Cable Update (GBPUSD)

hello all,
i got a very good rest....

i left charts 6 hours ago n price still 6515. all today i see it 6515.

@poundtrader: im here both to learn n share my (small) experience

@redbeben: tks for the reply, now very clear . i think till we are above 6510 in this kind of consolidation, better not to short. unless a position from above 6540 like your's. once breaking below will give all the time to get it. until now, us dollar did not react....

@all: have a good easter weekend

Red - I like your analysis...I'm looking at the daily candle - if it closes like it is at the moment (bearish doji) then that's a very tempting trigger to carry on selling. I've got 6380 as my target.

Enjoy the Easter weekend, will see you Monday to see if the dragonfly doji appears and then plays out.

Removing floating supply really fast, in 5 minutes, and if you do not look volume, you don`t have a clue about that, because that candlestick does not tell you anything, just a small/average looking candlestick and not one indicator can`t tell you anything about that.
It was fun to watch, when that 5 min. candlestick was hyperactive, never seen before being so aggressive.
I do not know, if that was only to manipulate LondonOpen or if that manipulation has longer term meaning.

Hmm.. i'm very confused.. you said that next week GU will bearish.. but, in other forum, they said it will bullish because obama will agree about QE3..

believe it or not?...oohh forgot cancel my pending order....never mind

Alkhamdulillah the sell already green...



Whats nex Up/Down ?... may up till 1.6640

GBP/USD finally entered the resistance zone. We also can see the trend is up.

Just wondered how far down the 4 hour trend will go?
Last time we had a consolidation the price dropped from 16425 down to 16166 that's about 260 pips. Working on the same type of scenario that would take us down to the 16350 area which looks about right to me. That was resistance level on 14th/15th April which of course should turn into strong support level now.

I see GBPJPY testing the 133.00 support area again as daily and weekly chart is looking quite bearish. If it breaks through, next stop is 130.50

Anyone disagree with my assessment (could be totally wrong in the light of this ongoing USD weakness) please do say!

It seem that Bear is trying to fight back against the Bull next week.
What I see is still uncertainty. I shall wait for a better movement. Bull is seem so strong here. However there is possibility that Bull will lose this game. Hopefully after Asia session open I can get a clearer picture.

Happy easter to all the traders here and happy bear hunting tomorrow (probably)

morning and happy easter for the ones celebrating it

for the rest happy holidays.

bear or no bear yet I still see a top of 1.67 for GU and massive drop of 600 pips first and 300 more afterwards summing a total of 900 pips as first drop.later ....we will see if we can score another 300 pips down.

1.67-1200 pips means 1.55 I have some old trades with that TP.

GJ will drop 900 pips if we brake the 133.3 level .now we are at 135.level we were at 136 level meaning 1200 drop as well.

I was waiting for an up move on GJ but it was not validated with a brake of 136 so.....down it is.

my biggest problem now is that as I mentioned friday this year we might see one of the biggest crisis if not the biggest one ever.

US is down and still printing and printing and printing usd bills.
europe has no money left and greece is in debt again(not that it recovered after the bailout),portugal and spain are both gonners,small EU contries as romania,bulgaria are gonners since they have joined EU .....

my biggest concern now is that if all those currencyes will go down what in the world will go up ?

oil might no raise anymore.we are either heading for a WW3...or 4 if we count the middle east/african one as the third one,or we are heading for a better world...which I doubt.

I mean oil is still needed.not that much as most of the car makers started to build electrics(if we all remember UK had a small electric since the 60's and many other countries had electrics for decades)and it only means the oil industry allowed them to do it.if they allowed them to do it it means the oil is slowly loosing control and they have realised it.I wouldn't be surprised if the oil moguls we have now will be the electric moguls tmr

but,as oil is still needed and it is less and less they will fight for it.war again for oil.this one could be the world one.

or as I said we could just drop this dependence and think renewable and use sun or wind or wave energy.

so...oil will not raise much.gold? I don't use gold,I have no jewels.gold is only covering the currency as I learned in economics.

it does not apply anymore nowdays as US is printing more money than gold in it's reserve and than straws of grass so what's the point in rasing it ?

the last idea that came to my mind is that EUR will be gone,will vanish as EU will vanish.EU economy is not sustainable in this moment.actually the EU was created only to enrich the government members period.I see no bennefit for the citizens of EU so far.
some poor countries received loads of money from EU for diff projects.those money were never ever spent on what they were supposed to be spent on.most of the money went to the pokets of the corrupted govt. people.

I even know countries that were paying more to the EU than they were spending.....I mean they received money to develop the infrastructure and industry and they never came up with projects to absorb this money.the money went back to the EU treasury and that country keeps sending more money to EU than spending ?????????

the majority of EU citizens had it pretty bad after the currency change when they finally recovered after the shock they had the crisis....and now what?

sombeody said last year here on FF that all the currencies will vanish and we will have a single one called Mondo

this might happen.this might be the last option for THEM to make more money.
it can all start with a big selloff of everything and as soon as they invent it all the debts will be gone as well and a new era of scam will begin





guys,this is just a story this is how I picture it.for me it makes sense but as I am as dumb as a pile of dirt in fundies I will just trade what I see,I will be in and out of the market in a blink so nobody will spot my ninja hood

Looking forward to Next month , On May some currencies will drop like Hot Potato

redbeben, 2013 will be the year the shit hits the fan, particularly if the solar maximum is higher than predicted. If it ends up as high as the last one in 2001, I suspect the entire planet would be at risk. This is the dawning of the age of anarchy.

Hello everyone. New member on the site been following the GBP USD currency pairs for quite sometime. What is everyones take on the future of this pair. Based on an economic analysis the US economy is recovering with economic indicators looking positive. Quantitative easing is supposed to be stopped come july. The uk on the other hand is a struggling economy with GDP and consumer data looking miserable. Inflation rates have dropped to 4 % causing the MPC in the Bank of england to hold steady emergency rates of 0.5 %. I personally see the GBP/ usd pair rallying to around 1.68 to 1.70 before making a major drop around july time to approximately 1.58. Does anyone agree or disagree please share your views.

On a side note with regards to foreign exchange transactions was just wondering if it would be cheaper to use a forex account to purchase a large amount of us dollars say 200 000 dollars in exchange for pounds rather than go through the bank. An example is if the spot rate on xe.com is 1.67 the bank would want the spot rate to go to 1.68 before being able to give it to you at 1.67. On the other hand the buy and sell figures on an FX account seem a lot smaller. Any advice would be appreciated. Thank you for your time guys and have a wonderful day,

as I believed china RMB YUAN will be the next global currency as most people expected (even george soros encourage china to do so). it is slow but stable and it keeps rising.

I think this pair will shake around the 1.65 level and colapse within the next 1-2 months. An interest rate hike is unlikely until October and the UK has nothing to smile about..
The next coming week I will be watching oil as the USD is getting hammered across the board oil will go up because it is usually traded in USD which means people will need more worthless dollars to pay for it.
Either way I will be buying into dips and keeping the stops tight
Happy trading all

Piphead I do agree... Any ideas on my second query. With a spot rate like 1.67 and companies like xe.com giving 1.64 there must be a better solution. I know of better brokers who will give 1.67 at a spot rate of 1.68 on 100k + gbp, but was hoping for a better solution. Has anyone encountered this situation

Gbpusd weekly

Good day to you,

I'm back from a nice easter break. My EU trade whipped my butt. I want to congratulate you on yours. Well done

Regards