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Cable Update (GBPUSD)

  • #131,441
  • May 7, 2009 6:40am May 7, 2009 6:40am
Hey ERIC
I agree with your take. I think stronger GBP specially against $ detrimental to the economic well being of United Kingdom. Exports will suffer and again the vicious cycle will continue. I was told for u.k exports to be profitable with USA GBP need to below 1.45 at this juncture. As always Banks and Hedge funds have their say, they have the ultimate tool "CASH" they can move the market how they want.

Quoting EricB
I knew something was suspicious! Think about how much control these guys have - I reckon it was BoE themselves who were driving the price up as a precautionary measure to their announcement.
BANDA333
  • #131,442
  • May 7, 2009 6:45am May 7, 2009 6:45am
good stop GBP

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History Level GBPUSD

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  • #131,443
  • May 7, 2009 6:46am May 7, 2009 6:46am
wave analysis

target 1.4760
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  • #131,444
  • May 7, 2009 6:54am May 7, 2009 6:54am
Quoting BANDA
Hey ERIC
I agree with your take. I think stronger GBP specially against $ detrimental to the economic well being of United Kingdom. Exports will suffer and again the vicious cycle will continue. I was told for u.k exports to be profitable with USA GBP need to below 1.45 at this juncture. As always Banks and Hedge funds have their say, they have the ultimate tool "CASH" they can move the market how they want.
Hey Banda how is it going? Do you have a link for where you saw the figure? It would be interesting read - also just as an example the export value of UK education and training is £28bn, more than that of financial services. If the pound is weaker this is likely to increase along with several other UK non-manufacturing exports and yeild more profitable businesses (This example above gives a £300M loss to the industry on just the amount over and above for 1.51 compared to a 1.45 - using your figures), the question remains where do they want the pound to go?
  • #131,445
  • May 7, 2009 7:07am May 7, 2009 7:07am
I have seen in one of the blogs have to find it. I will try not sure if I can find. Look U.K lost car manufacturing business most of the exports will suffer. Compared to other countries U.K domestic market is not big. So need to vitalize your exports and utilize your innovations to make money from exporting your products. After reading that article I started shorting GBP when it went above 1.50 only to see loses........what to do this is a speculative market......there are no rules in the game.

Quoting EricB
Hey Banda how...
BANDA333
  • #131,446
  • May 7, 2009 7:13am May 7, 2009 7:13am
Quoting BANDA
I have seen in one of the blogs have to find it. I will try not sure if I can find. Look U.K lost car manufacturing business most of the exports will suffer. Compared to other countries U.K domestic market is not big. So need to vitalize your exports and utilize your innovations to make money from exporting your products. After reading that article I started shorting GBP when it went above 1.50 only to see loses........what to do this is a speculative market......there are no rules in the game.
There was a guy on Bloomberg yesterday night I cant remember his name but he had a good theory of the equity and fx rally being a manufactured co-ordinated event, with the kind of news, accountancy law change, currency swaps etc. It is a speculative market and even the big players have control over a limited amount of movement. Saying that if they intend it to go down to those levels then we should see mini bull traps that will enable banks to make some profit.
  • #131,447
  • May 7, 2009 7:34am May 7, 2009 7:34am
maybe this will work out today to next week?
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BANDA333
  • #131,448
  • May 7, 2009 7:51am May 7, 2009 7:51am
Quoting BANDA
maybe this will work out today to next week?
Banda/anyone - a little help please - could you please tell me what your lowest point on your chart was for EUR/USD at 13:36 GMT - I had my limit set as 1.32666 which should have been triggered but I think my pltform did something dodgy.
  • #131,449
  • May 7, 2009 7:54am May 7, 2009 7:54am
Attached Image
Gone to a better place
  • #131,450
  • May 7, 2009 7:55am May 7, 2009 7:55am
Quoting EricB
Banda/anyone - a little help please - could you please tell me what your lowest point on your chart was for EUR/USD at 13:36 GMT - I had my limit set as 1.32666 which should have been triggered but I think my pltform did something dodgy.
Mine was 1.3259. But in situations like this, I have seen very very big spread before, and I mean big like 10 - 20 pips, almost doesn't make sense.
  • #131,451
  • May 7, 2009 7:57am May 7, 2009 7:57am
Quoting 4cfx
Mine was 1.3259. But in situations like this, I have seen very very big spread before, and I mean big like 10 - 20 pips, almost doesn't make sense.
Anyone else please could you confirm the figure? I need to make sure my broker isnt messing me over
  • #131,452
  • May 7, 2009 7:58am May 7, 2009 7:58am
Eric GMT I am not good in that conversion...........let me post EU/$ chart
Sorry I was away attending to my son's wound.

Quoting EricB
Banda/anyone - a little help please - could you please tell me what your lowest point on your chart was for EUR/USD at 13:36 GMT - I had my limit set as 1.32666 which should have been triggered but I think my pltform did something dodgy.
BANDA333
  • #131,453
  • May 7, 2009 8:01am May 7, 2009 8:01am
Thanks a lot banda - hope your son is OK? It was 6 minutes after the news conference.

quote=BANDA;2718937]Eric GMT I am not good in that conversion...........let me post EU/$ chart
Sorry I was away attending to my son's wound.[/quote]
  • #131,454
  • May 7, 2009 8:03am May 7, 2009 8:03am
Quoting smikester
Attachment
Better no interest "0%"
  • #131,455
  • May 7, 2009 8:07am May 7, 2009 8:07am
looking to Short EU/$ if find a good price point now too early as previous 4H was bullish and EU/GBP is also appreciating .........GBP across the board down except against yen but EU doing good against majority so maybe not good to short ............will short all the spikes of GBP today.........for me a spike75-100 pips move from from a price point.
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BANDA333
  • #131,456
  • May 7, 2009 8:13am May 7, 2009 8:13am
the price still within the channel
next action to sell or buy? Clear break thru 1.5020 I will consider to sell
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  • #131,457
  • May 7, 2009 8:16am May 7, 2009 8:16am
Please could everyone help with confirming lowest point on their charts for six minutes after ECB news conference (13:36GMT) Help appreciated!!!
  • #131,458
  • May 7, 2009 8:20am May 7, 2009 8:20am
Quoting EricB
Please could everyone help with confirming lowest point on their charts for six minutes after ECB news conference (13:36GMT) Help appreciated!!!
i make it 50702 - hope that helps.
  • #131,459
  • May 7, 2009 8:22am May 7, 2009 8:22am
Quoting dimlat
i make it 50702 - hope that helps.
sorry for not making it clear - was looking for lowest point on EUR/USD.
  • #131,460
  • May 7, 2009 8:27am May 7, 2009 8:27am
Quoting redland
the price still within the channel
next action to sell or buy? Clear break thru 1.5020 I will consider to sell
I think there is still a leg up towards 1.53. The drop is most likely a retracement back down to 1.4950 - 1.50 region. So it depends on what your target is.
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