Cable Update (GBPUSD)

Quoting Robby

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As far as dollar being replaced as the reserve currency. When the US is not the biggest in the group money wise then the reserve currency will go away at that time! Until then it will not. You want to hold the money of your biggest buyer. Currently it is the US before it was England. Who it will be next, no one really knows!{quote}

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Quoting fontu

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trying another leg up but this time not that strong with every force & already have short at top now to see . expected a big wick at daily candle top today & so at least 5546 ( most important breaks for bear ) & 24/6 ( close 5531 welcome too, like below it though ) broken today if so to see next day turmoils .Next crazy support 5517 & 5343 before the breakdown when will do. eu already but gold not broken 1439 , so to watch actions over before breaks or so or next short action . fontu {image} {image}

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Quoting Likerty

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Looks like turning for a deeper retrace.. But with all euro jittery it may jump one more time to produce a real bastard's crown on the top before retreating.. In 5570's nice spot to short for 5400 risking highs.

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Quoting Likerty

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Looks like turning for a deeper retrace.. But with all euro jittery it may jump one more time to produce a real bastard's crown on the top before retreating.. In 5570's nice spot to short for 5400 risking highs. 1.5620/30's is good to target 5360's or even below 1.4830...

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Quoting Robby

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I think you could have a good bounce around 1.50 area back up around 1.53-54 area before we see sub 1.48 area...my view{quote}

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Quoting nAVIN2007

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{quote} based on what?

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Quoting Robby

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Why a bounce? History...go look at previous times when price has moved through that area and failed see what happens after the fail{quote}

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Quoting nAVIN2007

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{quote} fair enough..but if it falls from here i reckon we will make a new low, which i wont look forward too

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Quoting baherhosni

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all of the above are probable moves.. are there any other scenarios that was not mentioned yet? anyone? however, as my post yesterday states, if 5600 fails then 620 to 30 is the next frontier. again, there are too many levels of significant support below where we are now. add to that the fact that the market, especially, retail traders are now fixated on long so bulls are sharpening their horns if it does start going down and will make use of this bias at every level. it is up to the economics and politics now to align the small fish with their...

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Quoting baherhosni

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{quote} hope FXMindset doesn't call me a muppet for this post! cheers

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Quoting Trader88q

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they will not stop until they do all of us by getting SL. Then somewhere in 5650 they will stop push it higher. i am shorting it and closing shorting and closing in small profits cause it makes me nervious. Technically we should go to 5430 in long term but sentimentally not fundamentally it has strong interest to go higher. why? just dont know. UK fundamentals better but not so strong. US fundamentals stable. Fundamentally - weak long Technically - strong short Sentimentally - long 2:1 Long when we will be tired of that fight and will change...

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Quoting Robby

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Well they are going to try to make you close your shorts! For me they haft to get above 1.65 before I will even consider closing my shorts!{quote}

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Quoting Trader88q

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Waiting Draghi But really i dont get the relation. Cause this year euro go in oposite direction with pound.

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Quoting Robby

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That is mostly because money has been moving out of the euro. Yes their are spikes in the GBP that knock out the stops. But that is why I have 1000 tick stop. So the markets really haft to have a very big move before my stop will get active. 100 tick moves are the big guys clearing out the people / companies they do not want to follow. You will notice stop cleaning happens after the stops going in one direction and the cleaning gets bigger and bigger as the next move approaches!{quote}

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Quoting nAVIN2007

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{quote} none of the scenero is important just pick one and have a descent risk rewards, play the edge, remove the thinking nobody is god knowing..u just have to believe u will make money..this will drive yur equity balance any1 call u a muppet :- they will be the muppet kurmet

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Quoting nAVIN2007

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{quote} word of warning to u ..cable will strengthen USD news has been getting better..money is moving out of currency (considered risk) to more safe investment, stocks..this is why euro is strengthening, also pound is entering summer ..people get happy spend more..if the break south is false, make no mistake the mofo will break the topside 1.63 will likely be challenged and perhaps break 1.7 will be on im only saying this to u because im trading the break to the top side..

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