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Why is GBPUSD called cable? 76 replies

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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting aykenar
1.55 might be a good short considering UK elections currently look like its headed for a hung parliament.

If it continues like this up and until election time we could a lot of weakness for the Pound.
Not according to the Sunday Times on the BBC News web site -
http://news.bbc.co.uk/1/hi/uk_politi...10/8613798.stm

In addition to the economic figures coming out last week, which were surprisingly good, everything is currently pointing north.

Recent PA shows that this baby could be going a lot higher than 1.55. I have 1.5534 as the next major test, but as Forexlion says we are due a retrace soon, probably bouncing of this long-term resistance line.

Here was my post and chart from yesterday
http://www.forexfactory.com/showthre...73#post3627073

I thought we would not see 1.5534 until later in the week, but here I am sitting at my PC at 6:15am on a Monday morning and blow me, she is nearly already there. I am still looking to buy, but wary of the retrace! Let's see what the Frankie and London boys get up to.
Quoting xPrav
morning guys,

i was holding my shorts from friday @ 5380 and knew it was pretty much a risk, was in green when friday closed and red when monday opened...

any ideas about what we may see later today?

I belive we will atleast cover up the gap first and then the direction will be decided...

your say please...
Gaps can take days, weeks if not months to close. The direction has already been decided my friend. Draw a trendline up from the low on 8th April and you will see that we will not see this close very soon.

If you have trouble finding this trendline, here is an old chart for you -
http://www.forexfactory.com/showthre...26#post3627726
Quoting bbakker
Gaps can take days, weeks if not months to close. The direction has already been decided my friend. Draw a trendline up from the low on 8th April and you will see that we will not see this close very soon.

If you have trouble finding this trendline, here is an old chart for you -
http://www.forexfactory.com/showthre...26#post3627726
you will see RED CANDLES I wouldnt close any shorts thats for sure we are at the top so dont listen to trendlines on 15 min chart that will be broken fast we are in a wave 5 down after completing an ABC Corrective wave.
Quoting Magix
Agreed.

You can already tell this fella is gunna be one of the great ones.

Not taking away from some of the other new up and coming super stars...just agreeing is all.

Thanks Magix.
Quoting Allseeingeye
you will see RED CANDLES I wouldnt close any shorts thats for sure we are at the top so dont listen to trendlines on 15 min chart that will be broken fast we are in a wave 5 down after completing an ABC Corrective wave.
True. Trendlines are there to be broken. Maybe Frankie and London will do so. Do you have a chart that shows your Elliot Wave analysis with fib lines. Thanks.
http://fxdom.ru/uploads/posts/127053...pusd-daily.gif
Quoting bbakker
Thanks Magix.
here it is
Attached Image (click to enlarge)
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Quoting Allseeingeye
here it is
Thank you for that!

So c is (e) around 1.54 and you are now expecting cable to drop back to 1.5 again?
We will probably have a run down now to fill that gap, however, that is not the reason it will run down. Its just time for a little retrace or DTL testing.

Jim
T1 1.5380
t2 1.5242
t3 1.4900
Quoting Allseeingeye
you will see RED CANDLES I wouldnt close any shorts thats for sure we are at the top so dont listen to trendlines on 15 min chart that will be broken fast we are in a wave 5 down after completing an ABC Corrective wave.
Here comes that trendline of mine

So c is (e) around 1.54 and you are now expecting cable to drop back to 1.5 again?
Quoting Nene
We will probably have a run down now to fill that gap, however, that is not the reason it will run down. Its just time for a little retrace or DTL testing.

Jim

absolutely bro..this gonna take off! ..hang tight buddy
damnit work it calling me..trade safe folks
Quoting Nene
T1 1.5380
t2 1.5242
t3 1.4900
Hey there,

I'm watching the tl on m15 and if we break it downward will be short and looking to 5380 first...

I think we will see alot of buying pressure from around there but if we continue, 5300 is my next level...
@pawpaw1000 on Twitter
Hey,
Can anyone post the different opening times for all the different markets?
I'm in the US and ours opens at 16:30
Thanks,
Quoting Boon Doc
Hey,
Can anyone post the different opening times for all the different markets?
I'm in the US and ours opens at 16:30
Thanks,
Google is your friend and will show it in your local TZ too!
Quoting bbakker
Here comes that trendline of mine

So c is (e) around 1.54 and you are now expecting cable to drop back to 1.5 again?
1.4750 should get there that is my wave 5 first target new low

and if you want to talk fundamentals the British economy & Banking are in worst shape then everyone so we will start to see BAD NEWS Coming up for the GBP.
Quoting Boon Doc
Hey,
Can anyone post the different opening times for all the different markets?
I'm in the US and ours opens at 16:30
Thanks,
http://forex.timezoneconverter.com/
Cable 4h looks bearish if it closes as stands currnetly...

Think its called a engulfing candle> Last candles totally engulfs the previous one and closes lower???
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@pawpaw1000 on Twitter
Quoting pawpaw1000
Hey there,

I'm watching the tl on m15 and if we break it downward will be short and looking to 5380 first...

I think we will see alot of buying pressure from around there but if we continue, 5300 is my next level...
yo brother i got in at 462 through a 5 min trigger. at b/e now and gonna try hold to the levels you mentioned.
And a tweezer formation
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