to make sense of the move - and you will be suprised to see how well they correlate. Its the same when EUR/USD was moving up but GBP/USD was moving down - it was because of EUR/GBP.
thanx for your thoughts. I understand that EUR is loosing its strength a lot against GBP but still i had assumed that this was due to the fact that US dollar was getting stronger.

But now come to think of it it makes sense that eur's fall is pushing gbp up. However all of my charts were indicating another fall for gbpusd at this hour but did not happen.
  • #109,065
  • Jan 5, 2009 4:58am Jan 5, 2009 4:58am
Quoting Alfa159
thanx for your thoughts. I understand that EUR is loosing its strength a lot against GBP but still i had assumed that this was due to the fact that US dollar was getting stronger.

But now come to think of it it makes sense that eur's fall is pushing gbp up. However all of my charts were indicating another fall for gbpusd at this hour but did not happen.
you want 100 pips or 200 pips.
  • #109,066
  • Jan 5, 2009 5:00am Jan 5, 2009 5:00am
Quoting Abuawad
you want 100 pips or 200 pips.
50 would have been ok
  • #109,067
  • Jan 5, 2009 5:03am Jan 5, 2009 5:03am
Quoting Alfa159
50 would have been ok
what is your entry point?
  • #109,068
  • Jan 5, 2009 5:04am Jan 5, 2009 5:04am
Quoting Abuawad
you want 100 pips or 200 pips.
500 pips will be better
  • #109,069
  • Jan 5, 2009 5:05am Jan 5, 2009 5:05am
no no. lost around 30 pips already. I had entered short at 1.4498 with SL at 1.4522. My Tp was 1.4351 but now this just turned out to be a lost trade.
  • #109,070
  • Jan 5, 2009 5:05am Jan 5, 2009 5:05am
Quoting Atondra
500 pips will be better
If you can hold to 1.42 & 1.4, sure it will be better
  • #109,071
  • Jan 5, 2009 5:06am Jan 5, 2009 5:06am
Quoting Alfa159
no no. lost around 30 pips already. I had entered short at 1.4498 with SL at 1.4522. My Tp was 1.4351 but now this just turned out to be a lost trade.
already hit !!!
  • #109,072
  • Jan 5, 2009 5:07am Jan 5, 2009 5:07am
I think it is gathering momentum to fly
  • #109,073
  • Jan 5, 2009 5:12am Jan 5, 2009 5:12am
Quoting Atondra
I think it is gathering momentum to fly
for sure it will fly but to which direction from your side.
  • #109,074
  • Jan 5, 2009 5:14am Jan 5, 2009 5:14am
Quoting Atondra
I think it is gathering momentum to fly
The moment i make a comment it will go the reverse
  • #109,075
  • Jan 5, 2009 5:19am Jan 5, 2009 5:19am
Quoting Abuawad
for sure it will fly but to which direction from your side.
hope down
opened short @1.4554 SL 1.4595 TP 1.4365
  • #109,076
  • Jan 5, 2009 5:22am Jan 5, 2009 5:22am
Quoting fifo
hope down
opened short @1.4554 SL 1.4595 TP 1.4365
good lock,
  • #109,077
  • Jan 5, 2009 5:23am Jan 5, 2009 5:23am
Quoting Abuawad
good lock,
thnx
  • #109,078
  • Jan 5, 2009 5:27am Jan 5, 2009 5:27am
Quoting Abuawad
for sure it will fly but to which direction from your side.
I hope she will fly north and break thro 1.6000
  • #109,079
  • Jan 5, 2009 5:28am Jan 5, 2009 5:28am
Quoting Atondra
I hope she will fly north and break thro 1.6000
are you stick in long
  • #109,080
  • Jan 5, 2009 5:32am Jan 5, 2009 5:32am
Quoting Abuawad
are you stick in long
Yeah bro. Entered a few long posts below 1.5000 earlier
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