Cable Update (GBPUSD)

Looks like another ranging day. I know we have NFP later but still this should be in a range.

Morning , present chart as per before .
fontu

Anybody get in on that trade earlier today? Cable really taking a dump the last two hours.

I feel that the market sentiment for this pair is short right now. But 1.5 support line is just 100pips away.
With King's speech coming up in 100mins or so, do you guys think this pair will fall another 100pips and break the 1.5 support line???

T!

Yep, giving it a good shake

nice trade!

Thx, shame they weren't much bigger

Yep, I know how that feels. But a little profit is way better noting at all. Or worse, a loosing trade. Right?

Hello
here's my view about GBP USD

also you can find about EU - Ucad - Uj

Not much happen in London section with 60 pips plus ranging.

The market seems tire with the bears, even after BOE King speech.

If she could not go south, where does she move? a nice shot 100 pips North would make a nice day.

If there are two more 30' bearish candles follow, the jump back north is quite possibly.

Good day to all here

Have you seen the monthly candle?

Last month huge rush down. Weekly showing a double wick bounce. Yesterday's daily showing pinbar off 10 EMA. Current daily candle that's open is trading below yesterdays lows. Bears are in firm control.

Is there any rooms for a rate cut by BOE tomorrow?

more probably they will increase QE! maybe not tomorrow but very soon!
if i'm not wrong it already came out as official intention...

vote buy gbpusd

http://my.jetscreenshot.com/6252/m_2...-s0vr-82kb.jpg

I think price will hit 1.500 area before shooting up just my opinion

Yep. I'm right.

Today seems to be a trending day. Look at these 1HR candles. Bunch of green ones in a row and then a bunch of red ones in a row. I wouldn't call that range or chop.

ADP Non-Farm Employment Change. Actual > Forecast = good for the USD, so i closed my long for EURUSD.... then USDCAD dropping, EURUSD going up and CABLE refuse to go down more... wtf.

Can someone explain?

My only explanation is market sometimes dont react to good news, but it does react to bad news.

now it is moving to where i predicted it. only a 3 hour delay.

Hello all,
the Dollar Index is the King and it's good to analyze where/when it could top-out. This is my latest analysis for it, which could be useful to trade all the major currencies trading against USD.

The Dollar Index could be very close to a reversal. On the daily chart, the sequence of measured moves higher, which was currently trading in extensions long, failed with price moving below 82 (I had indicated that level in the free weekly Newsletter). That failure, along with the traditional long that offered support yesterday and today (see scenario 1 below) is pointing to highs at 82.78-85 or slightly higher.

http://www.forexfactory.com/attachme...1&d=1362580767

Following are the two scenarios I was able to identify. I think the second scenario has less probability to take place:

Scenario 1. After failing the sequence of measured moves higher, with price moving below the 82 level, the Dollar Index found support in the same area. The 81.90 level held indicating a target in the 82.78 level. This is very close to the 82.84 first target of the failed extension long (Busted setup pattern). So I anticipate price moving into the 82.70-90 and then a swift move lower due to profit taking.

Scenario 2. There is still a possibility for price to continue higher, but that would mean that the Euro-Dollar could not find participation at the 1.2900 area.

Let me know your thoughts.
Thank you
Have a great day
G.