Cable Update (GBPUSD)

thumps up:

still long steak

SL moved 618

You referring to 61.80 fib level at 1.6685 or 1.6180?

This news may help to boost european currencies against dollar.

Geithner Says Government to Reduce Role in Market

That`s not necesarily a good thing...

There are so many people looking for a job, not paying credits and so on... take away the help too early and we go down again.

We keep seeing people yelling "green/buy" and so on, but all the people i know(and i have relatives in UK and friends in Italy) say their friends are laid off and so on. Buying power is low.... and all we need is a little panic to start a landslide. Big or small.... it depends... we are not out of the woods yet...

Happy trading!

Hi everyone,
how will PPI Input m/m data release may effect the gbp/usd? before release and then what impact can be seen? any comments please?

A few weeks ago I posted a new pitchfork on the daily chart, and it's time for an update as I shorted the top earlier today for a swing trade

Chart on my blog

FXstreet.com (Córdoba) – GPB/USD rose to 1.6686 posting a fresh one-month high. The pair then pulled back to the 1.6650 zone. The next support is located at 1.6585. Cable is rising against the Dollar for the third consecutive day, accumulating an increase of more than 350 pips. Current price at 1.6655/59 is 0.65% above today’s opening price.

The FastBrokers Research Team afirms: “The Halifax number is a bit surprising since Britain’s housing data has been stellar lately. Investors may take more notice if we receive another setback in housing data in the near future. Focus will return to the East tonight with China set to release a flood of economic data including Industrial Production. Therefore, the FX markets should remain volatile over the remainder of the week since the longevity of the growth story in China has been brought into question lately. Since China has been leading the charge of the global economic recovery, any setback in China’s economic data late Thursday PST could place some downward pressure on the Cable. However, since the Cable and EUR/USD experienced technical breakouts on Tuesday, we believe China’s economic data will likely come in ahead of expectations and help fuel the GBP/USD’s rally.”

Against the Euro, the Pound is rising for the first time in the week. EUR/GBP rebounded at 0.8825 and tumbled to 0.8730. The pair is still moving inside a big range with support at 0.8700 and resistance at 0.8840.

sorry steak on the mobile... that was 1.6618.

Out of Long @ 1.6646 +20

On the bench for now... actually of to bed... happy pipp'n all

IMO ..

http://www.forexfactory.com/attachme...1&d=1252617868

not to bother u, in my chart GU is on 1.6654 now, but ur chart said it's on 65xx .. please confirm bout ur 'butterfly' there ..
is it for recent movement as da level has been passed through..

regard..

(^_^)

i think i will buy just above the 61.8 fib level.

if it breaks that level we would see a 300 pip move back to 1.70....buy at 1.6700 and c what happens

ok bro....enjoy....

Anyone else see the bearish divergence on G/U 1HR? =) Time to short

am with u bro, indeed am shooting 2 bet for now, swing trade & long term in selling cable

hope we'd got da pips..

(^_^)

I am with you guys too,

W4 I noticed the possible H&S in your chart earlier, perhaps it is too soon to tell?...

I am short already, regardless.

Not much going on yet tonight.

To the guys across the pond; if you trade for a living, do you stay up to trade NY session? sleep then London? (or maybe a combo of some sort)

' early awaken chicken got more worms than others '

(^_^)

RIGHTO!

Best bet never sleep for BIG pips!!!

Support Resistance Levels : GBPUSD

1,6678 - 1,6711 - 1,675 - 1,68 - 1,6826

1,6640

1,6607 - 1,6535 - 1,6504 - 1,646 - 1,6419

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The simple trade of Forex MACD