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Cable Update (GBPUSD)

  • #281,281
  • Jun 14, 2011 12:54am Jun 14, 2011 12:54am
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?
90% of traders use TA, indicators and prediction
  • #281,282
  • Jun 14, 2011 12:55am Jun 14, 2011 12:55am
Quoting magbrr
Can someone please explain? What is driving the pound upwards? This is weird.
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...
  • #281,283
  • Jun 14, 2011 12:56am Jun 14, 2011 12:56am
Be cautious about Zone of 6440 - 6465 is a supply zone
GL
  • #281,284
  • Jun 14, 2011 12:57am Jun 14, 2011 12:57am
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
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ex member
  • #281,285
  • Jun 14, 2011 12:59am Jun 14, 2011 12:59am
More buyers than sellers is driving it up - from a technical perspective it doesn't matter why.

Quoting magbrr
Can someone please explain? What is driving the pound upwards? This is weird.
ex member
  • #281,286
  • Jun 14, 2011 1:07am Jun 14, 2011 1:07am
Quoting bbmac
More buyers than sellers is driving it up - from a technical perspective it doesn't matter why.

great answer!
90% of traders use TA, indicators and prediction
  • #281,287
  • Jun 14, 2011 1:09am Jun 14, 2011 1:09am
ok i bought again 6422

buy stops above resistance lines
sell stops below

see you later

good luck with this move
90% of traders use TA, indicators and prediction
  • #281,288
  • Jun 14, 2011 1:10am Jun 14, 2011 1:10am
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.
Gone to a better place
  • #281,289
  • Jun 14, 2011 1:15am Jun 14, 2011 1:15am
out -10 on the long
90% of traders use TA, indicators and prediction
  • #281,290
  • Jun 14, 2011 1:16am Jun 14, 2011 1:16am

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


I found Bulling Engulfing pattern on GU Daily Candlestick...
  • #281,291
  • Jun 14, 2011 1:16am Jun 14, 2011 1:16am
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
Keep the Lights on then you can catch the rise from the dark.
  • #281,292
  • Jun 14, 2011 1:18am Jun 14, 2011 1:18am
it go south as expected
  • #281,293
  • Jun 14, 2011 1:19am Jun 14, 2011 1:19am
sell stop went in 6409
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  • #281,294
  • Jun 14, 2011 1:20am Jun 14, 2011 1:20am
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
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ex member
  • #281,295
  • Jun 14, 2011 1:26am Jun 14, 2011 1:26am
look at m30...

possible touch in 6380

still on channel
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90% of traders use TA, indicators and prediction
  • #281,296
  • Jun 14, 2011 1:28am Jun 14, 2011 1:28am
Quoting izzas
it go south as expected
we go North all the way...............we taking the southerns out today, Laffs anyway safe trades and take the pips in any direction
Keep the Lights on then you can catch the rise from the dark.
  • #281,297
  • Jun 14, 2011 1:29am Jun 14, 2011 1:29am
Lets witness the news and see where we land due in 30sec
Keep the Lights on then you can catch the rise from the dark.
  • #281,298
  • Jun 14, 2011 1:32am Jun 14, 2011 1:32am
Quoting ricmaj
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
  • #281,299
  • Jun 14, 2011 1:34am Jun 14, 2011 1:34am
Let's go down with Cable. About 1,6350 is possible.
  • #281,300
  • Jun 14, 2011 1:35am Jun 14, 2011 1:35am
Nice spike....
lets go BEAR>>>
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