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Cable Update (GBPUSD)

  • #393,241
  • Aug 13, 2014 10:18am Aug 13, 2014 10:18am
FXStreet (San Francisco) - After a previous bounce from 1.6700 to 1.6730, the GBP/USD is now testing the key 1.6700 level again with the pair pricing at lows since April 15 at 1.6690.

The Pound is trading under pressure on Wednesday following the dovish tone struck by BoE's Carney in today’s Quarterly Inflation Report.

Currently, GBP/USD is trading at 1.6695, down 0.73% on the day, having posted a daily high at 1.6846 and low at 1.6690. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.

GBP/USD sentiment

"Cable remains under pressure after BOE's Carney cooled speculation of a 2014 rate hike from the BOE," comments Jamie Coleman from FXBeat. Now focus is at "the 38.2% retracement of the 1.5855/1.7190 rally at 1.6686. That should be a major support zone, followed closely by the 200-day moving average don at 1.6660."
The Phoenix Trader....
  • #393,242
  • Aug 13, 2014 10:19am Aug 13, 2014 10:19am
So we are in no mans land

Suggestions required

Buy or Sell?
The Phoenix Trader....
  • #393,243
  • Aug 13, 2014 10:21am Aug 13, 2014 10:21am
Quoting sunilpawar
So we are in no mans land Suggestions required Buy or Sell?
Sell on every pullback
A good trader follows his rules, but great trader knows when to break them
  • #393,244
  • Aug 13, 2014 10:22am Aug 13, 2014 10:22am
Quoting Bones
if your thinking of buying maybe another job is in order {image}
  • #393,245
  • Aug 13, 2014 10:22am Aug 13, 2014 10:22am
still not giving up this 1.66954 daily fib level if that breaks its down to the 200ema though.
  • #393,246
  • Aug 13, 2014 10:27am Aug 13, 2014 10:27am
Its the Carneys carnage show ,, all the way from where ??????,, i think HDA is long to it thou,,,lol good old UK get some outsider to f,,,,k it up
  • #393,247
  • Aug 13, 2014 10:28am Aug 13, 2014 10:28am
Quoting elbert3
Its the Carneys carnage show ,, all the way from where ??????,, i think HDA is long to it thou,,,lol good old UK get some outsider to f,,,,k it up
It will take a lot of patience this time ...
Fix up, trade sharp ...
  • #393,248
  • Aug 13, 2014 10:32am Aug 13, 2014 10:32am
Quoting thegmann
still not giving up this 1.66954 daily fib level if that breaks its down to the 200ema though.
1.66924
  • #393,249
  • Aug 13, 2014 10:33am Aug 13, 2014 10:33am
Quoting imnicetoyou
{quote} how you know it GBP/JPY will test 172.30 area? what if not?
A good trader follows his rules, but great trader knows when to break them
  • #393,250
  • Aug 13, 2014 10:34am Aug 13, 2014 10:34am
Quoting cspip
{quote} 1.66924
yeah sorry haha read the wrong bottom from the red candle 4 days after looks like it may break it now though soo well see.
  • #393,251
  • Aug 13, 2014 10:36am Aug 13, 2014 10:36am
Quoting Hickson
{quote} It will take a lot of patience this time ...
do or die time again ?? bounce ???? pp is on now at 6696 ..
  • #393,252
  • Aug 13, 2014 10:37am Aug 13, 2014 10:37am
Quoting ill_be_back
{quote}
I was thinking first try 171.615.......
  • #393,253
  • Aug 13, 2014 10:40am Aug 13, 2014 10:40am
Quoting cspip
{quote} I was thinking first try 171.615.......
This will
Attached Image
A good trader follows his rules, but great trader knows when to break them
  • #393,254
  • Aug 13, 2014 10:40am Aug 13, 2014 10:40am
Too many.........I've got levels coming out my ears !

  • #393,255
  • Aug 13, 2014 10:42am Aug 13, 2014 10:42am
Attached Image (click to enlarge)
Click to Enlarge Name: KAble d1.gif Size: 174 KB
  • #393,256
  • Aug 13, 2014 10:44am Aug 13, 2014 10:44am
Global, Greener & "i'll be back"...

I hope you three have been "Laughing Yourselves",
all the way to the bank on this last one, (move)! !

Hilarious,
After all 'Calling for Longs...
'Was just exhausted after '24 hr day trying to "chase" the market.

'My belief is we had some little "Up" on a 240 min. chart,
but look at the daw gone, "D", "W"eekly... "Good Googa Mooga".
-There's more to be had.

Current Targets i see, as "I'll be back" are 1.6674 "Ish"...
and if the 1/4' is broken hard there, next target 1.6648-50 area.
Best of Pipping,
"All",

Jeff Out
Attached Image (click to enlarge)
Click to Enlarge Name: 8_13_2014 Possible ELLIOT Wave Targets GBP_USD.png Size: 19 KB
I will work to Objectively Identify my Edges
  • #393,257
  • Aug 13, 2014 10:45am Aug 13, 2014 10:45am
I don't think many have been around to see free fall before
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #393,258
  • Aug 13, 2014 10:49am Aug 13, 2014 10:49am
Quoting cspip
1.6685 ?
upto 98 maybe.......or is it going to stay between 92 and 84 for the next hour
  • #393,259
  • Aug 13, 2014 10:51am Aug 13, 2014 10:51am
Quoting Bones
I don't think many have been around to see free fall before
Roger That Bones,
Ha! !

Hilarious...
Just Hilarious, i esp. like the...
"You may want to look for another Job," quote -a few post's back,
Calling for a "Long" !
-No offense intended from or two to the party mentioned,
It's all just 'Hilarious! Ha!

I'm wondering if 'Cloggie' ever checks in here anymore...?
All the Best Bones,

Jeff Out !
I will work to Objectively Identify my Edges
  • #393,260
  • Aug 13, 2014 10:53am Aug 13, 2014 10:53am
Hahaha this is so funny so much confusion and hesitation... I'll be honest I don't know my self, but for sure I won't be entering any long term positional trades at the moment until I see a few more data. My bias at the moment is still short, I didn't expect it to fall through the floor today as it did today even though yesterday I said my take profit of 1.6750 would be hit during carneys speech (I eventually moved it to 1.6730)... so we can put that down to emotions... so a quick long position with good break even trade is worth considering.
Peace & Pips
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