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Cable Update (GBPUSD)

  • #297,281
  • Jan 10, 2012 4:48pm Jan 10, 2012 4:48pm
Open interest dropped 8% in sterling futures market few days ago. Since then it has added over 13,000 new transactions. I bet these are long contracts as commercial trader now hold whooping 80% of the total market in gbp futures. I think gbp/usd is long term uptrend reflecting dollar weakness. We shall see

Quoting inpatient
Although i agree about the bearish sentiment driving consensus i am still concerned that were struggling to move down at all for the last several hours.

Still holding my short from 1.5490 with fingers and toes crossed...
  • #297,282
  • Jan 10, 2012 5:03pm Jan 10, 2012 5:03pm
http://www.dailyfx.com/forex/fundame...SD_Update.html

not sure about that long term trend on gbp.. it's been a downtrend since october.. I wouldn't put my eggs in one basket that this is the floor

gbp index is already seeing resistance on the last two 4 hour candles after a large bull candle and rsi is already turning down
  • #297,283
  • Jan 10, 2012 5:11pm Jan 10, 2012 5:11pm
I mean I like dailyfx but consider the fact that they work for FXCM and other brokers and they want you to lose money. I just dont buy their analysis. They are biased. Always watching my own charts.

Quoting Dyekid217
http://www.dailyfx.com/forex/fundame...SD_Update.html
  • #297,284
  • Jan 10, 2012 5:12pm Jan 10, 2012 5:12pm
Quoting inpatient
Although i agree about the bearish sentiment driving consensus i am still concerned that were struggling to move down at all for the last several hours.

Still holding my short from 1.5490 with fingers and toes crossed...
if she breaks 1.5450 again i think your be ok. whats your t/p
  • #297,285
  • Jan 10, 2012 5:18pm Jan 10, 2012 5:18pm
Quoting gfs
I mean I like dailyfx but consider the fact that they work for FXCM and other brokers and they want you to lose money. I just dont buy their analysis. They are biased. Always watching my own charts.
i just follow their news.. I'm watching all of the major indexes on sigtrader and gbp is in a clear downtrend and usd is in a clear uptrend..

most of the months a currency will head in the same direction for the entire month. and USD has been in an uptrend for the first week of the month already opposite of gbp which has been a downtrend
  • #297,286
  • Jan 10, 2012 5:29pm Jan 10, 2012 5:29pm
Lower TF : looks like divergence
Daily : some broker , bullish. other , not closed yet
Stock All Region : Green
Gold : Green
Oil : Red

Temporary Resistance Fib : 38 weekly fib and 50 yearly fib
not euphoria follower
  • #297,287
  • Jan 10, 2012 5:37pm Jan 10, 2012 5:37pm
Quoting Dyekid217
same as I've been saying since yesterday, Just checked the daily outlook on dailyfx and usd is expected to remain bullish after a slight correction today. So unless there is a freakish movement in price the gbpusd remains bearish

Dyekid would you care to tell me why you posted a quote from 2006????

The takis quote? From November 2006.
Gone to a better place
  • #297,288
  • Jan 10, 2012 5:42pm Jan 10, 2012 5:42pm
Wow I hadn't even noticed lol. I must have been on the first page =P
  • #297,289
  • Jan 10, 2012 5:44pm Jan 10, 2012 5:44pm
Quoting PoundTrader
if she breaks 1.5450 again i think your be ok. whats your t/p
Im only looking for 60 pips down, my confidence is low on the whole right now, seems like a lot of conflicting data.
Money never sleeps...
  • #297,290
  • Jan 10, 2012 6:01pm Jan 10, 2012 6:01pm
Quoting inpatient
Im only looking for 60 pips down, my confidence is low on the whole right now, seems like a lot of conflicting data.
ok
  • #297,291
  • Jan 10, 2012 6:01pm Jan 10, 2012 6:01pm
just broke out of consolidation southbound. usd index gaining strength
  • #297,292
  • Jan 10, 2012 6:14pm Jan 10, 2012 6:14pm
Quoting Dyekid217
just broke out of consolidation southbound. usd index gaining strength
Watching 1hr 50ema for confirmation. Could break north again after retesting here.
Come with me if you want to live....
  • #297,293
  • Jan 10, 2012 6:28pm Jan 10, 2012 6:28pm
Quoting Ill-b-back
Watching 1hr 50ema for confirmation. Could break north again after retesting here.
yep could break either way, that why i have my buy and sell stop orders in, after taking 30 pips profit from long now i sit back and see what happens with my orders, good luck to all
  • #297,294
  • Jan 10, 2012 6:28pm Jan 10, 2012 6:28pm
im also looking at the 1 hr.. if I get a close below my current demark trendline then the short is on
  • #297,295
  • Jan 10, 2012 6:42pm Jan 10, 2012 6:42pm
Quoting PoundTrader
yep could break either way, that why i have my buy and sell stop orders in, after taking 30 pips profit from long now i sit back and see what happens with my orders, good luck to all
Dammit, not at my computer to see what is going on. You got a potential sell signal PT similar to the last one last week where I coughed up 80 odd pips? My SL at BE targeting 56 something. Tempted to take some profit now but will sit i think. If Asia decides to do something for change and go south, I will be miffed.
Come with me if you want to live....
  • #297,296
  • Jan 10, 2012 6:44pm Jan 10, 2012 6:44pm
Quoting Ill-b-back
Dammit, not at my computer to see what is going on. You got a potential sell signal PT similar to the last one last week where I coughed up 80 odd pips? My SL at BE targeting 56 something. Tempted to take some profit now but will sit i think. If Asia decides to do something for change and go south, I will be miffed.
no sell or buy signal yet, waiting for break of 1.5450 to sell and 1.5505 for buy
  • #297,297
  • Jan 10, 2012 6:48pm Jan 10, 2012 6:48pm
Quoting PoundTrader
no sell or buy signal yet, waiting for break of 1.5450 to sell and 1.5505 for buy
Yep cool thx dude, feel a little better.
Come with me if you want to live....
  • #297,298
  • Jan 10, 2012 6:52pm Jan 10, 2012 6:52pm
Quoting Ill-b-back
Yep cool thx dude, feel a little better.
  • #297,299
  • Jan 10, 2012 6:57pm Jan 10, 2012 6:57pm
Quoting PoundTrader
No bro, you are too kind. It's to you
Come with me if you want to live....
  • #297,300
  • Jan 10, 2012 7:04pm Jan 10, 2012 7:04pm
That 30min 100sma looks juicy long. Come on honey, hold up for me xxx
Come with me if you want to live....
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