Cable Update (GBPUSD) | Page 6143 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #122,841
  • Feb 23, 2009 12:20pm Feb 23, 2009 12:20pm
Quoting kalparker
I'm concerned that we may get a big rally in the equities market, due to being oversold, that will translate into the Pound strengthening very fast.
You are right....

It may be 6500 for the launch point though

Anything under 7000 is a possible launch point

I have a ton of cash waiting to plonk into the DOW at that level and so has everyone else I bet - I am 37.7% in shares and the rest cash - just waiting

Just a sprig of news will do it - like Michelle has lost 20 lbs off her botty or Monika confirms her and Bill didnt go all the way after all or Rick Santelli denies 'final solution' plans for poor people
  • #122,842
  • Feb 23, 2009 12:20pm Feb 23, 2009 12:20pm
Quoting PipLand
Yep im still holding short, nearly all my MA's have crossed over and my 4 hr is just about bearish. But volume seems thin to me and anythign could happen at the moment. We could bounce up and take out my stop very quickly so im not holding my breath on this one.

I want to see below 1.4430 before I seriously start thinking about the lower support levels
I hear you mate. I am looking for a candle closing below 4335 to add to my short position. If it ever comes that is
Thank You
  • #122,843
  • Feb 23, 2009 12:30pm Feb 23, 2009 12:30pm
Hi everyone, never been here before but I read www.forexfactory.com every day for the News results. I have a long term strategy on the GBPUSD for 1.36 as this is a 7yr low and has only tested it once this time around so should do it again.

As today is Monday and there is always a run on Mondays of 300 to 400 pips. It was not suprising that the GBPUSD went up today as it was easier to go up from 1.4050 on Friday than to go down.

In the same way, since we hit 1.4664 again today, it is easier for it to go down again to 1.4200 than for it to continue to go up to 1.4800.

Anyway, that is my initial contribution.

Doug
  • #122,844
  • Feb 23, 2009 12:34pm Feb 23, 2009 12:34pm
Quoting PipLand
True, def something to watch out for markets have been one way for quite a few days now and must be due a little rally soon at least, esp at these levels! Although you wont catch me buying any stocks or indexes at the moment
The people who bought the DOW at 14,000 would not dream of buying now at 7,000 - they are still selling today and will sell more the lower it goes

Thankfully some things never change like buy low and sell high - so those guys will still be paying the minimum off their credit cards in 15 years time

me and Warren will be laughing our socks off (If we are still alive)
  • #122,845
  • Feb 23, 2009 12:41pm Feb 23, 2009 12:41pm
Can anyone advise me on what effects the DOW has on the GBP/USD? Sometimes it seems to follow it as it goes negative for the day and sometimes it seems to follow as it goes up for the day... Maybe it is just me.... Does it tend to have any effect at all on the Forex ?? Any help would be appreciated...
  • #122,846
  • Feb 23, 2009 12:45pm Feb 23, 2009 12:45pm
Quoting allserene
The people who bought the DOW at 14,000 would not dream of buying now at 7,000 - they are still selling today and will sell more the lower it goes

Thankfully some things never change like buy low and sell high - so those guys will still be paying the minimum off their credit cards in 15 years time

me and Warren will be laughing our socks off (If we are still alive)
You may well be right. I would consider buying at these levels if I thought there was at least a little bit of hope around the corner, maybe things look different over in the US. But from where Im standing in the UK the problems seem to have only just begun!

I reckon the footsies next stop is 3500
  • #122,847
  • Feb 23, 2009 12:54pm Feb 23, 2009 12:54pm
Yes, I would agree and if the footsies drops to 3500, that should bring GBPUSD down to 1.3600 or 1.3400. The GBPUSD has been dropping and the last few drops were from 1.5700 to 1.4600 & then back up to 1.5400. Then from 1.5400 to 1.4300 & back up to 1.4800, then from 1.4800 to 1.3400 and then back up to 1.4900 and then back to 1.4100.

The next drop should be again to 1.3400 and then back up to a top of 1.4300 before testing 1.30.

But today, I have a Sell in at 1.4650 with a TP at 1.4410 and another at 1.4227
  • #122,848
  • Feb 23, 2009 1:05pm Feb 23, 2009 1:05pm
Quoting PipLand
You may well be right. I would consider buying at these levels if I thought there was at least a little bit of hope around the corner, maybe things look different over in the US. But from where Im standing in the UK the problems seem to have only just begun!

I reckon the footsies next stop is 3500
When I was in the UK two weeks ago, I was holed up in my hotel room for 4 days, blinded with severe pulsing pounding sinusitis and watching the slush and snow. Then I spend 26 hours flying back (3 planes with 4 hour gaps) in agony. That plus watching stocks is about as depressing as it gets outside of being an iraq hostage. Actually I would have welcomed someone sawing my head off at that time. However, this COULD be the buying opportunity of a lifetime very soon now...not yet for the UK stocks - too many banks etc... yes I will continue cable shorts down to 1.36 - but not all at one go
  • #122,849
  • Feb 23, 2009 1:06pm Feb 23, 2009 1:06pm
EURUSD has broken the 61.8% line and down............... maybe.
  • #122,850
  • Feb 23, 2009 1:08pm Feb 23, 2009 1:08pm
there's the 448x level now. time to move the stop.
Thank You
  • #122,851
  • Feb 23, 2009 1:13pm Feb 23, 2009 1:13pm
On my charts, the GBPUSD just hit the bottom of my 5M down trend line at 1.4465 so it might go flat for a while or bounce up a little.

I am still staying in my SELL even though there is the temptation of closing it now and trying to get in at a higher price.
  • #122,852
  • Feb 23, 2009 1:13pm Feb 23, 2009 1:13pm
Quoting wormboy
there's the 448x level now. time to move the stop.
1.42 would be pleasant
  • #122,853
  • Feb 23, 2009 1:15pm Feb 23, 2009 1:15pm
Quoting allserene
When I was in the UK two weeks ago, I was holed up in my hotel room for 4 days, blinded with severe pulsing pounding sinusitis and watching the slush and snow. Then I spend 26 hours flying back (3 planes with 4 hour gaps) in agony. That plus watching stocks is about as depressing as it gets outside of being an iraq hostage. Actually I would have welcomed someone sawing my head off at that time. However, this COULD be the buying opportunity of a lifetime very soon now...not yet for the UK stocks - too many banks etc... yes I will continue cable shorts...
The FTSE100 is more of a geared play on the prospects for the global economy, rather than a punt on the UK's economic growth outlook, or lack thereof. Therefore, I believe that the FTSE100 will likely continue to follow closely the S&P 500.

One would need to invest in the broader FTSE 250 or 350 in order to take a punt more closely linked to the domestic economy.

This global theme is demonstrated by the weightings of the top 10 constituent companies in the FTSE100, which account for 52% of the total weighting. All of these companies, without exception, are huge multi-nationals with diversified geographical earning streams:-

1) BP 2) HSBC 3) Vodafone 4) GSK 5) RDSA 6) RDSB 7) AZN 8) BAT 9) BG Group 10) BHP Billiton

The dividend yields on the above companies, with the exception of HSBC (who are likely to either slash or suspend their dividend in the coming weeks), are immense and still look reasonably secure, as (roughly) illustrated below:-

BP - 9%, VOD - 6%, GSK - 6.5%, RDSA - 6.7%

In fact, using a price/forward earnings ratio as a comparative measure, the S&P500 actually looks very overpriced in relation to the FTSE100. For these reasons, I am opting to increase my equity exposure in the coming days, scaling in very gradually on a selection of the above top 10 companies (not yet on HSBC), using a buy and hold approach (unless there is big short-term rally!). I am happy to enjoy the income from future dividends while I wait patiently for capital appreciation. If there is another major leg lower in equities, then I shall use it as another buying opportunity in the UK and also in Asia (ex Japan).
  • #122,854
  • Feb 23, 2009 1:15pm Feb 23, 2009 1:15pm
Quoting allserene
1.42 would be pleasant
yes sir, it certainly would
But we're at 38.2 fibs now. This is going to be tough.
Thank You
  • #122,855
  • Feb 23, 2009 1:20pm Feb 23, 2009 1:20pm
Quoting thirtypips
On my charts, the GBPUSD just hit the bottom of my 5M down trend line at 1.4465 .
same, and mky 38.2 of the up move from 20 Feb
  • #122,856
  • Feb 23, 2009 1:30pm Feb 23, 2009 1:30pm
1H pin bar is forming, hopefully we are not reverse the trend.
  • #122,857
  • Feb 23, 2009 1:33pm Feb 23, 2009 1:33pm
Quoting allserene
When I was in the UK two weeks ago, I was holed up in my hotel room for 4 days, blinded...
LOL doesnt sound like you had too good a time!! 1 plane at a time is enough to annoy me as well let alone 3!!

If cable went down to 1.36 that would be great esp if im still in my short!! think i would have closed it completely long before then though. 4480 is putting up a good fight at the moment.

It could be a great buying oppurtunity im gonna sit back though and see where it goes for now. I was thinking about scaling into some oil last week when it went down but i chickened out i might get another chance though
  • #122,858
  • Feb 23, 2009 1:36pm Feb 23, 2009 1:36pm
Quoting trader8686
1H pin bar is forming, hopefully we are not reverse the trend.
Too early to be looking at the current 1h candle for direction. Wait until about 5m before it closes.
Just digging in the trenches like everyone else!
  • #122,859
  • Feb 23, 2009 1:40pm Feb 23, 2009 1:40pm
30 minutes closed as pin bar 5 minutes ago. Does that count?
  • #122,860
  • Feb 23, 2009 1:43pm Feb 23, 2009 1:43pm
Nice bullish hammer at M30 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
336 traders viewing now