Cable Update (GBPUSD)

yep im going bed soon hopefully price hits my 2nd trendline and drops but we will see eh, price has just shot up a bit in the last min!

Nah its not a fib fan, just regular trendlines

Rest well. The markets will be here waiting for you.

Bulltrap? Please let it be.

i say 14136 then short im currently long from 1.3881 lets see how it goes i think its the time for retracement this selloff is overdone

Way to go. I hope you get a nice ride up.

I'll be watching.

this cud be part of shake out to get rid of people going short. what do others think?

Its starting to shape up 250 pips im after i shorted cad too

14000 here we come. Lets see how it reacts there.

Took half off the table for 100 pips next level

Banked pips are always good.

Looks like 14000 is just waiting to be broken

Hope people are gna be around in the morning, theres a ton of news out for gbp today.

bad news for gbp. hope it will go to 1.386 / 1.36 / 1.34
what do u think ?

i hope you correct. i woke up early this morning to catch a ride!

Personally I think today may be largly a retracement day up to resistance levels
1.4050, 1.4180, 1.4250. I still think large drop from these areas expected, and we cud see the target u mention of 1.3860 at a push. If it reach hear there likly to be another rally. So im not sure about your lower targets, but if ur analysis is showing that i cud well be wrong.

this GBP/USD, is it gonna dip a bit more or actually sinking eventually?

There's lots of data due in a few hours, so it'll shake then.

As for news, the expected figures are not so good, so i think even though bad news is expected the actual news will be better than expected so generally the news wont have much negative effect on GBP.
Before I go on, this is not tradable advice, only my personal views

There is little US news out today, and even that comes latter in the day.

For GB though heres a generalization on what we got:

Claiment Count Change

This is the change of how many people are not working and claiming off the government in past month so the more of these people we got the worse it is for economy.
Previous figures show around 35k - 40k mark, generally better than expected. Decemeber though showed massive difference at 75k when only 45k was expected. So bad news.
However the forecast values for this month show 82k, so the expectation is to be bad. I think it is likely to be bad, but theres a better chance of it being better than expected which wud be good news.

MPC Meeting Minuites

expected vote is 0-9-0, so a vote for future interest rate cut is expected.
Unanimously, so it cant get worse than that. Although i do understand that sometimes is can be good for economy for interest rates to drop. The problem we are having in the UK is that banks are not passing on these interest rate cuts that keep occuring, because they are greedy pigs and need shooting.
So i dont really know what to make of this, we need lower interest rates to help with business lending and mortgages, yet need investment so ideally want higher interest rate. I wud appreciate other input on this.

Average Earning Index

Generally how much businesses are paying for labour. This needs to be better than expected. a higher figure will show business are paying more to people, which in turn means we spend more, so good for economy.
Expected to be around 3.3%. Previous figures have been around 3.4% and 3.3%. I think it has the potential to be worse than expected, why?
Well its a 3 month moving average compared to the previous year, and this year i know that a lot of business have been taking on less staff this season. The general sentiment in uk is not to spend a great deal especially with rising bills. So i think its got potential to be worse.

Public Sector Net Borrowing

This does not really have one or the other effect. A higher than expected figure means a buget decifit, and negative figure indicates surplus.
Previous few months show a deficit, and dec particularly high at 16.0B.
This month forcast is 10.8B, and it needs to be this or lower I feel for it to be considered 'OK news'. If its higher than expected though then it cud really effect the curreny in a negative way.

Finally...
Some Guy speaks for BOE, (BOE Executive Director Paul Tucker)

I dont really know what to say bout this.

There are a couple of other reports, u can look at them for yourself, i just fort i wud post my thoughts on them.
Go here to read more. http://www.forexfactory.com/ lol.

Anyway expected figures are quite bad, but thats not whats inportant its the difference in actual figures to the predicted figures. I think as a whole the news will be a little better than expected, except for maybe average earning index. But theres no point second guessing cause i have little experience of news, just my feeling as i live here in UK.

I wud appreciate other peoples views on this.

cud we be seeing yet another descending triangle on m15?
This will be the third iv seen past few days.