Cable Update (GBPUSD)

G/M

Big bearish thrust candle . 20 day atr follow thru on the Daily yesterday after the 2 x Doji's created on same t/f Monday, Tuesday...this t/f is in an opa range now. Intraday is bullish so far off yesterday's lo at the 61.8% 5483-5720 and at the base of the previous 4hr/1hr swing lo zone / previous 1hr swing hi zone.

G/L

Good day to you,

Just taking a last little stab...

All the best

How will the halifax's positive 1% impact on cable?

100 and 50sma's on 4hr at current daily hi .

Uk's Boe Mpc rate and Qe decision later - Qe all but guaranted an extension of most likely £50bln to £375bln, less likely is a rate cut - but don't rule it out completely - could see some volatility round the release at 12 noon bst.

Current near-term 1hr is below

G/L

Walking down with the candle

Key levels Comment

1.5705 Intraday resistance
1.566 Intraday resistance
1.564 Intraday pivot point
1.5592 Last
1.557 Fib retracement (61.8%)
1.554 Intraday support
1.5485 Intraday support

Quote:

"Central Bankers are faced today with the task of deciding on further easing or a "wait and see" policy. The Bank of England is scheduled to announce its interest rate decision and Mervyn King may move to declare another £50 billion in easing as the service and manufacturing contractions threaten a deeper recession. Mario Draghi is expected to announce a 25 basis point cut in order to help stimulate the Eurozone economy. EURUSD fell nearly 100 pips from its high before recovering slightly as traders pare bullish bets and anticipation of a rate cut rises. Stocks were mostly weaker, with the Italian MIB and Spanish IBEX leading lower -0.78% and -0.71% respectively. The Dutch AEX and Swiss SMI outperformed most European markets, strengthening 0.16% and 0.12% correspondingly.

Asian stocks have retreated during the session, as weakness in the Eurozone and anticipated easing has seen investors move out of equities and into the relative safety of the dollar and treasuries. The Hang Seng Index has fallen -0.35% while the Australian ASX has declined -0.26%. The Nikkei is marginally weaker, only losing -0.08%. The yen has been ticking downwards against peers as the specter of further easing along with BoJ Governor Shirakawa's comments signals willingness for more intervention. USDJPY is trading at 79.860 after rising as high as 80.100. AUDUSD is weaker, falling -0.28% as NZDUSD also trades -0.26% lower. The drop has been exacerbated by equity weakness.

American markets were closed yesterday for the Independence Day Holiday but are reopening ahead of major employment data. Investors and traders have been moving into the dollar preempting today's nonfarm payroll data from ADP payroll processing as DXY rises 0.48% to 82.173. The yield on the 10-year note has also fallen 4 basis points to 1.59% as Spain and France return to debt markets today for longer-term issuance. As weakening growth threatens the Eurozone, commodities are weaker across the board as copper slides -0.89% to $350.850 and WTI crude slips -0.81% to $86.95 per barrel. Precious metals are also ticking lower, as gold loses -0.25% and silver drops -0.18%. "
Just some general info...
Regards

if it will not do HH it will be good sell on break

Looking forward to hit at 1.54 by end of the week.

Looks to me like a bear flag on the H4

you might be right,

long got stuck, now there like WTF

posible

GBP/USD needs to hold above 1.5544 support, says Commerzbank technical analyst Karen Jones, if sterling is to have any chance of a topside recovery. Now at 1.5578, risk below 1.5544 is for a move to the 1.5407 June 8 low, which guards the 1.5235 2012 low. While above 1.5544 Jones says allow for a retest of the important 1.5752-1.5786 resistance area. GBP/USD is now at 1.5580, from the day's 1.5572 low

Cable shaping up for an innitial shoot to 1.5820 then 1.5920. OK, loudmouths can start Yaping

Y hoping for your longs Makavelli ?

looks like we are heading higher. also olympics around the corner. markets will be delighted if we get QE.

"hoping" is that a new indicator u just discovered?

lol..


im long from bottom and pretty tight SL right now 1.5560