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Cable Update (GBPUSD)

  • #113,661
  • Jan 21, 2009 10:03am Jan 21, 2009 10:03am
This will be interesting lads: 1.3680
Probability Professor
  • #113,662
  • Jan 21, 2009 10:05am Jan 21, 2009 10:05am
Second buy entry at 3700. stops 80 or so below
  • #113,663
  • Jan 21, 2009 10:05am Jan 21, 2009 10:05am
Quoting steelhead
Let me answer that question. Hell no!!!!!!!!!!!!!!!!! Time to think longs
OK, what will be the entry point? I am thinking about 3680.
  • #113,664
  • Jan 21, 2009 10:05am Jan 21, 2009 10:05am
Quoting Galation
This will be interesting lads: 1.3680
looks like it will break to me...
Patience + Discipline - Greed = Success
  • #113,665
  • Jan 21, 2009 10:05am Jan 21, 2009 10:05am
Quoting Professor4x
gbp/usd 1.0520 Usd/Jpy 79.80 Yen looks like good target over next couple weeks from here
Do you mean that the gpb/usd it's going to be in that????I think That is going to test the 1.3681 and then take way to the north
  • #113,666
  • Jan 21, 2009 10:06am Jan 21, 2009 10:06am
Quoting steelhead
Second buy entry at 3700. stops 80 or so below
I agree, a buy order could snap up some pips here as it is likely there will be some bounce from the support level.
Probability Professor
  • #113,667
  • Jan 21, 2009 10:06am Jan 21, 2009 10:06am
Capital Flow is rushing to asia. They always said this day would come and it's happening. Because of mulit trillion dollar reserves in japan and china due to our buying all their made products in walmart that they would control the world without firing a shot. Need a bail out call asia.
  • #113,668
  • Jan 21, 2009 10:06am Jan 21, 2009 10:06am
Quoting eohater
Looks like the scuba equipment needs to come out.
Think I will take friday night's beer money, change it to gbp and buy devon
  • #113,669
  • Jan 21, 2009 10:07am Jan 21, 2009 10:07am
Quoting Mr.mo
Do you mean that the gpb/usd it's going to be in that????I think That is going to test the 1.3681 and then take way to the north
No JPY
  • #113,670
  • Jan 21, 2009 10:08am Jan 21, 2009 10:08am
real choppy markets i think im stayin out for the rest of the day now, got there in the end with some heart attacks.
  • #113,671
  • Jan 21, 2009 10:10am Jan 21, 2009 10:10am
Lots of buy limit orders and probably mm's executing long orders at that level, thus the hard fast bounce. It was inevitable that there would be a bounce at least once.

I'm sure we will be back to test it. Next time, there may not be as many buy limit orders and less buyers. I think there will be some more bounces of this level: but eventually, the Dam may crack and burst forth.
Probability Professor
  • #113,672
  • Jan 21, 2009 10:10am Jan 21, 2009 10:10am
Quoting Professor4x
Capital Flow is rushing to asia. They always said this day would come and it's happening. Because of mulit trillion dollar reserves in japan and china due to our buying all their made products in walmart that they would control the world without firing a shot. Need a bail out call asia.
must be that plastic cockerel i bought in walmart - but come on that was an essential
  • #113,673
  • Jan 21, 2009 10:10am Jan 21, 2009 10:10am
Quoting allserene
Think I will take friday night's beer money, change it to gbp and buy devon
Wait a couple of days, old chap, and you'll be able to afford London too.
  • #113,674
  • Jan 21, 2009 10:11am Jan 21, 2009 10:11am
Quoting Professor4x
No JPY
Sorry I don't understand
  • #113,675
  • Jan 21, 2009 10:16am Jan 21, 2009 10:16am
Quoting Mr.mo
Sorry I don't understand
They yen 25 year low of 79.80 looks to be coming into play. The gbp target of 1.05 still has to get some legs to go but with monthly stoc's so oversold it doesn't look like gbp will test that. Jpy has plenty of room to go lower from here and fundamentals warrant a test to this low. Not speaking about going there today on yen but trending and trading to that low over next 3-6 weeks
  • #113,676
  • Jan 21, 2009 10:17am Jan 21, 2009 10:17am
Quoting Galation
Lots of buy limit orders and probably mm's executing long orders at that level, thus the hard fast bounce. It was inevitable that there would be a bounce at least once.

I'm sure we will be back to test it. Next time, there may not be as many buy limit orders and less buyers. I think there will be some more bounces of this level: but eventually, the Dam may crack and burst forth.
crack that dam dam man

I like dam cracking - damn cracking is good

I brought a truckload of gbp to the US at 2.01 - so this is making me homesick ! I would have almost 2 truckloads to take back !

RIP Boeing viva airbus !!!
  • #113,677
  • Jan 21, 2009 10:20am Jan 21, 2009 10:20am
Quoting Professor4x
They yen 25 year low of 79.80 looks to be coming into play. The gbp target of 1.05 still has to get some legs to go but with monthly stoc's so oversold it doesn't look like gbp will test that. Jpy has plenty of room to go lower from here and fundamentals warrant a test to this low.
Fundamentals, not monthly stoc's, will determine whether Cable tests 1.05. Personally, I doubt very much whether it will go this low, but I could be wrong.

A potential toxic mix of nationalised, insolvent UK banks, huge spike in unemployment and private and public debt that is deemed unmanageable will more likely determine sterling's direction in the coming months. These factors will not respect technical indicators.
  • #113,678
  • Jan 21, 2009 10:20am Jan 21, 2009 10:20am
Quoting Professor4x
They yen 25 year low of 79.80 looks to be coming into play. The gbp target of 1.05 still has to get some legs to go but with monthly stoc's so oversold it doesn't look like gbp will test that. Jpy has plenty of room to go lower from here and fundamentals warrant a test to this low. Not speaking about going there today on yen but trending and trading to that low over next 3-6 weeks
Thanks for your answer, i just play gbp, that means that I have to be ready for the longs ?? in gbp ? Thanks for your help
  • #113,679
  • Jan 21, 2009 10:23am Jan 21, 2009 10:23am
Quoting steelhead
Second buy entry at 3700. stops 80 or so below
Good risk/reward..
Patience + Discipline - Greed = Success
  • #113,680
  • Jan 21, 2009 10:24am Jan 21, 2009 10:24am
Quoting gammase1
Fundamentals, not monthly stoc's, will determine whether Cable tests 1.05.

A potential toxic mix of nationalised, insolvent UK banks, huge spike in unemployment and private and public debt that is deemed unmanageable will more likely determine sterling's direction in the coming months. They will not respect technical indicators.
Yo the man !

techies are ok when there is no driving force and everyone is wondering what to think - but when the house is on fire, you get the fire brigade quickly, you don't think - 'oh that fire 20 years ago only caused a bit of damage so it will be the same this time'

current fundies rule
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