Cable Update (GBPUSD)

GBP/AUD looks to have the best GBP short setup. Still room for a 200 point move down and has touched strong resistance on the weekly TF. If it climbs higher early next week then a chance to enter on this.

The Daily is still Long, the H4 is on a pull back. At the bottom of that pullback, I would stay long and see where it takes you.............

ADX is showing NO power on this drop, it will likely be short lived and turn long again..................

Cable_My five charts' worth_07.12.13

Dollar_My three charts' worth_07.12.13

It's not looking convincing for any moves, either way, to me. And so I would not be surprised to see PA potter along the 0 FE mark.

for me GBPUSD is still bullish for at least next week. beware the bearish bias.

the fundamental data said that the inflation will be rise so the most probably GU still going up until it found decent resistance.

Two week ago GU broke the upper tl of triangle and last week it tested the tl again and failed to break . So there is possibility of strong bull run if it remain higher from 1.6280 or can't break the tl confidently from upside.

Hey guys, what do you think of this short setup?

Hi Fxlover11

Are you able to post the CCI divergence indicator that is on your chart on the last post.

Thanks

Howzit GU

GU 1H
The intraday punters will be interested in the following chart. Cable has been technically very reactive if you were on top of your technical game. The NFP theme has left us with a weakening dollar, so I would bias the upside trade.



GU 4H



GU Daily



GU Weekly



GU Monthly

Hi shripsfx,
Yes of course.




Thanks.

I like your chart, but will not be convinced of a concerted move north until at least the weekly candle - which this week just popped through the 61.8 FE - displays a stronger drive north. If so, and price falls back onto, and finds support on the 61.8 FE, then I may take a long. The target being the 1.69/1.70 region.

Dollar's current position is somewhat mixed to me, with, from my analysis, it being happy to remain in suspended intention. I would favour a drop - which would boost Cabe - but only because this suits the FED, which in turn suits the US state as they compete to reach the bottom of value first... whilst keeping inflation stationary at home, but producing a cheaper dollar abroad in order to help with US exports, and also burning up the value of dollar debt held abroad. Specifically, China. Whose actions, incidentally, seem to support my assertion regarding a devalued Dollar, as China has diversified away from the Dollar into a basket of currencies. Most notably, the Euro... I read somewhere that this year some 75% of all foreign exchange purchases by China were in Euro. Not sure how accurate that figure is.

We also have the gradual increase in the value of the Remimbi to bear in mind; when considered against its growing value towards the Dollar, and thus reduction of debt that the US owes to China without having to do too much to achieve this favoured result.... the constant complaints from the US about the peg that China chooses to use to hang on to the Dollar, revealing how much the US would like to the value of the Dollar to drop.

Returning to Cable, I am neither bullish, nor bearish, at present. Indeed, I'm actually somewhat befuddled with what may transpire for the last week or so of institutional trading... but that may be more due to the gin and tonics being supped today. Who knows?

With holidays around the corner for big money, and book balancing to be completed, any shifts in price will, I feel, have been priced in even more so than is usual, and so any shifts will probably be due to those investors ignoring ‘gentlemen’s’ agreements for year-end plays. Such bad manners will come as even more of a surprise to us retailers, who are not privy to top tier money flow information. The consequence to such swings being even more detrimental to many a retailer's market position.

I would say that it will be wise to trade the close to the year with due diligence.

Indeed Sir



Trade Well!

Gidday GBP/US

I loaded up to early so any move up is good

Long from 162.5 165 + 168

Just waiting to see if the EUR/US is going to retrace

that is creeping up also:nerd:

GBP/USD -9 pip gap so far
EUR/USD +10 pip
USD/CAD -10 pip
USD/CHF gone nowhere
AUD/USD +28 pips

USD is everywhere!!
Yeah the weekend gap right after NFP....
Not too many major datas coming up this week but many FED talks. Might give us more clear direction this week. Shoot up or crash down sometime soon..

Looks like USD/JPY is going to be above 103 at the opening..
EUR looking very strong... E/J +30 pip gap

This is all crazy. I know some people love volatility but I think I'm off until fed tapers and everything is more-or-less settled. Good luck everyone

Thanks for the video.

Karma for you

unfortunately, i still see bears coming on both cable and fiber..

taking my chances.. test position short 6340, SL just above 6400..

market is ranging

GU H4 GMT+3

If it could close above the upper line of the flag 2.5 hours later it would be the time to add more longs targetting the next resistance level ~ 6417...

Good luck!

almost approaching my SL, won't do anything (will not add to a losing position).. will just monitor