Cable Update (GBPUSD)

g/j possible sell , broken trend line ma20 and ma60 on 5 min chart

Hi and Welcome to the Forums.. we should not break 1.6125, you can say its the 'beginning of the downtrend as long as it does not break 1.6125 ..

added -8, -4@ 6084, -4 @ 5984

CAVG: 84% total allocation at @ 1.6177
Stop: 1.6127 (locked 50 ticks or +15% relative to used margin)
target: 1.5075

TP

Will wait for more action down in the scalping still holding previously , gu reach 5885 & 5750 play to down 5336 areas if then .
eu for 3466/51 plays with breaks if to 1.3300.
gold for 1278/73 play to breaks for the bottom if .
euraud 1.4192 breaks for 1.3800 to 3190 play if .
gbpaud 1.6802 breaks to 1.6145 breaks play to 1.5885 & 1.6673.

Even audusd breaks for 0.9388 to breaks 0.9281!!

fontu

Charts all old should do !http://www.forexfactory.com/showthre...91#post7014991

This is typical fluctuation.
Real move is south.By the end of month I anticipate 1.55
My conviction is based upon fundamentals that is greatest trading partner to GB is Euro Zone and they are in rescission until 2017.
German manufacturing is down.Despite of rosy projection in Sept I see Pound going as low as 1.50.
Historically pound performs best in Sept then goes down after that.
Furthermore common sense dictate that no economy can "recover" without having partners which are recovering as well.Its basic economics.If China,US,Euro Zone,Japan are in economical downtime how is it GB pulling out ahead alone..Who are you selling to?Who is buying.
This is why I am distrustful of Carney manipulating articles in papers and fuzzy data.
In simple Terms if US is down everyone else that matter is down as well.US sets the tone.

German Factory Orders Unexpectedly Fall on Weak Recovery
While Europe’s largest economy is being supported by an “extraordinarily good” consumer climate, growth slowed in the third quarter, the Bundesbank said last month. Headwinds include near-record unemployment in the 17-nation euro area, Germany’s biggest trading partner, and a U.S. government shutdown.
“Fundamentally it is going to be a slow recovery even if Germany benefits a bit more than others from global trade,” said Aline Schuiling, an economist at ABN Amro Bank NV in Amsterdam. “While there may be bumps in the road from things like the U.S. government shutdown, it’s not going to derail the economy. We’re heading toward an acceleration in global growth in the second half of this year.”

"
“We don’t expect a lot of growth, if any at all in western Europe” by 2017, Kasper Rorsted said in an interview with Bloomberg TV at the company’s headquarters in Dusseldorf, Germany. “Europe overall in the next four years will have quite a challenging position.”
Draghi also warned that the U.S., the world’s biggest economy, has the potential to derail the global recovery. Treasury Secretary Jacob J. Lew says that in 9 days the nation will exhaust measures to avoid breaching a ceiling on its debt unless government and House Republicans reach an agreement. That’s an event that could trigger a default if no deal is reached."

hey Davit, each ccy pair is relative value trade.... once ccy vs other.. so what matters is which one is better off than other.. each can be in an economic depression on its own..

like you pointed out "If China,US,Euro Zone,Japan are in economical downtime how is it GB pulling out ahead alone"

what this statement means to me is buy gbp vs yuan, euro. dollar, yen..

UK is not a big exporter or manufactured goods, its main industry is service especially Financial Services which can be countercyclical at times and much more correlated to developing markets too..

from what u said juts now then why is CHF strengthening? its major economy is manufacturing exports and major partner Euro area. its because when everyone is shit, u look for something which is least shit...

7:00 EST news most likely lifts the pound. I have seen this many many times.

Good Morning !
Today's S/R Levels on MT4 Templates

EURO
CABLE
AUDUSD
EURJPY
S&P500
GOLD
And Euro template from 04-02-13 euro

http://www.forexfactory.com/showthre...86#post7017186

I don't know if you noticed lately.It seems market already "knows" the news outcome before it even comes out.Selling or buying hours before data release matched with data outcome suggesting leaks.
So far Market is not really buying.

Great post

Yes I have noticed that. Also I agree with market not buying as of now. Next support is 1.588x but needs to break todays low fast

GBPUSD

The pair may test the level 1.60690 as the than pound price will start bullish movement. Then I suppose it is good idea to buy to the target 1.61170. And stop loss in this case will be 1.60370.

I understand. That is ok. Sometimes we need to play the long con!

Hi All,

What do you think about BOE Interest Rate Decision?Go long or short?

It will probably have no effect at all.

consolidation is the next best thing which it appear to be doing..i just dont like the the last 4hrs

Ive got my most recent short at BE. Will probably get stopped out.

short-term play from here does appear to favor long

What do UK traders use for news on TV. BBC? Is there a UK version of CNBC that covers the financial markets?

It shouldn’t have any major impact, rates won’t change, if anything MPC may have more impact.