Cable Update (GBPUSD)

If there was no GDP announcement tomorrow for the US I'd say this thing HAS to start turning around. But honestly GBP/USD is on such a rampage and with predictions of GDP shrinkage for the USD on the horizon, I think 1.55 is a fair possibility.

I colored it in red, what was wrong with your post.

Haha I actually edited my statement for a bit more clarity

News like the GDP will not change a trend , it may spike it for a good few hours and then the trend resumes, even if good for the US tomorrow, it wont change the overall trend on the daily chart ect..........So use the pull backs as a better price to enter long, just look back in history......

Just look at gbp news today, bad for sterling and it retraced the entire news candle and went higher (was I about to pull my longs out on the bad news??? not a chance in hell)......... Look to the bigger charts and forget about news, the only real news that affects the charts long term are the interest rates.... Even disasters like 911 and the Japanese Tsunami, did not change the trend.....

In saying that the GBP USD is just coming up on a daily area Happy trading all

noted can we say 5217 ??????????

spot o hence the day test 5171 and i went long ,,buy the next dip into main support or even when price passes interday support leave buy order and catch on the way up

GU H8 GMT+2

Nice hyperbolic movement! Bet toward!
Belt hold worked, now it is the time for bullish marubozu!
Buy limit triggered, another placed .5308...
seeming ~5580...

Good luck!

Hi K, CAN I ASK WHAT EMAS ARE YOU USING REGARDS E

of courese! 21,55,233... some fibs

Thanks out of interest i like your trading style i worked 6 months on trying to find emas that i am comfortable with so i just wanted to do more work on honing the entry's , i can see how you work then hope we can be of use together, but i am more scalp and try to get in asap were you can sit trades out,, regards off now good night ,, gl B

when it is trending, 21,55 are working well!
fib can found evreywhere in the nature, like in the market

once i agree with you,
i am holding my short positions from 1.5260 and added 1.5330 and will add more if tested 1.5380 that will be it and my final target will be 1.5100
and i am counting on it to me maximum 2 weeks, fed is very predictable now, and they have history of controlling the volatility of the market on FOMC minutes check past 6 months, maximum we saw was not even 100 pips specially with major pairs like EURUSD and GBPUSD USDJPY,
before that it was one time in past 9 months when it was more than 140 pips just once, and this time most people's prediction will be right so not much surprises there,
but it can happen, and after that market will shift on Pound,
look at it this way, if you see Pound last election made it drop 300 pips, and election is coming + with low GDP and 0 inflation pound will be going down very soon it is just matter of time, lets see how much Pound can get stronger before it drops, from past 7 days pound is going up that was because of US$ weakness in general, after FOMC give it little time and market will focus on many of few things i mentioned before,
i am putting a lot of money on this one, i am confident very..
AND PLEASE DON'T FOLLOW ME WITHOUT FIRST TALKING TO ME, BECAUSE LAST POST MENTIONED 80 PIPS MOVE BLEW SOMEONE'S ACCOUNT I DIDN'T HAVE ANY IDEA WHAT HE WAS DOING OR WHY, I DIDN'T EVEN MENTIONED WHAT BIG PLAYER'S INTENTIONS WERE.
IT WAS SELL ON GDP NEWS AND THEY PLAYED IT WELL + GBPJPY WAS BETTER NEARLY 100 PIPS DROP ON NEWS AND THAT WAS MORE THEN ENOUGH.
BUT I DIDN'T MENTIONED IT, + PLEASE DON'T GAMBLE WITH YOUR MONEY 80 PIPS MOVE WIPE OUT YOUR ACCOUNT WHO DOES THAT ONLY VERY VERY GREEDY PEOPLE, AS I SAID BEFORE '''FOREX IS NOT QUICK RICH FORMULA'' ITS ALL ABOUT MONEY MANAGEMENT WHICH IS VERY IMPORTANT IF YOU WANT TO SURVIVE IN THIS MARKET.
YOU HAVE TO BE PATIENT YOU HAVE TO ADMIT WHEN YOU ARE WRONG, DON'T MARRY A POSITION ON HOPES THAT IT WILL RETURN POSITIVE YOU NEVER KNOW ONE POSITION MAY CLEAN YOUR ACCOUNT IT CAN MOVE FOR 100'S OF PIPS EVERY DAY WITHOUT RETRACEMENT, SO BE READY FOR THAT, BE BIG PLAYERS ARE ALWAYS THERE TO TAKE YOUR MONEY, THERE IS A REASON BANKS, HEDGE FUNDS ETC MAKES MILLION EVERY YEAR EVEN ON MONTHLY BASIS ALSO BECAUSE THEY GOT MONEY IN THE TOP 10 LIST OF US HEDGE FUNDS THE FIRST ONE GOT 22 BILLION$ SO THEY CAN PLAY WITH 200 OR EVEN 500$ million trade, that was enough for gdp news time to shake the market when banks raise the spreads some are offering very very low price and some are offering even higher, we only see the combination of the price which banks are offering for example, one is offering 1.5200 and other is offering 1.5300 so we see 1.5250, but hedge funds deals directly with the banks in real time and not 1 they are connected to 10's of world's biggest banks, so they get much more better price then we see in our chart,
you didn't saw on GDP NEWS 1.5150 right did anyone saw???
and i mentioned before also that GDP will be weaker than forecast check it.
but someone got that price when sold heavily i promise you that. that is the game they play with retail traders like us,
anyways i hope you all will do good.
wish you all the best guys.
GOD BLESS YOU ALL.

you are RIGHT News Spike are sometimes temporary because big boys get IN and OUT very quickly as i said before it is mostly for 30-40 pips and they get it, so when they close their positions market moves back to its fair price most of the time, but sometimes they hold the positions for very long time believe on that, and i never go against the Big Player's they got bloody 50 and some time more analysts working for just one hedge fund, so i only do what they are doing. are doing and 8 out of 10 times they make money so do i. they were on buy from 1.47 so do i and i went along till 1.5260 then i don't have much info why they they shifted to sell Pound against many currencies specially YEN and SEK, so i am doing the same just sharing nothing else.
please don't follow me and if you do please Consult with me before you do, and i am trading more than 18 pairs so i can say i have very good idea where market might be heading, i can be wrong because that is what currency trading, some times you are right sometimes you are wrong what matters is end of the month or end of the year result in total if you made even 20-30% yearly you are very good trader according to many many analysis and hedge fund managers.

Good luck to you all.

UK gdp was bad but GBP went up may be its intervention before the election to show the people their currency stability, same type of intervention did by BOJ when Tsunami hit in japan .. or that UK GDP report was not very important than UK election rumor ...

i see you have it marked already as resistance. but isnt 1.545 the full extension of the move?

is this a setup for 1.55638?? or 1.58786?? is anyone thinking abt these levels???

morning yesterdays chart tp and short now off that 161%

short beware. it hasn't touched 1.5320 also today. I understand Japan was closed but the setup looks positive. I have shorted some as well but now looking to add to longs on upside.

as above sl and long to 5400 if the short fails