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Cable Update (GBPUSD)

  • #234,221
  • Jun 28, 2010 5:25am Jun 28, 2010 5:25am
Quoting chankl78
Yup.. Super boring day today.
So did u manage to download what u want from me?
hey bro how are u

yes i did thanks a lot

all are trading the world cup

nice indi enjoy
Attached Image (click to enlarge)
Click to Enlarge Name: h1 cable.gif Size: 38 KB
Attached File(s)
File Type: mq4 market-hours-indicator-market-profiles.mq4   16 KB | 288 downloads
  • #234,222
  • Jun 28, 2010 5:25am Jun 28, 2010 5:25am
Quoting aerogrammer
This range is a minefield!
Just when I'm deep red, she shoots to make me green.

I think I'll take cloggie's advice and stay out... wait for the big guys to take a side.

That's what most of us been saying here all morning, scalp the ranges but for any significant move wait for the break. We still don't have a proper wedge on the 15.
  • #234,223
  • Jun 28, 2010 5:34am Jun 28, 2010 5:34am
Quoting cloggie
lots in the way to the top 5061, 5067 and 5071.

Here you go, another test of #1 and briefly #2 here, scalping opportunity again, eyes on 5048, 5038 and 5030, I keep repeating the same post but that's how you play the range, this is now the 4th time this setup comes into play, one of these times it is going to end though. We are seeing 3 higher lows on the hourly but a bit of a mess on the 30, she is trying to break but no luck yet. So SL above 67 and trail your TP. Of course take the trade based on your setup and risk appetite. Nothing is guaranteed in Fx. The 15 has now had 4 higher areas of resistance in a row.
  • #234,224
  • Jun 28, 2010 5:52am Jun 28, 2010 5:52am
Currently holding above london open price ,having difficulty at the daily open if we do happen to trade above the daily open the green arrow marks a decent tgt , for you traders using cams it should be around your H3 level , , if we lose the london open red x marks a decnt tgt , my money is on the upside , bought the lows so stp is break even waiting to c wht happens, cheers all
Attached Image (click to enlarge)
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  • #234,225
  • Jun 28, 2010 5:54am Jun 28, 2010 5:54am
It is a funny old day, euro keeps falling and sterling keeps holding. Who said earlier that the USDX was key here? Guess what, definite Sterling strength today, something I alluded to for days. If that continues all we need is for fibre to turn and that may give us the break we are waiting for. I got my eye on 2305 for fibre as a possible.
  • #234,226
  • Jun 28, 2010 6:00am Jun 28, 2010 6:00am
Quoting cloggie
Here you go, another test of #1 and briefly #2 here, scalping opportunity again, eyes on 5048, 5038 and 5030.
5048 tested and rejected.
  • #234,227
  • Jun 28, 2010 6:01am Jun 28, 2010 6:01am
Quoting cloggie
It is a funny old day, euro keeps falling and sterling keeps holding. Who said earlier that the USDX was key here? Guess what, definite Sterling strength today, something I alluded to for days. If that continues all we need is for fibre to turn and that may give us the break we are waiting for. I got my eye on 2305 for fibre as a possible.
end of month, end of Q2... closing Books,,

There is talk in the market that a UK clearer needs to buy cable today for dividend payment purposes

cheers
  • #234,228
  • Jun 28, 2010 6:05am Jun 28, 2010 6:05am
Quoting Piters
end of month, end of Q2... closing Books,,

There is talk in the market that a UK clearer needs to buy cable today for dividend payment purposes

cheers

BP's was due this week but that's cancelled, rebalancing is not going to happen till Wednesday around 1500 UK time, as usual. I still do think that we are looking at Sterling strength here. This is just a plain old consolidation after that move on Friday and there is nothing out there to signify Sterling is weakening at this moment. Fibre is just following equities and Sterling is holding her own. The only dividend due today is Kingfisher and Centrica, all the other biggies will again happen this Wednesday and the only biggie then is RBS, with the rest on Thursday.
  • #234,229
  • Jun 28, 2010 6:08am Jun 28, 2010 6:08am
Quoting digger1
Currently holding above london open price ,having difficulty at the daily open if we do happen to trade above the daily open the green arrow marks a decent tgt , for you traders using cams it should be around your H3 level , , if we lose the london open red x marks a decnt tgt , my money is on the upside , bought the lows so stp is break even waiting to c wht happens, cheers all Attachment
hey digg whats going on till now now no cans no tires
  • #234,230
  • Jun 28, 2010 6:11am Jun 28, 2010 6:11am
Quoting kill56
hey digg whats going on till now now no cans no tires
all depends on how you play lol, have been buying the lows and taking a few profits at previous highs , holding just enough for this pop to pay well , hope everyone has a big greenie day
  • #234,231
  • Jun 28, 2010 6:18am Jun 28, 2010 6:18am
Another rejection of 67, they are coming faster and faster, it is building momentum here. Fibre has some good pivot play too, let's see how that holds. I wouldn't play the short scalps now, higher probability in the long ones, just not here right below the resistance though.
  • #234,232
  • Jun 28, 2010 6:21am Jun 28, 2010 6:21am
Quoting digger1
all depends on how you play lol, have been buying the lows and taking a few profits at previous highs , holding just enough for this pop to pay well , hope everyone has a big greenie day
sure trying to fill the can like milking the cow from one ??? it takes time but at the end we have some milk
  • #234,233
  • Jun 28, 2010 6:24am Jun 28, 2010 6:24am
no break no shake enjoy the ride
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  • #234,234
  • Jun 28, 2010 6:27am Jun 28, 2010 6:27am
Sterling rally pauses; investors rethink budget-led gains

* Sterling slips vs dollar, flat vs euro * Pound unable to extend last week's rally * Investors reckon budget-led gains may have been overdone LONDON, June 28 (Reuters) - Sterling slipped against the dollar on Monday, pausing from its recent rally as some investors reckoned that gains made on the back of last week's drastic emergency budget may have gone too far. The pound lingered near a 1-and-1/2-year high hit against the euro last week but struggled to make headway due to uncertainties about how the UK economy would be affected by tax hikes and deep spending cuts announced by the new coalition government. "Euro/sterling seems to have lost momentum and its likely to settle in range," said Adam Cole, global head of currency strategy at RBC. "There's concern that the market reaction to the budget was more optimistic than it should have been." The fragility of the UK economy was underlined by a slowdown in monthly house price rises in England and Wales in June, although the annual rise was the largest since January 2008, according to property data company Hometrack. [ID:nLDE65O0QP] By 0755 GMT, the pound <GBP=D4> had slipped 0.2 percent on the day to $1.5034, not far from the day's low of $1.5020. Having climbed 1.2 percent last week, sterling's rally lost steam on Monday as the UK currency hovered around its 100-day moving average at $1.5036. Some technical analysts said this level would provide resistance to the pound in the near term. The euro <EURGBP=D4> was flat on the day at 82.13 pence, having pulled away from 81.80 pence plumbed last week, its lowest since November 2009. Sterling's rally last week petered out around the 81.70-81.80 pence region, which marks the 50 percent retracement of the euro's trough-to-peak move from early 2007 to late 2008. Some in the market say a definitive breach of this level is needed for sterling to continue its rally. Sterling's rally last week against the euro was largely driven by the market's view that the UK budget, which includes a rise in value-added tax to 20 percent in 2011, would leave Britain in a better fiscal position than the euro zone, where some countries are struggling from debt problems. But some analysts were concerned the budget would thwart the UK's slow economic recovery, which would keep interest rates locked at a record low 0.5 percent for months to come and weigh on sterling. "We maintain our bearish sterling stance on the expectation that recently introduced fiscal austerity measures will likely require the BoE to keep monetary policy accommodative until Q1 next year," UBS analysts said in a note. (
  • #234,235
  • Jun 28, 2010 6:29am Jun 28, 2010 6:29am
going to hit u later in 4hr chart. i wait for it.
GELORE
  • #234,236
  • Jun 28, 2010 6:36am Jun 28, 2010 6:36am
Quoting kill56
no break no shake enjoy the ride
Beautiful charts! i have decided on these 4 the living room (chimney wall) also feature on the library wall along with Cloggie and Hhitch.
All systems of divination, like music itself,work through patterns.
  • #234,237
  • Jun 28, 2010 6:50am Jun 28, 2010 6:50am
Quoting cloggie
Another rejection of 67, they are coming faster and faster, it is building momentum here. Fibre has some good pivot play too, let's see how that holds. I wouldn't play the short scalps now, higher probability in the long ones, just not here right below the resistance though.
kill killed cable
  • #234,238
  • Jun 28, 2010 7:04am Jun 28, 2010 7:04am
Quoting cloggie
It is a funny old day, euro keeps falling and sterling keeps holding. Who said earlier that the USDX was key here? Guess what, definite Sterling strength today, something I alluded to for days. If that continues all we need is for fibre to turn and that may give us the break we are waiting for. I got my eye on 2305 for fibre as a possible.
When you say pound getting stronger and people start buying pounds. It must be bought by selling some other currency. And that other currencies in the majority are either euro or usd. If I simply put it you cannot buy pound with pound. you must sell other currency to buy pounds.
It surely has impact on USDX both ways...

Though If I tend to be corrected please do...
  • #234,239
  • Jun 28, 2010 7:06am Jun 28, 2010 7:06am
Quoting forexlion
kill killed cable
me no way i cant kill it but i will milk the heck of it
  • #234,240
  • Edited 7:34am Jun 28, 2010 7:15am | Edited 7:34am
Quoting newbie_fx
When you say pound getting stronger and people start buying pounds. It must be bought by selling some other currency. And that other currencies in the majority are either euro or usd. If I simply put it you cannot buy pound with pound. you must sell other currency to buy pounds.
It surely has impact on USDX both ways...

Though If I tend to be corrected please do...
There are a lot more currencies in the basket with GBP and yes GBPUSD can happily rise while EURUSD is falling. Don't put all your focus on USDX, that is not giving you the wole picture. EURGBP has been dropping steadily all day, couple that with the drop in EURUSD and you can see why GBPUSD is being kept up, alternatively GBPUSD is being kept up because the EURGBP is falling, irrelevant of the USDX, now look at EC,UC and GC, all three are falling, does this mean that the euro, pound and dollar is weakening or that the CHF is strengthening? All GBP has to do is outperform the euro, and that is pretty easy right now. Right now EG is set to set a new low, GU is still ranging, so EU is a high probility trade.

Now does correlation always work, no; there are times when correlation is inverse, it is up to you to figure out when and why that is happening and plan your trades accordingly. Alternatively wait for the correlation to resume and again you have a high probability trade.

Now look at your currency, that is directly correlated to the price in commodities, but at times it moves inversely. When it does you try to figure out why and trade accordingly waiting for the correlation to resume and that should give you a high probability trade for it to rapidly move back to fully correlated.

EDIT: Right now there is an optimism in the City that I haven't seen in a long time, whether that is justified is an entirely different discussion.
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