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Cable Update (GBPUSD)

  • #10,541
  • Apr 17, 2007 5:33am Apr 17, 2007 5:33am
Quoting BurgerKing
Whats the historic High for GBPUSD and at what dates?
IFR: London, April 17. Cable has erased more exotic option barriers--at 2.0010 and 2.0025, on its latest upleg to fresh 15-year highs just shy of 2.0035. Further exotic exposure is tipped at 2.0050, 2.0100 (Sep 1992 high), 2.0150 and 2.0200. 2.0000 is now a pullback support point. Sub-figure props include 1.9967, 1.9940 (yesterday"s high) and 1.9917.
  • #10,542
  • Apr 17, 2007 5:35am Apr 17, 2007 5:35am
1992 09.08 2.0110
  • #10,543
  • Apr 17, 2007 5:39am Apr 17, 2007 5:39am
And a monthly chart
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  • #10,544
  • Apr 17, 2007 5:39am Apr 17, 2007 5:39am
Quoting theroller
If it goes down to 1.94 again, GBP/USD would definitely see 2.00 very quickly. remember, 1.94 got rejected at least 3-4 times.

GBP/USD should target for 1.97+
dated 2/22

fundamentals
  • #10,545
  • Apr 17, 2007 5:40am Apr 17, 2007 5:40am
Hey guys, just to go back over that price spike earlier.. I think the market makers do it to just clear out stops and annoy the hell out of traders.

Well, I finally managed to get one up.. for the first time.

I was getting ready to short at 2.0030, with my finger on the sell button, the price spiked up to 65, when I pressed it by accident.. it them immediately went down to 2.0030 again..

My very first instant 30+ pips from a trading platform.

Thanks CMC..

LOL..

It only happens once in your life, im sure.!!
  • #10,546
  • Apr 17, 2007 5:41am Apr 17, 2007 5:41am
Quoting theroller
Basically, how I see all these signs:

1) Yes, EU trying to take EUR and GBP lower.
2) Yes, USD has an edge (5.25 vs 3.5)
3) BUT, EU and GBP is destined to hike rates more rapidly than US
4) Remember, 5.25 vs 3.5 is ALREDY in prices
5) Markets move according to FUTURE assessments/expectations
6) Interest in USD is decreasing.
7) TIC was a shocker
8) A wave of Commodity craziness is set to come; and it often initially causes sharp USD selloff.
9) USD might even make a new low during spring, similar move to last year's.
10) EUR/USD found a huge base around 1.29/1.30
11) GBP/USD found a huge base around 1.92/1.93
12) Hence, USD selloff odds are higher
2/22
  • #10,547
  • Apr 17, 2007 5:43am Apr 17, 2007 5:43am
Thats why I hate SLs
  • #10,548
  • Apr 17, 2007 5:45am Apr 17, 2007 5:45am
Quoting patricio0793
Hey guys, just to go back over that price spike earlier.. I think the market makers do it to just clear out stops and annoy the hell out of traders.

Well, I finally managed to get one up.. for the first time.

I was getting ready to short at 2.0030, with my finger on the sell button, the price spiked up to 65, when I pressed it by accident.. it them immediately went down to 2.0030 again..

My very first instant 30+ pips from a trading platform.

Thanks CMC..

LOL..


It only happens once in your life, im sure.!!
Take the money and run! Good job!
  • #10,549
  • Apr 17, 2007 5:50am Apr 17, 2007 5:50am
Not to show too much of my noobishness, but that was my first spike, and it was awesome! I made money on the way up because i had gone long yesterday, then I closed at +111 pips, and made a little money on a short scalp once it started falling!

Made up all my week's losses in 10 minutes, and now I don't feel bad about my long term trades that are still in the negatives...
Do you think the karate kid knows kung-fu?
  • #10,550
  • Apr 17, 2007 5:52am Apr 17, 2007 5:52am
Hope you guys are doing fine there...

On my side, I made a killing since 98s and the target of 2.0 scenario came out to be the right one, despite the bears and their techis.

Bought all dips that appeared in the way and today no profit was taken below 60 pips.

I still have 1 lot long left for the run, SL lifted to 9980, mental TP 0040. I want to see today's close to rebuild my scenarios. Don't want to call for fresh longs or corrections until we are sure about the top and the retracement.

I'll be popping in here once and a while, until this FF problem gets solved....

For those that joined the run up, cheers.... We got there.
  • #10,551
  • Apr 17, 2007 6:00am Apr 17, 2007 6:00am
Quoting BurgerKing
Whats the historic High for GBPUSD and at what dates?
I have the ATH as 2.4545 in November 1980, then 2.0100 in Sept ´92
Trading Levels with WRBs
  • #10,552
  • Apr 17, 2007 6:13am Apr 17, 2007 6:13am
below 2.000
  • #10,553
  • Apr 17, 2007 7:10am Apr 17, 2007 7:10am
I'm running short term fib retracement low 9902, high 0032 (so far) as baseline for retracement.

Below 23%/38% we will have a mark well established as important resistance.

All expected resistances above 9920 were traded as non-existent today, even the 2.0 psychological mark.

My long ter fib is 9211 / 0032. below 23% and we will consolidate possibly between 38% and 50%.

0030 as we speak now...
  • #10,554
  • Apr 17, 2007 7:45am Apr 17, 2007 7:45am
Tp 0050 for 125pips, all out of GU for the day... Want this daily close first.
  • #10,555
  • Apr 17, 2007 7:46am Apr 17, 2007 7:46am
Nothing is holding her back now that US data are out.
  • #10,556
  • Apr 17, 2007 7:47am Apr 17, 2007 7:47am
I never imagined to post something like this here... But 2.0000 is now expected SUPPORT

  • #10,557
  • Apr 17, 2007 7:51am Apr 17, 2007 7:51am
what a day
think I'm getting 136 on the euro too

now if only i can pick the right price to go short on, it will be even better.
  • #10,558
  • Apr 17, 2007 7:54am Apr 17, 2007 7:54am
By now it is clear based on good UK CPI and bad US CPI, GBPUSD can go up to 2.0100 easily.

May happen today, may happen tommorrow, but perhaps may happen before UK rate decision.
  • #10,559
  • Apr 17, 2007 7:59am Apr 17, 2007 7:59am
As noted during November '06, GBP/USD is lifted into a channel of 1.92/2.02 during the USD selloff in November/December.


GBP/USD should see pressure going into 2.02/03, and the lower side of the channel, around 1.94 should be seen again.

Only point to watch would be USD index; a drop below 80 will trigger massive USD selloff. Otherwise, former scenario should be in play.

2 cents.


Quoting cesarnc
I never imagined to post something like this here... But 2.0000 is now expected SUPPORT

  • #10,560
  • Apr 17, 2007 8:01am Apr 17, 2007 8:01am
Quoting theroller
2/22
Hi theroller, with respect to point8, what commodity craziness are you referring to and when will it occur, which commodities?!
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