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Cable Update (GBPUSD)

  • #284,641
  • Jul 20, 2011 3:22am Jul 20, 2011 3:22am
Quoting damir1
Hi evrybody i am a new here, i am short on cable i think it will go down, for now i am waiting for a GBP MPC Meeting, so i think cable gonna go down to 1.57
it will go down to 1.57 but not so soon.
  • #284,642
  • Jul 20, 2011 3:27am Jul 20, 2011 3:27am
BoE minutes are on the table...just in 3 minutes (9:30 GMT)
London Trader

Quoting tienphivirgo
How many pips will you take profit?
Discomfort and profit often stand side by side
  • #284,643
  • Jul 20, 2011 3:41am Jul 20, 2011 3:41am
somebody tells me the minutes pls, i don't find it on this web

Quoting LondonTrader
BoE minutes are on the table...just in 3 minutes (9:30 GMT)
London Trader
  • #284,644
  • Jul 20, 2011 3:49am Jul 20, 2011 3:49am
the result of BOE Meeting should bring USD more stronger.....but, actually not...why? why? why?
"sharing knowledge make us more rich"
  • #284,645
  • Jul 20, 2011 3:57am Jul 20, 2011 3:57am
Quoting tienphivirgo
How many pips will you take profit?
There are no certain amount of pips in all trade . now simply scalping long for only 6170 tp area, no good area for trade for to stay on /hold but breaking it & retest & hold above 6174 will target for 6344 area , so it depends up trade to trade.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #284,646
  • Edited 4:16am Jul 20, 2011 3:58am | Edited 4:16am
G/M

A daily bullish inverted hammer engulfs monday's candle - this the daily candle printed yesterday following the rise to 6178 from monday's low of 6003. The subsequent fall from that 6178 has found support at the 61.8% of said 6003-6178.

Opa conditions on 1hr/4hr remain mixed-bullish with 100sma on 1hr above it's 200sma, on 4hr it is below. Daily has prinbted a H above it's last LH of the downtrend on that t/f and now a HL ...100sma remains above it's 200 on that t/f.

Above current price a 1hr previous swing hi zone to 6142 before the 6168-78 previous 1hr swing hi zone above it (yesterday's hi) which is in a zone decscribed thus:

6171-94 prev 4hr swing hi zone with 6186 = 61.8% 6441-5779 and Daily R1 @/around with 6184-94 = prev 1hr sw hi zone

then:

6207 61.8% 6470-5779
6240-6262 prev 4hr/daily swing hi zone with 6248 = Daily R2 @/around, 6252 = 50% 6546-5779, and 6262 = 50% 6746-5779
6284 76.4% 6441-5779 6288 = Weekly R1 @/around
6308 76.4% 6470-5779
6319 Daily R3 @a/around
6366 76.4% 6546-5779
6376 61.8% 6746-5779
6387 Monthly R1 @/around

There is a 4hr/daily descending trend line (s) above current price.

Below current price Potential very near-term obvious support/rbs factors are shown on 1hr chart below. Daily R1 is at bottom of that previous 1hr swing lo zone @/around 6053.

Current recovery off 6068 is restrained at the 61.8% of 6178-6068.

G/L

　



　
　
　
　
　
　
　
　
　
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ex member
  • #284,647
  • Jul 20, 2011 3:59am Jul 20, 2011 3:59am
Sorry for the delay
The minutes:

BoE's Agents' Summary of Business Conditions

- The rate of growth of nominal spending on consumer goods and services remained sluggish.
- Activity in the housing market had softened in recent weeks.
- Overall, investment intentions continued to increase, although some firms had become a little more
cautious.
- The rate of export growth remained strong. More firms had begun to switch resources from domestic to
export marketing.
- Manufacturing output continued to grow, although more slowly for domestic markets than for export.
- Steady growth in output in the business services sector was also continuing.
- The level of construction output continued to rise very slowly but remained well below pre-recession
levels.
- Employment intentions indicated continuing job creation in the private sector in aggregate, though
prospects in the consumer services sector were poor.
- The degree of capacity utilisation continued to increase gradually, with slack more evident in services
than manufacturing.
- Growth in labour costs remained modest.
- Increases in the cost of raw materials showed signs of moderating, but contacts were concerned by
prospects for energy prices.
- Inflation in the cost of imported finished goods was thought likely to persist somewhat longer than that
of raw materials.
- Transmission from higher costs to output prices remained limited, putting pressure on firms’ margins.
- The rate of inflation for consumer goods and services remained high.

Have a good trading
London-Trader
Discomfort and profit often stand side by side
  • #284,648
  • Jul 20, 2011 4:03am Jul 20, 2011 4:03am
Next time you can look for the minutes at: http://www.bankofengland.co.uk/publi...mary/index.htm

London Trader

The minutes:

BoE's Agents' Summary of Business Conditions

- The rate of growth of nominal spending on consumer goods and services remained sluggish.
- Activity in the housing market had softened in recent weeks.
- Overall, investment intentions continued to increase, although some firms had become a little more
cautious.
- The rate of export growth remained strong. More firms had begun to switch resources from domestic to
export marketing.
- Manufacturing output continued to grow, although more slowly for domestic markets than for export.
- Steady growth in output in the business services sector was also continuing.
- The level of construction output continued to rise very slowly but remained well below pre-recession
levels.
- Employment intentions indicated continuing job creation in the private sector in aggregate, though
prospects in the consumer services sector were poor.
- The degree of capacity utilisation continued to increase gradually, with slack more evident in services
than manufacturing.
- Growth in labour costs remained modest.
- Increases in the cost of raw materials showed signs of moderating, but contacts were concerned by
prospects for energy prices.
- Inflation in the cost of imported finished goods was thought likely to persist somewhat longer than that
of raw materials.
- Transmission from higher costs to output prices remained limited, putting pressure on firms’ margins.
- The rate of inflation for consumer goods and services remained high.

Have a good trading
London-Trader[/quote]
Discomfort and profit often stand side by side
  • #284,649
  • Jul 20, 2011 4:06am Jul 20, 2011 4:06am
Quoting tienphivirgo
somebody tells me the minutes pls, i don't find it on this web
http://www.forexlive.com/blog/2011/0...g-less-likely/
  • #284,650
  • Jul 20, 2011 4:07am Jul 20, 2011 4:07am
Probably because:
a) market price it in before the miuntes (the droppe down just befor)
b) the GBPUSD is much lower as it was last few times
c) asian and BIS banks support the euro today which may have possitive effect on cable as well. At list at the moment

there are some other points as well...the day just started
London Trader

Quoting rullyforex
the result of BOE Meeting should bring USD more stronger.....but, actually not...why? why? why?
Discomfort and profit often stand side by side
  • #284,651
  • Jul 20, 2011 4:07am Jul 20, 2011 4:07am
Big Eurozone meeting and U.s Debt Ceiling negotiations going on in this week...no real decisions expected from either. No decision from Eurozone re Greece default etc and then no deal in time to frame legislation for a debt ceiling vote before U.s runs out of funds on August 2nd (Friday deadline for that) could mean increased volatility in markets.

Will be plenty of opportunities either way ?

G/L
ex member
  • #284,652
  • Jul 20, 2011 4:15am Jul 20, 2011 4:15am
Quoting bbmac
G/M

A daily bullish inverted hammer engulfs monday's candle - this the daily candle printed yesterday following the rise to 6178 from monday's low of 6003. The subsequent fall from that 6178 has found support at the 61.8% of said 6003-6178.

Opa conditions on 1hr/4hr remain mixed-bullish with 100sma on 1hr above it's 200sma, on 4hr it is below. Daily has prinbted a H above it's last LH of the downtrend on that t/f and now a HL ...100sma remains above it's 200 on that t/f.

Above current price a 1hr previous swing hi zone to 6142 before the 6168-78...
Great analysis .

for scalping purpose rt now , as seeing H4 tf the last candle having a big wick down & expecting many part of it be covered before up again , may be 6090/84 again to up.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #284,653
  • Jul 20, 2011 4:33am Jul 20, 2011 4:33am
Last closed 1hr bullish candle has seen a follow thru above it's close but not above it's Hi yet (@ 61.8% 6178-6068)...nice 3min hidden divergence play at the 50% of the 1-b move resulted on the pullback from that point b.

G/L
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ex member
  • #284,654
  • Jul 20, 2011 4:36am Jul 20, 2011 4:36am
2hr too has some bullish candles will an upside follow thru result ?

G/L
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ex member
  • #284,655
  • Jul 20, 2011 4:41am Jul 20, 2011 4:41am
A look at 4hr t/f.

Price is currently challenging that previous 1hr swing hi zone to 6142 detailed in post #284650.

G/L
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ex member
  • #284,656
  • Jul 20, 2011 5:15am Jul 20, 2011 5:15am
am shorting GU from my chart anaylsis. Who wants to ride with me.
Keep the Lights on then you can catch the rise from the dark.
  • #284,657
  • Jul 20, 2011 5:48am Jul 20, 2011 5:48am
It may be good to scalp (short) GBPUSD from 1.6155/65 - get between 15 to 30 points. The markets looks strong up so caution is needed

London Trader

Quoting ricmaj
am shorting GU from my chart anaylsis. Who wants to ride with me.
Discomfort and profit often stand side by side
  • #284,658
  • Jul 20, 2011 5:59am Jul 20, 2011 5:59am
Quoting LondonTrader
It may be good to scalp (short) GBPUSD from 1.6155/65 - get between 15 to 30 points. The markets looks strong up so caution is needed

London Trader
you are right, but am still waiting for a confirmation for it I need a short for 6072 now.close below 6136 then am good.
Keep the Lights on then you can catch the rise from the dark.
  • #284,659
  • Jul 20, 2011 6:41am Jul 20, 2011 6:41am
Short scalping from 1.6155/65 level might be not longer valid as there is sharp move to the upside with regards to positive news about Greece

LondonTrader

Quoting ricmaj
you are right, but am still waiting for a confirmation for it I need a short for 6072 now.close below 6136 then am good.
Discomfort and profit often stand side by side
  • #284,660
  • Jul 20, 2011 6:51am Jul 20, 2011 6:51am
It seems that market dosen`t react to that news, hm...

Quoting LondonTrader
Short scalping from 1.6155/65 level might be not longer valid as there is sharp move to the upside with regards to positive news about Greece

LondonTrader
Discomfort and profit often stand side by side
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