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Cable Update (GBPUSD)

  • #256,581
  • Sep 28, 2010 8:16am Sep 28, 2010 8:16am
Forex traders everywhere seem to be sitting and waiting for the next shoe to drop in the saga that has pushed the value of the U.S. Dollar Index down to seven-month lows and has allowed the EUR/USD to climb back up to resistance at 1.3500. If economic news continues to be disappointing, that will bolster the case for the Fed to increase its quantitative easing -- which would, in turn, devalue the U.S. dollar.
  • #256,582
  • Sep 28, 2010 8:17am Sep 28, 2010 8:17am
last train for today.. ANybody??
  • #256,583
  • Sep 28, 2010 8:18am Sep 28, 2010 8:18am
Quoting gammase1
Exert from Posen's speech:

"In fact, absent further monetary stimulus, I would expect U.K. inflation to
fall well short of the target in 2012 and 2013, perhaps reinforcing a
persistently low-growth outcome as in Japan in the 1990s."

He sure did put the boot in, sideways.
  • #256,584
  • Sep 28, 2010 8:18am Sep 28, 2010 8:18am
Quoting master4forex
Forex traders everywhere seem to be sitting and waiting for the next shoe to drop in the saga that has pushed the value of the U.S. Dollar Index down to seven-month lows and has allowed the EUR/USD to climb back up to resistance at 1.3500. If economic news continues to be disappointing, that will bolster the case for the Fed to increase its quantitative easing -- which would, in turn, devalue the U.S. dollar.

Can't think for yourself and running out of silly cartoons?

Enjoy talking to Iggy.
  • #256,585
  • Sep 28, 2010 8:21am Sep 28, 2010 8:21am
Technical analysts at MIG bank claim that British pound is moving firmly upwards versus the greenback forming the second in a row bullish weekly “thrust” pattern.

The recent minimum at 1.5297 is regarded by the specialists as the end of the correction of the 1.4230/1.5997 bullish swing, with support in 1.5511/1.5675 area.

Bank analysts believe that if the pair GBP/USD manages to overcome swing’s maximum at 1.5997, it will be able to rise to 1.6458, while the key resistance will be found at 1.6878/1.7043 levels (August/November 2009 maximums).

If sterling drops below1.5511 would, it would mean that the pair’s advance from 1.5297 was corrective, increasing the risk of eventual breakdown through 1.5297 for 1.4948/1.5000 (outside week support/psychological) and 1.4781.
  • #256,586
  • Sep 28, 2010 8:22am Sep 28, 2010 8:22am
Quoting MisterTrader
EUR and GBP to fall like a rock.
BOE Posen saying further monetary easing may be necessary

More QE should be undertaken in UK - Cable immediately drops

If we need more evidence that the world´s G7 economies are in a state of a "currency war" - no need for further proof. Everybody is trying to devalue its currency and "export" its economy into some sort of "growth"...
________________________________ Errare humanum est
  • #256,587
  • Sep 28, 2010 8:23am Sep 28, 2010 8:23am
Thinking sterling will drops below 1.5511 , it would mean that the pair’s advance from 1.5297 was corrective, increasing the risk of eventual breakdown through 1.5297 for 1.4948/1.5000 (outside week support/psychological) and 1.4781.
  • #256,588
  • Sep 28, 2010 8:23am Sep 28, 2010 8:23am
Quoting cloggie
Can't think for yourself and running out of silly cartoons?

Enjoy talking to Iggy.

Just to thank u that ur post are really illuminating to me..

Bye the way wats ur take on this new Posen comment.

i feel its opportunity to buy.

ur comments please
  • #256,589
  • Sep 28, 2010 8:23am Sep 28, 2010 8:23am
Quoting cloggie
Read my post again, I never said that. I explained why the price went up this morning, but I guess you missed that.
I looked through the thread, can't find where you explained the price movement?
Our beliefs are based on logic and the pursuit of clearity.
  • #256,590
  • Sep 28, 2010 8:24am Sep 28, 2010 8:24am
Quoting master4forex
Thinking sterling will drops below 1.5511 , it would mean that the pair’s advance from 1.5297 was corrective, increasing the risk of eventual breakdown through 1.5297 for 1.4948/1.5000 (outside week support/psychological) and 1.4781.
are you gone mad?please stop posting rubbish

Ub
  • #256,591
  • Sep 28, 2010 8:24am Sep 28, 2010 8:24am
http://2.bp.blogspot.com/_CyEKtSOAHA...+censored4.JPG
  • #256,592
  • Sep 28, 2010 8:25am Sep 28, 2010 8:25am
with fundi coming out like u said (boot up Sideways) have long 5795 any thoughts sl 15730 reason strong support and previous high frm sep 23




Quoting cloggie
He sure did put the boot in, sideways.
We cannot direct the winds but we can adjust our sail.
  • #256,593
  • Sep 28, 2010 8:28am Sep 28, 2010 8:28am
Quoting nishantforex
Just to thank u that ur post are really illuminating to me..

Bye the way wats ur take on this new Posen comment.

i feel its opportunity to buy.

ur comments please

When a Central Banker publicly states that the UK is destined to become the Japan of the noughties, I am not going to buy this one just yet. Let it all settle down first. This is a major about turn in BOE thinking.

This changes the fundamental landscape in one great sweep.

The market in general needs to absorb what he said and what the meaning behind it was. If it is the consensus of the BOE then Cable is destined for parity. Now do I see that happening, of course not, however this is just about the biggest fundamental news this year from the BOE bar QE.

Posen, with one sentence may well have negated the bull rally established back in May. All eyes on further announcements from the BOE.
  • #256,594
  • Sep 28, 2010 8:29am Sep 28, 2010 8:29am
to much buy.. for long... time for cabel do correction.. give some bearish spike
  • #256,595
  • Sep 28, 2010 8:33am Sep 28, 2010 8:33am
i try a small first buy at 1.5745, sl 1.5705, could be wrong
  • #256,596
  • Sep 28, 2010 8:34am Sep 28, 2010 8:34am
http://bigpicture.typepad.com/commen...sh_outlook.gif
  • #256,597
  • Sep 28, 2010 8:34am Sep 28, 2010 8:34am
Hey guys, I don't understand, what happen?
Are there bad news for GBP ? ...or only a correction? I see avery BIG move!

Thank you
  • #256,598
  • Sep 28, 2010 8:34am Sep 28, 2010 8:34am
Quoting dag777
i try a small first buy at 1.5745, sl 1.5705, could be wrong

Don't do it, the market is in panic mode.
  • #256,599
  • Sep 28, 2010 8:35am Sep 28, 2010 8:35am
Quoting dptrader
Hey guys, I don't understand, what happen?
Are there bad news for GBP ? ...or only a correction? I see avery BIG move!

Thank you

We've only been talking about it for 3 pages or so, go find the back button.
  • #256,600
  • Sep 28, 2010 8:35am Sep 28, 2010 8:35am
Quoting cloggie
When a Central Banker publicly states that the UK is destined to become the Japan of the noughties, I am not going to buy this one just yet. Let it all settle down first. This is a major about turn in BOE thinking.

This changes the fundamental landscape in one great sweep.

The market in general needs to absorb what he said and what the meaning behind it was. If it is the consensus of the BOE then Cable is destined for parity. Now do I see that happening, of course not, however this is just about the biggest fundamental news this year from the...
Got to disagree with the first bit, as I stated last week though the world chose to ignore it, BoE staement specifically mentioned option of further QE for the UK.
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