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Cable Update (GBPUSD)

  • #385,061
  • Jul 2, 2014 9:31am Jul 2, 2014 9:31am
Quoting ffleo
All major currencies are dropping against the dollar, but only pound is going up against the dollar. Is BOE themselves behind the scene to pump their own currency? WTF is wrong with pound, never had a decent retrace over a year? This thing is running like spx on viagra?
Strong £ = cheaper import price = lower domestic inflation = low interest rate for longer.

Maybe that's their plan.
  • #385,062
  • Jul 2, 2014 9:32am Jul 2, 2014 9:32am
Quoting ffleo
All major currencies are dropping against the dollar, but only pound is going up against the dollar. Is BOE themselves behind the scene to pump their own currency? WTF is wrong with pound, never had a decent retrace over a year? This thing is running like spx on viagra?
It is surprising , yes, but then, GBP had been bullish fundamentally, one one should expect so.
Intraday only.
  • #385,063
  • Jul 2, 2014 9:33am Jul 2, 2014 9:33am
Quoting albchr
{quote} Especially since we seem to have a similar approach. SR, ma, FIB. See, this red line is the 50% SR. A close above it and the 61.8 is "almost" sure to go. {image}
Testing 50% now. Let's see...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmm5.png Size: 74 KB
Ghost Rider - WWTBMD?
  • #385,064
  • Jul 2, 2014 9:33am Jul 2, 2014 9:33am
Quoting albchr
233 is point up again. Lets see how it handles supply. {image}
There should be supply in this area.

I doubt it will break either way before tomorrow, 5.30 EDT
Intraday only.
  • #385,065
  • Jul 2, 2014 9:33am Jul 2, 2014 9:33am
Quoting albchr
{quote} Someone is buying the crap out of it. Going up even against the $ rise. {image}
I can only think of BOE themselves. Every data release at 4:30am NYT it is spiked up with no retrace at all, it is at a time London can control their currency, but nope they just do not defend. On the contrary, it may be just themselves to do the rigging.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #385,066
  • Jul 2, 2014 9:35am Jul 2, 2014 9:35am
Quoting albchr
{quote} Someone is buying the crap out of it. GU Going up even against the $ rise. {image}
Bullish momentum is quite strong on this pair. Shorting it is too damn difficult.
  • #385,067
  • Jul 2, 2014 9:35am Jul 2, 2014 9:35am
Quoting Darkforce
{quote} Strong £ = cheaper import price = lower domestic inflation = low interest rate for longer. Maybe that's their plan.
that is also what I wondered. UK basically imports more than exports, so high pound benefit importing.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #385,068
  • Jul 2, 2014 9:36am Jul 2, 2014 9:36am
Quoting albchr
{quote} Sir Tau - Your wisdom never ceases to amaze me. Even in the barnyard.....
Sir, C

Always such a gent.

No wisdom. Fact.

She needs to calm down for an instant. Look for the gate. I'm like.. why me?
Attached Image
  • #385,069
  • Jul 2, 2014 9:36am Jul 2, 2014 9:36am
Quoting navk
{quote} There should be supply in this area. I doubt it will break either way before tomorrow, 5.30 EDT
Well, there goes the 61.8%
Ghost Rider - WWTBMD?
  • #385,070
  • Jul 2, 2014 9:36am Jul 2, 2014 9:36am
Quoting ffleo
{quote} I can only think of BOE themselves. Every data release at 4:30am NYT it is spiked up with no retrace at all, it is at a time London can control their currency, but nope they just do not defend. On the contrary, it may be just themselves to do the rigging.
It's wistful thinking to postulate that the BOE are rigging the markets.
  • #385,071
  • Jul 2, 2014 9:38am Jul 2, 2014 9:38am
Quoting TauTrader
{quote} Sir, C Always such a gent. No wisdom. Fact. She needs to calm down for an instant. Look for the gate. I'm like.. why me? {image}
Sir Tau - Look at the upside, you can still drink it. ....
Ghost Rider - WWTBMD?
  • #385,072
  • Jul 2, 2014 9:39am Jul 2, 2014 9:39am
Quoting albchr
{quote} Well, there goes the 61.8%
I agree, but then it needs to break the previous resistance. If it does not, then according to higher time frames, retrace is possible.
Intraday only.
  • #385,073
  • Jul 2, 2014 9:40am Jul 2, 2014 9:40am
Quoting navk
{quote} I agree, but then it needs to break the previous resistance. If it does not, then according to higher time frames, retrace is possible.
I agree 100% - One step at a time.
Ghost Rider - WWTBMD?
  • #385,074
  • Jul 2, 2014 9:42am Jul 2, 2014 9:42am
Quoting gammase1
{quote} It's wistful thinking to postulate that the BOE are rigging the markets.
How are you sir? Good to "see" you.
Ghost Rider - WWTBMD?
  • #385,075
  • Jul 2, 2014 9:43am Jul 2, 2014 9:43am
Quoting albchr
{quote} I agree 100% - One step at a time.
I have seen in this Cable.

After drop, the re purchase.

Then drop....

See for instance happened on 17 th June.
Intraday only.
  • #385,076
  • Jul 2, 2014 9:44am Jul 2, 2014 9:44am
Quoting albchr
233 is point up again. Lets see how it handles supply. {image}
Seems to like it. Eating it up ATM.
Attached Image (click to enlarge)
Click to Enlarge Name: !t-gbpusdmm233.png Size: 77 KB
Ghost Rider - WWTBMD?
  • #385,077
  • Jul 2, 2014 9:47am Jul 2, 2014 9:47am
Quoting albchr
{quote} Seems to like it. Eating it up ATM. {image}
Nope. Sellers in 7168/76
Intraday only.
  • #385,078
  • Jul 2, 2014 9:47am Jul 2, 2014 9:47am
That SHOULD be the top for today!
  • #385,079
  • Jul 2, 2014 9:49am Jul 2, 2014 9:49am
Quoting navk
{quote} Nope. Sellers in 7168/76
Yes, red line, 78.6 Lets see what happens.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmm5.png Size: 76 KB
Ghost Rider - WWTBMD?
  • #385,080
  • Jul 2, 2014 9:51am Jul 2, 2014 9:51am
Quoting ffleo
{quote} that is also what I wondered. UK basically imports more than exports, so high pound benefit importing.
I remember I've seen an article some where argue that BOE knowing this in their mind, and speculate that they probably want to take advantage of strong sterling to offset the pressure on a rising domestic inflation.

Can't find the original article otherwise I'll share.

I found this argument quite interesting though.
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