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Cable Update (GBPUSD)

  • #407,901
  • Feb 6, 2015 1:02am Feb 6, 2015 1:02am
Quoting Mr. Scott
{quote} Was wondering where you where today buddy, NFP, so...But still relevant either way to me. http://www.forexfactory.com/showthre...22#post8045622 Zoom and makes sense. {image}
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there you go break above and one for the bear incase but for now look lower tc to buy dips
  • #407,902
  • Feb 6, 2015 1:10am Feb 6, 2015 1:10am
Quoting elbert3
{quote} morning S, yes business all day yesterday and had them back to the house,the addiction is bad,lol i could not even use the phone as i was with the sheriff all day.lol and the same today, just when it is getting exciting ,Anyway taken the money this morning, not sure if to sell it off here or buy it back, {image}regards B,, ps gone short you can see support,, i have a couple of hours before i have to go,, pps i just had a look at your quoted post,,that was the one with regards to sh88..lol
morning elbert, i think that 1.5360 will cap this retracement and the pair will drop to test 1.48 cause the january monthly candle broke the TL last month
  • #407,903
  • Feb 6, 2015 1:14am Feb 6, 2015 1:14am
Quoting danndc
{quote} morning elbert, i think that 1.5360 will cap this retracement and the pair will drop to test 1.48 cause the january monthly candle broke the TL last month
could be watching the break above here should be 5350 ish or 5270 ish for a bounce then it will be 5480 target , i would think ,,if it goes the line in blue could be the key
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  • #407,904
  • Feb 6, 2015 1:17am Feb 6, 2015 1:17am
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you can see it trying to build a top,, but it could go to the top x failing that supports from the past x
  • #407,905
  • Feb 6, 2015 1:20am Feb 6, 2015 1:20am
thats quick first coming up,,glad i got short,, 318/5300 then the blue line comes into play if support here goes,
  • #407,906
  • Feb 6, 2015 1:49am Feb 6, 2015 1:49am
Quoting elbert3
thats quick first coming up,,glad i got short,, 318/5300 then the blue line comes into play if support here goes,
so are you short? what is your target?
  • #407,907
  • Feb 6, 2015 2:01am Feb 6, 2015 2:01am
1.5363 still not touched, wonder if it will be reached amid some volatile range trading today, or maybe NFP will give a two-way shake.

Looking for two-way range play today before NFP.
  • #407,908
  • Feb 6, 2015 2:31am Feb 6, 2015 2:31am
Quoting Darkforce
1.5363 still not touched, wonder if it will be reached amid some volatile range trading today, or maybe NFP will give a two-way shake. Looking for two-way range play today before NFP.
it could even not touch it, if NFP comes out very strong, i think that EUR and GBP will fall down
  • #407,909
  • Feb 6, 2015 2:48am Feb 6, 2015 2:48am
Quoting danndc
{quote} so are you short? what is your target?
at this time yes in scalp mode incase support here fails which is possible,, what are you doing, ?? regards
  • #407,910
  • Feb 6, 2015 2:54am Feb 6, 2015 2:54am
Quoting elbert3
{quote} at this time yes in scalp mode incase support here fails which is possible,, what are you doing, ?? regards
i am short with SL at 1.5470 and 1.5410 with all my stock

what do you think?

what is your support you are talking about?
  • #407,911
  • Feb 6, 2015 3:03am Feb 6, 2015 3:03am
Quoting danndc
{quote} i am short with SL at 1.5470 and 1.5410 with all my stock what do you think? what is your support you are talking about?
support id where price has been held and rejected in the past ,, look left on all you time charts,, i cannot tell you how to trade as i will have a different outlook and different style , your sl is big ,can i ask with respect how long have you been trading,, i am just over 1 year , so no expert . if you think a price is capped for me my sl would just be over where you think the cap is,, other wise you dont believe in your trade, if that makes sense .
  • #407,912
  • Feb 6, 2015 3:06am Feb 6, 2015 3:06am
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  • #407,913
  • Feb 6, 2015 3:17am Feb 6, 2015 3:17am
Quoting danndc
{quote} i am short with SL at 1.5470 and 1.5410 with all my stock what do you think? what is your support you are talking about?
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take a look at 4 hour, not since the fall has price broke over the 200 in green , but one could wait until todays over or it can bounce on the tl it came out of last or for be 10/20 emas i like to trade back to the 4 hour 10 ema after a big move either way,, if you look at the week and if you have a 10 ema you will see the price touch it after being apart for some time,, so we are just borderline trend change 5270 could hold the key. so a buy over the high should be ok,, but its friday payroll day , anything could happen.
  • #407,914
  • Feb 6, 2015 3:57am Feb 6, 2015 3:57am
The pair confirmed a strong closing and as I expected it broke above 1,53 suggesting an extension toward 1,55, even today if the figures will be as I expect. Next resistance will be the 55 days line at 1,5412. If the pair goes directly toward 1,55, I suggest selling it big time for a decent correction. And I know the GBPUSD can do this anytime.
  • #407,915
  • Feb 6, 2015 4:09am Feb 6, 2015 4:09am
just took the trade of 5310 looks like 308 might have the upper hand might just jump back in either way here
  • #407,916
  • Feb 6, 2015 4:26am Feb 6, 2015 4:26am
Quoting elbert3
just took the trade of 5310 looks like 308 might have the upper hand might just jump back in either way here
what about bad balance from uk?

if NFP is good what happens?
  • #407,917
  • Feb 6, 2015 5:59am Feb 6, 2015 5:59am
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Quoting danndc
{quote} what about bad balance from uk? if NFP is good what happens?
If the NFP print is better than the expected consensus reading,
then it will be seen as a good sign for the US economy, and the
USD will get stronger -- and that is represented by a drop
on the GBP/USD charts. That drop might be especially pronounced
if the print is MUCH better than expected.

From today's Marketwatch Economic Calendar:
http://www.marketwatch.com/economy-p...ndars/economic

The forecast (i.e., the consensus) is 230,000 new jobs created.
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #407,918
  • Feb 6, 2015 6:09am Feb 6, 2015 6:09am
Some other stats worth noting:

The last 4 months have shown 2 month positive revisions of +69K, +31K, +44K and +50K. You have to go back to the September release to find a negative revision number (-28K)
Over the last 5 months, 3 report have been stronger than estimates, 2 weaker (the last two have been stronger). If revisions are factored in, 4 of 5 were stronger than estimates

From Jeff Adler, the following information on US withholding tax collections:

US witholding tax collections rebounded strongly last week – strongest levels since last September
Quarterly estimated individual income tax collections for this month have come in very strong suggesting the small business sector has been booming
Unusually weak witholding tax collections around the January reference week may foreshadow a negative surprise in Jan jobs data. this may be no means assured as the rest of the month has been so strong so a difficult call for NFP above or below expectations
A toss up, and whether the numbers come in at, above or below probably depend on how employers reported that week.Month to Date Comparisons:
Withheld 1/31/14 – 1/30/15, % Change .. ..2.5%
Non Withheld same period % Change……..10.2%
Excise, again same period % Change……….1.8%
Corporate , same period………………………- 1.8% (January is not a collection
  • #407,919
  • Feb 6, 2015 6:22am Feb 6, 2015 6:22am
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  • #407,920
  • Feb 6, 2015 6:49am Feb 6, 2015 6:49am
Wow, seems like 1.5352 was just met by hard selling ...
Fix up, trade sharp ...
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