Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#128,921
Apr 5, 2009 2:32pm Apr 5, 2009 2:32pm

jack.canadia
Joined Dec 2008 | Status: Conservative | 2,112 Posts

Also, M15, H1 and H4 MACD's are all bearish diverging.

#128,922
Apr 5, 2009 5:57pm Apr 5, 2009 5:57pm

Mohammad
| Joined Feb 2009 | Status: Trader | 35 Posts

GbpUsd Update

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#128,923
Edited 6:33pm Apr 5, 2009 6:06pm | Edited 6:33pm

forex888
| Joined Dec 2007 | Status: I like volatility | 398 Posts

am expecting POUND will weak starting on Wednesday becasue of the Bank holiday on Friday. Sure will less licquidity.

Please becareful that Most of the Large traders is still short in POUND according to last week COT data. Even a slight weak news from POUND data will definitely make it fall from the skY!!

P/s - Hedge funders 59% are LONG

#128,924
Apr 5, 2009 7:24pm Apr 5, 2009 7:24pm

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

What about the $ tho...Kabuse with bearish close ,last week tho not great location.

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On-site guru & also FF member's' psychiatrist, when not drinking tea

#128,925
Apr 5, 2009 8:10pm Apr 5, 2009 8:10pm

ThomKnight
| Joined Mar 2009 | Status: Trader | 526 Posts

Quoting Bones

Disliked

What about the $ tho...Kabuse with bearish close ,last week tho not great location.

Ignored

DXY is cooked imo. tgting 80-79 GU to about 1.56 on monthly term is pretty obvious imo.

TK

#128,926
Apr 5, 2009 8:59pm Apr 5, 2009 8:59pm

fammira
| Joined Jan 2009 | Status: Cesco | 1,140 Posts

i see chances for a pullback before Cable moves up again

went short at 1,4925 and will add position on the way to 1,5 with a target 1,46 and a stop above 1,50

#128,927
Apr 5, 2009 9:19pm Apr 5, 2009 9:19pm

zapper
| Joined Aug 2008 | Status: Trader | 552 Posts

Quoting fammira

Disliked

i see chances for a pullback before Cable moves up again

went short at 1,4925 and will add position on the way to 1,5 with a target 1,46 and a stop above 1,50

Ignored

ya... i agree on that. There would be atleast some sort of position adjustment or profit taking before 1.5, since it`s a BIG thing... lol

#128,928
Apr 5, 2009 9:26pm Apr 5, 2009 9:26pm

ThomKnight
| Joined Mar 2009 | Status: Trader | 526 Posts

fwiw...

if you look at the overall picture it can(maybe) be more clear as it is the driver for shorter tfs(if you agree).

IMHO near term shorts will be on the wrong side of the trade(or not). nothing goes straight down with out a correction.

Just a thought. It seems logical ( to me) to not take a long dollar pos ATM.

TK

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#128,929
Apr 5, 2009 9:45pm Apr 5, 2009 9:45pm

zapper
| Joined Aug 2008 | Status: Trader | 552 Posts

Quoting ThomKnight

Disliked

fwiw...

if you look at the overall picture it can(maybe) be more clear as it is the driver for shorter tfs(if you agree).

IMHO near term shorts will be on the wrong side of the trade(or not). nothing goes straight down with out a correction.

Just a thought. It seems logical ( to me) to not take a long dollar pos ATM.

TK

Ignored

That is very sensible. But what might appear to be a correction might actually develop into a strong trend. But former resistance at 1.498s are strong and might have atleast a little psychological pressure and weigh down the pound...

#128,930
Apr 5, 2009 9:48pm Apr 5, 2009 9:48pm

sinyo79
| Joined Mar 2009 | Status: Millennium Penata Futures | 64 Posts

i'm agree, market will test to 1,4998 higher level berfore.... if could break the resistance 1,50 will coming soon

#128,931
Apr 5, 2009 11:16pm Apr 5, 2009 11:16pm

forex888
| Joined Dec 2007 | Status: I like volatility | 398 Posts

Gbp recovery on doubt, another rate cut is coming

FXstreet.com (Buenos Aires) - U.K. Chancellor Alistair Darling has admitted that he and his Treasury officials got it wrong over the length and severity of the recession and that he will be forced to tear up his economic predictions. The growth forecast is expected to be slashed in the budget to be release on April 22nd, and he also warned that there will be no economic recovery until the end of the year. “It's worse than we thought,” Darling said this weekend.

#128,932
Apr 6, 2009 3:21am Apr 6, 2009 3:21am