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Cable Update (GBPUSD)

  • #132,961
  • May 19, 2009 4:43am May 19, 2009 4:43am
Quoting mloistianto
well this is must be a though day. have u close all your trade mr kingindian?u open so many shorts before..
still floating everywhere i guess.
but at the brink i have using chance to buy with bigger size and already closed it...
so...now its time to wait for up or for down.
- Always pray on your trading - God know the best for everyone
  • #132,962
  • May 19, 2009 4:51am May 19, 2009 4:51am
Hi - is there any reason for a positive $ sentiment with the TARP pay backs from big banks?

Will the government withdraw that money from the system?
  • #132,963
  • May 19, 2009 4:52am May 19, 2009 4:52am
Quoting Galatasaray
as long as we stay below 1.5505 it could be logical to go short, but there is not any bearish setup at all.
It could take a few hours for me to enter short, but i wont be long anymore today unless the pair falls towards 1.5381 and than decides to go up again.

If you look at weekly and daily's momentum a short should be a quick scalp...
  • #132,964
  • May 19, 2009 4:53am May 19, 2009 4:53am
This is for the shorties, 1.5500 broke and its kicked back to a wave of buyers. Look for it to move the the next ressistence level which is 1.5540.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #132,965
  • May 19, 2009 4:54am May 19, 2009 4:54am
  •  Sahil
  • | Joined Jan 2009 | Status: Options Trader - Commodities & FX | 24 Posts
Original Post : http://www.forexfactory.com/showthre...05#post2733805

I follow COT very closely as I am a long term trader of Forex and Commodity Futures and options.

GBP was oversold and now correcting itself but it has not been overbought yet.
According to COT, All the big speculators are still adding to the long positions for British Pound, and cutting their short positions.

I am looking the target of 1.70 in coming few months. But it has to break the correlation with GOLD and OIL.
  • #132,966
  • May 19, 2009 5:03am May 19, 2009 5:03am
US housing data in 30 mins
  • #132,967
  • May 19, 2009 5:04am May 19, 2009 5:04am
i took the opportunity to go long..banks are playing games
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  • #132,968
  • May 19, 2009 5:07am May 19, 2009 5:07am
Quoting I like steak
If you look at weekly and daily's momentum a short should be a quick scalp...
yep. i was thinking about it but i am more of a follow the beginning of the trend guy, i find it safer than scalping and trying to find retraces. I will look for an opportunity to go long if the price falls to 1.5381.. or perhaps short the pair sometime during the american session if the price falls even lower than 1.5381.
  • #132,969
  • May 19, 2009 5:08am May 19, 2009 5:08am
Quoting Sahil
Original Post : http://www.forexfactory.com/showthre...05#post2733805

I follow COT very closely as I am a long term trader of Forex and Commodity Futures and options.

GBP was oversold and now correcting itself but it has not been overbought yet.
According to COT, All the big speculators are still adding to the long positions for British Pound, and cutting their short positions.

I am looking the target of 1.70 in coming few months. But it has to break the correlation with GOLD and OIL.
i think that can be achievable so long as monthly closes above 1.54
  • #132,970
  • May 19, 2009 5:14am May 19, 2009 5:14am
looking for a drop to 350 or 375 before continuing upwards...
  • #132,971
  • May 19, 2009 5:15am May 19, 2009 5:15am
i think if US data is stable (green) there will be high resistance against up side going GBP
CrizZzZzZzZz
  • #132,972
  • May 19, 2009 5:22am May 19, 2009 5:22am
Quoting zapper
looking for a drop to 350 or 375 before continuing upwards...
  • #132,973
  • May 19, 2009 5:26am May 19, 2009 5:26am
Looks as if EURGBP wants to break high .87's...
  • #132,974
  • May 19, 2009 5:34am May 19, 2009 5:34am
Lower than expected building permits... Stocks are going to sell off and pull the pair lower, i`m anticipating...
  • #132,975
  • May 19, 2009 5:43am May 19, 2009 5:43am
Short from 1.55 looking to keep it until 1.48 TP 1.48 ...........when EU/GBP appreciate this will drop enough to survive this crazy move.........long players start saying your prayers loud .......
BANDA333
  • #132,976
  • May 19, 2009 5:53am May 19, 2009 5:53am
umm hello, ii dont know if this is a silly question.. but what is the correlation between the news and the gu pair?US is bad then gbp fall??
  • #132,977
  • May 19, 2009 5:57am May 19, 2009 5:57am
Quoting mloistianto
umm hello, ii dont know if this is a silly question.. but what is the correlation between the news and the gu pair?US is bad then gbp fall??
gbpusd follows the stocks strongly... so, if there`s bad news for the USD, stocks are sold out and hence dragging the pair lower...
  • #132,978
  • May 19, 2009 6:00am May 19, 2009 6:00am
Quoting mloistianto
umm hello, ii dont know if this is a silly question.. but what is the correlation between the news and the gu pair?US is bad then gbp fall??

depends, against which cross?

...though you may be confused with the current strong gbp sentiment..
  • #132,979
  • May 19, 2009 6:06am May 19, 2009 6:06am
hello

1.5440 is support right now if broke it will continue down to 1.5350
  • #132,980
  • May 19, 2009 6:07am May 19, 2009 6:07am
Still very short here guy.....

MK

Quoting Bull_Bear
Funny how trading with the trend and break out is such an easy concept
and yet everyone was shorting in yesterday session.

First TP hit +105pips.... waiting for 2nd TP to hit with +110pips locked in
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