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Cable Update (GBPUSD)

  • #334,941
  • Jan 29, 2013 2:56pm Jan 29, 2013 2:56pm
Finally broke the wedge to the upperside. But, why is it stalling there? Is it fake?
  • #334,942
  • Jan 29, 2013 3:42pm Jan 29, 2013 3:42pm
Hello all,
this is my up-to-date view on the GBP/USD:

http://www.forexfactory.com/attachme...1&d=1359494943

Bulls defending the 1.5665 level could mean a possibility for the move higher to resume. Participation was not strong but enough to defend the weekly support area. I see two scenario unfolding:

Scenario 1. If the 1.5830 level will oppose resistance the sequence of measured moves lower will continue and potentially bring price into the 1.5600 area (1st target) and then 1.5480 (2nd target).

Scenario 2. Should price move above the 1.5870 level, the weekly support will be confirmed and price could continue higher after a retracement.
The retracement could bring price down tot 1.5790-1.5800 (this level could be different and it will be defined later on as price develops) area before a continuation higher.

Hope this helps
Have a great eve.
Cheers
"markets traded by programs/HFT offer a significant trading edge..."
  • #334,943
  • Jan 29, 2013 4:13pm Jan 29, 2013 4:13pm
Funny things happening here, closed my 1.6 short.
Am watching 5860 area.
Come with me if you want to live....
  • #334,944
  • Jan 29, 2013 11:19pm Jan 29, 2013 11:19pm
Quoting CasperTrader
Finally broke the wedge to the upperside. But, why is it stalling there? Is it fake?
Or is it calm before the storm?
  • #334,945
  • Jan 29, 2013 11:33pm Jan 29, 2013 11:33pm
Quoting CasperTrader
Or is it calm before the storm?
loads of news today.

I think its a little bit weird that it goes down.
  • #334,946
  • Jan 30, 2013 12:52am Jan 30, 2013 12:52am
Quoting growingeuro
loads of news today.

I think its a little bit weird that it goes down.

today is going to be fun day can't wait for fun to begin
Loosening is not an option
  • #334,947
  • Jan 30, 2013 1:54am Jan 30, 2013 1:54am
There you go bulls, now stop your complaining

Just kidding guys, enjoy
Come with me if you want to live....
  • #334,948
  • Jan 30, 2013 3:03am Jan 30, 2013 3:03am
Quoting Ill-b-back
There you go bulls, now stop your complaining

Just kidding guys, enjoy

do we have long @30?
Loosening is not an option
  • #334,949
  • Jan 30, 2013 3:03am Jan 30, 2013 3:03am
Quoting Ill-b-back
There you go bulls, now stop your complaining

Just kidding guys, enjoy
Then again maybe not

lol...
Come with me if you want to live....
  • #334,950
  • Jan 30, 2013 3:06am Jan 30, 2013 3:06am
Quoting Vilkas
do we have long @30?
No idea.

To me daily was saying up, weekly down.

My chart is showing me new things all the time recently.

Baby bath time, got to go
Come with me if you want to live....
  • #334,951
  • Jan 30, 2013 3:10am Jan 30, 2013 3:10am
Quoting Ill-b-back
No idea.

To me daily was saying up, weekly down.

My chart is showing me new things all the time recently.

Baby bath time, got to go

buy at 30. tp 63
maybe long not bad idea
  • #334,952
  • Jan 30, 2013 3:11am Jan 30, 2013 3:11am
Quoting Ill-b-back
No idea.

To me daily was saying up, weekly down.

My chart is showing me new things all the time recently.

Baby bath time, got to go

oh dear happy bath time then
Loosening is not an option
  • #334,953
  • Jan 30, 2013 3:20am Jan 30, 2013 3:20am
Quoting Vilkas
oh dear happy bath time then
I actually shorted @ 5744 or so, but have no idea how it will go.
Stop above yesterday's high, looking to take out the low

Just being 100 percent mechanical
Come with me if you want to live....
  • #334,954
  • Jan 30, 2013 3:24am Jan 30, 2013 3:24am
Quoting Vilkas
do we have long @30?
  • #334,955
  • Jan 30, 2013 3:55am Jan 30, 2013 3:55am
Quoting CasperTrader
added @ 50
Loosening is not an option
  • #334,956
  • Jan 30, 2013 4:02am Jan 30, 2013 4:02am
Quoting _BBKing_
i'm still laughing on this video
http://www.youtube.com/watch?v=zd7c5tQCs1I
That's the funniest video I've seen in a while...
Gone to a better place
  • #334,957
  • Jan 30, 2013 4:09am Jan 30, 2013 4:09am
Quoting nAVIN2007
ya sick puppy
Just comment about g/u
I was long last week@5770 but my weekly close under it so no long for me
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 24 KB
  • #334,958
  • Jan 30, 2013 4:20am Jan 30, 2013 4:20am
Quoting CasperTrader
Shorting again. SL above the gap. Volatility before major news is good for scalping.
  • #334,959
  • Jan 30, 2013 4:21am Jan 30, 2013 4:21am
Potentially looking to break higher. US figures later tonight, so may have an impact if things deviate too much from expectations.
  • #334,960
  • Jan 30, 2013 4:27am Jan 30, 2013 4:27am
If anyone's interested, EG approaching a major weekly trendline. But the uptrend is strong, so be careful.
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