Cable Update (GBPUSD) | Page 17821 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #356,401
  • Dec 18, 2013 10:28am Dec 18, 2013 10:28am
Yeah, I really thought we'd move sideways for the last eight hours.

I was 30 pips in the green before bed last night and sold for a profit. I figured there would be a lot of up and down before the FED.

Totally missed this move. Now I'm a sad monkey.
  • #356,402
  • Dec 18, 2013 10:40am Dec 18, 2013 10:40am
So whatever the FED comes up with in their little bag of tricks, I am looking for RISK AVERSE action going forward. The markets look out months in advance. If they don't "tighten" up, then know that it is in the cards. Time to pay The Piper. Movements in Risk Averse crosses have been broadcasting this for months now.

Tie yer boot straps up tight lads. We're goin' for a ride.
  • #356,403
  • Dec 18, 2013 10:45am Dec 18, 2013 10:45am
Quoting gstup
{quote} Yes,but don't forget this: "BOE says further $GBPUSD gains would weaken recovery.".
and don't forget that RBNZ's Wheeler was saying that a stronger Kiwi would have negative effects on the economy, and yet the Kiwi kept flying upwards immediately after his comments.

and don't forget that the French finance minister Moscovici has been screaming that the Euro is too high since it passed 1.30, and yet here we are knocking on heaven's door at 1.3830

In the end, unless there is clear and tangible intervention, yield seekers will keep buying up risky assets with free money from the Fed... until the Fed cuts them off... if ever.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,404
  • Dec 18, 2013 10:46am Dec 18, 2013 10:46am
Quoting ez0770
{quote} I agree, but what I find surprising is the strength and the size of this move on FOMC day. You would think that some uncertainty regarding the Fed would cap the rally to some extent and cause some profit taking along the way, but so far it's been one way up and a big range day...

You can see the size of price move below:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m30-fxpro-financial-services.png Size: 70 KB
The difference between gambling and speculating is risk management
  • #356,405
  • Dec 18, 2013 10:47am Dec 18, 2013 10:47am
Quoting ez0770
{quote} I agree, but what I find surprising is the strength and the size of this move on FOMC day. You would think that some uncertainty regarding the Fed would cap the rally to some extent and cause some profit taking along the way, but so far it's been one way up and a big range day...
Well, taper or not, if I thought that the BOE was likely to raise rates before the Fed, I'd be buying cable also.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,406
  • Dec 18, 2013 10:50am Dec 18, 2013 10:50am
Quoting PipTrapper
{quote} If this is manipulation, then it is manipulation of the econ data. Unemployment dropped to 7.4% from 7.6% prior, and avg earnings up 0.9% from 0.7% prior which was also revised up to 0.8% If those kinds of numbers don't produce a rally, nothing will.
Well, USD index is on Demand level for a week...even good data doesn't move it so I think it is artificial holding dollar low...I am not good in fundamentals so probably I am wrong but it is strange .....
There is a winner and a loser, nothing in between.
  • #356,407
  • Dec 18, 2013 10:54am Dec 18, 2013 10:54am
Quoting TauTrader
{quote} Is that why you were away so long?
i like that, no i was away because i barley trade gbp/usd, most of my trades are in gbp/nzd and eur/nzd, trust me these two pairs can move
  • #356,408
  • Dec 18, 2013 11:01am Dec 18, 2013 11:01am
For you guys is the link to where the FOMC stuff will be streamed:

http://www.ustream.tv/federalreserve

Just dont forget to put the belt before watching Bernanke.. Wish you all green pips!
The difference between gambling and speculating is risk management
  • #356,409
  • Dec 18, 2013 11:02am Dec 18, 2013 11:02am
Quoting buytosell
{quote} Well, USD index is on Demand level for a week...even good data doesn't move it so I think it is artificial holding dollar low...I am not good in fundamentals so probably I am wrong but it is strange .....
that is forex.
eur record high unemployment -- outperforming
usd numbers down to 7.0% signs of improvement and yet under performing.
it's not free markets anymore. It's fed market.
  • #356,410
  • Dec 18, 2013 11:04am Dec 18, 2013 11:04am
Quoting JimmyC
Just notes after Mr Carnage and before Ben strikes GU Daily Support held {image} GU 4H I had two choices here, the downtrend held and the H&S executed {image} GU 15 3 options triangle (flat bottom against trend) falling wedge bull flag {image} 2 up 1 down, given FOMC... I'm not keen on trading any. Tomorrow is a day with taper knowledge, will look then. G/L
Option 2
Attached Image (click to enlarge)
Click to Enlarge Name: GU15.png Size: 11 KB
  • #356,411
  • Dec 18, 2013 11:07am Dec 18, 2013 11:07am
Quoting Fx-gtg
{quote} that is forex. eur record high unemployment -- outperforming usd numbers down to 7.0% signs of improvement and yet under performing. it's not free markets anymore. It's fed market.
Means we could expect strange moves during and even after FOMC??? I think Bernanke will kill all forex accounts
The difference between gambling and speculating is risk management
  • #356,412
  • Dec 18, 2013 11:15am Dec 18, 2013 11:15am
And this is how i see the price move before FOMC!!
Attached Image (click to enlarge)
Click to Enlarge Name: the_grudge_by_missunfortunate-d4g10ss.jpg Size: 176 KB
The difference between gambling and speculating is risk management
  • #356,413
  • Dec 18, 2013 11:20am Dec 18, 2013 11:20am
Quoting Fx-gtg
{quote} that is forex. eur record high unemployment -- outperforming usd numbers down to 7.0% signs of improvement and yet under performing. it's not free markets anymore. It's fed market.
Those who say it cannot be done should not interrupt those who are doing it
  • #356,414
  • Dec 18, 2013 11:21am Dec 18, 2013 11:21am
If i could wish for the PA, i would get me healthy risk averse move BEFORE the announcment, and a BIGGER risk on move after.
So far, this is not playing out.

However, i am still positive that there will be no taper. But maybe some "scary" side remarks...
  • #356,415
  • Dec 18, 2013 11:22am Dec 18, 2013 11:22am
Quoting Megatanit
{quote} Means we could expect strange moves during and even after FOMC??? I think Bernanke will kill all forex accounts
the fed, the bank's biggest employee
and banks want everybody money
  • #356,416
  • Dec 18, 2013 11:32am Dec 18, 2013 11:32am
Quoting ThisPip
If i could wish for the PA, i would get me healthy risk averse move BEFORE the announcment, and a BIGGER risk on move after. So far, this is not playing out. However, i am still positive that there will be no taper. But maybe some "scary" side remarks...
There doesn't have to be a taper. All they have to do is announce it. That will be enough.
The "scary" shit comes in what else they say. For example they may say that the rates will remain near zero until unemployment is at 6% instead of 6.5%
Or they may say that there will be no rate increases until inflation is over 1.5% AND unemployment is under 6.5% (or 6%)
Or worse yet, they say that there will be no rate increase until worker participation rate is back over 70% AND UE @ 6.5% (or 6%) AND inflation is clearly rising.

Regarding the economic outlook, I expect the Fed to be hawkish, but they may temper it by saying inflation is too low and UE is not falling fast enough.

Of course there is also the possibility that taper is not mentioned at all and everything stays the same.

In the end, if you think you can position yourself ahead of today's event, then I think you're gambling... in which case, best of luck
Those who say it cannot be done should not interrupt those who are doing it
  • #356,417
  • Dec 18, 2013 11:48am Dec 18, 2013 11:48am
Cheers PipTrapper

Certainly to stay on the sidelines is a good idea to protect assets.

Getting the pop corn ready.
  • #356,418
  • Dec 18, 2013 12:13pm Dec 18, 2013 12:13pm
Attached Image (click to enlarge)
Click to Enlarge Name: KAble d1.gif Size: 152 KB
  • #356,419
  • Dec 18, 2013 12:16pm Dec 18, 2013 12:16pm
Quoting PipTrapper
{quote} Well, taper or not, if I thought that the BOE was likely to raise rates before the Fed, I'd be buying cable also.
they also quoted they wont allow much revaluation of gbp to keep growth healthy.

Fed has the final word today, it depends on usdx index weakening more or not.
  • #356,420
  • Dec 18, 2013 12:20pm Dec 18, 2013 12:20pm
Quoting ThisPip
Cheers PipTrapper Certainly to stay on the sidelines is a good idea to protect assets. Getting the pop corn ready.
Make it a jumbo

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
201 traders viewing now