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Cable Update (GBPUSD)

  • #344,661
  • Edited 8:20am Aug 5, 2013 3:18am | Edited 8:20am
Monday ranging going on & perhaps , daily/lower, Weekly along with monthly ranging /swing already becoming more evident . anyway , this week to give more signal if any decision or the swing to carry out with more time pass around here or break down to crush soon avoiding great crush further ( if real this big diamond actually develop & burst!!devastation action down than now ) , all over FED rattlings recently perhaps but fed either to hold firm or to slip to the greatest recession next . Decide there too for US economy !!
gbp may only to take more advantages of these ranging & not for long time before aud take the chair as thought before , audusd approaching near target 0.8450-0.8081. gbpaud should be approaching near end of a wave soon .
That is except gbp others should be ready down with pa on ease .
lets see
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #344,662
  • Aug 5, 2013 3:23am Aug 5, 2013 3:23am
Quoting Lucky_FX
Opened short @1.5375 (looks a good resistance in H4 chart) SL @ 1.5425 TP @ 1.5275
agree with u
  • #344,663
  • Aug 5, 2013 3:31am Aug 5, 2013 3:31am
So, buy the rumour-buy the fact this time round on that Uk services pmi - strongest print in years sees a knee-jerk upside react to the top of that previous 4hr swing lo zone (non immed) where supply has been encountered...4hr below shows this.

Uk's Boe's QIR later this week - all eyes on on the uber cool Carney and ' forward guidance' mentions and any noticeable change in tone/style from the recently departed Sir Merv of Swerv ...(I'll miss those cricketing metaphors [not] and the omni mentioned 'headwinds' ...by the way what do we give to those in high office that spectacularly miss their target for far more times than they achieved it - ie failed ! - yes that's right a knighthood and fecking big pension...ie we reward failure - moral hazard anyone oops !)

G/L
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ex member
  • #344,664
  • Aug 5, 2013 3:51am Aug 5, 2013 3:51am
Quoting Lucky_FX
Opened short @1.5375 (looks a good resistance in H4 chart) SL @ 1.5425 TP @ 1.5275
We are going to test late July's high at 1.5430 as it broke 1.5310
  • #344,665
  • Aug 5, 2013 4:07am Aug 5, 2013 4:07am
Quoting Purple
{quote} We are going to test late July's high at 1.5430 as it broke 1.5310
Under what circumstances? Tonight's US data -- if bad then can only test that high, but if it favors US, then perhaps it may close today with a doji
  • #344,666
  • Aug 5, 2013 4:14am Aug 5, 2013 4:14am
Quoting Lucky_FX
{quote} Under what circumstances? Tonight's US data -- if bad then can only test that high, but if it favors US, then perhaps it may close today with a doji
The truth is no one knows for sure what will happen to even the next tick of price- all we have is our own analysis/edge and whether that tells us what the greater probability is (whether or not the greater probability plays out) - and what the risks are to that greater probability playing out.

G/L
ex member
  • #344,667
  • Aug 5, 2013 4:31am Aug 5, 2013 4:31am
Quoting Lucky_FX
{quote} Under what circumstances? Tonight's US data -- if bad then can only test that high, but if it favors US, then perhaps it may close today with a doji
Under present circumstances..

The PMI was positive for GBP, NY session will follow through on the bull run in GBP even if ISM is neutral, or till the runup tp ISM..
  • #344,668
  • Aug 5, 2013 4:34am Aug 5, 2013 4:34am
Quoting Purple
{quote} Under present circumstances.. The PMI was positive for GBP, NY session will follow through on the bull run in GBP even if ISM is neutral, or till the runup tp ISM..

It should be negative or neutral:

http://www.forexfactory.com/showthre...53#post6868853
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  • #344,669
  • Aug 5, 2013 5:39am Aug 5, 2013 5:39am
Clear USD Bullish at the moment , across all pairs. is the consensus good for usd news today ?
  • #344,670
  • Aug 5, 2013 6:05am Aug 5, 2013 6:05am
that might not be the case,
this news should be on par / below expectations

1) usd bulls right now / news in 1 hr -> if it comes below forecast it would be very bad for usd bulls / a good trap

2) usd bulls right now / because big players already started pricing the good news

fridays us news was plain bad, disappointing. ism non-manu pmi shouldn't impact the market more than friday news?

maybe eur weakness / gbp strength / usd strength (?)
  • #344,671
  • Aug 5, 2013 7:42am Aug 5, 2013 7:42am
Quoting openyoureyes
that might not be the case, this news should be on par / below expectations 1) usd bulls right now / news in 1 hr -> if it comes below forecast it would be very bad for usd bulls / a good trap 2) usd bulls right now / because big players already started pricing the good news fridays us news was plain bad, disappointing. ism non-manu pmi shouldn't impact the market more than friday news? maybe eur weakness / gbp strength / usd strength (?)
did u think gbpusd will slide to 1.5300
  • #344,672
  • Aug 5, 2013 7:51am Aug 5, 2013 7:51am
Quoting forexer11
{quote} did u think gbpusd will slide to 1.5300

i think that it will rize up again cauze this is good score for US cable didnt dropp as much..its still hold/the direction still up

(anyway my op)

take care

Eitan.
when GOD brings you a challenge he also gives you the power to deal with it
  • #344,673
  • Aug 5, 2013 1:41pm Aug 5, 2013 1:41pm
From the 4hr chart, I see a potential bearish gartley harmonic pattern forming. This is not a really perfect gartley pattern, as the 61.8% is exceeded. If you are particular about preciseness, then probably this trade may not be suitable for you. However from my view, the markets are never perfect. It always overshoots and undershoots. I will take what the market shows and gives to me.

SHORT GBPUSD 1.5550-60
SL 30-40pips
TP1 1.5450
TP2 1.5250

http://i41.tinypic.com/smwrc5.png
  • #344,674
  • Aug 5, 2013 11:11pm Aug 5, 2013 11:11pm
Anyone else watching 5290 area for signs of bullish PA (just before) the news release?
Come with me if you want to live....
  • #344,675
  • Aug 5, 2013 11:29pm Aug 5, 2013 11:29pm
G/M,

Bullish bodied candle again yesterday...5376 the Hi - pullback from there to just shy of 50% 5257-5376 and some buy the dip demand but supply again hit at 5369 as the Hi was challenged.

Uk data at 0930am - will it surprise to the upside like recent Uk data ?

G/L
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ex member
  • #344,676
  • Aug 6, 2013 12:25am Aug 6, 2013 12:25am
Asian session bearish, early London trying to stage a rally off Asian lo..bearish so far today then - 1hr rangy ...possible bull flag forming ?

How strong are the bulls...will they be helped by upcoming Uk data ?

Time will tell

G/L
ex member
  • #344,677
  • Aug 6, 2013 12:59am Aug 6, 2013 12:59am
Big question re this pairing this week is how far Carney will clarify his ' forward guidance ' talk at the Boe QIR tomorrow at 1030am start London...expect some pressure on £ if he does is the perceived wisdom ?

G/L
ex member
  • #344,678
  • Aug 6, 2013 1:27am Aug 6, 2013 1:27am
challenging yesterday's hi zone now...orderly move up on 5min as each prev res became support

Data due

G/L
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ex member
  • #344,679
  • Aug 6, 2013 1:33am Aug 6, 2013 1:33am
looking for a sell option

I reckon we need a dip..
1.52..any lower not sure (too much stuff in the way, hard to forecast)
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  • #344,680
  • Aug 6, 2013 1:39am Aug 6, 2013 1:39am
anyone short this baby now?
In the end its just a stupid numbers game
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