Cable Update (GBPUSD)

i went out +16
average +15,5
not a bad 'warm up' lap

a coffee please!

Bearish start to the London session.

With price already travelled 103% of it's 20week atr it will be interesting to see if we get more downside today. ...If King;'s assertion that Uk's inflation is imported is correctthen excahnge rate needs to rise to counter it but not sufficiently to snuff outr export growth re Gdp and Trade Bal etc...delicate balance.

This is what I am looking at to the immediate downside of current price:

Unbreeched 76.4% fib of the 5937-6028 move @ 5958, just below a previous 1hr swing lo zone to 5960

Previous 1hr/4hr swing lo zone to 5937 inside a previous daily/weekly swing lo zone to 5934, containing Daily S1 @/around 5946

5878/76/74 61.8% 5343-6746/Daily S2/Weekly S2

5848 [61.8% 5290-6746] - 5819 Minor previous Daily swing lo zone

5816 Daily S3

5790 [38.2% 4225-6746] - 5746 Previous Daily swing lo zone

5735 Monthly S2

G/L

was better to hold

15min better shows this minor previous 1hr swing lo zone to 5960, how much demand here ? 76.4% 5937-6028 just under it then it's the swing lo zone down to 5934 I guess if breeched as next most obvious potential support.

Looking Bearish atm

G/L

http://gyazo.com/9aabf6b1a218bc5c1567dc0dca3fec0f.png

As the politicians and wise folk meet in Greece to lend them more money to repay the money they cannot repay whilst insisting on tax hikes and spending cuts as conditions of that further loan - that will further shrink their economy/ability to repay as a price for such a scheme (wonder where that will lead?) it is not well known but Ben Bernanke (Chairman of U.s Federal Reserve) whilst @ Harvard as a student was in a band called Ben and the Portaloos and had a minor hit with 'I'd give it 5minutes-Darth vader,' although their follow up 'Auntie mary's canary' was a flop...perthaps why this is why he turned to economics..Economics 101 is also perhaps what the Greek negotiators should have read !?

G/L

Is it just a pullback or will cable stay above yesterday's lo?

...will markets turn again to 'riskier' assets -vs- $ now if the Greece deal with Eu/IMF is seen as a positive ?

G/L

5950 support seem, intact without any breaches at the moment. Am Still holding a minor Bullish sentiment today, with my focus above 6030 area. I just wait and see how PA goes.

sincerely i still see a strong pressure down guys.

and daily closed strong below ema 200
for me..... it is 58 area maybe 57 today.

but, lets see where goes now.

im a small bear in this battle for 5950

killed

So am I KING.
I see the same BB as you lol
Hercules is pushing the royal cable to 5930 zone.
Patience.
And then.........fly Robin Fly

Just Shorted 5969 as extra bonus.

wrong thread i know but does anyone have any insight in
the pound v kiwi its just gone one way since earthquake low.

regular bullish divergence to 5min t/f down at 5950...3min shown below had double regular immediate seperate valley bullish div...clearly some demand there

G/L

yes bbmac!
great sharing

hi,

sorry but i have no idea about!
i hope someone else here can answer you