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Cable Update (GBPUSD)

  • #159,481
  • Aug 20, 2009 3:35am Aug 20, 2009 3:35am
Shorties stay with your plan until 1.6610 is taken out
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #159,482
  • Aug 20, 2009 3:36am Aug 20, 2009 3:36am
Wow, retail sales news got overshadowed by the GDP news

Public Sector Net Borrowing
http://cloud.forexfactory.com/images...etail_star.gif 8.0B
0.3B 13.4B

300 million expected vs 8 billion actual
  • #159,483
  • Aug 20, 2009 3:36am Aug 20, 2009 3:36am
my second day out with real money!
Closed coz i got cold feet...5 pips.. and then it goesssssssssss down!
  • #159,484
  • Aug 20, 2009 3:37am Aug 20, 2009 3:37am
Quoting daffy
Wow, retail sales news got overshadowed by the GDP news

Public Sector Net Borrowing
http://cloud.forexfactory.com/images...etail_star.gif 8.0B
0.3B 13.4B

300 million expected vs 8 billion actual
hi Daffy,

They're absolutely dire figures on the borrowing requirements. July used to be a surplus month.

hi all,

This is why gilts and sterling are coming under pressure right now.
  • #159,485
  • Aug 20, 2009 3:38am Aug 20, 2009 3:38am
I lost connection at 1.6600
didnt make anything

still holding long at 1.6575

crap luck
Lets Soar The Sky
  • #159,486
  • Aug 20, 2009 3:38am Aug 20, 2009 3:38am
Quoting learntowin
Shit

It suddenly shoots up hit my Stoploss and Down ?

what ve just happnned ?
That is exactly how GU, GJ behaves, each and everytime major news is announced. You should be comfortable with at least 75pip SLs @ times like this.
  • #159,487
  • Aug 20, 2009 3:39am Aug 20, 2009 3:39am
Quoting gammase1
hi Daffy,

They're absolutely dire figures on the borrowing requirements. July used to be a surplus month.

hi all,

This is why gilts and sterling are coming under pressure right now.
Do you think the BoE suspected this would be the case and that it was one of the reasons they increased their QE budget last month?
  • #159,488
  • Aug 20, 2009 3:39am Aug 20, 2009 3:39am
Quoting GlobalMacro
Morning All,
I'm still playing the lower side of the congestion zone. Price has made some inroads but not significantly enough to sway in any major reconsideration of my position. As such I'll be running my short position into LDN.
In fact I'm even selling some more around here...now @ 1.6563...
I used the post-news spike to sell more @ 1.6600.

Alright now we're all set...
Attached Image
Hear the music before the song is over ...
  • #159,489
  • Aug 20, 2009 3:40am Aug 20, 2009 3:40am
Quoting $maker
0.4%

Anyone thinks going short is still good?
Yes, I was wiped out last night on my stop during the news: was short, within 1 minute I had 50 pips except for losing it on a spike of seconds.

Not doing it again, still short, and if I had been on the ball would have shorted again at 6600 with a tight stop....
  • #159,490
  • Aug 20, 2009 3:41am Aug 20, 2009 3:41am
Quoting GlobalMacro
I used the post-news spike to sell more @ 1.6600.

Alright now we're all set...
Thats right GM.... Love your work bro
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #159,491
  • Aug 20, 2009 3:42am Aug 20, 2009 3:42am
1 hour bar is interesting
My edge ===> Patience
  • #159,492
  • Aug 20, 2009 3:42am Aug 20, 2009 3:42am
The news are good, but still down?
  • #159,493
  • Aug 20, 2009 3:43am Aug 20, 2009 3:43am
Quoting daffy
Do you think the BoE suspected this would be the case and that's the reason why they increased their QE budget last month?
In a word, yes. I think your analysis is spot on, mate.

The main aim of QE is to keep interest rates low. Data like these puts gilt prices under pressure, which raises associated borrowing costs in the wider economy. Through increasing QE, the BOE will own around 20% of all outstanding gilts, which places a floor under prices and is, effectively, a monetisation of government debt.

Cheers, Paul
  • #159,494
  • Aug 20, 2009 3:43am Aug 20, 2009 3:43am
Friends, we got Unemployment Claims coming out at 8:30 New York Time. Previous numbers came out positive. We are most likely to see positive numbers this time again. I hope it shoots up like a rocket.
  • #159,495
  • Aug 20, 2009 3:44am Aug 20, 2009 3:44am
Quoting okie
The news are good, but still down?
Forget the news for now trade your chart.... 1.6600 is a technical level.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #159,496
  • Aug 20, 2009 3:45am Aug 20, 2009 3:45am
Quoting okie
The news are good, but still down?
im guessing the retail sales arent good enough
and the borrowing is Huge!
  • #159,497
  • Aug 20, 2009 3:47am Aug 20, 2009 3:47am
Quoting gammase1
In a word, yes. I think your analysis is spot on, mate.

The main aim of QE is to keep interest rates low. Data like these puts gilt prices under pressure, which raises associated borrowing costs in the wider economy. Through increasing QE, the BOE will own around 20% of all outstanding gilts, which places a floor under prices and is, effectively, a monetisation of government debt.

Cheers, Paul
Hey gam man, you can be the fundamental adviser
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #159,498
  • Aug 20, 2009 3:47am Aug 20, 2009 3:47am
Quoting okie
The news are good, but still down?
No, the news overall is bad.

But, as BB wisely said, forget the news and trade from your chart.
  • #159,499
  • Aug 20, 2009 3:48am Aug 20, 2009 3:48am
Quoting Bull_Bear
Thats right GM.... Love your work bro
lol...how's it going bro...
true...couldn't turn down a freebie when it's served on a silver platter..
Hear the music before the song is over ...
  • #159,500
  • Aug 20, 2009 3:49am Aug 20, 2009 3:49am
Quoting $maker
im guessing the retail sales arent good enough
and the borrowing is Huge!
The retail sales were close enough to be as expected, 0.3 expected vs 0.4 actual, thus it would have been priced in already. The GDP figures drove this pound beating, but, if the BoE anticipated this, then the SM would probably also have known. If you're the cynical sort, marking up prices early in the day just to beat them down a little later would be wholly consistent behaviour if you believe they knew what the news would be in advance of its release.
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