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Cable Update (GBPUSD)

  • #274,801
  • Edited 5:48pm Mar 26, 2011 5:00pm | Edited 5:48pm
Quoting _BBKing_
i noticed an interesting thing
both euro usd n gbp usd are near a strong weekly trendline
euro usd is a bit lower while gbp (stronger than euro) is very near.

yesterday night with a friend we were looking at both charts and we said "looks like gbp is waitin for euro to go near same resistance trendline then both brake up!"

well... we'll see soon!
You pointed me to this chart and I noticed an interesting thing as well ... EURGBP been in a falling wedge pattern since beginning of 2009 , and has , in the last 2 weeks broken to the upside , with the real body of last weeks candle completely above the top line of the wedge - looks to be targeting a bullish channel top/PA resistance at 9150 (last year's high) with 8950 to get through first (last October high)

This could well be due to traders speculating that rate rises will happen sooner on Euro than on GBP

I would have to say though , it looks as though it's Euro which has been gaining strength over GBP since last July , after testing support at the beginning of this year
Attached Image (click to enlarge)
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  • #274,802
  • Mar 26, 2011 7:16pm Mar 26, 2011 7:16pm
Quoting kaspopsicle
This one ...in response to you....now i see you found it.
yeah
tks
90% of traders use TA, indicators and prediction
  • #274,803
  • Mar 26, 2011 7:34pm Mar 26, 2011 7:34pm
Quoting chazzle
You pointed me to this chart and I noticed an interesting thing as well ... EURGBP been in a falling wedge pattern since beginning of 2009 , and has , in the last 2 weeks broken to the upside , with the real body of last weeks candle completely above the top line of the wedge - looks to be targeting a bullish channel top/PA resistance at 9150 (last year's high) with 8950 to get through first (last October high)

This could well be due to traders speculating that rate rises will happen sooner on Euro than on GBP

I would have to say though , it...
gosh! great that.... i missed you posting about this!
and sincerely i never give a look at eur gbp charts

so still eur gbp will be in uptrend, we could expect eur usd more up than gbp usd?
90% of traders use TA, indicators and prediction
  • #274,804
  • Mar 26, 2011 8:17pm Mar 26, 2011 8:17pm
Good day to you,

My short term projection on GU, Going into Monday. My 15 min chart tells me that price is likely to reverse from these levels to possibly test 1.6050 area..

My 1hr chart suggests that my mid term bias remains short, but that we need a pullback off the extreme. The 1hr suggests that the 1.6100 to 1.6150 zone is also quite possible, before we can consider a possible short continuation.

It will depend on what price the market opens - if back at the current levels ( 1.6000 - 1.6020) when we open, a long will be my proposed trade. If we open at a level around 1.6050, I will wait for the 1hr to reach it's extreme and then short.

Just my opinion. Follow your rules - not mine.

Regards
Attached Image(s) (click to enlarge)
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  • #274,805
  • Mar 26, 2011 8:17pm Mar 26, 2011 8:17pm
What about the fundamentals of the GBP while I agree with the theory of relative correlation between the Euro and the Pound on the technical side however the fundamentals are different as Britain may have severe budget cuts , issue less bonds and then there is the issue of the protests
  • #274,806
  • Mar 26, 2011 9:12pm Mar 26, 2011 9:12pm
Good day to you,

Just as a final comment. If I had to look at levels of importance to fit the trade plan above, the following jumps at me:

Support here comes from the February opening price @ 1.60097. Should the move up materialize as planned, I will look at 1.6082 as the possible short term ceiling ( this number is the opening price of last week), or a slight extension to 1.6115 (the Friday opening price), which incidently confluences with the 50% line of last week @ 1.6114.

I attach a chart with some zones. Reverse or break?

Regards
Attached Image (click to enlarge)
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  • #274,807
  • Mar 27, 2011 1:19am Mar 27, 2011 1:19am
near term target 6160.
Attached Image (click to enlarge)
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  • #274,808
  • Mar 27, 2011 4:50am Mar 27, 2011 4:50am
LEVEL I WATCH.HAPPY WEEKENDS.
Attached Image (click to enlarge)
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Gold Expedition Return This Year: -16.6%
  • #274,809
  • Mar 27, 2011 1:21pm Mar 27, 2011 1:21pm
budak baru

what is this indicator, i find it very informative, may i get it?

hanx
  • #274,810
  • Mar 27, 2011 1:40pm Mar 27, 2011 1:40pm
this is what i'm looking at....is it a wonky head and shoulders or a jelly?
I'll be scalping whatever it does... jelly on the brain cos its my 1st anniversary of becoming a member tomorrow.

Thank you to everyone who has made it one of the most lively years of my life.....even though i've been on my backside for most of it.

Good luck to all for the coming week.

K....
All systems of divination, like music itself,work through patterns.
  • #274,811
  • Mar 27, 2011 1:45pm Mar 27, 2011 1:45pm
Ooops...forgot the chart for what its worth.Forgot the date as well..it was last Thurs.
Attached Image (click to enlarge)
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All systems of divination, like music itself,work through patterns.
  • #274,812
  • Mar 27, 2011 3:21pm Mar 27, 2011 3:21pm
Hello all, trading is not yet open but the charts are moving before the sydney open. It just strated at 1.6 , pretty volatile if you ask me for this time of day.
  • #274,813
  • Mar 27, 2011 8:19pm Mar 27, 2011 8:19pm
when do the bulls take this to 1.61? It's in a demand zone but I don't see much demand, although...it isn't london sesh yet.
  • #274,814
  • Mar 28, 2011 1:50am Mar 28, 2011 1:50am
Quoting TauTrader
Good day to you,

My short term projection on GU, Going into Monday. My 15 min chart tells me that price is likely to reverse from these levels to possibly test 1.6050 area..

My 1hr chart suggests that my mid term bias remains short, but that we need a pullback off the extreme. The 1hr suggests that the 1.6100 to 1.6150 zone is also quite possible, before we can consider a possible short continuation.

It will depend on what price the market opens - if back at the current levels ( 1.6000 - 1.6020) when we open, a long will be my proposed trade....
Good day to you,

I believe we are close to an interim bottom on the 15min. Have not entered yet- waiting for a last little push lower to 1.5980 or so - to scalp long.

Regards
  • #274,815
  • Mar 28, 2011 2:12am Mar 28, 2011 2:12am
Quoting TauTrader
Good day to you,

I believe we are close to an interim bottom on the 15min. Have not entered yet- waiting for a last little push lower to 1.5980 or so - to scalp long.

Regards
http://i648.photobucket.com/albums/u.../chart3-16.gif

morning buddy..i think she is going to 1.57..
just be cautious as monthly close is approaching, so expect this monthly low to break the previous..then possibly a retrace

otherwise opposite scenero..1.60 rebound
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  • #274,816
  • Mar 28, 2011 2:23am Mar 28, 2011 2:23am
Quoting nAVIN2007
http://i648.photobucket.com/albums/u.../chart3-16.gif

morning buddy..i think she is going to 1.57..
just be cautious as monthly close is approaching, so expect this monthly low to break the previous..then possibly a retrace

otherwise opposite scenero..1.60 rebound
i think it just broke the previous... or close to it.
  • #274,817
  • Mar 28, 2011 2:25am Mar 28, 2011 2:25am
I think GU will start going Up when AusUsd Begin Drop,Just my 2 Cents
  • #274,818
  • Mar 28, 2011 2:26am Mar 28, 2011 2:26am
Quoting nAVIN2007
http://i648.photobucket.com/albums/u.../chart3-16.gif

morning buddy..i think she is going to 1.57..
just be cautious as monthly close is approaching, so expect this monthly low to break the previous..then possibly a retrace

otherwise opposite scenero..1.60 rebound
good day to you,

Possible - but I think not yet.... wanna see her go take a breath fist a little higher up.

Will have to wait and see...

All the best to you for the week ahead

Trade well

Regards
  • #274,819
  • Mar 28, 2011 2:42am Mar 28, 2011 2:42am
Looks like Posen won't be re-elected.

http://imarketnews.com/?q=node/28407

I am long from right down at the bottom of the demand zone (1.5963) and just bagged TP1... TP2 is at 1.6030.

I am looking to go short around 1.6060-1.6090.

Have a great day trading!
  • #274,820
  • Mar 28, 2011 2:45am Mar 28, 2011 2:45am
Gone Long 10lots @ 1.5990 SL - 1.5939 TP- Open
To Your Success!!
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