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Cable Update (GBPUSD)

  • #243,481
  • Aug 5, 2010 6:56am Aug 5, 2010 6:56am
Quoting ams

Moreover, look at the daily candle, a perfect picture...

What do we call this in technical terms ???? :-)


ta
ams

If it stays like this it will be a "three outside down". We just need a lower close today for it to be valid, and we can't have a high greater then half the previous body.
  • #243,482
  • Aug 5, 2010 6:56am Aug 5, 2010 6:56am
Quoting malcolmb14
5950 is top of days range .... and channel , likely will hit that and see from there
I think its waiting on USD unemploy news next in 35mins to do that. It also seems likely looking at the previous and forcast that it may either be bad or maybe neutral.
To Your Success!!
  • #243,483
  • Aug 5, 2010 6:57am Aug 5, 2010 6:57am
Quoting ams
I was in heavy on the pound because of news, and I knew nothing is dragging it down before that so thought to cash my dosh. Moreover, market has a tendency to overbuy and oversell instruments and pound is in overbought territory and dollar is in oversold (watching USD/CHF), so things can change quickly.


ta
ams
Yeah.. I hear that, but these have been oversold/bought for a while already. I moved to B/E +2 and will see what happens when I return home. Sterling should hit support at 1.5860, and Euro at 1.3177. So, time to head out for the day and see how this plays out, but I agree there seems to be a stop in the upward momentum so far.

Later....
"Keep your eyes on the helpers" - Mr. Rogers
  • #243,484
  • Aug 5, 2010 6:58am Aug 5, 2010 6:58am
Quoting ams
Exactly Cloggie, it seems trend is about to change for EU soon as USD will gain some strength if NFP comes out positive tomm and a retrace is overdue for both anyways.

Moreover, look at the daily candle, a perfect picture...


ta
ams
US news in 30min can be catalyst.... if comes better than expected .... considering yesterday's positive ADP no..... market might price in good no for tomorrow's NFP
  • #243,485
  • Aug 5, 2010 7:01am Aug 5, 2010 7:01am
Quoting ams
Position closed for EU, GU...easy 100 pips on both..


ta
ams
Good day to you,

Nice one! Very well done.

Keep chipping away

Regards
  • #243,486
  • Aug 5, 2010 7:01am Aug 5, 2010 7:01am
FYI guys, Trichet press conference is at 12:30GMT
  • #243,487
  • Aug 5, 2010 7:16am Aug 5, 2010 7:16am
Quoting Elite_trader
FYI guys, Trichet press conference is at 12:30GMT
1.30 GMT I thought?
  • #243,488
  • Aug 5, 2010 7:19am Aug 5, 2010 7:19am
KABOOM time
Thank You
  • #243,489
  • Aug 5, 2010 7:22am Aug 5, 2010 7:22am
Quoting wormboy
KABOOM time
yes it is

i'm again buy from 1,5895 with 15 pips s/l
  • #243,490
  • Aug 5, 2010 7:22am Aug 5, 2010 7:22am
Quoting OldReigatian
1.30 GMT I thought?

Nope, 1230 GMT.
  • #243,491
  • Aug 5, 2010 7:22am Aug 5, 2010 7:22am
Quoting wormboy
KABOOM time
Absolutely. GU 1.5810 EG .8260
  • #243,492
  • Aug 5, 2010 7:24am Aug 5, 2010 7:24am
bearish will take over the GBP/USD start from today i guess
  • #243,493
  • Aug 5, 2010 7:24am Aug 5, 2010 7:24am
Quoting mouse09
yes it is

i'm again buy from 1,5895 with 15 pips s/l
good luck. I didn't buy
Thank You
  • #243,494
  • Aug 5, 2010 7:25am Aug 5, 2010 7:25am
Quoting OldReigatian
Absolutely. GU 1.5810 EG .8260
Yep maybe will lower tha 1.5810
  • #243,495
  • Aug 5, 2010 7:27am Aug 5, 2010 7:27am
Quoting OldReigatian
Absolutely. GU 1.5810 EG .8260
I have something deeper in mind tho
Thank You
  • #243,496
  • Aug 5, 2010 7:27am Aug 5, 2010 7:27am
Next week will busy weeks since many news impact will show....
  • #243,497
  • Aug 5, 2010 7:33am Aug 5, 2010 7:33am
Quoting master4forex
Next week will busy weeks since many news impact will show....

NFP is about as big as they come shy of unexpected interest rates and war, what makes you think that next week is going to be bigger? It is summer, nothing big until labour day.
  • #243,498
  • Aug 5, 2010 7:34am Aug 5, 2010 7:34am
479Khttp://cdn.forexfactory.com/images/m...ol_refresh.gif 456K

An incredible drop of 23k......emmmmmmmmmmmm I wonder how this will work out!!!!!
  • #243,499
  • Aug 5, 2010 7:35am Aug 5, 2010 7:35am
http://nsa16.casimages.com/img/2010/...3524115073.jpg

other analysis on my blog http://foxtrade-foxtrade.blogspot.com/

  • #243,500
  • Aug 5, 2010 7:37am Aug 5, 2010 7:37am
Quoting AdrianHNV
479Khttp://cdn.forexfactory.com/images/m...ol_refresh.gif 456K

An incredible drop of 23k......emmmmmmmmmmmm I wonder how this will work out!!!!!
disappointing for dollar bulls
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