Cable Update (GBPUSD)

Cable´s not finding any buyers up here. The Euro´s made new highs, but cable´s not following - yet. I´ve closed my other position and will look to buy again lower...the overnight highs around 9835 would be nice and about a 55% retrace of this mornings rally.

Hi guys.. im still a newbie here.. looks like big day for in-n-out is coming soon.. to the closing long on .9913. In return, i guess i will fill in ur place since im still holding short on .93 due to my inexperience. hoping for some "guidance" from u all here. And hope that soon i will get myself out of this problem too.

heya dd33,

I don't know about a .93 move but one thing is sure, what goes up must come down and what downs down must go up at some point. I am a noob to this site too. I do think at this time it will go down to 9700. Just my thoughts, don't plan on it I am just thinking out loud. I do wonder though if the powers that be will let the gbp pass much higher. A high gbp vs. usd is not good for the brits. we shall see though. Good fortune dd33. and to all.

Cable retraced off that last surge and it bounced off the hard charging 14sma @ 9840 on the 15min chart. A good 15pipish leap off it and looks to retain it's bullishness. It's formed an upper TL on the 15min and it's looking like it want to bust it as I write this. It has just now. A breaking of a minor TL it just built off this past surge isn't going to be going far but it just helps analyze the price action. If the pair is making little breaks of minor TLs long more than short it's more bullish. More busting of lower minor TLs, bearish. It could rock back and forth over a couple small consolidation waves so it's good to then study the more significant TL lines that get created by that period of time. They will show up on the 1hr and 4hr charts as compared the the more insignificant ones that get created on just the shorter time frames which are illustrated in my chart.

Looks like it's trying to bust the high it just set already. Off to the races maybe. I guess we'll see. I still have my long from 9815.

Anyone still think we will see 236 tomorrow?

That's why I don't overestimate the techis despite of the fundis. Dollar was sold off heavily at early Tolyo on Tue, Wed and Thu. Why not Fri? I waited and traded.

The key was realizing that cable and euro were spending too much time at high levels. Same for all other */USD.

Was crystal clear they were going to push against the dollar.

There were just 2 points were offers were reported to be: 9810 and 9825. Cable handing out at 9795? after a day like Y'day?

All about patience...

Can anyone tell me the quickest source of these figures. I have Bloomberg on the television but I get the impression they are not always the promptest.

Regards

MikeH

Long posiition @ 1.9783 still open
Short position @ 1.9809 closed @ BE
I placed another long @ 1.9812 TP 1.9865 (Target is reached)

big flag on cable 30m

upside breakout should be violent

yup yup..... 15min chart....

wat do u think abt cable coming to 9600 is it going to be soon like days or weeks.....
thc

bloomberg radio

The answer for this depends on finding the top of this big up move since 92s. Thinking about a down move before realizing that is waste of time.

Just for the records:

07:00 USD getting clobbered on Friday the 13th

For hours upon hours, in weeks after weeks, filling month after month over the years of drawing trendlines I don't even need to draw them anymore....I still see them. My charts don't have any trendlines on them but they have more MAs. I still use trendlines with my trades even without drawing them...I got lazy.

USD-negative news expected, as USD-index (for you bravado) is now at 82.004, few pips from the respirator.

Better watch for usual B.S. coming out of PPI, either actual or, most likely, the dreaded revison

I'm so sorry, what do you mean by usual B.S?

revisions coming USD-positive just after strong USD-negative actual, right during USD under pressure, inverting the overall sentiment.

Check NFPs for reference

That's HUUUUGGEEE

Gbp players are awaiting a speech by BOE's Gieve. However, such anticipation has not prevented bulls from continuing to plough into [CABLE] on a perceived positive BOE interest rates outlook even at these relatively frothy levels. A US investment house has been a noted seller today, but Gbp/Usd continues to grind higher, initially towards 1.99. Broader Usd weakness is the main theme, with the Pound little real changed versus the Euro and Jpy in Europe. Much will depend on the US data, in particular PPI, to come in the very short-term, but we do not expect today's numbers to materially affect this market's main target, which appears to be for a test of the psychological 2.00 level in the very near future.

ok got that, well lets see what the news will bring