Cable Update (GBPUSD)

At 11 I think I'm closing my International account and moving it to local equities.... I funded at 8.60 LOL

Well, already heard Osborne is taking another 25B from the public's purse, and thus inevitably increasing the value of Gilts from the UK (everybody likes well-valued debt, especially when unemployment is allegedly falling), as opposed to a poorly amalgamated currency for a Europe with a faltering manufacturing revival, increasing unemployment, and decreasing belief in the ‘dream’.

Oh, and there’s now a Greek at the helm of this disaster of ship… and we all know how well they can cook the books. (No offence intended to any normal person from Greece, just your elite.)

FOMC seems to have been a bit of non-starter - always cautious saying this, as the real moves can often transpire many hours later - and so await NFP. The latter of which may push the Dollar up, and have a little impact on Cable... she seems to have been sat on that 61.8 FE for quite some time now. It's almost as though she is waiting for something.

Will she be allowed to run for the 76.4 FE, that is the question...

This is what they mean when they say having the best of both worlds....,,,very nice

Cable seems to be building a bullish case

Pound rally, looking good daily candles!

For those bored of trading the cable today the CAD may be worth a look for a reaction at this level. The CAD has been getting a lot of rejection today at this level and may be worth a look for a retrace.

Charts - Monthly, 4 hour and 15 minutes.

My view of Cable.

In fact, I've shorted it now small.

Nice resistance you have there

May I know what MA settings u use there ?


Thank You

GU daily GMT+3

Daily bullish pinbar setup with 50% retracement is in progress.
Daily trend is still bullish, last HL confirmed by a pinbar, i hope even this week it can create a new HH about ~6700.
Monthly PP touched again, ready to left it away.





H4 GMT+3

Some rejection by ~6464 resistance.
Breakout from inside bar and close above ~6464 i will add more logs.
Invalidation if price could close under ~6382.





Good luck!

What's interesting is USD is showing strength across the board, but so is cable, and cable is winning the battle, so far.

I wonder why?

Perhaps it's the desire of others in the world not to give the US Dollar absolute dominance?

Or perhaps it has something to do with the Pound?

If $GBPAUD holds 1.8500, completes this H&S and makes a run on the 1.8225 neckline,

Okay guys, time to kill the pound again.. Source revealed, aggressive selling of cable in few hours time.

Hoping for a drive up to 1.66..ish so that I can take a heavy duty, filthy Mcnasty....SHORT position for the big smack down that is due this thing.

Seems FF has been "infiltrated"

GBP looks way overbought across all pairs. Tough to say because it's trending pretty damn strongly, Especially vs AUD/CAD.

Short term though, looks like we're going to see a pull back, probably on GBP news later.

Hopefully I'll get in short with the momentum if it happens

If we close this week above 6530 or so, I doubt she'll come back anytime soon.
Not expecting much movement from GBP news, seems it's priced in as usual

i agree it do look like eur/usd is trying to reverse to the down side

You weren't accurate with your London desk selling heavy on Monday. Sure, it opened going down hard, but then it came all the way back up and was flat for the day.