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Cable Update (GBPUSD)

  • #412,121
  • Mar 23, 2015 7:52am Mar 23, 2015 7:52am
Quoting sgkrishn
{quote} By the candle formation and ichimuko - kijun sen stability beyond the cloud level. {image}
Thank you - very much appreciated
  • #412,122
  • Mar 23, 2015 8:18am Mar 23, 2015 8:18am
Quoting ez0770
{quote} The reason why sterling has rallied vs the Euro is the same reason as to why the USD has been rallying against everything else, i.e. monetary policy divergence, with the BOE allegedly on track to hike rates in the near future and the ECB just starting out its QE program. To say that Sterling is overvalued vs the USD is very questionable in my opinion, after the pair dropped almost 20% in a straight line and with no perceived divergence in policy between the two central banks, other than perhaps on the timing of the first rate hike, but that...
GBP is overvalued compared to EUR. And that's all they care about. Their exposure to USD and GU fluctuation is much more limited and is the reason GU has been falling (to catch up EU). GBP can only rally a certain amount against EUR before becoming a liability and at this amount BoE would intervene to drop it even after a rate raise. As long as EU is falling due to QE and other EZ issues, GU would just be its shadow.
  • #412,123
  • Mar 23, 2015 8:22am Mar 23, 2015 8:22am
Quoting MarkyB
{quote} Thank you - very much appreciated
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,124
  • Mar 23, 2015 8:46am Mar 23, 2015 8:46am
Quoting _BBKing_
{quote} not trading cable since ages... but i personally see interesting opportunity for price to revisit higher 1.49 - 1.50 before any further drop (if any). as always the problems is to be in counter-trend so careful in case of downside good luck
thanks bro i appreciate your reply and i respect your advise, you are good trader, i have seen your posts before also,
but i am confident as i said in my earlier posts i am buying Pound and now my Target is 1.5340 until then i will buy on dips. and i am doing it with both GBPUSD and GBPJPY. as you can see on my Trading, i bought from 1.4730 and still buying on dips. and i will do it until we see 1.5340 hopefully before end of next month.
because Dollar Rally has Been paused for now, $ is heavily over bought at this time, that means best best trades will be any Currency which has been very low Against dollar, and the reason i am Buying GBPJPY because i believe that in coming months we will see Yen at 123.00 and finally 124.50-125.00
and i am doing this from past Few Years and i don't even have Single Trade Closed in loss with Yen, i stopped Buying Yen pairs ( i mean Selling YEN) at,
EURJPY: 148.00
GBPJPY 184.00
CADJPY: 98.00
NZDJPY : 93.00
AUDJPY: 96.00
i stopped at those levels and will start buying again YEN pairs for now
i started with
Long EURJPY at 129.xx Final target 135.00
Long Gbpjpy at 179.00 Final Target 184.00
Buying on Dips these 2 YEN pairs for now.
Thank you.
both with 1:1 leverage and 2-3 open positions at a time so i can close any trade when i see it stopped Going up, and again buy at lower level. i am buying yen Pairs on DIPS from now on.
from 1-Jan 2013 to 12-December 2014 i only traded YEN pairs and it made me very very good profit only Buying Yen Pairs ( that means selling YEN)
you can check my Live account screen shot on my profile that is 2014-2015 trading portfolio where you can see in detail from which pair i made how much and in % also, i love Oanda Because their Statement is very very Detailed.
and with Oanda i can Avoid FIFO rule if i am buying same pair with different Lots,
anyways i am sorry please don't get me wrong, i am promoting any broker or anything just saying that it helps me close multiple positions at any time if i am trading same pair.

Green Pips to all..
Don't compare your Trades with Others
  • #412,125
  • Mar 23, 2015 8:47am Mar 23, 2015 8:47am
Quoting sakisf
{quote} GBP is overvalued compared to EUR. And that's all they care about. Their exposure to USD and GU fluctuation is much more limited and is the reason GU has been falling (to catch up EU). GBP can only rally a certain amount against EUR before becoming a liability and at this amount BoE would intervene to drop it even after a rate raise. As long as EU is falling due to QE and other EZ issues, GU would just be its shadow.
I agree with you to some extent, but I would add that GBP is overvalued compared to the EUR only as far as where the UK government would like it to be. Ultimately the market decides the fair value of a currency vs another and, as I was saying before, given that the yield on sterling is supposedly going higher and the yield on euro is going the opposite direction, an appreciation of sterling vs the eur has a solid fundamental basis at the moment. The same cannot be said for the Dollar to continue appreciating vs the GBP. Consider also that we know know that just like the BOE might be growing uneasy with Sterling strength (against the Euro), we know know from the last minutes that even the FED is not comfortable with the recent $ appreciation and has generally turned more dovish...if they were to take that one step further and eliminate the possibility of a rate hike this year what do you think it's going to happen to the USD after such a massive rally? In that scenario, you could even see EUR retrace quite a bit, GU rally along and maybe even eur/gbp retrace a bit to the upside, but in a limited measure
  • #412,126
  • Mar 23, 2015 8:48am Mar 23, 2015 8:48am
Quoting sgkrishn
{quote}
966 level should break
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,127
  • Mar 23, 2015 8:54am Mar 23, 2015 8:54am
Technically, the 4 hour chart shows that the pair bounced sharply after testing a bullish 20 SMA, whilst the Momentum indicator regained the upside and advances above the 100 level. The RSI indicator in the same time frame, stands directionless around 53. The immediate short term resistance stands at 1.4920, so a break above it should lead to a steadier advance, eyeing the 1.4960 price zone, whilst further advances above this last exposes the 1.5000 price zone. The mentioned daily low is the main intraday support, with a break below it probably leading to a test of the 1.4800 figure.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,128
  • Mar 23, 2015 8:56am Mar 23, 2015 8:56am
Quoting ez0770
{quote} I agree with you to some extent, but I would add that GBP is overvalued compared to the EUR only as far as where the UK government would like it to be. Ultimately the market decides the fair value of a currency vs another and, as I was saying before, given that the yield on sterling is supposedly going higher and the yield on euro is going the opposite direction, an appreciation of sterling vs the eur has a solid fundamental basis at the moment. The same cannot be said for the Dollar to continue appreciating vs the GBP. Consider also that...
That is the only way I see for GU going up too, EU raising to 1.20 to support a 1.60 in GU. But with QE going on in EUR area, this is very unlikely. EUR was already weakened in words of ECB (whatever it takes ) during last year's rally to 1.40, numbers & conditions could not support EUR that high, but it was impossible to drop because of USD QE. Now the situation is opposite, whatever FED will say, it will only cause ripples, then USD will resume strength vs EUR. The only way to have GU raise to previous levels (1.60+) while EU stays low, is to have a SNB kind effect by BoE, removing their 'invisible peg' vs EUR but that would hurt their economy for years to come.
  • #412,129
  • Mar 23, 2015 9:02am Mar 23, 2015 9:02am
false
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H1..11.gif Size: 154 KB
  • #412,130
  • Mar 23, 2015 9:11am Mar 23, 2015 9:11am
Quoting sakisf
{quote} That is the only way I see for GU going up too, EU raising to 1.20 to support a 1.60 in GU. But with QE going on in EUR area, this is very unlikely. EUR was already weakened in words of ECB (whatever it takes ) during last year's rally to 1.40, numbers & conditions could not support EUR that high, but it was impossible to drop because of USD QE. Now the situation is opposite, whatever FED will say, it will only cause ripples, then USD will resume strength vs EUR. The only way to have GU raise to previous levels (1.60+) while EU stays low,...
I think if the market eventually begins to perceive that, on the back of abysmal data and a strong dollar, the FED will not hike anytime in 2015, the profit taking on speculative long USD positions (which are at extreme levels) will be massive and we could certainly see EUR moving back towards 1.20 area, although I do not think that we necessarily need to see that level in the Euro for cable to go back to 1.60. The bottom line here is that given a weaker USD scenario, cable still has a more solid fundamental basis to rally than the Euro
  • #412,131
  • Mar 23, 2015 9:11am Mar 23, 2015 9:11am
Inserted Video


big players lol
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,132
  • Mar 23, 2015 9:17am Mar 23, 2015 9:17am
now pound should take the lead from now. lets see what happens??
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,133
  • Mar 23, 2015 9:28am Mar 23, 2015 9:28am
Quoting DubaiFX
{quote} thanks bro i appreciate your reply and i respect your advise, you are good trader, i have seen your posts before also, but i am confident as i said in my earlier posts i am buying Pound and now my Target is 1.5340 until then i will buy on dips. and i am doing it with both GBPUSD and GBPJPY. as you can see on my Trading, i bought from 1.4730 and still buying on dips. and i will do it until we see 1.5340 hopefully before end of next month. because Dollar Rally has Been paused for now, $ is heavily over bought at this time, that means best...

indeed i set all my targets near 1.53 but i already cashed, re entered, re cashed, re entered, re cashed now holding with stops in profits so will let it run unless i see a dramatic change in setups (which still can happen anytime...).

about yen pairs... i was heavily selling yen when in the strong move up from lows till 110 maybe then i left for a while... from a certain point of view, i lose confidence when i see such a straight move in one direction.

i will probably focusing on GBP this and next quarter. favorite cross gpb nzd and gbp aud. but also cable has an interesting outlook forming and could be in retrace mode in daily - weekly with a possible move to 1.57 and 1.60.

time will tell! as always.....
90% of traders use TA, indicators and prediction
  • #412,134
  • Mar 23, 2015 9:43am Mar 23, 2015 9:43am
next level to be conquered for further continuation up is the 1.4980.

Attached Image (click to enlarge)
Click to Enlarge Name: cable1d.PNG Size: 60 KB


can be today's candle.
or during this week... or next one...
even never
90% of traders use TA, indicators and prediction
  • #412,135
  • Mar 23, 2015 10:08am Mar 23, 2015 10:08am
Quoting _BBKing_
{quote} yes as i said earlier... 2.08 even 2.1 even higher! i'm just waiting for quarterly chart to tell the story can close end of march straight higher or around these levels 1.99-2.02
i meant if it went there i will start selling GBPNZD not before, i can wait but at this level 1.96 it can go both ways its risky in my Opinion so i am not trading.
Don't compare your Trades with Others
  • #412,136
  • Mar 23, 2015 10:28am Mar 23, 2015 10:28am
5000 is coming
  • #412,137
  • Mar 23, 2015 10:39am Mar 23, 2015 10:39am
Quoting kk300
5000 is coming

  • #412,138
  • Mar 23, 2015 10:52am Mar 23, 2015 10:52am
Quoting kk300
5000 is coming
yup i believe in that if today open is breached then it may happen soon.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #412,139
  • Mar 23, 2015 10:59am Mar 23, 2015 10:59am
london fix
  • #412,140
  • Mar 23, 2015 11:10am Mar 23, 2015 11:10am
Quoting sgkrishn
now pound should take the lead from now. lets see what happens??
If CPI print negative figure tomorrow???
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