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Cable Update (GBPUSD)

  • #167,901
  • Sep 23, 2009 2:34am Sep 23, 2009 2:34am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Cheers Paul, thinking on the same lines (good to have an experts opinion as well!), either ways dollar goes up.

On the contrary, I see weakness in GBP until the next week's MPC meeting. When BOE brings more clarity to the policy it might rise.

Technically, we want to see 1.66 challenged for atleast week for bullish bias. To hell with everything else.

Well let's see.




Quoting gammase1
A big boost for the dollar and would leave sterling even more exposed as the whipping boy, the ugliest sister, the biggest dog, out of the major and minor currencies, in my opinion. Such a statement to withdraw and head for the exits sooner than planned could cause a nasty squeeze on weaker dollar short positions.
  • #167,902
  • Sep 23, 2009 2:34am Sep 23, 2009 2:34am
Why do you think we will see 7-2?

Quoting bbmac
Uk Boe/Mpc minutes due @ 0830am gmt,...9-0 expected but could see 7-2 which might move it a bit.
G/L
Que
  • #167,903
  • Sep 23, 2009 2:36am Sep 23, 2009 2:36am
It is heading North... The Birds are all North bound.
  • #167,904
  • Sep 23, 2009 2:45am Sep 23, 2009 2:45am
Quoting Que
Why do you think we will see 7-2?

I have no idea what it will be, I don't make predictions but in light of King's dovish testimony to the trsy select committee last week and his and one other's vote last time for increase in QE to £200bn, there is a possibility that the vote could be split. Any mention of a cut in rate held for bank deposits could also cause movement.

G/L
ex member
  • #167,905
  • Sep 23, 2009 2:45am Sep 23, 2009 2:45am
as posted elsewhere......

I think cable will be choppy this morning, with loads of Euro news and then the BOE announcement, so I'm in "hit and run" mode for ~20 pips a trade.

First one completed was a sell off the rejection of the 6400 level 10 mins into Frankies Hour.

I'm now long looking for a retrace into the fib zone......the first bounce missed my TP by 2 pips...http://www.forexfactory.com/images/icons/icon9.gif

Edit: buy was off confluence of todays open - dashed gold - and 6350 levels
Attached Thumbnailshttp://cdn.forexfactory.com/attachme...1&d=1253690967
Trading Levels with WRBs
  • #167,906
  • Sep 23, 2009 2:47am Sep 23, 2009 2:47am
Hoping all goes as planned after de news... Goodluck trading.
  • #167,907
  • Sep 23, 2009 2:48am Sep 23, 2009 2:48am
when will BOE news come out
  • #167,908
  • Sep 23, 2009 2:51am Sep 23, 2009 2:51am
this news signal can be tricky, hawkish or dovish. or just lame straight duck!
Trade Like a Robot make money Like a Bank
  • #167,909
  • Sep 23, 2009 2:51am Sep 23, 2009 2:51am
Listening to Frank Sinatra... And Guys it is so cool.
  • #167,910
  • Sep 23, 2009 2:53am Sep 23, 2009 2:53am
Quoting MoreYummy
when will BOE news come out

LOL - FF have a news page - here it is:

http://www.forexfactory.com/calendar.php?
Trading Levels with WRBs
  • #167,911
  • Sep 23, 2009 2:53am Sep 23, 2009 2:53am
Quoting forexlion
fine, i just went long for 1.64330

if my trade does not move the market, nothing else will

you no listen... i said high volume up bars can contain hidden sellers ...

you bought top of market .. nice going , was the easiest short this evening during Asia.

This newbies is a great example of why you wait for a clear break out and then go long on re- test of break out

your saving grace maybe that we may have a based forming here ,

Attached Image (click to enlarge)
Click to Enlarge Name: chart653.png Size: 136 KB
Blogging daily now at www.volume.zone
  • #167,912
  • Sep 23, 2009 2:57am Sep 23, 2009 2:57am
Quoting Islander
LOL - FF have a news page - here it is:

http://www.forexfactory.com/calendar.php?
lol. forgot about it.
  • #167,913
  • Sep 23, 2009 2:59am Sep 23, 2009 2:59am
Quoting malcolmb14
you no listen... i said high volume up bars can contain hidden sellers ...

you bought top of market .. nice going , was the easiest short this evening during Asia.

This newbies is a great example of why you wait for a clear break out and then go long on re- test of break out

your saving grace maybe that we may have a based forming here ,

Attachment
we in a damn triangle
Attached Image (click to enlarge)
Click to Enlarge Name: trade2.gif Size: 29 KB
  • #167,914
  • Sep 23, 2009 3:02am Sep 23, 2009 3:02am
I'm now long looking for a retrace into the fib zone......the first bounce missed my TP by 2 pips...http://www.forexfactory.com/images/icons/icon9.gif

Edit: buy was off confluence of todays open - dashed gold - and 6350 levels

but the second bounce hit my TP.....
Trading Levels with WRBs
  • #167,915
  • Sep 23, 2009 3:03am Sep 23, 2009 3:03am
Quoting nAVIN2007
we in a damn triangle

or channel ...??? today will be the deciding day between BoE and FOMC

Attached Image (click to enlarge)
Click to Enlarge Name: chart654.png Size: 176 KB
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  • #167,916
  • Sep 23, 2009 3:05am Sep 23, 2009 3:05am
Quoting malcolmb14
or channel ...??? today will be the deciding day between BoE and FOMC

Attachment

well there goes my trendline .....lol
  • #167,917
  • Sep 23, 2009 3:10am Sep 23, 2009 3:10am
Quoting GlobalMacro
Yesterday's price closed with a pin...I'm looking for a morning star to develop...
Buy orders triggered O/N on break of 1.6214 ...


P/S: House Bears? How do you like this daily pin?...looks like we're going up, huh?....lol
I'm carrying my longs set Tuesday morning @ 1.6214
Bullish price action continued early this session and traded to a high of 1.6414 yielding +200 pips
Cable's now trading @ 1.6355

Monday's pin bounced off the ascending TL and was confirmed by yesterday's PA forming a complete morning star on the daily.

I will continue to carry the long position.
Attached Image
Hear the music before the song is over ...
  • #167,918
  • Sep 23, 2009 3:13am Sep 23, 2009 3:13am
nice chart there mal.
im strongly convinced the cable is in a downtrend by looking at the weekly and monthly charts.
one thing that concerns me is the dollar index, which is on the verge of breaking the 76 critical support (we can see other pairs like EUR, AUS, NZD have reached new highs), if dollar keeps weakening, the pound can hardly break through 1.6000
any comments?
Quoting malcolmb14
or channel ...??? today will be the deciding day between BoE and FOMC

Attachment
  • #167,919
  • Sep 23, 2009 3:16am Sep 23, 2009 3:16am
Anything can happen-and probably will/the only certainty is uncertainty/the only constant is change

Any bulls feeling the heat going into the event risk @ 0830am gmt?

G/L all.
ex member
  • #167,920
  • Sep 23, 2009 3:17am Sep 23, 2009 3:17am
Quoting pso
nice chart there mal.
im strongly convinced the cable is in a downtrend by looking at the weekly and monthly charts.
one thing that concerns me is the dollar index, which is on the verge of breaking the 76 critical support (we can see other pairs like EUR, AUS, NZD have reached new highs), if dollar keeps weakening, the pound can hardly break through 1.6000
any comments?

yes weakness in the usd only thing keeping gu afloat...

I think until indexes come off we will see a depressed usd ...

so the range may remain 1.6400 to 1.6100 ish
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