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Cable Update (GBPUSD)

  • #407,821
  • Feb 5, 2015 4:49am Feb 5, 2015 4:49am
Quoting Barca
Possible? any comments?{image}
thinking the same...
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Money is made by sitting, not trading. Jesse L. Livermore
  • #407,822
  • Feb 5, 2015 4:50am Feb 5, 2015 4:50am
Quoting danndc
what is your turning point? all the major banks are dovish on gbp and as you can see from the link below JPM has 1.41 as target why it is always going up? http://www.efxnews.com/story/27813/m...asts-jp-morgan
Well it's been going down for the last 7 months in a row actually and that is one of the reasons why we might go up from here for a while. Add relatively good recent data and the fact that the BOE , despite the recently more dovish stance, remains the most hawkish central bank together with the FED.

Quick word of advise for what it's worth: do not take what bank analysts say as gospel. They are smart guys but they often get it wrong. Back towards the beginning of the summer last year for instance some of them were calling for cable at 1.75 and above by year end; we can all see how that went....
  • #407,823
  • Feb 5, 2015 4:52am Feb 5, 2015 4:52am
Quoting danndc
what is your turning point? all the major banks are dovish on gbp and as you can see from the link below JPM has 1.41 as target why it is always going up? http://www.efxnews.com/story/27813/m...asts-jp-morgan

I am still very new but until someone more experienced answers your question: Pending a miracle the Bank of England interest rate will stay at 0.5% (news released at 1200GMT). It has been at this level for ages. The rate is chosen by the board who vote, gradually more of the board have been voting in favour of raising the rate but last month the board unanimously voted to keep the rate at 0.5%. The rate is kept so low because the economy is still suffering so the board members changing their mind signifies the economy isn't getting better any time soon. Unless there is a change of rate (signalling a change to the economy) the trend will continue down.

I would guess that the reason it continues up in the very short term is: pre-positioning for the news on the interest rate and pre positioning for the non farm pay roles tomorrow. The currency has been ranging in a 200-300 pip band since early Jan so up moves are part of that. I would however have a short waiting in the wings when the news is released at 1200.
  • #407,824
  • Feb 5, 2015 4:58am Feb 5, 2015 4:58am
Bearish vol indications on GU h1 pre news?
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  • #407,825
  • Feb 5, 2015 5:02am Feb 5, 2015 5:02am
In fact, I've just closed my long and gone short at 15246. Price may range here for a bit but I am expecting it to drop within the next hour or so.
  • #407,826
  • Feb 5, 2015 5:43am Feb 5, 2015 5:43am
Good morning.

I think that there is at least another move up before the GBP/USD heads down.

Enjoy your morning.

B
  • #407,827
  • Feb 5, 2015 5:53am Feb 5, 2015 5:53am
Here cometh the drop...
  • #407,828
  • Feb 5, 2015 6:06am Feb 5, 2015 6:06am
With the sustained breakout of the descending trend-line, the GBPUSD up-move is more likely to be restricted near 1.5270, breaking which it can rally towards 1.5320. On the downside, the 1.5150 becomes an important support.
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  • #407,829
  • Feb 5, 2015 6:09am Feb 5, 2015 6:09am
Why no movement?
  • #407,830
  • Feb 5, 2015 6:16am Feb 5, 2015 6:16am
The Bank of England will provide interesting information only for a week while reading the inflation report
  • #407,831
  • Feb 5, 2015 6:26am Feb 5, 2015 6:26am
what is now waiting for the US macro
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  • #407,832
  • Feb 5, 2015 6:34am Feb 5, 2015 6:34am
So now what? hold the sell order?
  • #407,833
  • Feb 5, 2015 6:38am Feb 5, 2015 6:38am
Quoting anima999
{quote} I am still very new but until someone more experienced answers your question: Pending a miracle the Bank of England interest rate will stay at 0.5% (news released at 1200GMT). It has been at this level for ages. The rate is chosen by the board who vote, gradually more of the board have been voting in favour of raising the rate but last month the board unanimously voted to keep the rate at 0.5%. The rate is kept so low because the economy is still suffering so the board members changing their mind signifies the economy isn't getting better...
they are not just talking, they entered short at 52 with sl 5280
  • #407,834
  • Feb 5, 2015 6:55am Feb 5, 2015 6:55am
15260
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  • #407,835
  • Feb 5, 2015 7:21am Feb 5, 2015 7:21am
why is it going up?
  • #407,836
  • Feb 5, 2015 7:41am Feb 5, 2015 7:41am
Quoting danndc
why is it going up?

yes broke REsistance now
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  • #407,837
  • Feb 5, 2015 7:41am Feb 5, 2015 7:41am
Quoting sam69
sell 52545...
s/o...
Money is made by sitting, not trading. Jesse L. Livermore
  • #407,838
  • Feb 5, 2015 7:44am Feb 5, 2015 7:44am
Hi danndc,

If you don't mind me asking, what are you looking at to identify when price will reverse? Curious to know how you are determining this level, signal, indicator.

B.
  • #407,839
  • Feb 5, 2015 7:50am Feb 5, 2015 7:50am
Quoting Dano12
{quote} yes broke REsistance now {image} {image}
It looks that wants to fill the gap's retail at 53,30.
  • #407,840
  • Feb 5, 2015 7:52am Feb 5, 2015 7:52am
Quoting Bren0001
Hi danndc, If you don't mind me asking, what are you looking at to identify when price will reverse? Curious to know how you are determining this level, signal, indicator. B.
stochastic and TL
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