Cable Update (GBPUSD)

O, Tsar! this is for your love thank you

Bulls are being led by bear to where bears want them to be

Chart:
1. http://www.forexfactory.com/showpost...stcount=200756


Welp, that formation stood & temporarily I will call it a bottom for at least a retracement, so I will hold on to my long positions which I reckon was bought at a very good price. And judging from how everytime cable manage to retrace back to 50% of the fall since 19th of January you'd have to forgive me to think this time it won't be different. I will take my chances.
The 50% from this last drop is priced @5570 level, so let's see how this goes. Good luck

At 20pm GMT it will be 5510, at 23pm gmt it will be 5410

Please, learn to me how I can to know time like you

previous PA on two sundays

all the thanks to all of u in this thead for all the caring sharing and advice i am greatfull for all of u its the best thread in FF we have great ppl with big hearts i love to see more sharing ideas and improve our way of trading difaind the best way to trade short medium and long i am sure we have great traders anlysers in the room lead us to the path we are still learing

all the thank gos to u bro u are the man

Hi wormboy,

That's GREAT !
You describe a Complete and Detailed that I mean.

Any base for GBP to go long??? If no, go short than.

Hi meromar,

20pm GMT it will be 5510 >> US Market Open
23pm GMT it will be 5410 >> LONDON Market Closed

It's CORRECT ??

Got to be prepared to take a LONG stand... Buying till US datas say "No"

thats what i see i mighit be wronge

Hi WormBoy,
Me too see up but still capped by the wedge.
http://www.forexfactory.com/showthre...07#post3483207
this chart is supposing a bottom. the price bounced off 50% fibo @1.5347 confluences 78.6% fibo fan level.
so According to TA we should see an up move.
but as you know Market will do what is right.

Regards.

The Great Wormie, Whatz up? Good analysis... But for me, I wait till Cable hits the Support Line 1.5456. Then I enter LONG.

weekly

god help the queen she mighit be in deep shittt but any thing could happen with this crazy market

sorry the chart

If you enter LONG after Cable hits the Support Line 1.5456, it still counter trend. The risk is higher.

What is the expecting risk/reward ratio?

Fed’s Bernanke to Assure Congress Higher Rates Not Imminent

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By Craig Torres and Jerry Hart


http://www.bloomberg.com/apps/data?p...d=iW3jq55fSxWU

Feb. 20 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke will probably assure Congress that the central bank is mindful of the lack of job growth in the U.S. and an increase in the benchmark interest rate isn’t imminent after the Fed’s decision to raise the cost of direct loans to banks.
The Fed chief will deliver his semi-annual report on the economy and interest rates to House and Senate panels Feb. 24- 25. Fed officials last month forecast growth of 2.8 percent to 3.5 percent this year, and minutes of their January meeting showed they are seeking more evidence the recovery is sustainable.
New York Fed President William Dudley indicated yesterday that policy makers need to focus now on maintaining growth rather than fighting inflation, citing a smaller-than-forecast increase in the consumer-price index for January reported by the Labor Department. Another measure of prices, which excludes energy and food, dropped for the first time since 1982.
“Monetary policy is about the economy,” Dudley, a voting member of the rate-setting Federal Open Market Committee, told reporters after a speech in San Juan, Puerto Rico. “We need to see solid growth and job creation.”
Consumer prices rose 0.2 percent in January from December, and so-called core prices unexpectedly fell 0.1 percent. The report “showed there’s no inflation pressure,” Dudley said. “So our focus needs to be on growth and jobs.”
The Fed on Feb. 18 said its decision to increase the discount rate by a quarter-point to 0.75 percent represented a “normalization” of lending rather than a change in policy. Officials also repeated that economic conditions warrant low levels in the federal funds rate “for an extended period.”
That’s a phrase Bernanke is likely to repeat to lawmakers next week, said Ethan Harris, head of economics for North America at Bank of America Merrill Lynch.
‘Real Healing’
“He is going to say it over and over again,” Harris said. “Fed tightening doesn’t happen until there is real healing in the job market, and the job market hasn’t even turned positive.”
U.S. stocks erased losses yesterday after the consumer- price report eased concern that the Fed will need to raise its benchmark rate to fight inflation.
The Standard & Poor’s 500 Index rose 0.2 percent to close at 1,109.17 in New York after earlier declining as much as 0.5 percent. The Dow Jones Industrial Average rose 0.1 percent to 10,402.35.
“The Fed is aware of the risk of higher inflation,” said Dan Greenhaus, chief economic strategist at Miller Tabak & Co. LLC in New York. “But that concern is counter-balanced by the belief that the unemployment rate is likely to stay high for 2010.”
Exaggerated Expectations
Fed Bank of St. Louis President James Bullard said expectations for a rate increase were exaggerated.
“The idea that’s in markets that there’s a high probability that we’ll raise rates later this year is overblown,” Bullard said in response to audience questions after a speech in Memphis, Tennessee Feb. 18. “There’s also some probability, maybe more, that this will extend into 2011.”
Atlanta Fed President Dennis Lockhart told a Georgia business audience the same day that policy “remains accommodative.” Fed Governor Elizabeth Duke, speaking in Norfolk, Virginia, said the steps “do not signal any change in the outlook for monetary policy.”
In a press release accompanying the discount rate increase, the 56-year-old Fed chairman and his colleagues at the Board of Governors took care to say the outlook for monetary policy “remains about as it was” when the FOMC met in January.
‘Downside Risks’
Minutes of the January meeting reflect Dudley’s comments that the world’s largest economy, while improving, still faces “some significant downside risks.”
Business contacts expressed “great reluctance to build inventories, increase payrolls, and expand capacity,” the minutes said. Officials forecast average unemployment of 9.5 percent to 9.7 percent in the final three months of the year, little improvement from the current 9.7 percent rate.
Dudley repeated that increasing the discount rate is the central bank’s last step in ending emergency liquidity for markets and not a signal the Fed is prepared to tighten credit.
“Think of this as the last adjustment tied to the end of all the liquidity facilities,” Dudley told reporters. “Think of this as the last piece of that package, rather than the first piece of a new package.”
Emergency Facilities
U.S. central bankers closed four emergency lending facilities this month and are preparing to reverse or neutralize the more than $1 trillion in excess bank reserves they have pumped into the banking system. The discount-rate increase will encourage banks to borrow in private markets rather than from the Fed, the statement said.
Before August 2007, the discount rate was set at one percentage point above the federal funds rate. As subprime mortgage defaults began to ripple through the financial system in August 2007, the Fed reduced the spread to half a percentage point.
The Fed has kept the benchmark rate for overnight lending between banks in a range of zero to 0.25 percent since December 2008. Dudley said the Fed won’t necessarily restore the original spread between the discount rate and the federal funds rate.
“We don’t have a clear goal that 50 or 100 basis points will be the final resting place,” he said. “We felt 25 points wasn’t appropriate once we got to a situation where bank liquidity had returned and banks could borrow from each other more easily.”
To contact the reporters on this story: Craig Torres in Washington at [email protected]; Jerry Hart in Miami at [email protected]
Last Updated: February 20, 2010 00:00 EST


>>http://www.bloomberg.com/apps/news?p...d=aeFQObrHClA4

Hi tsar thank you. Just sharing what I see. Good luck to you