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Cable Update (GBPUSD)

  • #282,561
  • Jun 29, 2011 12:01am Jun 29, 2011 12:01am
Quoting CasperTrader
It's not going anywhere unless it breaks out of this range which at times if I remember can last for several days. Until then range trading. I would bet on it breaking out downside whenever that happens but again anything can happen.
Friday's manufacturing PMI might do it.
I don't think it would be that long. Markets are likely to concentrate on euro for a while, awaiting the results of Greek parliament voting that is scheduled today.
Technically euro is on the top area. Whatever the result can certainly drive the euro down or up, a big one imo.
And to some extent will drag cable as well, while today there is no significant news scheduled for cable.

Just my humble opinion.
  • #282,562
  • Jun 29, 2011 1:01am Jun 29, 2011 1:01am
Quoting CasperTrader
It's not going anywhere unless it breaks out of this range which at times if I remember can last for several days. Until then range trading. I would bet on it breaking out downside whenever that happens but again anything can happen.
Friday's manufacturing PMI might do it.

Morning. Cool chart it reminded me this:

http://thumbs.dreamstime.com/thumb_2...2225BTnBNY.jpg

So what direction do we have now?

Josef
  • #282,563
  • Jun 29, 2011 1:05am Jun 29, 2011 1:05am
Quoting josef
Morning. Cool chart it reminded me this:

http://thumbs.dreamstime.com/thumb_2...2225BTnBNY.jpg

So what direction do we have now?

Josef
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  • #282,564
  • Jun 29, 2011 1:08am Jun 29, 2011 1:08am
Quoting iqyu5an
12H - Daily - 2 Daily Time Frame
http://www.forexfactory.com/attachme...1&d=1309313997
very interesting pattern in h2
90% of traders use TA, indicators and prediction
  • #282,565
  • Jun 29, 2011 1:12am Jun 29, 2011 1:12am
If we get positive vote from Greece we could see breaking of 1.6050, but I still prefer short on cable, 1.6135-50 seems OK to me.
  • #282,566
  • Jun 29, 2011 1:14am Jun 29, 2011 1:14am
Quoting josef
Morning. Cool chart it reminded me this:

http://thumbs.dreamstime.com/thumb_2...2225BTnBNY.jpg

So what direction do we have now?

Josef
Right on.
  • #282,567
  • Jun 29, 2011 1:16am Jun 29, 2011 1:16am
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 4h.gif Size: 163 KB


Bulls have a lots of homework to do, maybe Greece can help with it.


Cheers
  • #282,568
  • Jun 29, 2011 1:43am Jun 29, 2011 1:43am
my idea?
greek parliament will vote against all those things and this will be first stone of an hot summer for EURO, GOLD etc...
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  • #282,569
  • Jun 29, 2011 1:50am Jun 29, 2011 1:50am
Quoting _BBKing_
my idea?
greek parliament will vote against all those things and this will be first stone of an hot summer for EURO, GOLD etc...
I disagree.
Smells like up..
Trader from Croatia
  • #282,570
  • Jun 29, 2011 1:52am Jun 29, 2011 1:52am
the damn 6010 this time is giving less resistance than latest ones
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  • #282,571
  • Jun 29, 2011 1:55am Jun 29, 2011 1:55am
http://www.telegraph.co.uk/finance/n...Asda-boss.html
  • #282,572
  • Jun 29, 2011 1:55am Jun 29, 2011 1:55am
Quoting Geene
I disagree.
Smells like up..
that's why i think will crash!
anyway is completely unpredictable so.... lets see what will happen!
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  • #282,573
  • Jun 29, 2011 1:58am Jun 29, 2011 1:58am
Quoting _BBKing_
the damn 6010 this time is giving less resistance than latest ones
uhm
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  • #282,574
  • Jun 29, 2011 2:08am Jun 29, 2011 2:08am
6010 is damn resistance even the euro shooting up means..........more downside in cable.......????
  • #282,575
  • Jun 29, 2011 2:10am Jun 29, 2011 2:10am
G/M

Effective double bottom at 5910/12 area creates another Daily t/f Bullish candle - this @ an effective 2nd LL on that daily t/f. The recovery off 5910 found supply at the previous hr/4hr swing hi zone / 38.2% 6262-5910 and has since sold off from there to the 50% of said 5910-6043.

Below current price the unbreeched fibs of the 5910 - 6043 move as well as the now 1hr/4hr previous swwing lo zone around that 5910/12 Lo. Belo there:

5878 61.8% 5343-6746
5848 [61.8% 5290-6746] - 5819 Minor previous Daily swing lo zone
5842 Weekly S1
5790 [38.2% 4225-6746] - 5746 Previous Daily swing lo zone
5735 Monthly S2
5727 Weekly S2

Above current price and the previous 1hr and 1hr/4hr swing hi/lo's that may hold potential resistance/sbr are as shown on current near-term 1hr chart below...not shown on there are the main unbreeched fibs of the 6746, 6546, 6470,6441 and 6262 Daily/4hr swings to that current 5910 lo.

6052-59 is weekly pivot, daily r1 and 23.6% 6546-59210 and 61.8% 6149-same 5910 (1hr swing.)

Event Risk: Uk data at 0930am London and of course the Greek vote (s) is today re austerity measures etc...some volatility expected around that-particularly if a NO.

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 99 KB
ex member
  • #282,576
  • Jun 29, 2011 2:12am Jun 29, 2011 2:12am
Quoting bchbch
6010 is damn resistance even the euro shooting up means..........more downside in cable.......????
i dont think that gbp will get so much effects!
the matter is on EURO
so... eur gbp surely will get a boost.
gbp has its own way today.

other thing is if vote is bad.
gbp, eur, gold, oil etcc.... will crash bad n fast.
whole world will sell everything imo. gosh.. i hope things will be good!
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  • #282,577
  • Jun 29, 2011 2:16am Jun 29, 2011 2:16am
the 6010 must go to see 6040-45 test.
if not is again 5970-80
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  • #282,578
  • Jun 29, 2011 2:22am Jun 29, 2011 2:22am
The most likely outcome is a narrow yes vote ? but if the vote is NO - it's a sell € bonanza isn't it? as the most likely trade.

Time will tell

G/L
ex member
  • #282,579
  • Jun 29, 2011 2:27am Jun 29, 2011 2:27am
Quoting _BBKing_
the 6010 must go to see 6040-45 test.
if not is again 5970-80
Thanks bbking. At what gmt time the vote news will release. just like to know. any idea???
  • #282,580
  • Jun 29, 2011 2:32am Jun 29, 2011 2:32am
some one is driving market in a very bad way.
could please some one teach him something?
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