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Cable Update (GBPUSD)

  • #414,641
  • May 6, 2015 2:17am May 6, 2015 2:17am
Quoting kk300
{quote}
lol good man shhh dont tell,, regards
  • #414,642
  • May 6, 2015 2:19am May 6, 2015 2:19am
Quoting elbert3
{quote} lol good man shhh dont tell,, regards
yeah
  • #414,643
  • May 6, 2015 2:49am May 6, 2015 2:49am
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  • #414,644
  • May 6, 2015 2:50am May 6, 2015 2:50am
Quoting elbert3
supports 5213 5185/63. then could be 5030 ?? see if they hold before news, for me still buy the dip long order on the high
Morning guys. Elbert, did you get those supports in 5 - 10 -15 min or 1h? Thanks ( you have a high probability of accuracy when you post your comments
  • #414,645
  • May 6, 2015 2:53am May 6, 2015 2:53am
Quoting Dano12
{image}
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1st tl taken out 5185/77 ish ??5164 was the 4 hour bottom
  • #414,646
  • May 6, 2015 2:54am May 6, 2015 2:54am
euro/gbp on fire....
  • #414,647
  • May 6, 2015 2:55am May 6, 2015 2:55am
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  • #414,648
  • May 6, 2015 2:55am May 6, 2015 2:55am
For me only 1 zone remains uncovered (yellow fibs). Maybe just after the elections. Gonna give it 1-2 weeks to see if it covers it and then start shorting again.
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  • #414,649
  • May 6, 2015 3:13am May 6, 2015 3:13am
GBP/usd potentially oversold (near 80 pip drop in half an hour with no major news). Unless the services PMI data was leaked and is bad, I suspect we're going back up. Or maybe I missed some breaking news.

Of course, it could just be that the market just ran out of steam, but looking at price correlation with other pairs, they've started correcting against the USD at an awkward price range, which makes me suspicious.
  • #414,650
  • May 6, 2015 3:16am May 6, 2015 3:16am
Quoting HareshBM
{quote} In fact, a move back above 1.5200 was not expected. Hence, higher possibilities of a reversal back below 1.5150 level, possibly to 1.5120.
This was expected... Now wait for Services PMI release for further direction...
  • #414,651
  • May 6, 2015 3:18am May 6, 2015 3:18am
if Services PMI are bad and price breaks 50 ma @1.5148 (38.2FIB) I'll go sell.
1#target 1.5088
2#target 1.5032
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  • #414,652
  • May 6, 2015 3:22am May 6, 2015 3:22am
Quoting Vermillion
GBP/usd potentially oversold (near 80 pip drop in half an hour with no major news). Unless the services PMI data was leaked and is bad, I suspect we're going back up. Or maybe I missed some breaking news. Of course, it could just be that the market just ran out of steam, but looking at price correlation with other pairs, they've started correcting against the USD at an awkward price range, which makes me suspicious.

For the past few days lots of news have reverse impact on the currency
Seems like yeah it's leaked. The same happen on Aud yesterday
  • #414,653
  • May 6, 2015 3:23am May 6, 2015 3:23am
Quoting Vermillion
GBP/usd potentially oversold (near 80 pip drop in half an hour with no major news). Unless the services PMI data was leaked and is bad, I suspect we're going back up. Or maybe I missed some breaking news. Of course, it could just be that the market just ran out of steam, but looking at price correlation with other pairs, they've started correcting against the USD at an awkward price range, which makes me suspicious.
this is leaked.. just look at your M30 chart.. is about 1 hour ago cable is in separated direction with other basket currencies agains USD
  • #414,654
  • May 6, 2015 3:25am May 6, 2015 3:25am
probably sell the rumour buy the news coming - happened oppositely yesterday
  • #414,655
  • May 6, 2015 3:27am May 6, 2015 3:27am
Quoting bulltrader13
probably sell the rumour buy the news coming - happened oppositely yesterday

Let's hopefully so. I place blind bet on buy it for this time lol
Maybe touch around 1.512x and bounce back but let's see
  • #414,656
  • May 6, 2015 3:29am May 6, 2015 3:29am
Price come off the top back of the tl and now traded to the bottom 4 hour tl 5140ish support fail then could see the bottom or 61%ext
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  • #414,657
  • May 6, 2015 3:31am May 6, 2015 3:31am
Quoting jayzou
{quote} this is leaked.. just look at your M30 chart.. is about 1 hour ago cable is in separated direction with other basket currencies agains USD
Yeah, I know. It's also news from MARKIT, which I consider to be leaked a majority of the time. In fact, just last year, we've had insane degrees of outrageous markit data about Germany (completely against fundamentals and later proven false as well), and etc.

The only reason I say maybe is because I don't have concrete proof. It's one of the reasons why I just took profit at my longs at 1.519000 and just loaded then right near the bottom at 1.51513. Maybe it'll fail, but since now there's data that doesn't justify the recent price movement, I'd say it's a fair risk.

Lesson of the day: You can always trust Markit Economics to be untrustworthy.
  • #414,658
  • May 6, 2015 5:57am May 6, 2015 5:57am
Bears EUR USDfight for a double top but seeing the SP500 and possibly greater correction, correlations with U. J possible that we do waves of 5 now diagram

IF EU USD more UP on 5 GBPUSD push more UP
  • #414,659
  • May 6, 2015 6:59am May 6, 2015 6:59am
this i a bit mad to day in and out of tl,i have bigger targets long and short , but only scalping small lots ??? hope now 5200 will hold , add higher ?? emas are flat on the 4 hour but above the 200 and 100 a break over 52400 shold open up the long road , but then you look t below 200 ???
  • #414,660
  • May 6, 2015 7:05am May 6, 2015 7:05am
next resistance 15295 5340
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