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Cable Update (GBPUSD)

  • #126,641
  • Mar 16, 2009 8:37am Mar 16, 2009 8:37am
Please check the chart
Attached Image (click to enlarge)
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  • #126,642
  • Mar 16, 2009 8:41am Mar 16, 2009 8:41am
Quoting Abuawad
Please check the chart
Nice one abu. Here's what I had a few hours ago & atm it seems 4150 level is keeping the bulls out.
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Thank You
  • #126,643
  • Mar 16, 2009 8:49am Mar 16, 2009 8:49am
On 15 Min chart there are head and shoulder formating not complete yet left shoulder should close below 1.4163
  • #126,644
  • Mar 16, 2009 8:49am Mar 16, 2009 8:49am
For now this was a pure technical stop, and good spot on, guys. Imo pound is bullish, but retracement is comming. It can retr to it's 50% - 1,403
  • #126,645
  • Mar 16, 2009 8:55am Mar 16, 2009 8:55am
Target around 1.403
  • #126,646
  • Mar 16, 2009 8:59am Mar 16, 2009 8:59am
Quoting pipsbull
For now this was a pure technical stop, and good spot on, guys. Imo pound is bullish, but retracement is comming. It can retr to it's 50% - 1,403
Spot on sellers dont have lot of steam im also looking at 4080 too as a possibility
Trade less make more!
  • #126,647
  • Mar 16, 2009 9:00am Mar 16, 2009 9:00am
Quoting Abuawad
Please check the chart
Nice TA AbuAwad. Kindly see my below chart for the suggested TP.

Cheers,
Attached Image (click to enlarge)
Click to Enlarge Name: 3-16-2009 4-54-25 PM.png Size: 35 KB
Sniffing Snake's Tracks...
  • #126,648
  • Mar 16, 2009 9:07am Mar 16, 2009 9:07am
what is the target , gentlemen?1.403x?
  • #126,649
  • Mar 16, 2009 9:13am Mar 16, 2009 9:13am
I'm looking more around:
1.3899
1.3803
1.3792
1.3670
1.3612
1.3443
  • #126,650
  • Mar 16, 2009 9:16am Mar 16, 2009 9:16am
Quoting Abuawad
I'm looking more around:
1.3899
1.3803
1.3792
1.3670
1.3612
1.3443
Im with you on this one!

Sentiment is down from bad news once losses/profit taking starts to pick up then it can accellerate very quickly, were coming off of a weekly high in stock markets some profit taking was already expected at these levels even with no catalyst
  • #126,651
  • Mar 16, 2009 9:19am Mar 16, 2009 9:19am
I think it will bounce off 1.403
Attached Image (click to enlarge)
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  • #126,652
  • Mar 16, 2009 9:20am Mar 16, 2009 9:20am
GBP/USD

The pair is also overbought in short term trend.

It is possible that we will see pull backs to 1.39 and 1.38 respectively in 2-3 sessions, US Asia and Eu in coming hours.
  • #126,653
  • Mar 16, 2009 9:21am Mar 16, 2009 9:21am
Quoting abbassi
I think it will bounce off 1.403
i think it will break its not that strong line. but lets see...
  • #126,654
  • Mar 16, 2009 9:25am Mar 16, 2009 9:25am
Quoting abbassi
I think it will bounce off 1.403
Bear in mind that EG has also broken back up through resistance and this will weigh on any advance in the £ in the short term
  • #126,655
  • Mar 16, 2009 9:35am Mar 16, 2009 9:35am
I'd like to see the Dollar breaking the 86.50 as a confirmation.

Cheers,
Attached Image (click to enlarge)
Click to Enlarge Name: USD Index.png Size: 21 KB
Sniffing Snake's Tracks...
  • #126,656
  • Mar 16, 2009 10:08am Mar 16, 2009 10:08am
Does anybody not see that this is going back to 1.3500 area? We just got slammed up against the 1.4250 resistance level and has been knocked down from there. Anybody agree or is this broccoli screwing with my head?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1D.gif Size: 34 KB
  • #126,657
  • Mar 16, 2009 10:10am Mar 16, 2009 10:10am
so then, when will we have upward retracement?

http://preview.shareapic.net/preview5/015422619.gif
happy pps!
  • #126,658
  • Mar 16, 2009 10:12am Mar 16, 2009 10:12am
Quoting Abuawad
I'm looking more around:
1.3899
1.3803
1.3792
1.3670
1.3612
1.3443
With all respect, Abuawad, I don't see price to reach those levels at least untill price forms back below 1,4. This recent fall is correction imho.
I also see rise in 5waves in pound. Could be different levels of waves stops. But my final target is firm - 1,6-1,61, to it's 50% fib retr. But that is a long term play. Also, it is important for me that it made higher low on daily and Soros stopped selling, once Gbp went below 1,4)
Attached Image (click to enlarge)
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  • #126,659
  • Mar 16, 2009 10:18am Mar 16, 2009 10:18am
Quoting doughnut
Spot on sellers dont have lot of steam im also looking at 4080 too as a possibility
well im long 4090 looks like good retacement to go long
Trade less make more!
  • #126,660
  • Mar 16, 2009 10:21am Mar 16, 2009 10:21am
Quoting bradorboy
Does anybody not see that this is going back to 1.3500 area? We just got slammed up against the 1.4250 resistance level and has been knocked down from there. Anybody agree or is this broccoli screwing with my head?
Ah 3500. My favourite question
Bulls just got crushed trying to go long way too early. Here are 2 of my charts. (sofia will remember this one ) Beautiful
If you're short, keep the stops tight (preferably just above the wedge). If you're holding long .... well ... good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable.JPG Size: 89 KB
Click to Enlarge Name: cable2.JPG Size: 88 KB
Thank You
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