Cable Update (GBPUSD)

Quoting A-speculator

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well, as for cable i think the resisitance is at about 5350.. which is where the price currently at.. i'm slightly bearish in the short term and i think we might cover last week's gain this week.. but this is just a speculation judging on quite a reaction we got from last week's high.. i mean i see quite a number of seller when price reach that price. anyway, might take days to confirm this.. let's see.. fiber on the other hand should trading sustainably below 3000.. if we can get that, then perhaps we might see cable going down following fiber...

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Quoting Maso

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I can see that all majors are waiting for Wednesday's FED statement.

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Quoting A-speculator

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well, as for cable i think the resisitance is at about 5350.. which is where the price currently at.. i'm slightly bearish in the short term and i think we might cover last week's gain this week.. but this is just a speculation judging on quite a reaction we got from last week's high.. i mean i see quite a number of seller when price reach that price. anyway, might take days to confirm this.. let's see.. fiber on the other hand should trading sustainably below 3000.. if we can get that, then perhaps we might see cable going down following fiber...

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Quoting inpatient

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Hi A spec, out of curiousity why do you see fiber lower this week? Im not disagreeing with you and its actually what I want since im holding shorts. Just maybe looking for some comfort to help me sleep better tonight (I always miss the London open since im West coast USA) Thanks,

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Quoting A-speculator

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too soon to say that mate, i'm not saying fiber will go lower, i'm saying that there is a possibility for the price to cover its last week's gain as if you see in weekly, price might consolidate where the bottom of the consolidation is the low of last week's which is about 2750. my point is this, i think it's almost impossible for the price to break 3000 in one push, we see that even in large volume, price unable to break 3000 easily so price is like a rubberband, if it's unable to break the first time, it will go down again, find fresh volume and...

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Quoting inpatient

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Do you believe we will see some change in sentiment given that the ECB have signaled the potential of a rate cut whilst the FED are likely to signal either a tapering off or an end to QE3?

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Quoting Davit

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Hi fellow traders To me price is "due" for a correction at least to 38.2 at 5236 roughly 100pips down.Its stalled on narrow range since open but selling pressure is building up. {image}

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Quoting Davit

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Hi fellow traders To me price is "due" for a correction at least to 38.2 at 5236 roughly 100pips down.Its stalled on narrow range since open but selling pressure is building up. {image}

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Quoting A-speculator

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agreed on that, i have my eyes at 5250-60..

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Quoting alterchristo

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into prev consensus area? or stay on current consensus area's range? {image}

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Quoting Davit

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nothing is certain until London opens.Asian secession could be misleading lots of false breakouts and if you enter short on lower number and London decides on opposite direction you'll find yourself in the red before the week even started. Wait and it will become clear. Price is in the lower box. On h1 it is touching 20EMA {image}

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Quoting alterchristo

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into prev consensus area? or stay on current consensus area's range? {image}

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