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Cable Update (GBPUSD)

  • #417,381
  • Jul 22, 2015 1:56am Jul 22, 2015 1:56am
~1.566 is the three-month fall line. Expect very heavy resistance in that area.

Also, the previous long moves through the rising channel have had much more direct impetus than this move has had. In fact, it is drawn-out and sluggish.
I set my take profit longs at the fall line and have a small sell order just on top of that price. Looking for a chopping range to develop, or a much stronger sell-off. We shall see what the MPC has to say at their announcement.

  • #417,382
  • Jul 22, 2015 2:00am Jul 22, 2015 2:00am
Quoting Orly
~1.566 is the three-month fall line. Expect very heavy resistance in that area. Also, the previous long moves through the rising channel have had much more direct impetus than this move has had. In fact, it is drawn-out and sluggish. I set my take profit longs at the fall line and have a small sell order just on top of that price. Looking for a chopping range to develop, or a much stronger sell-off. We shall see what the MPC has to say at their announcement.

support and resistance are made to be broken.
  • #417,383
  • Jul 22, 2015 2:03am Jul 22, 2015 2:03am
interesting thought , not seen 5660 but will have a look , regards E
  • #417,384
  • Jul 22, 2015 2:07am Jul 22, 2015 2:07am
Quoting arinforex
{quote} support and resistance are made to be broken.
Don't forget the risk trends.
Apple sold off after hours pretty hard, IBM and others are reeling from bad prints, Mr. Softy reported its biggest loss ever, etc.

Fear could bring a new risk-on/risk-off theme to trading. It will be interesting to see how the yen operates in that environment, now that its safe-haven status has been sold on the altar of inflation.

  • #417,385
  • Jul 22, 2015 2:15am Jul 22, 2015 2:15am
GBPUSD trades near the 1.5610-30 important resistance area ahead of BoE Minutes, if there are policy makers favoring interest rate change the pair could immediately rally to 1.5780 zone. On the downside, 1.5550-30 becomes immediate support.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 33 KB
  • #417,386
  • Jul 22, 2015 2:15am Jul 22, 2015 2:15am
true , 1 has price just been , priced in before news ?? 2 news is red then cable kills you off if your open long, to lets say 5573 ???. emas are long for now only month still shows short, so this gives scope to range . just my opinion , regards
  • #417,387
  • Jul 22, 2015 2:27am Jul 22, 2015 2:27am
In case you haven't seen it:
http://news.forexlive.com/!/preview-...eting-20150722
  • #417,388
  • Jul 22, 2015 2:33am Jul 22, 2015 2:33am
can someone provide a good guide for me. i took long at 1.5560 but i had no idea where to take profit as well as the stop loss. =\
  • #417,389
  • Jul 22, 2015 2:34am Jul 22, 2015 2:34am
Quoting Orly
In case you haven't seen it: http://news.forexlive.com/!/preview-...eting-20150722
that reads like a weather report, sunny with some cloud and a chance of rain, thunder and lightning cant be ruled out but staying warm in the sun ????,lol
  • #417,390
  • Jul 22, 2015 2:40am Jul 22, 2015 2:40am
Quoting elbert3
{quote} that reads like a weather report, sunny with some cloud and a chance of rain, thunder and lightning cant be ruled out but staying warm in the sun ????,lol
Of course! They're central bankers!

The point is that there could easily be two votes to begin to normalise rates...maybe three. That would send Cable on a tear, however briefly. After US open, there will be housing data, which has been known to move the market, especially when they are already spooked.

It is going to be an interesting day.

  • #417,391
  • Jul 22, 2015 2:41am Jul 22, 2015 2:41am
Quoting Fx_Anil
GBPUSD trades near the 1.5610-30 important resistance area ahead of BoE Minutes, if there are policy makers favoring interest rate change the pair could immediately rally to 1.5780 zone. On the downside, 1.5550-30 becomes immediate support. {image}
Not yet, lets give it till Q4/2015 for slow start of shift
"I know one thing, that I know nothing." Sokrates
  • #417,392
  • Jul 22, 2015 2:48am Jul 22, 2015 2:48am
flat target hit but did not take the long off it, ?? big buys and sells in that 5 min chart, wait and watch , might long break out
  • #417,393
  • Jul 22, 2015 2:57am Jul 22, 2015 2:57am
SELL
1.5616
Stake
Stop
1.5620
([COLOR=#EC174A !important]–[/color]/[COLOR=#0076C0 !important]–[/color])
Guaranteed Stop
Set Trailing Stop
Limit
([COLOR=#EC174A !important]1.5573[/color]/[COLOR=#0076C0 !important]1.56721[/color])P/L £[COLOR=#0076C0 !important]218.00[/color]
Hedging
Margin required for trade:
735.00 GBP

4 pip sl
  • #417,394
  • Jul 22, 2015 3:01am Jul 22, 2015 3:01am
Doji (ish) daily candle yesterday[ $ was strongly bullish] and a big spurt up today so far..4hr rising t/line holds....the rise finding offers in that former 1hr/4hr swing hi zone before finding demand on the pullback in the former 1hr/4hr swing hi zone below it - ie resistance turns to support at the 38.2% of the move up. Uk event risk at 0930am uk time. Falling 4hr/daily trend line just above present daily hi. Get thru this former 1hr/4hr swing hi to 5627 and the falling trend line and the former 4hr/daily one awaits to 5674-last week's hi.

best wishes
Attached Image(s) (click to enlarge)
Click to Enlarge Name: z.jpg Size: 108 KB
Click to Enlarge Name: zz.jpg Size: 105 KB
it's all gone a bit........
  • #417,395
  • Jul 22, 2015 3:04am Jul 22, 2015 3:04am
hello all cable trader, today we will have bank vote, it should be very whipsaw, but for me the pair is bullish now, anyone wants to go long?
  • #417,396
  • Jul 22, 2015 3:13am Jul 22, 2015 3:13am
unlikely I know but if there is a surprise in the Boe MPC minutes due out in 15mins or so there will be a reaction ...I was pondering earlier in week in light of carney's comments re a rate hike before y/e whether anyone had actually voted for one, so 2-0-7, or 1-0-8 is a possibility re the rate vote ? Expect a big move up particularly if 2-0-7 ?

best wishes.
it's all gone a bit........
  • #417,397
  • Jul 22, 2015 3:32am Jul 22, 2015 3:32am
finally they moved
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_H1.gif Size: 215 KB
  • #417,398
  • Jul 22, 2015 3:34am Jul 22, 2015 3:34am
SELL
1.5640
Stake
Stop
1.5670
([COLOR=#EC174A !important][/color]/[COLOR=#0076C0 !important][/color])
Guaranteed Stop
Set Trailing Stop
Limit
([COLOR=#EC174A !important]1.55543[/color]/[COLOR=#0076C0 !important]1.56721[/color])P/L [COLOR=#0076C0 !important]1,218.00[/color]
Hedging
Margin required for trade:
735.00 GBP

all talk 5415
Attached Image (click to enlarge)
Click to Enlarge Name: 1b.png Size: 48 KB
  • #417,399
  • Jul 22, 2015 3:34am Jul 22, 2015 3:34am
BoE: interest-rate voted 9-0 to keep interest rate unchanged
  • #417,400
  • Jul 22, 2015 3:38am Jul 22, 2015 3:38am
Quoting Dano12
BoE: interest-rate voted 9-0 to keep interest rate unchanged
and where will G/U go? up or down?
It's life let's live and enjoy
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