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Cable Update (GBPUSD)

  • #386,861
  • Jul 13, 2014 10:15pm Jul 13, 2014 10:15pm
Gidday GBP/US

Well held a few longs over for the week end

couple under water

we burst will clear them out

Would like to load up a bigger trade

But if I screw it up

Last weeks pips will be lost
  • #386,862
  • Jul 14, 2014 12:43am Jul 14, 2014 12:43am
i m short on GBPUSD at 1.711 with SL of 1.725; let us see what to expect.
  • #386,863
  • Jul 14, 2014 2:21am Jul 14, 2014 2:21am
USD in junk. the index is crushing constantly.
No emotions, just trade
  • #386,864
  • Jul 14, 2014 2:23am Jul 14, 2014 2:23am
Despite trading in a sideways range, I noticed that the pair failed to break above the resistance 1.7185 levels with every bullish attempt.
From the upside, breaching 1.7185 could trigger a bullish wave targeting around 1.7305. Sell the pair around 1.7120 targeting 1.7080, 1.6995 then 1.6960 and stop-loss above 1.7220.
  • #386,865
  • Jul 14, 2014 2:42am Jul 14, 2014 2:42am
Where is it heading?
My patience is exhausting.
Attached Image (click to enlarge)
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  • #386,866
  • Jul 14, 2014 2:45am Jul 14, 2014 2:45am
Quoting Dr.Zain
Despite trading in a sideways range, I noticed that the pair failed to break above the resistance 1.7185 levels with every bullish attempt. From the upside, breaching 1.7185 could trigger a bullish wave targeting around 1.7305. Sell the pair around 1.7120 targeting 1.7080, 1.6995 then 1.6960 and stop-loss above 1.7220.
Will keep an eye on this one !
Hear the music before the song is over ...
  • #386,867
  • Jul 14, 2014 2:56am Jul 14, 2014 2:56am
Quoting raj23
i m short on GBPUSD at 1.711 with SL of 1.725; let us see what to expect.
SL hit
  • #386,868
  • Jul 14, 2014 3:08am Jul 14, 2014 3:08am
Quoting raj23
{quote} SL hit
What will you do next?
  • #386,869
  • Jul 14, 2014 3:14am Jul 14, 2014 3:14am
don't know if this gonna end well with shorts, i would be careful shorting to early
  • #386,870
  • Jul 14, 2014 3:16am Jul 14, 2014 3:16am
Quoting PoundTrader
don't know if this gonna end well with shorts, i would be careful shorting to early

that is true but it could have broken yesterday's low had this euro news not come. bullshit euro.
  • #386,871
  • Jul 14, 2014 3:49am Jul 14, 2014 3:49am
Quoting elbert3
Order changed On 13-Jul-2014 at 22:15:56 (GMT) You changed order to sell 10 GBPUSD spot @ 1.71325 limit G.T.C. . Front office order id: 56406933 Account: 5589929 sl 40 tp 706 night al congrats to Germany xxxxxx
Attached Image (click to enlarge)
Click to Enlarge Name: week.png Size: 103 KB
morning all sl was moved i am hoping the 61 fib on this weekly is confirming short
  • #386,872
  • Jul 14, 2014 3:51am Jul 14, 2014 3:51am
Im short at 1.7140.... please go down G/U

@elbert3
Hopefully ur short didnt hit SL
row row row your boat
  • #386,873
  • Jul 14, 2014 4:06am Jul 14, 2014 4:06am
Quoting ngiler
Im short at 1.7140.... please go down G/U
nice pick point..
  • #386,874
  • Jul 14, 2014 4:17am Jul 14, 2014 4:17am
Quoting raj23
{quote} SL hit
  • #386,875
  • Jul 14, 2014 4:37am Jul 14, 2014 4:37am
Quoting ngiler
Im short at 1.7140.... please go down G/U @elbert3 Hopefully ur short didnt hit SL
no i moved it to the high on red candle on the posted chart,, but its not looking straight forward at this time
  • #386,876
  • Jul 14, 2014 4:40am Jul 14, 2014 4:40am
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.png Size: 102 KB
i hour still bearish ,,i would like to see it in the down trending lines and below
  • #386,877
  • Jul 14, 2014 4:43am Jul 14, 2014 4:43am
tomorrow news about gbp confirms it down move
  • #386,878
  • Jul 14, 2014 4:57am Jul 14, 2014 4:57am
Quoting elbert3
{quote} {image} morning all sl was moved i am hoping the 61 fib on this weekly is confirming short
Saludos Billy,

Saw you made nice Ws late friday trading

Congrats !
Hear the music before the song is over ...
  • #386,879
  • Jul 14, 2014 5:37am Jul 14, 2014 5:37am
UK data have moderated recently, taking the steam out of recent GBP gains. However, we maintain our GBP view. The CPI data are likely to show a robust reading tomorrow, along with the labour market data. However, any softness in the wages data could prevent GBP benefitting more fully from the data improvement. There has been some scaling back of GBP long positions from recent extremes, according to the CFTC data. But broader positioning indicators, including our own FX Positioning Tracker, show a more moderate position. Hence, Morgan Stanley maintain our long position and look for a re-test of the 1.7180 level. Res: 1.7180 1.7445 1.7500. Supp: 1.7085 1.7005 1.6920
  • #386,880
  • Jul 14, 2014 5:47am Jul 14, 2014 5:47am
GBPUSD continues to consolidate sideways in its range, still holding above its 13-day average, trendline and price support at 1.7095/85. We (Credit Suisse) stay directly bullish while above, here for strength back up to test the 1.7181 recent high. Above here would turn the trend higher again for potential trend resistance at 1.7255 next, and eventually on to our long-held medium-term target at 1.7330/32 – the 50% retracement of the 2007/2009 collapse. We would look for this to then cap at first, for a correction lower. Below 1.7085 can see the formation of a minor top to target 1.7042 then 1.7008/1.6998, which we look to then ideally hold.
Strategy: Long, stop below 1.6921, for 1.7330.
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