Cable Update (GBPUSD)

Which signals are you looking or waiting?

interesting price action on the GBP crosses.

now it is time to go short GBP/NZD

I am wondering if GBPUSD will move down today to 1.60 area.

what do you think guys?

Hi! I am new here.

What do you think about GBPUSD?

This will be a big day for GBP... I'm waiting to break down the 1.6118 cause I have short position from 1.6138. My targets are 1.6005 and 1.5830 with a 1.6205 stop. But I'm getting doubtful. Yesterdays spike is annoying me

I think GBP is overrated and it should go back to 1.56-1.59 zone.

Well.....my tired brain can muster this up.....

for those that are short......going to 1.60 would be great......for those that are long.....that would suck.

not before 1.62 but I have been wrong before I went long this morning.

now price is in trap mode :-)

Eventually.

Good morning London :-)

The last few weeks rise in GBP has been fully down to Lower QE expectations.

IF the BoE come out with more QE (about 25% likely from analysts) then we will recover all the gains from 1.58 ish.

However if they dont turn on the printers then we could see further extension. However that will be USD dependant.

Good morning all

A quick scalp or a bigger drop?

http://s8.postimage.org/mk8328yad/cabel.gif
picture hosting

Dam you hit the call perfect....right at the top.....woot!

Good entry...stop at BE and wait for the news.
TP for shorts would be around 1,6000-20

Interesting comparison chart here, perhaps a clue to why gbp crosses are acting this way. For me no current positon in cable, picture mixed wait for clearer signals.

below 6110 we are going to 6090-70-50-20

if fails to break, than better wait for news..

G/M,

Yesterday's range was 108% of the 20 day atr which stands at 85 pips. The low touched the top of the previous minor 4hr swing lo zone extending down to 6057 and the daily candle closed as a hammer - esq candle.

The recovery found supply at the 50% 6238 -6068 (yesterday's lo) and there have been another couple of upside attempts on this zone that have failed.

@/below the current price are the unbreeched fibs of the 6068-6151 (yesterday's pullback hi) move then :

6085 4hr ascending trend line coming thru on current 4hr candle
[ 6080-76-68 prev minor 4hr/1hr sw lo zone incl 6077 = Daily S1 @/around
[ 6071-57 prev minor 4hr sw hi zone
[ 6058-48= 3 fib cluster
[ 6055-24 prev minor weekly/Daily sw hi zone (non immed) incl 6045-36 = prev 4hr sw lo zone incl 6035 = Weekly S2 and 50% 5769-6300, and 6027 = Daily S2 @/around

6034 38.2% 5601-6300
6019-07 prev 4hr sw lo zone
6002 61.8% 5817-6300
5995 61.8% 5805-6300
5984 Daily S3 @/around
[ 5982-66 prev minor Daily/4hr sw hi zone (non-immed) incl 5971=61.8% 5769-6300
[ 5980-75ascending Daily and 4hr t/lines on present 4hr candle
5970-62-57 prev 4hr sw lo zone
5952 50% 5601-6300
5932/31 76.4% 5817-6300 / Weekly S3 @/around
5926 Monthly S1 @/around
5923 76.4% 5805-6300
5910-5893 prev 4hr sw lo zone incl 5894 = 38.2% 5234-6300 and 76.4% 5769-6300
5889 85.4% 5817-6300
5879 85.4% 5805-6300
5873-60 prev 4hr sw lo zone incl 5869 = 61.8% 5601-6300
5847 85.4% 5769-6300
5824-16-03-5799 prev Daily/4hr swing lo zone (prev Weekly sw lo zone to 5803)
5796-88-5769 prev Daily/4hr sw lo zone incl 5769 = 76.4% 5601-6300 and 50% 5234-6300

@/above current price per near-term current 1hr screenshot below where Daily R1 = 6168 and Daily R2 = 6210. Not shown here are the fibs of the moves from 6300, 6245 and 6238 down to yesterday's low

Uk data @ 0930am bst.

G/L

candle close below the 4hr key supports ...

maybe telling something that bears are getting on the ground.

testing 61.8% 6068-6151 at the moment.

How strong are the bears ?

G/L

HI everyone, should I buy GBP/USD today at 1.6050?