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Cable Update (GBPUSD)

  • #348,321
  • Oct 8, 2013 4:48am Oct 8, 2013 4:48am
http://www.forexfactory.com/news.php?do=news&id=451419

Easily found on index FF
  • #348,322
  • Oct 8, 2013 4:48am Oct 8, 2013 4:48am
what happened!!
  • #348,323
  • Oct 8, 2013 4:48am Oct 8, 2013 4:48am
damn, missed my TP by few points...
  • #348,324
  • Oct 8, 2013 4:49am Oct 8, 2013 4:49am
Quoting ArekJP
damn, missed my TP by few points...
dont worry we coming
  • #348,325
  • Oct 8, 2013 4:50am Oct 8, 2013 4:50am
Quoting Robertk
http://www.forexfactory.com/news.php?do=news&id=451419 Easily found on index FF
Thanks.
  • #348,326
  • Oct 8, 2013 4:52am Oct 8, 2013 4:52am
Quoting nAVIN2007
{quote} dont worry we coming
I still believe we gone see 1.60 level tested today…
  • #348,327
  • Oct 8, 2013 4:56am Oct 8, 2013 4:56am
Pure example of volaility
  • #348,328
  • Oct 8, 2013 4:56am Oct 8, 2013 4:56am
Well my TP was missed by 1pip, and of course now way to manually close 'cause broker will re-quote you forever. I will patiently wait for it to drop back again, hopefully today or this week.
  • #348,329
  • Oct 8, 2013 4:57am Oct 8, 2013 4:57am
Quoting ArekJP
{quote} I still believe we gone see 1.60 level tested today…
" I still believe" this is a very bad for this business
Read the entire market, money is made on the main trend not the fluctuation
  • #348,330
  • Oct 8, 2013 4:58am Oct 8, 2013 4:58am
Basically the head of the BCC said when fantasizing about the UK's economic recovery let's not prematurely ejaculate and the cable spikes down 50 pips in 3 nanoseconds.
Pride always comes before destruction.... -Proverbs 16:18
  • #348,331
  • Oct 8, 2013 5:06am Oct 8, 2013 5:06am
Quoting Robertk
http://www.forexfactory.com/news.php?do=news&id=451419 Easily found on index FF
This is the correct link to the price spike where the BoE will announce a new long term variable rate repo operation tomorrow. It will be similar to the ECB LTRO and maybe it will be used as a balance sheet booster by banks as they are still fragile or it could aid the flow of liquidity in place of QE.

We will have to wait until tomorrow to see what they mean and what they will be implementing, but the initial drop was because it was seen as a form of QE lite...

The other CNBC article posted on here is old news and certainly not the cause of this price spike!
  • #348,332
  • Oct 8, 2013 5:08am Oct 8, 2013 5:08am
1h candle formed a hammer but its below the daily pivot point.
are we going up or down???
  • #348,333
  • Oct 8, 2013 5:11am Oct 8, 2013 5:11am
Quoting zoomfire
1h candle formed a hammer but its below the daily pivot point. are we going up or down???
or sideways until BoE reveal what they are intending... my bet is that it will soften GBP although the market has a funny way of absorbing news and doing the opposite
  • #348,334
  • Oct 8, 2013 5:12am Oct 8, 2013 5:12am
... knee-jerk quick move down to 85.4% 6005-6099 on that un-scheduled news...quick bounce back up though from there resulting in long wicked rejection candle closes on 10min, 30min and 1hr...1hr/4hr mixed now re opa...

G/L
ex member
  • #348,335
  • Oct 8, 2013 5:20am Oct 8, 2013 5:20am
Quoting bbakker
{quote} or sideways until BoE reveal what they are intending... my bet is that it will soften GBP although the market has a funny way of absorbing news and doing the opposite
Looks like this was planned all along and this BoE LTRO thing is just misreporting of a routine repo operation. Market briefly foxed by misleading headline and HFT algos and market makers making the most out of it.

So... nothing to see and back to business as usual... LOL
  • #348,336
  • Oct 8, 2013 5:36am Oct 8, 2013 5:36am
price doesnt want to be held down, wants higher so above 1.61 is likely
  • #348,337
  • Oct 8, 2013 5:49am Oct 8, 2013 5:49am
all but closed the opening gap up from Friday close - Monday open and a strong bounce up from the current daily lo that did that...potential near-term upside obstacles per the 1hr chart below

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: z.jpg Size: 133 KB
ex member
  • #348,338
  • Oct 8, 2013 5:54am Oct 8, 2013 5:54am
Only 20pips to SL... Still TP1 1.6140; TP2 1.6160, SL corrected to 1.6045.
  • #348,339
  • Oct 8, 2013 5:54am Oct 8, 2013 5:54am
To me, the top seems to be in place. Short at the break of daily bar
Attached Image
  • #348,340
  • Oct 8, 2013 6:02am Oct 8, 2013 6:02am
Quoting shripsfx
price doesnt want to be held down, wants higher so above 1.61 is likely
1.6165 is my target...
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