Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#338,021
Apr 1, 2013 10:21am Apr 1, 2013 10:21am

rikusks
| Joined Oct 2012 | Status: Trader | 70 Posts

I'm looking at a strong resistance @ 1.5240-60 level too, especially it's a strong support previously would meant a strong resistance level for all. GBPUSD downtrend doesn't seems to end yet, (Not that i see a divergence in MACD and RSI as yet). Would place a SL at 1.5340 in return for 1.4860 TP.

U.K doesn't seem to have a smooth and nice recovery as yet, given so many problem in the euro.

Knowledge is powerful tool that we can ever have.

#338,022
Apr 1, 2013 11:06am Apr 1, 2013 11:06am

A-speculator
Joined May 2009 | Status: Trader | 4,895 Posts

well, well, well.. enough retracement already?

will look more into it later.. thin volume and price push up eh (and hit my SL in the process).. alright then will see u guys later, when volume is there..

green pips y'all.

#338,023
Apr 1, 2013 11:20am Apr 1, 2013 11:20am

FXMindset
| Membership Revoked | Joined Aug 2011 | 7,263 Posts

Seem that we are getting there..

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If there was easy money lying around,no one would be forcing it into your

#338,024
Apr 1, 2013 11:23am Apr 1, 2013 11:23am

5percent
Joined May 2012 | Status: I'm Pawning 95Percent | 1,407 Posts

Quoting FXMindset

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Seem that we are getting there.. {image}

Ignored

ye, but thin volume of trading. And tmr is UK's PMI which will determine its fate likely. Meanwhile 1.5240/58 still provide further obstacles. The Burst seems not strong enough. As long it maintained above 1.5218/25 to NY closing, the bull stands stronger chance.

#338,025
Apr 1, 2013 11:39am Apr 1, 2013 11:39am

FXMindset
| Membership Revoked | Joined Aug 2011 | 7,263 Posts

Quoting 5percent

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ye, but thin volume of trading. And tmr is UK's PMI which will determine its fate likely. Meanwhile 1.5240/58 still provide further obstacles. The Burst seems not strong enough. As long it maintained above 1.5218/25 to NY closing, the bull stands stronger chance.

Ignored

Yes,u know what am looking for,Hope u are well with family there

If there was easy money lying around,no one would be forcing it into your

#338,026
Apr 1, 2013 11:52am Apr 1, 2013 11:52am

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

I dont think thin vol pushed up ,but agree at res attached is vol candle pic
low vol now
also cable in top 4 on vol ,check pro real time vol column
I dont use but

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#338,027
Apr 1, 2013 1:07pm Apr 1, 2013 1:07pm

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

Quoting inpatient

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Agreed, news may have given us just what we need for selling opportunity

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#338,028
Apr 1, 2013 2:47pm Apr 1, 2013 2:47pm

Pip Anon
Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts

I think the current move's life all hinges on GBP data. If it is positive, think we are higher. Although, I believe this move today was largely in part by dollar selling. The move itself is fading a good bit. We may see the Asian session buy up the dollar, sell the yen a little bit. Nikkei down 300+ pts.

On the 333TK chart it looks like a flag pattern, as cable is trading within a range since making it's high. I would love to see some downside if it breaks lower out of the range and past support/prior resistance.

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When the facts change I change my mind, what do you do sir

#338,029
Edited 3:17pm Apr 1, 2013 3:06pm | Edited 3:17pm

fontu
Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts

Quoting fontu

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5220 resistance acting on , ok to see limits up immediately at 5193 & next 5178 , if then all down levels in the morning shows . lets move or pull another small leg up towards 5220,25/26 OK for the same to watch perhaps . important next 5258 though but not hope yet . and where ever up, target is down for me now short term . fontu {image}

Ignored

One leg up continues , so next 5258 to 5300/5317 + to end perhaps . next day to watch before positive action in favor.possible waves 5228> 5258+ /5275 > 5220> last leg up small 5300/17+ .
fontu

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Not understand?better not follow my analyses!doubt clearer first, risks ++

#338,030
Apr 1, 2013 3:23pm Apr 1, 2013 3:23pm

inpatient
| Joined Dec 2011 | Status: Rags to riches | 1,316 Posts

Quoting Pip Anon

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I think the current move's life all hinges on GBP data. If it is positive, think we are higher. Although, I believe this move today was largely in part by dollar selling. The move itself is fading a good bit. We may see the Asian session buy up the dollar,

Ignored

To be expected IMO, agree with all of this

Money never sleeps...

#338,031
Apr 1, 2013 3:24pm Apr 1, 2013 3:24pm

inpatient
| Joined Dec 2011 | Status: Rags to riches | 1,316 Posts

Quoting Bones

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{image}

Ignored

I just think we were going nowhere and needed a push up to give us a bigger push down.

I think the news this week will be crucial but would expect to be back down a little by the time London opens tomorrow

Money never sleeps...

#338,032
Apr 1, 2013 3:30pm Apr 1, 2013 3:30pm

Pip Anon
Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts

Quoting inpatient

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To be expected IMO, agree with all of this

Ignored

we should see a higher dollar with the BOJ this week signaling aggressive monetary action and possible JGB purchases. Maybe see a much lower yen, higher dollar. I think it's safe to say, facing a triple dip recession, GBP is not up on fundies. It's been down a bit, but has retraced a good deal. EMA RSI nearing 70 on the daily.

When the facts change I change my mind, what do you do sir

#338,033
Apr 1, 2013 3:37pm Apr 1, 2013 3:37pm

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

Hey I
I really dont think $ is bullish right now ,I have a few charts that say not ,
$ has broke trendline and if it breaks last weeks candle I will be very confident of target

Quoting inpatient

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I just think we were going nowhere and needed a push up to give us a bigger push down. I think the news this week will be crucial but would expect to be back down a little by the time London opens tomorrow

Ignored

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#338,034
Apr 1, 2013 3:55pm Apr 1, 2013 3:55pm

inpatient
| Joined Dec 2011 | Status: Rags to riches | 1,316 Posts

Quoting Bones

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Hey I I really dont think $ is bullish right now ,I have a few charts that say not , $ has broke trendline and if it breaks last weeks candle I will be very confident of target {image}

Ignored

Yes for sure if we break last weeks candle and start setting new highs. However, with much Data showing a drop in Volume from the middle of march (start of correction) to now I have to ask if we have lost Bullish momentum somewhat. If we couldn't find our way higher last week I don't see what can push us higher this week (other than news)

Money never sleeps...

#338,035
Apr 1, 2013 4:11pm Apr 1, 2013 4:11pm

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts

The main reason I will be confident is that last weeks candle would make you think bullish ,off tl ,that it is not real if broke to downside
lots not real in trading lots and lots haha
,maybe cable is not bullish ,not monthly bullish hammer ,wick is 331 pips not huge considering fall ,but market condition ,
tho we broke box/trendline down still within lots of traffic
gbp is a difficult read ,but not on the gbp lfx monthly I dont think

On-site guru & also FF member's' psychiatrist, when not drinking tea

#338,036
Apr 1, 2013 4:23pm Apr 1, 2013 4:23pm

inpatient
| Joined Dec 2011 | Status: Rags to riches | 1,316 Posts

Quoting Bones

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lots of traffic gbp is a difficult read

Ignored

Very true and it seems sentiment is 50/50 right now hence the deep discussion on FF and even amongst some more senior and respected members (such as your fine self).

Dollar Index bounced from a similar level to here on the 25th of March and this all has me regularly looking back at 2010 (last time we were here)and giving me more of a bearish feel. If the BOE add the much discussed 25B and signal any further change in inflation tolerance then its all she wrote for the pound and it will for sure be 2010 all over again.

BOE want to see a weaker pound no doubt and this rally since the last meeting will have them potentially looking at a way to send the pound lower to boost exports and limit foreign travelling throughout the summer so more people find a vacation in the UK. Statements last month (referring to the pound now being of decent value was aimed at slowing the slide but I don't think 1.55 is where they wanna be).

Money never sleeps...