Cable Update (GBPUSD)

Sold at 1.9715

see where it goes

You'll take your profit :-)

Looks like it's still tough to break 9710-9720 ('Henrycarol' resistance)... how do you think, cesarnc?

Edit: Ah he's here now.

Hi cesarnc
where do you think is the support for GBP now? Thanks
Kumar

Gotta watch... Awaiting the classic second stab (rebound at 5M Mid BB).

If doesn't happen or doesn't cut through 9720s and we're having a nasty double top here......

Dip buyers at 9680 ahead of 9666, gut feeling. No info about that yet.

morning all

shorted cable at 9715 and 9700. stops above 9740 levels.

Greetz

oh and regarding my euro longs from over the weekend, kept buying, and just got out of some with profit, still holding 2 longs. I did short from 3280 to 3260 for gains last night too and just added another short strictly for short term basis, looking for a 15-20 pip pullback at least.

Short at 9701.

New-Home Sales in U.S. Drop to Lowest Since June 2000 (Update2)
By Joe Richter
March 26 (Bloomberg) -- New-home sales in the U.S. unexpectedly fell in February to the lowest level in almost seven years, dimming prospects for a quick revival in housing.


Full crap

looking at uj. it looks almost ready to fall soon.

Will cable ever re-trace......I am going to take a month off after this trade is finished...........am still short with my stop @850 from 652.....Should have taken my trade out when it was b\e.....

Looks like it might do another test on the area soon.

TORONTO, Mar 26, 2007 (COMTEX) -- North American markets were weak Monday morning after disappointing data on U.S. house sales renewed concerns about how the rapidly cooling sector could affect the overall economy.

On Wall Street, the Dow Jones industrials were down 82.44 points to 12,398.57 after the U.S. Commerce Department reported Monday that sales of new homes fell by 3.9 per cent last month to a seasonally adjusted annual rate of 848,000, the slowest pace in nearly seven years and much lower than the 985,000 economists had expected.

The February decline followed an even larger 15.8 per cent drop in sales in January. .
The Nasdaq composite index was down 13.44 points to 2,435.49 and the S&P 500 index dipped 9.64 points to 1,426.47.


The May contract for light sweet crude on the new York Mercantile Exchange gained 59 cents to US$62.87 a barrel on continued tensions between Iran and the West after Iran's detention of British naval personnel. Recent declines in U.S. oil stocks also supported the market.

Overseas, London's FTSE 100 index declined 28.9 points to 6,310.5.
Frankfurt's DAX 30 was off 4.81 points to 6,894.25 while the Paris CAC 40 declined 48.85 points to 5,585.9.
Tokyo's Nikkei 225 index added 41.35 points, or 0.24 per cent, to finish at 17,521.96 - its highest since Feb. 28.
In Hong Kong, the benchmark blue-chip Hang Seng Index added 73.21 points, or 0.37 per cent, to close at 19,765.85.

We may have had our Monday....

No donut for the chickens

Just happy I sold my short posistion last night..

Cable currently @ 77 what is it trying to do retrace all the way to 630 again??????

[CABLE] has been a major beneficiary of the Usd's setback, the Pound already firm on the crosses following the acceleration in the Hometrack HPI for Mar. An east European central bank has been a bidder in reportedly good size, though offers are expected around the 1.9729 high of last week. Note also that the pair may again struggle against the weight of long term players betting on no return to 2.0

just out of the 9715 short at 9677. still holding one and looking for a possible reload of short over 9700 again. Firm stop at 9745 for me now.