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Cable Update (GBPUSD)

  • #375,421
  • May 2, 2014 8:02am May 2, 2014 8:02am
nAV, I will be flabbergasted if this thing gets below 6749 before heading to 1.7
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 35 KB
Come with me if you want to live....
  • #375,422
  • May 2, 2014 8:02am May 2, 2014 8:02am
Quoting PipLand
S&P falling and dollar rallying on good news seems like a dangerous combination to me
  • #375,423
  • May 2, 2014 8:02am May 2, 2014 8:02am
Average earnings are actually down, so no interest rate hike in near future. GBP still has room to go up 1.7040 area needs to be tested before any change or continuation of trend. Just my view.
  • #375,424
  • May 2, 2014 8:03am May 2, 2014 8:03am
Quoting JimmyC
{quote} Kabuse now...
I'm sorry, I meant on a daily. Did it spike over 80? Don't have an index handy.
Ghost Rider - WWTBMD?
  • #375,425
  • May 2, 2014 8:04am May 2, 2014 8:04am
Quoting ArekJP
Average earnings are actually down, so no interest rate hike in near future. GBP still has room to go up 1.7040 area needs to be tested before any change or continuation of trend. Just my view.
GBP will not turn unless the big deal turns sour, which I think there is a slim chance for. We will find out before 25th May.
  • #375,426
  • May 2, 2014 8:04am May 2, 2014 8:04am
Quoting Ill-b-back
nAV, I will be flabbergasted if this thing gets below 6749 before heading to 1.7 {image}

I have an extreme target of 1.53 or there about
im almost sure 1.6749 is coming b4 1.7

i think 1.7 is out of reach
  • #375,427
  • May 2, 2014 8:05am May 2, 2014 8:05am
Quoting albchr
{quote} I'm sorry, I meant on a daily. Did it spike over 80? Don't have an index handy.
79,91 top of spike
  • #375,428
  • May 2, 2014 8:06am May 2, 2014 8:06am

Quoting ruffryders
{quote} oh you mean that cabin? Yous got wifi their hooked up, ready to trade NFP. {image}
not euphoria follower
  • #375,429
  • May 2, 2014 8:07am May 2, 2014 8:07am
Quoting ruffryders
{quote} GBP will not turn unless the big deal turns sour, which I think there is a slim chance for. We will find out before 25th May.
That is gone be interesting as 26th is a bank holiday in UK and US if im correct...
  • #375,430
  • May 2, 2014 8:07am May 2, 2014 8:07am
Quoting JimmyC
{quote} 79,91 top of spike
...
Ghost Rider - WWTBMD?
  • #375,431
  • May 2, 2014 8:09am May 2, 2014 8:09am
Quoting ruffryders
{quote} GBP will not turn unless the big deal turns sour, which I think there is a slim chance for. We will find out before 25th May.

the move up is a correction that is all ..
it is not the trend..u will see very soon
  • #375,432
  • May 2, 2014 8:09am May 2, 2014 8:09am
Quoting nAVIN2007
{quote} look at yesterday daily..the long wick, look today..the market didnt even test or attempt but broke the low..is this a clue???
I don't think that overall daily structure immediately above support is bearish nAV.
It broke the low and created a fractual and that's it.
If 6919 really is strong resistance, the wick should be alot longer and the body much shorter.
Look at the daily wicks at 6749 and 6821 resistance levels, ...now support levels....

THAT was strong resistance, and now becomes strong support
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 35 KB
Come with me if you want to live....
  • #375,433
  • May 2, 2014 8:09am May 2, 2014 8:09am
Quoting nAVIN2007
{quote} the move up is a correction that is all .. it is not the trend..u will see very soon
not euphoria follower
  • #375,434
  • May 2, 2014 8:10am May 2, 2014 8:10am
Dollar index try to test upper level
Attached Image (click to enlarge)
Click to Enlarge Name: usdidxdaily.png Size: 38 KB
  • #375,435
  • May 2, 2014 8:10am May 2, 2014 8:10am
Quoting nAVIN2007
{quote} I have an extreme target of 1.53 or there about im almost sure 1.6749 is coming b4 1.7 i think 1.7 is out of reach
Ok mate, all the best
Come with me if you want to live....
  • #375,436
  • May 2, 2014 8:11am May 2, 2014 8:11am
Quoting nAVIN2007
{quote} I have an extreme target of 1.53 or there about im almost sure 1.6749 is coming b4 1.7 i think 1.7 is out of reach
Hi NAV, you have a good feeling bro..... will be a happy weekend for you
  • #375,437
  • May 2, 2014 8:11am May 2, 2014 8:11am
Quoting nAVIN2007
{quote} that was the top
Maybe but my chart say up
we will c
  • #375,438
  • May 2, 2014 8:12am May 2, 2014 8:12am
now waiting for 8 May
A handful of patience is worth a bushel of brains
  • #375,439
  • May 2, 2014 8:12am May 2, 2014 8:12am
Attached Image
not euphoria follower
  • #375,440
  • May 2, 2014 8:14am May 2, 2014 8:14am
Quoting Ill-b-back
{quote} I don't think that overall daily structure immediately above support is bearish nAV. It broke the low and created a fractual and that's it. If 6919 really is strong resistance, the wick should be alot longer and the body much shorter. Look at the daily wicks at 6749 and 6821 resistance levels, ...now support levels.... THAT was strong resistance, and now becomes strong support {image}

u have to remember one thing u cannot look at a daily chart when price has moved form 1.49 to here and expect to see anything but a bullish chart
u need to look at a bigger picture to show where the block may come from..

I am not saying i know where it is going but i think the smart money is short
there is no descent risk/reward longing but the risk reward to short is fantastic

I have no idea where the mofo is heading or even if what i see makes sense
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