Cable Update (GBPUSD)

Above 5961 cable is a Buy till 7500

this week top should come around 6250

first consolidation 6074

Already long on cable and yooro.....100pip stoploss n will keep buying all dips till i got a serious profit to close

anyone still has gaps in their chart ?
cause mine still has some gaps left to be filled...

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GBP/USD may be heading to 1.66. Strength in the equity markets, a quick turn around in European sentiment from the EURO possibly breaking up to "the fears were completely overblown," and most importantly the market believing that the FED will take more Quantitative easing measures on their meeting on the 10th have contributed to this rapid climb in the GBP/USD. Looking at the Daily and Weekly charts you can see that we have broken back into that range of trading of 1.5850 to 1.67 that occured for 10 months from May 2009 until February of this year. This leads me to believe that we are heading back up to the top of the the range that we experienced of at least 1.66 and possibly 1.70 where I think we will hit stronger resistance. Be careful to watch the FED anouncement this week for clues of whether to stay long this pair or reverse positions. If the FED does not increase or decides to wind down Quantitative easing measure we should see the USD strengthen. However, if there are no signs of exiting the QE measures or there is an increase we should see a continuation of the trend.

Trade.
Call on GBP/USD @ 1.5950 to expire 8/19/2010 at 4EST. Premium payed 113 pips or $1,130.

Target 1.6550-1.66

Alternate spot trade long @ 1.5966.
Target 1.6550
Stop 1.57. Risk:Reward 260pips:644pips

Well, after that NFP and after the fed does its work this week i'd say a 1.65 target is not at all out of reach. However, a solid break of 1.6 would be a great reassuring measure for my longs...

salam all..
i now long GU,EU,AU...
AU,EU looking great..
GU...still float -ve

w'salam mygoldentits

ton of over head supply .... the move up should happen but there are going to be several shake outs along the way . 100 pip may not be enough. Prior shake out moves on gu have been 200 pip

I am taking it session by session thru the overhead resistance areas.

...
can ask one stupid question...
why you stop posting on your own thread?

short

I just got in a long at 1.5964

stop down at 1.5942

Support at around 1.5960 still seems to be holding and like how 1.5950 is a nice round number right between support and my stop

stopped out

Dont be afraid to draw a line or 2 on your charts , do you see anything that may have helped you here or at the very least saved you little money ?

hey Digger I get the white line but not the green

Can't decide if I just want to take the profit on those 25 pips or not.

One of the 1st nights I've really traded this pair. If the Euro shot up this time of the night like this I'd know it was just a quick stop hitting spike
The big moves on it usually don't happen for another 30 minutes+