Cable Update (GBPUSD)

just for the sake of it. If I were to go long from here, I would tp at 9760 area and then again 9825-35 area. I would probably then just stay out of the market and see what happens next, with my finger on the trigger to start shorting. I would be very very cautious about setting up any longs over the 98 level.

Anyone knows why did that happen right at 3pm EST with Euro stocks? Didn't happen at NYSE

http://images.bloomberg.com/r06/homepage/HP_UKX.png

it did in currency...new home sale results pushed the euro up and stocks down...thats how isee

don't know @ cesar

and oops to those who sent me messages, I didn't notice them till now, sorry for the late replies.

thats what they say....
Closing note: US stocks have now closed on a strong note. S&P500 @ 1437.44. Nasdaq100 @ 1802.95. DJIA @ 12469.15. All the indices have rejected new lows for the day with a strong rally and technically they are now forming a hammer, which indicates a good chance for further advances in the days to come. This correlates well with the Carry Trades in the FX world, which are already higher...

Target 9900 and I'll burn the cash at once!!!!

GJ a killer today at late NYC

Making 50 pips now while cable stalls...

Cable rebounds strongly in early US session. Break of 1.9690 minor resistance
indicate that retreat from 1.9726 should have completed at 1.9570 already.
Break above 1.9726 high will confirm recent rally has resumed for 1.9913 high.
Meanwhile, below 1.9570 again will suggest that cable is still bounded in
sideway consolidation. But still, pull back is expected to be contained well
above 1.9395 cluster support (61.8% retracement of 1.9183 to 1.9726 at 1.9390)
and bring rally resumption.

In the bigger picture, with bearish divergence conditions being displayed in
weekly RSI and daily MACD a medium term top should be around the corner. The up
trend from 1.7047 should make a top after reaching 2.0076/0106 cluster
resistance zone (1992 high, 100% projection of 17047 to 1.9024 from 1.8090 at
2.0067, 61.8% projection of 1.8517 to 1.9913 from 1.9213 at 2.0076. And hence,
focus will be on reversal signal as cable approaches these levels.

On the downside, sustained break of 1.9215/17 cluster support will indicate
that the whole up trend from 1.7047 might have completed earlier then we
thought and should the bring deeper correction to 1.8834 cluster support (38.2%
retracement of 1.7047 to 1.9913 at 1.8818) first.

This one is better for me.

Looks like a good way to get your privacy but the fuel costs may be a bit high, particularly with the price of oil going up. You just will have to keep having those winning trades.

Actually, that puppy is nuclear powered and she can go 30 years between fill ups!

Support trendline (4-3-06 low of 17252 to 10-16-06 low of 18524), broken on March 5th, now offering support again. Resistance trendline (1-23-07 high of 19916 to 3-22-07 high of 19727) offering resistance. Price continues to compress within a pattern........when it breaks and will it be genuine or a false breakout.......don't know but these trend lines bear watching at the moment.

DJ MARKET TALK: Iran Could Put USD In Firing Line

Tue Mar 27 04:08:59 2007
EDT

0808 GMT [Dow Jones] As tensions over Iran's abduction of 15 British sailors
keep the price of crude oil back up at the $63/bbl-64/bbl levels seen in
December last year, the USD could well come into the firing line. Deutsche Bank
notes the recent negative correlation between the USD and crude prices due
first to the increase in fears of sub-trend growth and elevated inflation in
the US, and second to the rebalancing of oil exporter reserves, which would
increase demand for the EUR and GBP.

In my view, this is what Iran refers to when it says "attack me and you will have a greater damage".

[RESERVES TALK A THEME TODAY, NON USD SUPPORTIVE] There has been plenty of talk on the composition of central banks" reserves today. Iran, perhaps unsurprisingly given its recent posturing, has announced that its CB is now holding a minimum level of reserves in Usd, i.e. only 20%, giving hostilities as a cause for the diversification

hi cesar can you tell me why is falling down

oh i think they are just waiting for it to come cheap...
i dont see any strength in the dollar for the near term.

Th epund is seen to be very well supported ahead of the 5th april interest rates announcement ...probably further bashing to the dollar...in a sense right now the carry trades will rule the week. And if the monthly pin bar hold true...the dollar is in for some cooking.

Already retraced 50% hrrmm...

oh there u have it...im so glad i got in the yen at 232.2

From Fxcm

March 27. Cable has fallen to intra-day lows just shy of 1.9650 since Mervyn
King began his testimony to the UK Treasury Select Committee. In addition to his
earlier mentioned comments (please see story timed 08:48GMT), the BoE Governor
says it is "not surprising" there are differences among the MPC (Reuters). King
voted in favour of January"s unexpected 25bp UK base rate hike to 5.25%--which
was delivered by the narrowest of margins, 5-4.
Noted support points south of 1.9650 include 1.9640 and 1.9620. 1.9640 option
strikes roll off at the 14:00GMT NY cuts today and tomorrow (Wednesday).
1.9672 (today"s Asian session base) is now a resistance level. Upper obstacles
include 1.9700/05 and 1.9725. [email protected]