Cable Update (GBPUSD)

here comes 1.5900???

Because the FX world is afloat with people who don't practice what they preach.

Me.

I am short - the UK news should bring this down - if not I will have to reverse - anyway I am a newbie practising on a demo account!!

What About This Plan !?

By the way all of here are going for 1.60 and above, I would say very brave having in mind this upmove to me is complete manipulation, there is no sign of bears so far. I don't know how bad news can drive the country's currency up if not manipulated, of course this is my view an' thought.

lol nailed it.
The next time anyone decides to pin their failures to indicators don't work or stop hunts, I will ROFL.
No wait, I've done that already

Outta here. Crunch time. Good luck to everyone

Godspeed.

Wormie, BUY, SELL, BUY, BUY, SELL.

What you think bro?

UK CPI y/y BUY 3.9% SELL 3.3% GBP/USD
We'll be focusing on the CPI release out of UK today using a
surprise factor (or deviation) of 0.3%. If the yearly Inflation
number increases to a surprise of 3.9%, which is way over BOE's
inflation target, we will BUY of GBP/USD. If the Inflation number
decreases to 3.3% or less, we'll look to SELL GBP/USD.
Historically, even with a small difference of 0.1%, market tend to
overreac. If our deviation is hit, there is a probability of over
80% that the market will move 50 pips within the next 30 minutes.
As it is the rule when CPI rises above 3.0% an automatic inflation
letter is trigger from BOE Governor King to the Exchequer Darling
explaining why inflation is above 3.0%. Therefore, if we do get a
4.0% or above CPI release, expect GBP to turn bullish significantly
as this inflation letter will send a message that MPC may be
looking at possible rate hikes to curb inflation. However, the last
quarterly BOE Inflation report did mention a stronger than expected
first quarter inflation in UK, therefore the market may have priced
in this release ahead and we may see a typical "buy on rumor and
sell on news" type of market reaction... Unless the release really
surprises the market to buy GBP, 80% of the time we could see a
strong sell off even if the release is inline or slightly better.

SHORT CLOSED AT B.E

Me too on live account with tp at 1.5670.

Q,

Been building long as low as 5597 brother.
1. http://www.forexfactory.com/showpost...postcount=4742

All positions tucked in safe atm. Good luck to us!

I only asked your justification on the trade you took since you attached your chart. I didn't ask you to close your position if that's what you meant by posting your reply.

MILK MONEY TM

lol got that right bro!

I have found this bullish pattern with buy at 6520 and target at 6580

Done

Just Have Changed It To 1.5570 !

Need a penetration of the TL at 5678 if we close below my short are good then if not then I struggle again!