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Cable Update (GBPUSD)

  • #160,681
  • Aug 25, 2009 12:49pm Aug 25, 2009 12:49pm
Quoting wormboy
paul!

I think cesar has that dancing bear
Well, I think he needs to come in here for a quick boogie!
  • #160,682
  • Aug 25, 2009 12:49pm Aug 25, 2009 12:49pm
Quoting Inzider
Short term view, (ain't talking about december there... hehe) 40 is a major support area on 4h
Will it hold today!

hum hum....
matt .... new low


Thank You
  • #160,683
  • Aug 25, 2009 12:51pm Aug 25, 2009 12:51pm
Quoting wormboy
matt .... new low


Muahhahahaahh!
I wont tell anyone!
  • #160,684
  • Aug 25, 2009 12:52pm Aug 25, 2009 12:52pm
Quoting gammase1
Well, I think he needs to come in here for a quick boogie!
I hollered.
Either cesar brings it later .. or choncy will bring his badass looking one lol.
Thank You
  • #160,685
  • Aug 25, 2009 12:59pm Aug 25, 2009 12:59pm
Quoting Inzider
Muahhahahaahh!
I wont tell anyone!
hahaha.
seriously tho, once that neckline gives way, it'll be large & fast wooohooo
Thank You
  • #160,686
  • Aug 25, 2009 1:03pm Aug 25, 2009 1:03pm
Couple GBP / USD remains under pressure amid worries on the British economy. I think investors are not convinced that the UK central bank knows what to do with inflation fears. Bank of England pays too little attention to inflation-related economic indicators. I think that investors want to see whether the Bank of England to take the country's economy under control. Couple GBP / USD is now trading at 1.6377.
  • #160,687
  • Aug 25, 2009 1:05pm Aug 25, 2009 1:05pm
Quoting wormboy
hahaha.
seriously tho, once that neckline gives way, it'll be large & fast wooohooo
Nah I understand you!
What I mean is that only 3hrs to go on usa session, so I don't know if we'll get enough sellers right now to broke the zone 30/50.

1.6260 seems the ultimate support on 4h. After that its free fall!
Its no doubt that after this thing broken, blood will flow...

Maby not yet... snifff!
London London (music!)
  • #160,688
  • Aug 25, 2009 1:06pm Aug 25, 2009 1:06pm
OK friend I don't dream 1.4000 or 1.5000, another + 25 pips is enough for me for today !

See you tomorrow !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #160,689
  • Aug 25, 2009 1:07pm Aug 25, 2009 1:07pm
Quoting Inzider
Nah I undertsand you!
What I mean is that only 3hrs to go on usa session, so I don't know if we'll get enough sellers right now to broke the zone 30/50.

Its no doubt that after this thing broken, blood will flow...

Maby not yet... snifff!
oh yea, sure enough it won't be today. I'm not counting on that either.
But I'll welcome it if it comes before september lol
Thank You
  • #160,690
  • Aug 25, 2009 1:07pm Aug 25, 2009 1:07pm
Quoting manize
OK friend I don't dream 1.4000 or 1.5000, another + 25 pips is enough for me for today !

See you tomorrow !
see ya manize. have a good one
Thank You
  • #160,691
  • Aug 25, 2009 1:15pm Aug 25, 2009 1:15pm
+ 25 will make me
  • #160,692
  • Aug 25, 2009 1:28pm Aug 25, 2009 1:28pm
"I'm SHORT. Got a problem with that?"
http://www.gawker.com/assets/resourc...04/minime.jpeg

http://i2.photobucket.com/albums/y28.../beardance.gif
  • #160,693
  • Aug 25, 2009 1:38pm Aug 25, 2009 1:38pm
Quoting cesarnc
"I'm SHORT. Got a problem with that?"
wooohooo.
No problemo brother! I am very short myself actually
Thank You
  • #160,694
  • Aug 25, 2009 1:41pm Aug 25, 2009 1:41pm
On the subject of the correlation between stock markets and cable, it seems that positive correlation has now been lost with stocks going up and cable going down

If stock mkts go down, will that inverse correlation stick so that cable goes up, or will it revert to stocks down/cable down

It's interesting how these correlations work for a while and then reverse themselves

Sometimes they move so closely together it's uncanny
  • #160,695
  • Aug 25, 2009 1:50pm Aug 25, 2009 1:50pm
Quoting allserene
On the subject of the correlation between stock markets and cable, it seems that positive correlation has now been lost with stocks going up and cable going down

If stock mkts go down, will that inverse correlation stick so that cable goes up, or will it revert to stocks down/cable down

It's interesting how these correlations work for a while and then reverse themselves

Sometimes they move so closely together it's uncanny
I think we have to ask, what is likely to be supportive of cable if risk aversion spikes up, causing equities to sell off? In this environment, can you see sterling remaining in demand, given the fact it's generally seen by most as being one of the riskier currencies?
  • #160,696
  • Aug 25, 2009 1:57pm Aug 25, 2009 1:57pm
Quoting gammase1
I think we have to ask, what is likely to support cable if risk aversion spikes up, causing equities to sell off? In this environment, can you see sterling remaining in demand, given the fact it's generally seen by most as being one of the riskier currencies?
Hi Paul,

I don't know if you read my question for you yesterday, but just in case here it is again:

Reports say that UK tax revenues have fallen 20% yoy.

I believe this to have bearish implications for the country's currency. However I wanted to get your feedback regarding the degree and duration of the impact of this important piece of news.

regards,
GM
Hear the music before the song is over ...
  • #160,697
  • Aug 25, 2009 2:01pm Aug 25, 2009 2:01pm
Quoting gammase1
I think we have to ask, what is likely to be supportive of cable if risk aversion spikes up, causing equities to sell off? In this environment, can you see sterling remaining in demand, given the fact it's generally seen by most as being one of the riskier currencies?
The massive % of trade between the euro and the gbp is a factor

When people say that the USD is due for a sell off, that must mean the dollar index of which the euro is an important part

If the trade links twixt GBP/euro are so strong. might the euro hold GBP up ?

I don't like to think of GBP in isolation as a dollar sell off could leave GBP where it is now...

Too many imponderables of course which is why people day trade and forget all other factors except immediate price action. Perhaps that's all we can do
  • #160,698
  • Aug 25, 2009 2:07pm Aug 25, 2009 2:07pm
short come on pip's needed
  • #160,699
  • Aug 25, 2009 2:10pm Aug 25, 2009 2:10pm
Feel really awful about my long doing ok

sorry, I know it's not supposed to
  • #160,700
  • Aug 25, 2009 2:13pm Aug 25, 2009 2:13pm
Quoting GlobalMacro
Hi Paul,

I don't know if you read my question for you yesterday, but just in case here it is again:

Reports say that UK tax revenues have fallen 20% yoy.

I believe this to have bearish implications for the country's currency. However I wanted to get your feedback regarding the degree and duration of the impact of this important piece of news.

regards,
GM
Hi GM,

Yes, the figures released on Thursday painted an appalling picture of the fiscal position in the UK. There was expected to be a net borrowing requirement from the public sector of £300m for the month of July (normally a surplus month), whereas the actual number showed a deficit of £8bn.

When you scratch beneath the surface, there was an alarming 38% drop in corporation tax receipts from a year earlier, in addition to a 15% drop in income tax receipts. Against these diminished incomings, was an annual increase of 7.5% in government spending, as the public sector attempts to offset some of the fall in private sector demand.

These data, along with the extension of QE and a likely further £25 billion increase of this scheme in November, are very bearish for sterling on a fundamental level.

Moreover, what is of particular concern for the markets is the credibility of Alastair Darling borrowing targets made in the most recent budget, where he forecast a total of £175 billion for 2009, a figure which many believe will now reach, or even exceed, £200 billion.

It's a good job that the BOE is willing to prop up the gilt market, eh?

Cheers, Paul
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