Cable Update (GBPUSD)

bro i am just here my views here not recommendingany trades..
yes i am bearish
i will post my daily trade setups with charts..
just to share my views.
and sorry for late reply i was busy trading as i said before i was short and just clsoed my shorts..

no one know what boe minutes will bring us it may bring us surprize up or down but iam done here wiht gbp today...

lol...BB it's payback time...

thanks will look them up and try to understand abit more

Price remains in a downtrend on 5/15min t/f's per overall price action-peak/valley analysis, with 30min/1hr printing a recent HL/LH/L so a break of their uptrends so mixed/neutral there now with a current downside biais.

Uk data (Boe/Mpc minutes) due at 0830am gmt.

Current average daily pip range 210, y/day 264, today so far: 155

G/L

expecting some short covering soon

I am still holding long from 16480. Volatility is high and price is now approaching the 50% fib (16432) from the rise: 16274-16592

I expect 16432 to hold, if this level fails then 16396 should provide further support.

Should 16396 fail, SL is at risk and I will stand on the sidelines.

Targets remain up to 170 area as posted before.

Price currently at 16450

in which way does the market going to move if the value is equal as the previous ones?

Anything other than unanymity on the Boe/Mpc minutes minutes due in 2mins may cause some knee-jerk £ buying?? say 7-2 or 6-3, 5-4 in particular??

G/L

MAY BE THIS IS THE REASON..

EVERY THING IS UNDER PRESSURE...
ONLY YEN IS THE WINNER..


Japan emerges from recession

1. <LI class=cnnHiliteHeader _extended="true">Story Highlights <LI _extended="true">Japan's economy grows by 3.7 percent on an annualized basis
   <LI _extended="true">First growth in the world's second largest economy in 15 months
2. Ends the nation's worst recession since World War II

August 17, 2009 -- Updated 0340 GMT (1140 HKT)


TOKYO, Japan (CNN) -- Japan has joined the growing number of major economies that are back in black.
http://i2.cdn.turner.com/cnn/2009/BU...er/art.aso.jpg Japan's Prime Minister Taro Aso's $150 billion stimulus helps nation out of recession.


http://i.cdn.turner.com/cnn/.element...er_wire_BL.gif


Japan's economy grew 3.7 percent on an annualized basis from April to June this year, the first time the world's second largest economy has seen positive growth in 15 months.
The announcement of preliminary figures by Japan's Cabinet Office comes after France and Germany surprised economists last week by posting 0.3 percent growth for the second quarter of the year.
The news that Japan has rebounded -- the hardest hit of the major economies because of its reliance on exports -- gives economists cautious optimism that the worst of the global recession is over.
"The economy has seen a bottoming out of global demand, which has pushed out net exports ... especially in high tech industries and basic materials, such as chemical, steel and so on because of Chinese demand," said Hiromichi Shirakawa, chief economist in Japan for Credit Suisse.
Japan's GDP grew just under 1 percent during the three-month period and trade increased 1.6 percent.



The uptick marks the end of the worst recession in Japan since the end of World War II. Japan's GDP fell at a record pace during the January-March quarter, when GDP was 15.4 percent lower than the same time period last year.
The Japanese economy was buoyed by a historic ¥15 trillion ($150 billion) stimulus package in May, which included unemployment benefits, aid to struggling companies, promotion of green industries and a variety of tax breaks.
"There are many times in the past when tax breaks and fiscal stimulus were offered and failed, but this time around, it worked," Shirakawa said.
Economists expect GDP to continue modest growth through the rest of the year, especially with an expected rebound in global auto sales this quarter. But whether the recovery can continue into the new year after the stimulus package runs its course remains a question.
"Japan's economy still is quite sensitive to global demand ... and for consumer demand to grow on a self-sustained basis still seems unlikely," Shirakawa said

Again 1.6400 is the Tolerance level and coincides with 61.8% take of yesterdays move.

We Need a BEAR - DOZER today

Looks like we got it.

DT I got hit -100pips yesterday bro. Don't her take you today mate

bear show wooohooo

i close my short at 1.6470 and it drop to 1.6400 so much fade up buddy

wow
that was some action
went up to 6480 then straight to 6412

nice one


still holding short

CABLE: Market initially reacts to the BOE MPC 6-3 split in the decision to increase QE to stg175bln, taking cable to highs of $1.6495 before realisation that the three dissenters voted for a larger increase to stg200bln. Rate then dropped back, to $1.6410, with rate currently holding toward those lower late react levels. Bids seen placed toward $1.6400. Source-Mni.

Still holding long from 16480...time will tell

1.6495? only 1.6488 on my chart.. am i being ripped by my dealer?

hope this sharp drop initiate another selloff

Alright...shorts developing very nicely...I will continue to carry them...

Anybody trade or trader NZD/USD before? It looks like sometimes they are going same way. If gbp/usd is going down then nzd/usd is going down also.