Cable Update (GBPUSD)

Quick +20 on the pound, didn't expect that one

Continuation trade. Missed the first entry

Forex - GBP/USD dips on Scottish independence talk, hawkish Fed language

COUNT DOWN ---------------------------------> Septemebr 18th, 2014


Investing.com - The pound edged lower but steadied against the dollar on Tuesday, as investors avoided sterling ahead of a Sept. 18 Scottish referendum on independence from the U.K., though bottom fishing stabilized the pair.
http://glocdn.investing.com/news/sign_GBP_USD_b.jpgPound dips against dollar on Scotland uncertainty, though data cushion losses
In U.S. trading on Tuesday, GBP/USD was down 0.06% at 1.6095 up from a session low of 1.6064 and off a high of 1.6156.
Cable was likely to find support at 1.6057, the low from Nov. 19, 2013, and resistance at 1.6233, Monday's high.
The pound came under heavy selling pressure on Monday after a weekend YouGov/Sunday Times found that 51% in Scotland favored voting for independence from the U.K. in a referendum set to take place on Sept. 18.
Uncertainty as to what currency a newly independent Scotland would adopt, how much U.K. debt it would assume and what steps London would take to keep its northern neighbor in the fold sent investors avoiding sterling on Monday and into Tuesday.
Elsewhere, largely positive U.K. data gave the pound some support by bringing in the bottom fishers.
Official data showed that U.K. manufacturing production rose 0.3% in July, in line with expectations, after a 0.3% gain the previous month.
A separate report showed that the U.K. trade deficit widened to £10.19 billion in July, from £9.41 billion in June. Analysts had expected the trade deficit to narrow to £9.10 billion in July, though expectations remained firm that the economy continues to recover.
The dollar, meanwhile, remained in positive territory over the pound on hawkish language out of the Federal Reserve Bank of San Francisco, which hinted that markets may be underestimating the pace at which rates may rise, evidenced by low volatility.
"Recently, subdued levels of volatility in financial markets have received some attention. For example, Federal Reserve Chair Janet Yellen (2014) noted that 'indicators of expected volatility in some asset markets have fallen to low levels, suggesting that some investors may underappreciate the potential for losses and volatility going forward,''" the report read.
"Prices of financial assets, such as stocks and bonds, are sensitive to unexpected changes in interest rates because their present values are determined by discounting future cash flows. Thus, the low volatility in asset markets could, in part, reflect market participants’ relative certainty about the future course of interest rates."
Elsewhere, sterling was down against the euro, with EUR/GBP up 0.22% at 0.8026, and up against the yen, with GBP/JPY up 0.19% at 171.06.
On Wednesday, Bank of England Governor Mark Carney and several monetary policy committee members are to testify on inflation and the economic outlook before Parliament’s Treasury committee.
While no major U.S. data is due for release on Wednesday, investors will prep for Thursday's report on initial jobless claims and Friday's data on retail sales and consumer sentiment.

http://www.investing.com/news/forex-...anguage-308815


GBP to 1.5000

Added few more longs at 1.6062.

i know it sounds crazy..just see it as possible scenero..but not likely
actually forget 1.7 but 1.66 is possible..

what number 6150 ? is it Fib Resist.??? MM robbing buyer ...

Dan Barker : Scotland Poll result: 53.9% Yes
http://barker.co.uk/wp-content/uploa...1283c4c560.png

"News of another poll due out tonight for the Scottish Record Tabloid apparently with a “sensational outcome” which the street assumes will be showing the Yes camp ahead doing the damage on the last leg lower in cable ."

should be moving

5990 anyone? then perhaps 5835?

USD/JPY 106.21 --> 106.66 +45 pips

EUR/USD 1.2890 --> 1.2945 +55 pips

GBP/USD 1.6105 --> 1.6094 +11 pips

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+111 pips in 3 pairs in less than 24 hours.

Not bad. I like the price response .

and again

They may need bailing out again, if they're not careful........If I were in Scotland I'd move most of my money out.........

the sum bitch is warming up

yea I see ,is poss ,right now prime minister gone to Scotland today ,
I'm not normally conspiracy type but there going on about markets falling due to yes vote ,
when its already falling well before
lots at stake

big waves ...

I can play the violin with my nerves

insert picture of Jackie Gleason? Ok snowman out. F*** that is a old movie..

I don't have any nerves anymore.. long gone..

Currently +70 pips. Moving SL to +10.

exactly..these arseholes never tell the truth

long 1.6133
lets see if it will break 1.6150 this time