Cable Update (GBPUSD)

Jump in the moving train...

bang thank goodness for sls

Woo Hoo, someone pulled the plug on cable.
I Hope there were no buys above 6770 as per JP Morgans friendly advice.....

damn thing is going down like cheese...

no. possible buy with sl at 1.6617. last support before 1.6576

http://http://www.youtube.com/watch?v=fCuw4I7KKwI

finally getting some action... have shorts from 1.6715. set SL to BE.

Just wish EURUSD would drop

GBP selling is bcoz of the news that vodafone is buying a spanish co for 7 billion

can be but it can be a deal based buying as well. euros bought for sell of cable

it will i think

should of waited for a tl to trade off, looks like the 200 in view ???

FCA best execution review puts 40 firms under spotlight
Author: Robert Mackenzie Smith
Source: FX Week | 06 Mar 2014
Categories: Compliance

The FCA's review into best execution practices is set to reveal further malpractice in the retail FX market, say participants

Up to 40 firms, including some retail foreign exchange brokers, are under investigation in the UK Financial Conduct Authority's (FCA) thematic review into best execution practices across a variety of different markets.
FXCM, which was fined for not passing on price improvements from slippage to clients, is not alone in this camp, according to Lorraine Bay, partner at financial consulting firm Moore Stephens in London.
file:///C:\Users\Astron\AppData\Local\Temp\msohtmlclip1\01\clip_image001.jpgThe mere fact the FCA is doing a thematic review means a number of other firms are undertaking exactly the same practice
"The mere fact the FCA is doing a thematic review means a number of other firms are undertaking exactly the same practice. Where they have found this, I expect a number of firms to face a similar punishment that FXCM has," she says, adding that firms whose best execution practices are found to be below par will be expected to review past business practices and carry out redress exercises.
The review, which was announced in the FCA's latest Market Watch and in the press release detailing FXCM UK's fine of £4 million on February 26 for failure to provide best execution to its clients, explores in more detail what is expected of companies under best execution guidelines.
"Brokers in certain markets, including regulated CFD [contracts for difference] and spread-bet firms and those offering rolling spot forex contracts for difference, may be failing to recognise that their activities fall within the scope of the best execution rules," says the FCA's newsletter, released last month.
The guidance, which is not new, includes the condition that "positive price movements between the submission of an order and its execution are passed on to the client, and that firms are not seeking to retain any slippage in the clients' favour".
FX Week contacted a number of firms in the retail FX market to find out whether they adhered to the FCA's guidance on best execution for their clients. Oanda chief executive Ed Eger said he was comfortable with how the company executes trades, while Cypriot broker FxPro said it passed on price improvements to customers.
"Oanda has never been fined in any of the five jurisdictions it operates in around the world, and we believe we adhere to all the guidelines of best execution the FCA put in its Market Watch report. We are also very pleased the FCA is looking at practices in the retail FX market, as we believe there are some brokers who do not operate with the same level of transparency as we do," Eger says.
"FxPro welcomes the FCA's review of best execution and any action that is taken in the best interests of retail clients," says Charalambos Psimolophitis, chief executive at FxPro. "Being an agency model broker means it is in our interests to see our clients profit, and we believe this to be the best method of trade execution as it removes any conflict of interest you might otherwise have with clients if you are a market-maker."
CMC Markets, IG Index and VantageFX were unable to be reached for comment. The FCA's review is expected to be completed by the end of the second quarter.


http://www.fxweek.com/fx-week/news/2...ditors_Updates

out 635

out 635

Cable broke 3 support levels already!

and go up b+tch...it's just sell-off during eventless day I hope.

Hello Sterling Darlings,

H8 GBPAUD is scary, that's why I bought it @ 8404. Very risky, but looking for a great reward 8510 and 8610. SL under the low of the day.

So do you scalp with like 20-30 lots? I see u jump in and out several times ....

so why would GBP drop?

yes

prolly EUR/GBP buying