Cable Update (GBPUSD)

They're at it again

Could that touch of 38.2 be the resumption of the down?

So much for friggin downtrend.

Nikkie ended in positive. Don't know what these boys have in mind despite dow futures down.



last week's gains have seen many of the world's major indexes cement their places above key technical levels, which should leave them well-placed for more gains going forward.

Last week, for example, the Dow Jones industrial average added 2.2 percent to hit a ten-month high while the broader Standard & Poor's 500 index consolidated itself above the 1,000 mark after government figures showed that only 247,000 U.S. jobs were lost in July -- way less than expected -- and the unemployment rate unexpectedly fell to 9.4 percent.

With little economic news due on Monday, investors may well take a breather. Dow futures were down 5 points, or 0.1 percent, at 9,320 while the S&P 500 futures fell 0.8 point, or 0.1 percent, to 1,005.60.

"As the week moves on we will see some more high level economic readings but for now it will be a case of taking stock of what was a pivotal week in the stock market recovery,".

The coming week will likely be dominated by U.S. retail sales data and a raft of earnings from retailers themselves, such as Wal-Mart Stores Inc., JC Penney Corp. and Estee Lauder Co.

Investors are fully aware that without the support of the U.S. consumer, which accounts for around 70 percent of the U.S. economy and 20 percent of the global economy, any recovery will soon fizzle out.

Retail sales in the U.S. should be boosted by the government-sponsored 'cash for clunkers' subsidy to boost auto sales, though the underlying picture will be considerably less upbeat.

Investors are also awaiting the latest monetary policy decision from the U.S. Federal Reserve on Wednesday.

Though no change in interest rates is expected, investors will be looking to see if the Fed sounds a note of cautious optimism in its accompanying statement and whether it has plans to expand its asset-purchasing program now that the funds are running dry.


Means US might do more QE and pound will shoot UP again.

Anyhow, until wednesday seems this sucker will be ranging between 67-65500 before dropping further or going back UP again like it did before dropping from 170....

There is always an element of surprise.

WOW, thats a mouth full...

If she hits 1.6680 I will add to shorts

good piece! it makes perfect sense. if you know you wanna do more QE but at the same time wanna prevent her from reaching a certain level when it shoots back up again, better discount for that event as much as possible....hence the situation she is in right now...

Hi look at this chart.

Attached Image (click to enlarge)

Subprime is contained (somehow) but there is something in for the future and nobody is talking about yet so far.
If you see this chart all is clear why we have this Bull Run and all this euphoria. Because, we are just in the middle between the two read boxes.

The rest I don't need to explain.

Not sure if I ended on the wrong foot BB, again. lol.

By them I meant big boys....

Already carrying shorts, and have one more pending at 66600. Just frustrated as it's not moving and reckon it'll be same scenerio we had before drop from 170 for 2 friggin days.


Don't know why I think it will go to 67500 to test the waters....

Everyone enjoying this fast moving market?...My thoughts for this afternoon:

Apologies ams, thought you giving bit of tongue & cheek to the SHORT fellas.

[quote=ams;2943175]

Means US might do more QE and pound will shoot UP again.


ams,
what does this mean? u mean gu will go up?
pls help. thanks.
F

No worries mate, it's me who need sorting and need to be clear when writing not just the head.

I am good with the flow either ways it moves.

Have few shorts with me from a while, waiting to shrug them. Can't wait for this sucker to drop.

trend down

Still short

DT whats doin bro? You keep this forum alive with your creative flair, not to mention your trading know how too

For free forex signals go to http://www.legofx.blogspot.com. am in +349 pips of GU short since last week, based on the trade call i got from this site. I recommend this site to guys here...

For me personally, any instrument that's up from 10+ weeks, is in an uptrend. Vice versa for downtrend.

That doesn't mean in the short term it can't be down.

Economists had been split on whether the Bank would increase its quantitative easing scheme, completed last week, or pause to gauge what impact it was having. Few had forecast an expansion above the original government-set limit of 150 billion pounds. UK announced QE by adding 25 B more to 150B raising the level to 175B (total 50B from 125), and buying bonds within 3 months. That's a little quick then expected.

Anyhow, this gives leverage to the US govt to ask for more funding and printing of money. Meaning US is not as stable as it looks, more debt and that will boost pound to the upside compare to the dollar.

But we will wait and see for that on wednesday until then no one's buying the pound neither shorting (against yen it's stable). It's play field for the big boys ATM.






[quote=francish;2943209]

Tosser.

Now that's really something.....

Hi bro,

Here's what I see at the moment and am still convinced to keep my shorts until proven by the market otherwise.

Hope you had a good weekend

Like I said creative flair ...... Wormie "CLICK" him for posting the same thing not long ago.