Cable Update (GBPUSD)

Here we go, over and out.

http://www.forexfactory.com/showpost...stcount=237174

S&P just warned that uk could lose AAA because of debt! This could change the view again to the downside

errr, you serious? you still wanna wait & see?
good luck mate

So thats what happened...

from where bro...you in it for the long term or just a quickie...?...

lol

Haha, where did I read this morning that we are heading for 1.4300 .

[15:31 GBP/USD: Real Money Shuns Sterling] NEW YORK, July 12 (IFR) - Global
custodians note that heading into the US session real money were heavy sellers
of GBP vs EUR primarily but also selling cable. Price action tells us that it
was Asian and Middle East accounts the aggressors as the heaviest drop was
between Tokyo lunchtime and 10.30AM London time. Since then early US hedge funds
and Noram trade have pulled the Pound higher, London lows by 1.4946 in cable and
EUR/GBP highs by 0.8418 (Reuters 3000Xtra) have succumbed to profit taking and
some bargain hunting. Over the past week real money have been buying EUR/GBP,
the Pound was the third most sold major currency over the past week trailing
only Aussie and Yen.
We"ve basically returned to Friday"s closing levels but cable is off morning
highs as US equity markets have turned lower, Dow -0.28%, NASDAQ -0.35% and the
S&P -0.46%. We topped out at 1.5086 which was a bit of an anemic rally stalling
just above the normal (-1.0/+1.0)Bollinger band channel with a high reading
circa +1.5. The morning"s lows slammed into -2.6 oversold levels and had to
rebound and indicates there is a distinct lack of liquidity as global markets in
the northern hemisphere hit prime vacation time. Our tech boys are short
() with a stop above 1.5125 and given the way we shied away from just
the +2.0 Bolli band it looks pretty safe. The 24-hr SMA (1.5033)should be
monitored closely, we are trading above it presently but are trying to break
back below.
EUR/GBP just took a sharp bounce after fixing demand sopped up supply, last
at 0.8365/70 having recoiled from heavily oversold Bollinger readings by -4.0
and should test at least the SMA itself at 0.8380 before stalling. Our tech boys
are flat and plan to stay that way for now ()
[email protected]

Will not rule it out, but looking at 1.47 first:

http://www.forexfactory.com/showpost...&postcount=170

Next few days will lead the way now that the credit agencies are helping to manipulate direction

cable was trading around 1.5075 when that piece of news was released which is a very significant support broken on friday so it helped exacerbate the bounce off that level

lol i love those cracker nuts the ma's in the retrace the 50ema did hold above it is the holy ema200 no body can even get close to it and now we see the b;;;;;;sh down about 70pips a nice ride in between , now cable is back to where it should be all the way to hell see u there if u can take the heat still the ema200 on h4 is the target i am looking for

from daily fx

S&P affirms UK's AAA rating, though maintains negative outlook

GM welcome back the room needs ppl like u

We will very likely see the same thing happen with GBP as what happened with EUR from dec. 2009 till june 2010. Even, 1.4300 is still under estimated. Cable is long due for a serious correction.

yes, it did helped downside, but i'm no sure it will have enough strength to pull up again. This is quite bearish news, which could take rounds on public speeches and headlines. I'm waiting for a clear brake of 1.500 and then to establish short for first 1.4870

long term ..if it was a quicky i definately be short
just that once im in position i dont like trying to be smart..makes it complicated for me best for me to keep it simple

wormie keep an eye out on fb..i posted a chart of what i seeing..just remeber that neckline bro..

thanks K...how is your trading coming along...

|||Black Swan Event|||

that nice little bear run we just had, still a newbie if there is one thing i am learning it that to many indicators is not good for me, thv system has been my friend, been working nicely for me....D