Cable Update (GBPUSD)

I feel this would be a good TP level if one has been long. I wouldn't be opening short positions here, though . Flat for now.

i agree if it gets to 5190 i will also enter long around there.

When would you go long again?

I think that's it for me for 2day.

Still holding my short from 1.5270..... my SL is @ break even which is close enough to the break out, so 1.5270 is where i also have my buy order, otherwise just holding short.

sure your SL will not hit and it will down and we all will out safely coz since past 2 hours market movement is around 150 pips so i think it will retrace and will be down let see what happens

Ub

How long have you been holding that trade?

Thats the plan my friend..... however if plan A does not unfold.... maybe plan B will

Since friday session

CityPips Subscribers,

Please enjoy the following fundamental analysis summary related to trading this week.

Last week the US Consumer Confidence reported the highest number since before our credit crisis and Industrial Production contracted at the slowest pace in six months! Summers, the Director of the White House National Economic Council, said on Saturday that “The U.S. economy is no longer in ‘freefall’!”

This could mean that we will start to see consumers spending more and thus continue to revitalize not only our economy but the economies around the world as the trickle-down effect takes place. As the old saying goes, when the US sneezes, the world catches a cold! So the increased consumer spending and revitalization of the US economy can have a big impact on the world economy.

We know that usually when we receive strong economic data for the US, we see a selloff in the USD; however, by the latter part of the week, we saw a slight turn-a-round which begs the questions, why? Some analysts believe the reason for the USD rally was because of stronger foreign demand, a positive TIC report on Friday showed this, and the news that GM will be closing more dealerships. A few other reasons for the rally in the USD could be based on the week economic data from the other countries.

CAD, AUD & NZD: Last week, we saw a rally in commodities come to a standstill which affected the commodity currencies. This week, we will want to look at CPI and Retail Sales for the CAD, Consumer Confidence for AUD and PPI for the NZD.

CHF: Last week the Swiss bank said that in order to ward off deflation, they may need to buy Euros once again. Their possible intervention in the Forex markets increased investor’s fears and we saw the CHF sell off. The last time the SNB intervened we saw the EUR CHF sell off by about 500 pips in one day!

GBP: Last week King thought they may not recover as quickly as previously expected. This week we want to look out for the CPI and the GDP reports to show if the Bank of England will need to print more money. If so, we will see Pound weakness.

EUR: Last week their GDP data showed that the German and Italian economies contracted the most in 40 years; and even though Consumer Prices increased by a little bit, the CPI shows that they are still below the their 2% inflation target rate. This week we want to keep an eye on all of the Euro zone reports for confirmation of Euro weakness.

Based on the forecasts for this week’s USD reports, we should see positive economic data for the US which means we should see USD weakness.

Happy Trading!

The CityPips Team



Read it i got email from citypips so i thoguth to share it here with all traders family

Ub

GU find a resistance at 250

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History Levels GBPUSD

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anyone shorting from here?? 5255?? This monster keeps going up

I am short at 1.5250

I would also go short but i just need some of my smaller time frame graphs to turn to bearish. Although the upward movement was halt last hour, i still feel the price needs to go a bit lower to enter a short position.

im short from 5240 hope it will down now it is overbought already

Ub

thanks, i think i have missed entry point??

here is GBP trade levels



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History Levels GBPUSD

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I set my tp at 1.5205

Sell Stop at 1.5235..

S/L 1.5360

I think it's gonna break up

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forexinterval

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