Cable Update (GBPUSD)

cut interest rate : done >>>> low cost for recovery in long term >> increase intrinsic value

now we're waiting Greece, once it's kicked out ... will trigger more bullish

just 0.02 cent

ok they increased rates to move euro value up coz they knew this decrease due to greek issue.
what would be actual rate without that increase in the middle of the year?
lolz.

euro is going like crazy but i stay with gbp
no target for my long.

they're sister currency

world need low cost economy to be more competitive

cut interest will be new economy trend ........ just like fashion hahhaha

long at 1.59664
yeah crazy day before nfp

i dont like that price stopped exactly at that 61% fibofan
im holding just because my stop already @BE and coz good profits yesterday+today.

Lots of turmoil today here also & still likely , not traded this though today.
will wait for a probable good set up before any .still in bull set up gu but it should fail & take more correction & so waiting see perhaps the bull actually fail at top . last leg up running now if able top up .
fontu

i enlarged stop loss.....


damn stop hunter

With all of the nonsense coming out of Europe, the G20 fine dining, and goodness knows what emanating from Greece for tomorrow -the news out of that place seems to change hourly - and non-farm on top of that, I think it may be better to sit out the rest of the week and go riding tomorrow.

Good luck to any taking a trade tomorrow. Hmm, if I feel so inclined, may look for mark down on Cable prior to the morning's PMI release, but with so much else going on, and fundamentals ostensibly climbing into the driver's seat for a few days, I'm not sure of what to expect.

The weekend will allow banks to settle accounts on the news of the EU interest rate cut, so holding over the weekend may not be so great.

Next week: Will watch for German industrial production news on Monday, but am interested to see where Cable is before the Tuesday release of manufacturing data. If good, like today's not so dire services PMI, I would like to see the play for the 1.64 level/FE 61.8 on the daily.

Anyway, enough projection. Hope all have a good weekend, and hope to frequent bbmac's little summit on Monday.

Second attachment shows the fraudsters in Cannes. Although they look as if they are waiting for someone to tell them what to do, it is the board at the back that makes me smile.

New world, new ideas... yeah right, I doubt between them they have any idea of what to do apart from squabble and try their best to protect their own interests.

Smashed it on this pair today, made over 200 pips in total since london open this morning, classic head and shoulders pattern set up right now aswell. If I do enter it will be a sell, tp @ 1.5920 or 1.5960, however will wait for confirmation candle before I make a move.

TP hit - 99 + . Im done for the week. Don't want to hang around for tomorrow. See you next week.

RSI and CCI are both showing divergence, a downward move is very likely in the asian session

Not averse to a bit of that yourself I seem to remember? Welcome back to the threads Condor. Looking forward to reading more of your posts.

In the meantime, a typical schizophrenic cable day the day before NFP and exacerbated by market uncertainties. Well done the scalping tigers... Have pity on us medium/longer term traders who all got their stops blown when we know we were in the right direction. Shouldn't complain, all my trades were in profit.

Might be the right time to build shorts again.

The weekly candle has one more day remaining. At this point it is showing a hammer following a 3 white soldier formation. Yellow 5 sma retrace then up from there.

PA was quite bullish after euro rate cut for the eur/usd. Cable followed suit.Today's brutal moves cleared stops up and down the line for a possible move up.

Market Sentiment reversed to Risk On again after being seriously Risk Off, during the asian session. I wish the Greek would keep his mouth shut.

Ranges have held this week so far.

closed it all by mistake instead of partial @ neckline, won't re enter, not a big fan of asia





.... other sells

Daily chart is showing a breakout through cluster sma resistance. Orange 61 fib is sitting at 1.6090. Red 200 sma is 1.6139. Previous high of 1.6161 is likely to be tested if Risk On sentiment continues.

Risk aversion sentiment would cancel this view.

4 hour chart shows the cluster sma resistance turned support sitting below current price. we should see a pull back to the brown 55 sma, @1.6000/5990 area, then a test of the offers that are sitting at 1.6090.

I don't think we gonna test 6090, looks more like a downside to me, mate.

I think once we get confirmation the continuation uptrend for the swissy, i think the game is on.. more pressure for the cable & fiber. IMHO.

The confirmation for swissy is the price be able to trade sustainably above 8830 and the break of the flag, of course.