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Cable Update (GBPUSD)

  • #357,141
  • Jan 2, 2014 5:26am Jan 2, 2014 5:26am
Quoting Kajos2250
GU H4 GMT+3 I can't see any short signal at the moment, the bullish trend is building. Every deeper price is a good opporunity to take a long. I am holding all longs until a new candle could close under ~6507. First profit realzation zone ~6684. Good luck! {image}

Why the Long with the poor data on the GBP
Keep the Lights on then you can catch the rise from the dark.
  • #357,142
  • Jan 2, 2014 5:30am Jan 2, 2014 5:30am
does any body think that if we pull the daily trend line down slighty the move end of sept could of been a fake on the day this leading us to tech the trend line towards 1.660 ish. because if todays daily close bearish were going short , any thoughts on that one
  • #357,143
  • Jan 2, 2014 5:32am Jan 2, 2014 5:32am
we would look to break 1.6126 to break the trend if we see a big sell off down this could be the case
  • #357,144
  • Jan 2, 2014 5:33am Jan 2, 2014 5:33am
Quoting ricmaj
{quote} Why the Long with the poor data on the GBP
I never trade the news! Technikally much major resistance was broken in the short past and i see so they are becomeing, support strengtning the trend by my opinion...
Anything is math!
  • #357,145
  • Jan 2, 2014 5:37am Jan 2, 2014 5:37am
price action is set to take an upward turn. All i see now is 1.6638. meet me there.
6532 is the point of action.
Keep the Lights on then you can catch the rise from the dark.
  • #357,146
  • Jan 2, 2014 5:41am Jan 2, 2014 5:41am
Quoting ricmaj
price action is set to take an upward turn. All i see now is 1.6638. meet me there. 6532 is the point of action.
Let it be
Maybe the lowest price can be ~6523 today! I hope so!
Anything is math!
  • #357,147
  • Jan 2, 2014 6:01am Jan 2, 2014 6:01am
ok so looking at the table it has reach the 6523 and going down to 6520. do we hold from trading and wait for it to fall to buy or sell now?
  • #357,148
  • Jan 2, 2014 6:03am Jan 2, 2014 6:03am
Quoting Kajos2250
{quote} Let it be Maybe the lowest price can be ~6523 today! I hope so!

good call, but am done for the day with GU. It seems there is nothing that would stop it from Selling
Keep the Lights on then you can catch the rise from the dark.
  • #357,149
  • Jan 2, 2014 6:08am Jan 2, 2014 6:08am
I hope all bears had good pips. This will continue on monday too..
  • #357,150
  • Jan 2, 2014 6:13am Jan 2, 2014 6:13am
Quoting ricmaj
{quote} good call, but am done for the day with GU. It seems there is nothing that would stop it from Selling
If H4 could close under ~6503 i will close all too.
Anything is math!
  • #357,151
  • Jan 2, 2014 6:15am Jan 2, 2014 6:15am
Quoting veer2010
I hope all bears had good pips. This will continue on monday too..
thank you for good tip!
  • #357,152
  • Jan 2, 2014 6:16am Jan 2, 2014 6:16am
Quoting eugenyk
{quote} thank you for good tip!
you're welcome..lets all make pips..
  • #357,153
  • Jan 2, 2014 6:20am Jan 2, 2014 6:20am
Taken my profit from this, but it's not been easy! I nearly had a heart attack when I saw how much I was in the red last night, but as I had expected, this morning it was all down hill for GBP/USD.

Had multiple sells at:

1.654 area
1.658 area

Closed them all off now, going to see how it pans out for the rest of today/this week to see if i'll jump in will more sell orders.
  • #357,154
  • Jan 2, 2014 6:27am Jan 2, 2014 6:27am
just resting is going 1.6450 could be more see my post above ,, no comments come on guys this is got to break the trend
  • #357,155
  • Edited 6:30am Jan 2, 2014 6:28am | Edited 6:30am
Expect some whip-sawing on the GBP/USD, but make no mistake, the USD is going to give the Cable a run for its money. The GBP/USD has been on a tear since July. It's time to clip its wings for a bit. Could be a cascading mess once the Retail Trader realizes they jumped on board LONG at the top. Oh ya. Classic.
  • #357,156
  • Jan 2, 2014 6:30am Jan 2, 2014 6:30am
the bulls have 3 hopes the weekly trend line hold, hope 2 the 200sma just below the trend hope 3 bob hope
  • #357,157
  • Jan 2, 2014 6:37am Jan 2, 2014 6:37am
There is an hour to go before US Unemployment data, and the Dollar is surging against all majors, this is after, at best, mediocre news from Europe and the UK.

I would be hesitant to call the small move down on Sterling and Euro a sign of things to come. Indeed, I'd be more inclined to say that big money is pumping the dollar up on the back of the news today out of Europe and the UK, prior to poor news from the US that will see the Dollar drop, and Sterling and the Euro regain their losses from today.

I could be completely wrong – and often am – but I am yet to be convinced that the bull run in Cable has suddenly been reversed. Give me a few days of red, and then perhaps I will accept that the bears have gained control.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #357,158
  • Jan 2, 2014 6:39am Jan 2, 2014 6:39am
1.6216 daily trend line break this one its good night
  • #357,159
  • Jan 2, 2014 6:46am Jan 2, 2014 6:46am
Im very tempted to had a long at 1.647 if it makes it to that, we have seen this so many times it takes some time to drop, then the GBP recovers its loss in half the time.
  • #357,160
  • Jan 2, 2014 6:46am Jan 2, 2014 6:46am
Quoting 45Condor
There is an hour to go before US Unemployment data, and the Dollar is surging against all majors, this is after, at best, mediocre news from Europe and the UK. I would be hesitant to call the small move down on Sterling and Euro a sign of things to come. Indeed, I'd be more inclined to say that big money is pumping the dollar up on the back of the news today out of Europe and the UK, prior to poor news from the US that will see the Dollar drop, and Sterling and the Euro regain their losses from today. I could be completely wrong – and often am –...
I'm also in the camp of people who will need serious convincing that Gbp is headed south. Of course it's possible, but I believe that 2014 may be the year when we begin to see currencies trading toward their true relative values - and to me, that means USD heading south pretty much across the board.
Writer, currency trader, madman
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