Cable Update (GBPUSD)

Lol. Man, kiwi swap is expensive mate.. wouldn't hold long this pair..

Cost me almost $20 today for 1 Std lot, imagine if i had it hold for 100 days..

Cameron Promises Britons a Referendum on European Membership

LONDON — Prime Minister David Cameron promised Britons a decisive referendum within five years on membership in the European Union — provided he wins the next election — in a long-awaited speech on Wednesday whose implications have alarmed the Obama administration and are likely to set the markers for an intense debate in Britain and across Europe.

“It is time for the British people to have their say. It is time to settle this European question in British politics,” he told an audience in London, raising fears in capitals as distant as Washington that a ballot could lead to Britain’s withdrawal from the union.

His pledge drew a sharp response from European leaders who accused Mr. Cameron, in the words of a senior German politician, of trying to “cherry-pick” the economic benefits of membership in the union without subscribing to the broader European project. Politicians in France and Germany said Britain could not have “Europe à la carte.”

The United States has been unusually public in its insistence that Britain, a close ally, stay in the union, fearing its departure would heighten centrifugal forces that would weaken Europe as a diplomatic, military and financial partner.

President Obama recently told Mr. Cameron by telephone that “the United States values a strong U.K. in a strong European Union, which makes critical contributions to peace, prosperity and security in Europe and around the world,” a spokesman said.

Mr. Cameron coupled his promise of a referendum with an impassioned defense of continued membership in a more streamlined and competitive European Union, built around its core single market underpinning the body’s internal trade. But he acknowledged the risks, saying any exit from the European Union “would be a one-way ticket.”

“I know there will be those who say the vision I have outlined will be impossible to achieve. That there is no way our partners will cooperate. That the British people have set themselves on a path to inevitable exit. And that if we aren’t comfortable being in the E.U. after 40 years, we never will be,” he said. “But I refuse to take such a defeatist attitude — either for Britain or for Europe.”

“And when the referendum comes,” he said, “I will campaign for it with all my heart and soul.”

The speech was a defining moment in Mr. Cameron’s political career, reflecting a belief that by wresting some powers back from the European Union, he can win the support of a grudging British public that has long been ambivalent — or actively hostile — toward the idea of European integration.

“We have the character of an island nation — independent, forthright, passionate in defense of our sovereignty,” he said. “We can no more change this sensibility than drain the English Channel.”

Coming a day after the leaders of France and Germany met in Berlin to celebrate a half-century of sometimes uneasy partnership, Mr. Cameron’s plea for acknowledgment of British distinctions seemed to reflect some of the deepest political and philosophical differences between London and Continental Europe on integration.

France wants Britain to stay in the European Union, both as an ally in security matters and as a counterweight to Germany. But France is also outspoken in its refusal to allow Britain to pick and choose its obligations. Paris objects not so much to a British refusal to take on new obligations, especially since Britain does not use the euro, as to any effort to repatriate powers already ceded to Brussels.

The French concern, shared by many others in and out of the euro zone, is that Britain will undermine one of the great, if unfinished accomplishments of the European Union, the single market in goods and services.

“You cannot do Europe à la carte,” said Foreign Minister Laurent Fabius of France. “Imagine the E.U. was a soccer club: once you’ve joined up and you’re in this club, you can’t then say you want to play rugby.”

Chancellor Angela Merkel of Germany, who is often sympathetic to Mr. Cameron’s criticisms of European Union excesses, said she and her country viewed Britain as “an important part and an active member” of the European Union. The union, she said, “has always meant that we should find fair compromises.”

Source : http://www.nytimes.com

LOL.

I think once we have ucad to trade sustainably above 1.0, the dream of the bears to see higher price shattered to pieces.. that's for me..

why you vote sell boss? small time frame maybe retracement.....

thanks boss

Right now i would like to see fiber break the 3300 towards 3270 first..

Hi Bro
I'm very interested to long g/u try to find good entry

Are u serious mate?

Hai bro apa khabar? Hebat la awak ni masih stick kat sini...

ala, saje2.. boring tunggu price, lepak sini la.. ahahaha.

Scored some pips from this nice range we been having couple of days.

Still playing out.

May be nin this tunnel for a few ore days, why not just ride out the pipe before another wave comes along.

come on swissy... fly..

are they grounded today? nothing move, except the aussie and the kiwi..

The fear of Uk pulling out of the Euro will see the pound plummet agains most major currency as it present an uncertainty for now. That is my take. Sell the pound.

i think everyone here knows that already.. the question is at what price? would really like to hear your take on that..

another question is when it would happens? few days / some weeks / even months

this is my take on cable, as you can see.. cable is actually in a tight range and price atm is at support. one can short here of course but then might look like an idiot - because shorting at support.

my preferred price is at about the 5940-50 (or perhaps at the redline which reads 5960 area) definitely not at current price. Or might have to wait on the breakout retest of current support area for fresh short.

if price breaks 1.5800, then u have a bear.

Trying your strategy Specs on tiny tiny size:

Sold da Euro 3322, stop 3363, looking for 3179

Don't You think that ther's to many "IF"s in that oucring to affect curent pound rates ?
Also it's realy delayed, I'd sya that part of that fear was already priced in and yesterdays data and the fact that there won't be voting for next 2-3 years atleast may work in favour of pound in short term.