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Cable Update (GBPUSD)

  • #109,261
  • Jan 6, 2009 2:43am Jan 6, 2009 2:43am
Quoting JammerJams
Hey Gents...

I'm kinda getting online and missed some info..

The GbpUsd is moving..my charts are poiniting to a lower 1.4400 level pair.

Did I miss something..?
For a while i thought she gonna break thro 1.5700 but she stop at 1.5685 and sliding back down now
  • #109,262
  • Jan 6, 2009 2:44am Jan 6, 2009 2:44am
Quoting JammerJams
Hey Gents...

I'm kinda getting online and missed some info..

The GbpUsd is moving..my charts are poiniting to a lower 1.4400 level pair.

Did I miss something..?
that is my target as well hopefully it will get there its flying all over the place at the moment and £ had bad news early, strange
  • #109,263
  • Jan 6, 2009 2:47am Jan 6, 2009 2:47am
Quoting PipLand
that is my target as well hopefully it will get there its flying all over the place at the moment and £ had bad news early, strange
As usual for the past few months BAD news reacts to the opposite
  • #109,264
  • Jan 6, 2009 2:52am Jan 6, 2009 2:52am
Quoting Atondra
That is one messy chart bro.
Are you trying to confuse me ?
at lest i know my targets and my entry points,
  • #109,265
  • Jan 6, 2009 2:53am Jan 6, 2009 2:53am
This baby is flying for no reason at all.
I am puzzle.
Can anybody enlighten me ?
  • #109,266
  • Jan 6, 2009 2:58am Jan 6, 2009 2:58am
Look at the monthly chart, u will see
  • #109,267
  • Jan 6, 2009 3:02am Jan 6, 2009 3:02am
I suspect that there are a lot of trades on EurGBP as that baby is moving with very little pullback. For it to keep moving while EurUSD is at a resistant level the net effect is to push cable up. If it turns after this data, I suspect the attention may shift to the effect of the UK bad news at 09h30.

Quoting Atondra
This baby is flying for no reason at all.
I am puzzle.
Can anybody enlighten me ?
Ride the Bulls bearback!
  • #109,268
  • Jan 6, 2009 3:03am Jan 6, 2009 3:03am
i see it going to 1.4840.
  • #109,269
  • Jan 6, 2009 3:07am Jan 6, 2009 3:07am
There she goes again. I think she gonna break 1.4700 this time
  • #109,270
  • Jan 6, 2009 3:07am Jan 6, 2009 3:07am
Quoting alfamichi
i shorted @ 1.4573.i am now on -100pips
i need your advice
Hello Alfamichi

you need to realize the GBPUSD trade this week is all pending on the rate cut news this thursday.
The GBP will be volatile this week until the report is provided.
We may see it move from the high 4695 level to as low as the 4400 levels.

I can just give you my perspective...the GBPUSD still has no clear direction as of yet. But the Thursday news will affect the swing immensley.

What you witnessed was a report movement..we may see it gradually decend in the next few hours...


good luck...
  • #109,271
  • Jan 6, 2009 3:07am Jan 6, 2009 3:07am
Quoting fry2010
i see it going to 1.4840.
Are you sure? i really confuse right now. the news is bad, but why it go north? it's really hard to predict
  • #109,272
  • Jan 6, 2009 3:08am Jan 6, 2009 3:08am
Quoting fry2010
i see it going to 1.4840.
I hope not bro.I have PO short @ 1.4740
  • #109,273
  • Jan 6, 2009 3:15am Jan 6, 2009 3:15am
Quoting Atondra
I hope not bro.I have PO short @ 1.4740

nothing other then market movements causing a mess. I still see the gbpusd going back to the low 45's or 44's as we get closer to thursdays report.

the reverse movements also occurr when large institutions decide to jump in.
Remember..Trade the trade. non emotional.

Their is no real reason for the gbpusd to go up at this time. all is emotional movements.
  • #109,274
  • Jan 6, 2009 3:31am Jan 6, 2009 3:31am
services pmi data was good didnt seem to have any effect on the market
  • #109,275
  • Jan 6, 2009 3:41am Jan 6, 2009 3:41am
Some hedgies are artificially propping cable up. No reason for it to be riding high while EU is down big. They are saying on Bloomberg the cut this week may be 100 bp instead of 50 bp. If that happens, the pound will be murdered. Really not sure who would want to buy in at this point.
  • #109,276
  • Jan 6, 2009 3:44am Jan 6, 2009 3:44am
Quoting Subdude
Some hedgies are artificially propping cable up. No reason for it to be riding high while EU is down big. They are saying on Bloomberg the cut this week may be 100 bp instead of 50 bp. If that happens, the pound will be murdered. Really not sure who would want to buy in at this point.
I also think that the rate cut will be deeper.
But in the meantime, the pound is showing a lot of strength. Maybe it's just a technical retraction...
  • #109,277
  • Jan 6, 2009 3:50am Jan 6, 2009 3:50am
Quoting Yohay
I also think that the rate cut will be deeper.
But in the meantime, the pound is showing a lot of strength. Maybe it's just a technical retraction...
Funny thing...the news was not favorable.
the economy is still contracting..it may show a slight less contraction...but still not good.

And Yohay is correct....the pound is being held up artificially at this time.
the news thursday will not be Pound favorable. I do see it dropping all the way down to 44'ish levels and then it will find a solid support level..and commence a long track upward to 51+...

Best advice...take out any orders before reports...or...ride the waves
  • #109,278
  • Jan 6, 2009 3:52am Jan 6, 2009 3:52am
We are starting to see the resistence level forming again...it will most likely sit here until next report is released.
  • #109,279
  • Jan 6, 2009 4:24am Jan 6, 2009 4:24am
Hi all.I went short at 1.4709.She just doesnt want to go down.
  • #109,280
  • Jan 6, 2009 4:48am Jan 6, 2009 4:48am
Quoting trader2160
Hi all.I went short at 1.4709.She just doesnt want to go down.
My guess is it will test 1.4800 before it move down
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