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Cable Update (GBPUSD)

  • #315,181
  • May 30, 2012 12:48am May 30, 2012 12:48am
Quoting _BBKing_
yes UJ gone insane and GU down.
lol
GBP/JPY is down 50 pips in last one hour...i think we can add positions when it retrace back...it has very good moment...compare to GBP/USD...

But,both are going down....
I am a hunter...i kill both bulls and bears...
  • #315,182
  • May 30, 2012 12:55am May 30, 2012 12:55am
Quoting oathbreaker
GBP/JPY is down 50 pips in last one hour...i think we can add positions when it retrace back...it has very good moment...compare to GBP/USD...

But,both are going down....
yes can also be going into 120-122 area soon. seen in daily looks very probable from here. must be careful anyway at this 123. once gave a strong reject.
let's see!
about 118 imo require more time..
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_JPY_Daily_snapshot.jpg Size: 65 KB
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  • #315,183
  • May 30, 2012 12:56am May 30, 2012 12:56am
Out of all weaker shorts, just 1 left open.
Some possible resistance for today.

Off to work, take care
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Come with me if you want to live....
  • #315,184
  • May 30, 2012 1:03am May 30, 2012 1:03am
Where goin down down Baby!..this is ridiculous can someone plz!!! explain why GBP goes dwn with the EUR can somebody explain to ppl that the U.K. & Europe are not at all the same thing!
  • #315,185
  • May 30, 2012 1:07am May 30, 2012 1:07am
122 today but take profit


Quoting _BBKing_
yes can also be going into 120-122 area soon. seen in daily looks very probable from here. must be careful anyway at this 123. once gave a strong reject.
let's see!
about 118 imo require more time..
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  • #315,186
  • May 30, 2012 1:09am May 30, 2012 1:09am
its a runner
Attached Image
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  • #315,187
  • May 30, 2012 1:09am May 30, 2012 1:09am
target eu is
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  • #315,188
  • May 30, 2012 1:11am May 30, 2012 1:11am
2.1000 / 1.7200=
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  • #315,189
  • May 30, 2012 1:11am May 30, 2012 1:11am
gold down to bottom
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  • #315,190
  • May 30, 2012 1:12am May 30, 2012 1:12am
nearly 250 take it

risk ,half that ,in line with monthly

Quoting Bones
2.1000 / 1.7200=
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  • #315,191
  • May 30, 2012 1:15am May 30, 2012 1:15am
G/M

Downside follow thru on yesterday's bearish Daily candle and breech of the 5601 previous Weekly/Daily swing lo zone and Monthly S2/Weekly S1 as 4hr/1hr range between 5628 and 5726 was broekn to that downside.

Monthly candle could well close as a master bearish engulfing x 3 (thrust?)

5560 the current daily lo and pullback from here.

Below here:

5546 Daily S2 @/around
5502-5487 prev Daily sw hi zone (non immed) incl 5495=Weekly S2 @/around, and 5487=76.4% 5234-6300
5485 Daily S3 @/around
5470-60 Weekly ascending t/line coming thru on present daily candle
5428 Monthly S3 @/around
5392 85.4% 5234-6300
5361 Weekly S3 @/around

So many swing highs to draw fibs from to current Daily lo from annd including 6300 - take your pick lol !

Daily/4hr remain in their general opa downtrends and 1hr resumes a classic opa downtrend.

Current near-term 1hr screenshot below.

G/L
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  • #315,192
  • May 30, 2012 1:17am May 30, 2012 1:17am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Nice ABCD Pattern trade using confluence with WEEKLY PIVOTS. Seems like the LB lays these out nicely pretty often
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  • #315,193
  • May 30, 2012 1:33am May 30, 2012 1:33am
Quoting _BBKing_
yes can also be going into 120-122 area soon. seen in daily looks very probable from here. must be careful anyway at this 123. once gave a strong reject.
let's see!
about 118 imo require more time..
ya it requires some time...But imo it will reach in 2-3 weeks....

Presently Japan is more worried about deflation...lets see what happens...

my target is 118 and even it can go less than that....

imo...GBP/USD will be in the range of 1.50-1.52 because they want to make pound cheap...so they can attract more people around the world with low hotel and other rates for olympics..
I am a hunter...i kill both bulls and bears...
  • #315,194
  • May 30, 2012 1:34am May 30, 2012 1:34am
Quoting eggs
Nice ABCD Pattern trade using confluence with WEEKLY PIVOTS. Seems like the LB lays these out nicely pretty often
Can I ask, what is LB eggs?
Come with me if you want to live....
  • #315,195
  • May 30, 2012 1:36am May 30, 2012 1:36am
lol take 1.6300 ,test of 1.5600 gonna be bearish if happen s


Quoting bbmac
G/M

Downside follow thru on yesterday's bearish Daily candle and breech of the 5601 previous Weekly/Daily swing lo zone and Monthly S2/Weekly S1 as 4hr/1hr range between 5628 and 5726 was broekn to that downside.

Monthly candle could well close as a master bearish engulfing x 3 (thrust?)

5560 the current daily lo and pullback from here.

Below here:

5546 Daily S2 @/around
5502-5487 prev Daily sw hi zone (non immed) incl 5495=Weekly S2 @/around, and 5487=76.4% 5234-6300
5485 Daily S3 @/around
[b][i]5470-60 Weekly ascending...
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  • #315,196
  • May 30, 2012 1:39am May 30, 2012 1:39am
here ,i hope easy trading
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h1 18-5trade 2.gif Size: 16 KB
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  • #315,197
  • May 30, 2012 1:39am May 30, 2012 1:39am
Quoting oathbreaker
imo...GBP/USD will be in the range of 1.50-1.52 because they want to make pound cheap...so they can attract more people around the world with low hotel and other rates for olympics..
Do you think they want more dollars in their economy?
  • #315,198
  • May 30, 2012 1:41am May 30, 2012 1:41am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
Can I ask, what is LB eggs?
Yes sorry lb. = pound
  • #315,199
  • May 30, 2012 2:04am May 30, 2012 2:04am
Quoting clkdtm
Where goin down down Baby!..this is ridiculous can someone plz!!! explain why GBP goes dwn with the EUR can somebody explain to ppl that the U.K. & Europe are not at all the same thing!
EUR n GBP have an high degree of correlation VS the USD.
in this overall scenario, market is buying USD due to european worsening economic things. so the USD is going stronger. there is then more pressure in sell EUR than GBP.
In my opinion, actually GBP is holding very well this situation. ok crashed down a lot but still in good price levels talking in long term. if you see, GBP vs other pairs is not losing that much, only vs USD heavy and recently vs JPY (typical in risk aversion scenario), while EUR is losing everywhere a lot of ground....

Europe and UK are certainly not the same thing! And so EUR and GBP are not the same thing!! but since they are USD related, market is buying USD like there is nothing else to do, GU price goes down. and will keep going down until things will change or until there is an exhaustion of this buy mania.
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  • #315,200
  • May 30, 2012 2:04am May 30, 2012 2:04am
Looking to the downside there are 2 ascending trend lines of note and they are shown on weekly chart below.

Certainly bearish PA atm.

3rd LL now on Daily after 4 x LH's.

5546 Daily S2 @/around
5502-5487 prev Daily sw hi zone (non immed) incl 5495=Weekly S2 @/around, and 5487=76.4% 5234-6300
5485 Daily S2 @/around
5470-60 Weekly ascending t/line coming thru on present daily candle
5428 Monthly S3 @/around
5392 85.4% 5234-6300
5366-37 prev minor dly sw hi zone incl 5361 Weekly S3 @/around
5340-30 Monthly ascending t/line coming thru on present daily candle
5275-34 prev Mthly/Weekly/Daily swing lo zone

G/L
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