Cable Update (GBPUSD)

guys
i think Weale already knows something about today's UK CPI.

who agree?
is it already priced by asian session pushing price into 64 area?
any idea?

The up coming news abt cable seems negative so before the news the bull taking advantage and one say this as bull trap... will see the bear appear after the news. lets wait...

Be cautious about Zone of 6440 - 6465 is a supply zone
GL

various patterns of regular bearish divergence to 1hr oscillators, 15min shown being double regular immediate bearish divergence in the osma oscillator (white.) Ie the indication was of a slowing in momentum on the last 2 x legs up on this t/f that may be sufficient for sellers to overwhelm buyers (howsoever temporarily in an uptrend)..where do sellers live and outnumber buyers ? - at resistance !

G/L

More buyers than sellers is driving it up - from a technical perspective it doesn't matter why.

great answer!

ok i bought again 6422

buy stops above resistance lines
sell stops below

see you later

good luck with this move

I still retain a bearish sentiment for this pair. There is not much room for manoeuvre with this economy. An interest rate rise would probably be the final straw for businesses and those still in work and buying houses. I think the latest rush up is stop running shorts. It certainly did it to mine... Watch out for the news.

out -10 on the long

http://i1190.photobucket.com/albums/...june2011gu.gif

I found Bulling Engulfing pattern on GU Daily Candlestick...

Am looking at GBP reaching the 65XX area today, and even with the news there can be no stopping it....everyone knows that the economy is bad so no much speculation. I long all the way. Anyways Safe Trending and Safe Trade as always

it go south as expected

sell stop went in 6409

Pullback has exceeded the base of the previous 1hr swing lo zone, 23.6% 6282-6440...this is the current near-term 1hr screenshot. Fibs drawn from 6212, 6282 and 6354 to current 6440 Hi.

Uk Data in 10mins or so.

G/L

look at m30...

possible touch in 6380

still on channel

we go North all the way...............we taking the southerns out today, Laffs anyway safe trades and take the pips in any direction

Lets witness the news and see where we land due in 30sec

nowhere so far, but look at that spike, what a sting

but due to post 2008 trends bad news means up and vice versa
lets go 1.45

Let's go down with Cable. About 1,6350 is possible.

Nice spike....
lets go BEAR>>>