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Cable Update (GBPUSD)

  • #10,901
  • Apr 20, 2007 3:35am Apr 20, 2007 3:35am
Quoting el_duende
yikes 0.3% good for the dollar!
mm0.3 vs 0.5 estimated.....nice excuse for a good spike down to take out a load of stops....then on up again????
Trading Levels with WRBs
  • #10,902
  • Apr 20, 2007 3:35am Apr 20, 2007 3:35am
Quoting el_duende
yikes 0.3% good for the dollar!
should be
  • #10,903
  • Apr 20, 2007 3:36am Apr 20, 2007 3:36am
wow.... surprising it was, but in the wrong way.... It's easy to figure out a given day is a Friday....

But the reaction is very strange.... This pattern usualy means big moneys in the sidelines with their on agenda.... I'm waiting for confirmation to enter, but it feels it will go up, good news, bad news, good Friday, bad Friday

On the way down, I'm out...
  • #10,904
  • Apr 20, 2007 3:38am Apr 20, 2007 3:38am
Quoting cesarnc
wow.... surprising it was, but in the wrong way.... It's easy to figure out a given day is a Friday....

But the reaction is very strange.... This pattern usualy means big money in the sidelines with their on agenda.... I'm waiting for confirmation to enter, but it feels it will go up, good news, bad news, good Friday, bad Friday

On the way down, I'm out...
Aaahhhhh you're just a sucker for a strong trend.....lol
  • #10,905
  • Apr 20, 2007 3:38am Apr 20, 2007 3:38am
Strong bulls preventing a decent move on 0.3%. Getting frustrated with these bulls preventing the retracement we need
  • #10,906
  • Apr 20, 2007 3:40am Apr 20, 2007 3:40am
Quote
mm0.3 vs 0.5 estimated.....nice excuse for a good spike down to take out a load of stops....then on up again????

Took my stops thats for sure! I think South may be the direction to go now. However my predictions the last 2 days have been disasterous.

The first 3 days this week the money I made I have just lost today and yesterday! I love trading sometimes
  • #10,907
  • Apr 20, 2007 3:41am Apr 20, 2007 3:41am
some shorting here.till the market pressure gives move indication. .allso euro is in tricky spot and selling eur might reflect allso gbp.

stay tuned!
  • #10,908
  • Apr 20, 2007 3:41am Apr 20, 2007 3:41am
ooww....what happend to 1.0 rumors?

Hey Forexmaster,

thx. but let the traders decide what they should do, you almost sound like you have vested interests here.

regards
jest
  • #10,909
  • Apr 20, 2007 3:42am Apr 20, 2007 3:42am
UK retail sales: food sales up 0.2%, non-food sales up 0.8%, clothing & footwear up +0.9%


WTH does that mean :O
  • #10,910
  • Apr 20, 2007 3:45am Apr 20, 2007 3:45am
The data was mixed Lower Retail but previous was revised up.

However, does the current number encourages MPC to hold rates?

Interesting.. It broked down to 1.9987 but was immediately bought back up!
  • #10,911
  • Apr 20, 2007 3:46am Apr 20, 2007 3:46am
In the way to 9930 where the bulls will come again....
  • #10,912
  • Apr 20, 2007 3:51am Apr 20, 2007 3:51am
Can it break the 2.0 support? Or its just gonna back to swimming in the channel again?
  • #10,913
  • Apr 20, 2007 3:52am Apr 20, 2007 3:52am
jailumar I agree just didnt think it would be so soon today.

Lesson to self 1) Dont convince oneself an economic report will be better than expected due to rumours and previous high CPI and average earnings reports for UK ETC. You may go down in flames.
  • #10,914
  • Apr 20, 2007 3:53am Apr 20, 2007 3:53am
Quoting BurgerKing
The data was mixed Lower Retail but previous was revised up.

However, does the current number encourages MPC to hold rates?

Interesting.. It broked down to 1.9987 but was immediately bought back up!
YES, just noticed the revision... Previous 1.4% was already strong and now it's up to 1.6%. This may be causing the silly moves...

Still in the sidelines here....
  • #10,915
  • Apr 20, 2007 3:54am Apr 20, 2007 3:54am
Quoting dd33
Can it break the 2.0 support? Or its just gonna back to swimming in the channel again?
Spiked below it and I had a thought in my head to long from sub 2.0 levels but that was before the weak UK data. Now that dip could be a signal of going lower. So many questions and no answers.
  • #10,916
  • Apr 20, 2007 3:55am Apr 20, 2007 3:55am
Quoting okfx
Islander, what exactly is the 200 EMA band at the top of your chart?
Thanks...
I´ve got bands at +/- 35; 70 & 105 ---levels at which price often reacts.....go back a few week and look and decide for yourself.

Also good on 1m at news times....nice sell off the 200 and exited on the long tail down to 9994 http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #10,917
  • Apr 20, 2007 3:57am Apr 20, 2007 3:57am
Quoting Pipsta
Spiked below it and I had a thought in my head to long from sub 2.0 levels but that was before the weak UK data. Now that dip could be a signal of going lower. So many questions and no answers.
if price goes up to 2020 safely go long
Pips till you drop ........... !!
  • #10,918
  • Apr 20, 2007 3:58am Apr 20, 2007 3:58am
Well how about these figures from our live news commentary, are we seeing some bulls at the start of U.S. trading today:

UK retail sales: food sales up 0.2%, non-food sales up 0.8%, clothing & footwear up +0.9%

  • #10,919
  • Apr 20, 2007 4:00am Apr 20, 2007 4:00am
top of channel that had provided resistance in the past, now offering support at the moment
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 60m1.jpg Size: 67 KB
  • #10,920
  • Apr 20, 2007 4:07am Apr 20, 2007 4:07am
Quoting Pipsta
Me too......I guess we're losers....
Not yet - I'm still open and back to a small profit.
Do not focus on making money; focus on protecting what you have.
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