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Cable Update (GBPUSD)

  • #125,541
  • Mar 9, 2009 7:50am Mar 9, 2009 7:50am
Fall is due to DOW weakness, not dollar strength. Don't kid yourselves. When, (or if) the DOW the rallies, up this will go.
  • #125,542
  • Mar 9, 2009 7:51am Mar 9, 2009 7:51am
Quoting penycae
Fall is due to DOW weakness, not dollar strength. Don't kid yourselves. When, (or if) the DOW the rallies, up this will go.
over the weekend a mate of mine posted an interesting chart showing how Dow and cable have disconnected over the past 4 to 6 weeks. Dow has fallen and cable has maintained sideways movement. Well it seems to be correcting now.
  • #125,543
  • Mar 9, 2009 7:52am Mar 9, 2009 7:52am
as long as EUR/USD down GBP/USD will go DOWN too .... wow
  • #125,544
  • Mar 9, 2009 7:55am Mar 9, 2009 7:55am
if its hold and see reserval we'll see reserval by GBP/USD too ... and if not down down down ....
  • #125,545
  • Edited 8:13am Mar 9, 2009 7:55am | Edited 8:13am
Don't trade against the trend friend ! I have no more fibo fan support since 1.4815 broken on H1 ! Wait for a few hours to see next PA if you want to go long !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #125,546
  • Mar 9, 2009 8:03am Mar 9, 2009 8:03am
Quoting dogol
as long as EUR/USD down GBP/USD will go DOWN too .... wow
They have a correlation coefficient of over +0.90, I trade both, and sometimes it actually tricks you a bit. So just be careful.
  • #125,547
  • Mar 9, 2009 8:06am Mar 9, 2009 8:06am
Quoting penycae
Fall is due to DOW weakness, not dollar strength. Don't kid yourselves. When, (or if) the DOW the rallies, up this will go.
It's not the Dow that's caused today's movement. It's connected with heavy pressure on UK banking stocks.
  • #125,548
  • Mar 9, 2009 8:07am Mar 9, 2009 8:07am
I am Buying Cable at 1.3800 with stop @ 1.3400 and T/P @ 1.4132
  • #125,549
  • Mar 9, 2009 8:09am Mar 9, 2009 8:09am
Going to try a long, 1.3783...looks good for a retrace...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #125,550
  • Mar 9, 2009 8:12am Mar 9, 2009 8:12am
We hit a pretty good support on the GBPJPY pair and it may have popped this old girl up with it. I dont see it going far tho and most certainly will not be a buyer until at least the end of the very gloomy UK trading day. Look back on your charts and can anyone find a relatively recent trading day which posted gains during the US morning following a clear bear UK morning. A dead cat just does not bounce until sentiment changes. Give us an unlikely 23% retracement and I will be back to add to my shorts.

There is also a massive USD Debt auction this week and with sentiment this low, it is likely that see continued flow into treasuries and into the USD this week. Most probably this hovers back to for a bear flag and down we go again. Unless we find a hint of good news or somebody fires Gordon's Brown.
Ride the Bulls bearback!
  • #125,551
  • Mar 9, 2009 8:14am Mar 9, 2009 8:14am
Quoting Komissar
So, another 300 pips of free fall?
Yeah thats pretty much what I think. Im sure the price will stall in between, its dropped over 300 pips so realistically cant expect it to go 600pips in one day. But I really dont expect any sort of bounce out of this. Im currently flat at the moment. I dont see any support until 1.3730.

I will consider longs between 1.3500 - 1.3600. A drop below 1.3500 will signal that the Bear trend will continue so I wont be looking for longs past that level until some sort of base has been established as there might not be support until 1.30
  • #125,552
  • Mar 9, 2009 8:15am Mar 9, 2009 8:15am
It closed right on my 5th level gap fib line (3781) at 9:00. I'm waiting till at least 1/4 maybe 1/2 past the hour for a clue.
Ghost Rider - WWTBMD?
  • #125,553
  • Mar 9, 2009 8:16am Mar 9, 2009 8:16am
Quoting Magix
Going to try a long, 1.3783...looks good for a retrace...
right decision at this time and don't listen bears
ROBOT FOREX
  • #125,554
  • Mar 9, 2009 8:22am Mar 9, 2009 8:22am
I don't know. If he's long at 3783, he has a long wait to get back to b/e now. Looks like it's continuing south for a while. Still watching myself.
Ghost Rider - WWTBMD?
  • #125,555
  • Mar 9, 2009 8:24am Mar 9, 2009 8:24am
Wow, you could swear the UK was the only one in trouble the way this is falling
  • #125,556
  • Mar 9, 2009 8:25am Mar 9, 2009 8:25am
Holding 1.3783, 1.3787, 1.3756 for longside.

Bearish chart, but still oversold....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #125,557
  • Mar 9, 2009 8:30am Mar 9, 2009 8:30am
the bottom is around zero ... really, good bottom will be the parity with dollar..

sometime ago, i said: 1 dollar = 1pound = 1 euro = 100 yen... my god, is so close that time!!!!
  • #125,558
  • Mar 9, 2009 8:35am Mar 9, 2009 8:35am
Quoting cesarg
the bottom is around zero ... really, good bottom will be the parity with dollar..

sometime ago, i said: 1 dollar = 1pound = 1 euro = 100 yen... my god, is so close that time!!!!
And if it happen, what we are going to do?
  • #125,559
  • Mar 9, 2009 8:36am Mar 9, 2009 8:36am
Quoting cesarg
the bottom is around zero ... really, good bottom will be the parity with dollar..

sometime ago, i said: 1 dollar = 1pound = 1 euro = 100 yen... my god, is so close that time!!!!
I don't see the bottom but I see pound closing today or tomorrow morning around 1.39
ROBOT FOREX
  • #125,560
  • Mar 9, 2009 8:38am Mar 9, 2009 8:38am
We have a monthly support low at 3681 fellows, I dont see it going much lower without a retracment.

J
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