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Cable Update (GBPUSD)

  • #10,421
  • Apr 16, 2007 12:24am Apr 16, 2007 12:24am
Quoting dd33
Have we reached 1.99?? Cmiiw, but i thought the highest so far is still 1.9893.
The chart have started to move sideways on 1hr chart. I think we will have another swing before testing the 1.99 again? What do u guys think?
It didn't hit 1.99 yet, just 7 pips shy. Went short at high and hoping for negative reports at 430. 1.97's would be nice.
  • #10,422
  • Apr 16, 2007 12:37am Apr 16, 2007 12:37am
I a newbie. isnt the PPI projected to go up and carry the cable up as well?
  • #10,423
  • Apr 16, 2007 1:20am Apr 16, 2007 1:20am
Quoting ashlee_17
I am shorting cable at 1.9875... First target 1.9830
You've been right on your last few trades I've seen. I'm glad I am agreeing with you on this one. What are your other targets after 9830?
  • #10,424
  • Apr 16, 2007 1:34am Apr 16, 2007 1:34am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting forex_trade
I a newbie. isnt the PPI projected to go up and carry the cable up as well?
In theory, yes but that also depends on other side factors like the Yen-carry trades which is very rampant now, traders' reactions etc.
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,425
  • Apr 16, 2007 1:51am Apr 16, 2007 1:51am
Quoting CWH
In theory, yes but that also depends on other side factors like the Yen-carry trades which is very rampant now, traders' reactions etc.

what the yen-carry trade?
i think after the 4:30 it'll head over 9900 even tho it hasn't been there in a while. i'm looking at a 60 min chart. do u agree or is there something i'm missing apart from experience?
  • #10,426
  • Apr 16, 2007 2:00am Apr 16, 2007 2:00am
Very quiet Frankfurt Open and hour, will the London Open bring some activity?

So far the 5 minute trend is still up in cable and GBPJPY and the Euro´s just turned up, so looking as if the 9900 handle will be tested soon.

UK PPI data at 4:30 and US Retail Sales and Empire State Index at 8:30, so plenty of opportunity for some action....http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #10,427
  • Apr 16, 2007 2:04am Apr 16, 2007 2:04am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting forex_trade
what the yen-carry trade?
i think after the 4:30 it'll head over 9900 even tho it hasn't been there in a while. i'm looking at a 60 min chart. do u agree or is there something i'm missing apart from experience?
Didn't you follow all those economic news releases? You should read them more often, if not you can't cope with the latest developments.

I used to think like you too when I first started out but based on my observations, that is NOT ALWAYS the case.. Honestly, I don't really know what would happen @ 4.30.. Just keep a close eye on it later, ok?
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,428
  • Apr 16, 2007 2:51am Apr 16, 2007 2:51am
go DOWN UNTIL 1.960?


Quoting CWH
Didn't you follow all those economic news releases? You should read them more often, if not you can't cope with the latest developments.

I used to think like you too when I first started out but based on my observations, that is NOT ALWAYS the case.. Honestly, I don't really know what would happen @ 4.30.. Just keep a close eye on it later, ok?
  • #10,429
  • Apr 16, 2007 2:55am Apr 16, 2007 2:55am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting PandoraBox
go DOWN UNTIL 1.960?
Hmm, 1.96 is a little bit exaggerated. I bet the lowest intraday point should be 1.97 & above..

What do you reckon?
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #10,430
  • Apr 16, 2007 3:05am Apr 16, 2007 3:05am
good day! I belive that PPI could be any number today, cause of price action right now, anyhow i have no idea what can happen after news, looks so unpredictable
  • #10,431
  • Apr 16, 2007 3:24am Apr 16, 2007 3:24am
this is fog day to be honest
  • #10,432
  • Apr 16, 2007 3:38am Apr 16, 2007 3:38am
Touched the 1.99. Can it break? Only 2 resistance left to the "no man's land". Going long to 2.0? or going short to 1.98? Very difficult to predict.
  • #10,433
  • Apr 16, 2007 3:38am Apr 16, 2007 3:38am
Quoting cesarnc
[GBP/USD] rose from an earlier low of 1.9782 to a 2 1/2 month of 1.9888 as a mixed bag of US data put pressure on the USD.

The tame producer price index also weigh on the USD which has now put the pair on course for the 2.000 handle.

Data release in the UK saw IDS median pay settlements remaining unchanged at 3.5% in the three months to Mar. With the market obsessed with carry trade activities, the GBP/USD could challenged its 14 year high of 1.9916 over coming sessions. Buying orders at 1.9840 by a Swiss name will provide support while selling orders at 1.9915 by tech types will cap the upside this session
thanx for this information brother
  • #10,434
  • Apr 16, 2007 3:40am Apr 16, 2007 3:40am
i shorted, at 900, short term trade, i think corection will take place in here
  • #10,435
  • Apr 16, 2007 3:44am Apr 16, 2007 3:44am
still on long Target 9930
  • #10,436
  • Apr 16, 2007 3:46am Apr 16, 2007 3:46am
I shorted also. Got stopped at 1.9915 in less than 10 minutes. May be i put it too tight.
  • #10,437
  • Apr 16, 2007 3:46am Apr 16, 2007 3:46am
I'm short atm. maybe it's only for a while, but i'll wait for the US report later on
  • #10,438
  • Apr 16, 2007 3:47am Apr 16, 2007 3:47am
short 9896
  • #10,439
  • Apr 16, 2007 3:48am Apr 16, 2007 3:48am
a lot of stops after 920, if it reaches 30, i think cable will go sky high, my stop also at 935
  • #10,440
  • Apr 16, 2007 3:51am Apr 16, 2007 3:51am
Quoting dd33
I shorted also. Got stopped at 1.9915 in less than 10 minutes. May be i put it too tight.
it never did reach .9915 in my chart, only till .9912
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