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Cable Update (GBPUSD)

  • #120,141
  • Feb 12, 2009 4:54pm Feb 12, 2009 4:54pm
Quoting pmn100
It seems the eurozone does not like the way the UK has devalued the pound to become more competitive. How might this be addressed though? What exactly can be done to reverse GBP's weakness?

ahhh! that is the question...
G7 is looking at this as to try and stear the traders to help improve exports and gdp...what that means for each pair is up for interpretation.

if a weaker usd would benefit the world..then we may see more positive US sentiment...as more risk possibilities become a consideration.

so..dont be surprised if we hear more some really bad news for USA ...
  • #120,142
  • Feb 12, 2009 4:59pm Feb 12, 2009 4:59pm
Weaker USD benefits the world and in particular America - we need to deflate our debt by scuppering our currency, printing money and giving out lots of Government jobs.

However, I am given to understand that the Chinese will be supremely pissed if we devalue the greenback as they hold a bunch of the debt.
  • #120,143
  • Feb 12, 2009 4:59pm Feb 12, 2009 4:59pm
Quoting pmn100
It seems the eurozone does not like the way the UK has devalued the pound to become more competitive. How might this be addressed though? What exactly can be done to reverse GBP's weakness?
Well it appears to me that UK government needs to restore the confidence among investors, borrowers, lenders, etc. that PM Brown has this situation under control. I mean the events of this week must have quite a key role in the reason why we've fallen 700-800 pips in total; much of which was from the first couple of days.

What can be done in my point of view is have a banking reform with stricter interventionist policy; as for the next general election, i wouldn't fancy Gordon Brown's chances.

Peace
"The trend is your friend, until the end."
  • #120,144
  • Feb 12, 2009 5:04pm Feb 12, 2009 5:04pm
I've been watching for a while now and tried to get to grips with support/resistance. Thought it's about time I posted a chart. Do people think 1.4340 would be a good place for a quick retrace based on this analysis:
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  • #120,145
  • Edited 5:25pm Feb 12, 2009 5:12pm | Edited 5:25pm
Quoting ForexRookie
Well it appears to me that UK government needs to restore the confidence among investors, borrowers, lenders, etc. that PM Brown has this situation under control. I mean the events of this week must have quite a key role in the reason why we've fallen 700-800 pips in total; much of which was from the first couple of days.

What can be done in my point of view is have a banking reform with stricter interventionist policy; as for the next general election, i wouldn't fancy Gordon Brown's chances.

Peace
If we do drop down...I believe we will be testing the rising trend line that is represented from Jan 26th and today...if it holds..we may see upper limit testing

Im not trading until London session...and will be careful before reports...

1.4428
1.455x
1.48xx
1.4970

and then lookout..but ...we may be here in this range for a while..but we need to bust out downward and have a lower Price action below 1.4130 to be maintained and then we have a nice shorterm Bearish move...

my biggest concern is entry levels and exits.. :|
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  • #120,146
  • Feb 12, 2009 5:33pm Feb 12, 2009 5:33pm
Quoting JammerJams
If we do drop down...I believe we will be testing the rising trend line that is represented from Jan 26th and today...if it holds..we may see upper limit testing

Im not trading until London session...and will be careful before reports...

1.4428
1.455x
1.48xx
1.4970

and then lookout..but ...we may be here in this range for a while..but we need to bust out downward and have a lower Price action below 1.4130 to be maintained and then we have a nice shorterm Bearish move...

my biggest concern is entry levels and exits.. :|

For me, it's still in downtrend today, S1 1.4070, S2 1.3900. But today is Friday... wild day.......
  • #120,147
  • Feb 12, 2009 5:36pm Feb 12, 2009 5:36pm
my analysis tells me GU will drop hard very hard i have so many indicators confirmed that even on daily

this is a simple naked chart

i am short at 305 and waiting for 200 pips down or more

i will never think of going long unless one of these things happend

GJ close above 130 on 4h chart
GU close above 1.4320 in 4h chart

other than that the bias is still bearish

good luck every one
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  • #120,148
  • Feb 12, 2009 5:44pm Feb 12, 2009 5:44pm
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soon even the bear will fall
  • #120,149
  • Feb 12, 2009 5:54pm Feb 12, 2009 5:54pm
Quoting Bones
Looks like the pound is to be bullish.
I agree
  • #120,150
  • Feb 12, 2009 6:06pm Feb 12, 2009 6:06pm
Quoting Bones
Looks like the pound is to be bullish.
I agree with you ,it looks bullish on daily and 4H .Now how far the pair can go being bullish I don't see it more the 1.45-46 .And then we still going to finish down trend to 1.40 and lower.
  • #120,151
  • Feb 12, 2009 6:13pm Feb 12, 2009 6:13pm
Quoting Mooser
Weaker USD benefits the world and in particular America - we need to deflate our debt by scuppering our currency, printing money and giving out lots of Government jobs.

However, I am given to understand that the Chinese will be supremely pissed if we devalue the greenback as they hold a bunch of the debt.
Your understanding of economics is warped ,it is good to pay debit with a strong dollar.Think about it ,if you would pay your debit to your neighbors would you want to pay with your money that cost more and their money cost less
  • #120,152
  • Feb 12, 2009 6:45pm Feb 12, 2009 6:45pm
Here is what I am looking at
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  • #120,153
  • Feb 12, 2009 6:50pm Feb 12, 2009 6:50pm
Quoting sofia101
Your understanding of economics is warped ,it is good to pay debit with a strong dollar.Think about it ,if you would pay your debit to your neighbors would you want to pay with your money that cost more and their money cost less
You are right about that...makes the Iraq debt look a whole lot cheeper!

  • #120,154
  • Feb 12, 2009 7:01pm Feb 12, 2009 7:01pm
Quoting Shilva
You are right about that...makes the Iraq debt look a whole lot cheeper!

You got it .I just wonder how long they can fool everybody?
  • #120,155
  • Feb 12, 2009 7:38pm Feb 12, 2009 7:38pm
Ill try to help Mark.
You must be aware that Support turns into Resistance and visa versa ,and these are the best place to mark.
I have marked up the same chart as you as I would do it ,because it is Low Time Frame there are loads but I hope it helps.
I never had enough arrows but .....


Quoting MarkyBoy
I've been watching for a while now and tried to get to grips with support/resistance. Thought it's about time I posted a chart. Do people think 1.4340 would be a good place for a quick retrace based on this analysis:
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,156
  • Feb 12, 2009 7:50pm Feb 12, 2009 7:50pm
Anyone looking to buy? Little higher high, higher low action on the hourly combined with a close above the hourly 21-ema ... anyone playing a long to target 1.4450 tonight?
  • #120,157
  • Feb 12, 2009 8:05pm Feb 12, 2009 8:05pm
Quoting jack.canadia
Anyone looking to buy? Little higher high, higher low action on the hourly combined with a close above the hourly 21-ema ... anyone playing a long to target 1.4450 tonight?
No, I actually took a short off of 1.4311
Dr. C
  • #120,158
  • Feb 12, 2009 8:14pm Feb 12, 2009 8:14pm
i did too at 4313 .. just got stopped for minus 10 .. this was what i was looking for though and just about to write about!
  • #120,159
  • Feb 12, 2009 8:15pm Feb 12, 2009 8:15pm
a short term base might be in place now if we hold the break of 4320. im waiting a pullback for a long
  • #120,160
  • Feb 12, 2009 8:22pm Feb 12, 2009 8:22pm
Quoting sofia101
You got it .I just wonder how long they can fool everybody?
Your up early...

well..i was studying the g/u charts..and what I see is a potential testing of each resistence..if we get through it...

but..it may be painful..lots of pullbacks..
im very tempted to take it down..from where ever it goes..and not start trading until London session.


whats your view...
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