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Cable Update (GBPUSD)

  • #423,241
  • Feb 4, 2016 3:10am Feb 4, 2016 3:10am
Quoting elbert3
{quote} i was on the case early flipped on the 23% line, posted to bones last night , still careful look at last night 50 pip drop in mins and i missed it , hence the dp, call
Mine dp is @ 4537, we are @4650 now, a bit far unless we reverse here, could go much higher if not stop here.

I am still watching that weekly resistance from last year, weekly resistance is a wider band, so we might seeking levels up for some pips before drop. If cable ignore a previous multi-year weekly bottom, then I would just throw my hat and salute to this bi*ch
  • #423,242
  • Feb 4, 2016 3:11am Feb 4, 2016 3:11am
Quoting Darkforce
{quote} Hi E, can't fight the trend, no matter how long it will last. Current trend is strong, just sell USD safest bet until we start losing money.
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my broker email was 4660 longest trade number so tp and watch the bottom line
  • #423,243
  • Feb 4, 2016 3:14am Feb 4, 2016 3:14am
Quoting Darkforce
{quote} Mine dp is @ 4537, we are @4650 now, a bit far unless we reverse here, could go much higher if not stop here. I am still watching that weekly resistance from last year, weekly resistance is a wider band, so we might seeking levels up for some pips before drop. If cable ignore a previous multi-year weekly bottom, then I would just throw my hat and salute to this bi*ch
todays email if it is of any interest to anybody,,, but play your own trade
GBPUSD
Bullish above 1.4515.

Super Thursday…

UBS: ‘Not all of the developments are necessarily downside news for UK output and inflation at the MPC's two and three year forecast horizons. The fall in sterling and a pairing in UK rate expectations could support UK growth over the next few years, if they persisted. Additionally the easing in pay growth is less than it appears optically, and while GDP growth has eased the unemployment rate continues to fall.
Still the Committee is likely to be anxious enough about the global outlook not to deviate much from its November projections for UK inflation. Those forecasts saw UK inflation above target in two and three years' time, but not by enough for the Committee to push too hard against market rate expectations. And beneath the headline is the risk that the EU referendum could have more significant impacts on the domestic economy. While the Committee's forecasts will likely continue to quietly imply that the market is not building in enough tightening, we believe now is not the time to turn up the volume.’

LCG: ‘The broad USD weakness pushed Cable in the bullish consolidation zone just before the BoE verdict and the QIR due today. Cable rallied to 1.4649 in New York yesterday, mostly on the back of an aggressive USD sell-off. Yesterday’s rise could rapidly be retraced depending on the level of dovishness from the QIR. From a purely technical perspective, the bullish break should find support at 1.4515 (minor 23.6% off Jan 21 low of 1.4080) before 1.4432 (major 38.2%). Above 1.4432, gains could extend to 1.4707/1.4775 (50% and 61.8% ext. with 1.4432 base). Sliding below 1.4432, the bullish appetite could rapidly fade to pull the air to 1.4365 (Fib 540% retrace) before 1.4297 (Fib 61.8%).’

Market price 1.4609
Bullish case: 1.4515 support, rise expected to 1.4660 before 1.4707 and 1.4775.
Bearish case: if 1.4515 broken drop to 1.4430 before 1.4365.
  • #423,244
  • Feb 4, 2016 3:27am Feb 4, 2016 3:27am
Quoting elbert3
{quote} todays email if it is of any interest to anybody,,, but play your own trade GBPUSD Bullish above 1.4515. Super Thursday… UBS: ‘Not all of the developments are necessarily downside news for UK output and inflation at the MPC's two and three year forecast horizons. The fall in sterling and a pairing in UK rate expectations could support UK growth over the next few years, if they persisted. Additionally the easing in pay growth is less than it appears optically, and while GDP growth has eased the unemployment rate continues to fall. Still the...
Hi E, the fashion of central bankers are the talking of "Negative rate", I am not sure if market has priced in such move from BOE yet, but if Carney & Co hints then it could be fun all over.
  • #423,245
  • Feb 4, 2016 3:32am Feb 4, 2016 3:32am
Quoting Hkr-wck
GBP/USD up, maybe +0,12 :-) {image}
:-)
Enter Signature
  • #423,246
  • Feb 4, 2016 3:34am Feb 4, 2016 3:34am
Look at the PA on LTF, there's no hesitation in buying any slightest dip, is the market knows something that we don't or is it just set up for a prop and pop game?
  • #423,247
  • Feb 4, 2016 3:47am Feb 4, 2016 3:47am
Quoting elbert3
{quote} todays email if it is of any interest to anybody,,, but play your own trade GBPUSD Bullish above 1.4515. Super Thursday… UBS: ‘Not all of the developments are necessarily downside news for UK output and inflation at the MPC's two and three year forecast horizons. The fall in sterling and a pairing in UK rate expectations could support UK growth over the next few years, if they persisted. Additionally the easing in pay growth is less than it appears optically, and while GDP growth has eased the unemployment rate continues to fall. Still the...
Great Post there Elbert kudos
  • #423,248
  • Feb 4, 2016 3:50am Feb 4, 2016 3:50am
sold at 1.4640 tp 1.4300 no sl ...
  • #423,249
  • Feb 4, 2016 4:02am Feb 4, 2016 4:02am
The pound reached 50% fib of recent down move, maybe that's it? If the longer timeframes picture is accurate, that could be the correction is over, just needs a trigger. We will know after 2 hours anyway.
  • #423,250
  • Feb 4, 2016 4:05am Feb 4, 2016 4:05am
Quoting Darkforce
Look at the PA on LTF, there's no hesitation in buying any slightest dip, is the market knows something that we don't or is it just set up for a prop and pop game?
After weak economic data coming from the US and global financial turmoil the market is repricing in a much more dovish Fed (less hikes or no hikes at all). This is a USD move, not cable specific. Arguably, the pair had been oversold throughout January and there's room to correct even higher. The big risk event for today is obviously the BOE in a couple of hours. For now we stopped at the 50% retracement of the drop that started in mid december....
  • #423,251
  • Feb 4, 2016 4:17am Feb 4, 2016 4:17am
Quoting dean1star
{quote} Great Post there Elbert kudos
Thanks DS glad you like something i post,,lol regards
  • #423,252
  • Feb 4, 2016 4:29am Feb 4, 2016 4:29am
Quoting Darkforce
{quote} Hi E, the fashion of central bankers are the talking of "Negative rate", I am not sure if market has priced in such move from BOE yet, but if Carney & Co hints then it could be fun all over.
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sorry been a bit busy lol
  • #423,253
  • Feb 4, 2016 4:34am Feb 4, 2016 4:34am
thin blue line now , if might go now ,
  • #423,254
  • Feb 4, 2016 4:37am Feb 4, 2016 4:37am
w 5 still
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  • #423,255
  • Feb 4, 2016 4:48am Feb 4, 2016 4:48am
Quoting Darkforce
{quote} Wave 5 is happening

yAP
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  • #423,256
  • Feb 4, 2016 4:53am Feb 4, 2016 4:53am
Quoting Dano12
w 5 still {image} {image}
Any condition that will invalidate current wave count? Falling below previous low?
  • #423,257
  • Feb 4, 2016 5:09am Feb 4, 2016 5:09am
Quoting Darkforce
{quote} Any condition that will invalidate current wave count? Falling below previous low?
i think i could tell you what has happened but i might look a dick,,,lol
been scalping little trades ,its just f,,,ing around , but we are in that 50% zone,
  • #423,258
  • Feb 4, 2016 5:13am Feb 4, 2016 5:13am
It broke above 1.4630 and I think it's quite possible to reach the next resistance at 1.4850.
  • #423,259
  • Feb 4, 2016 5:15am Feb 4, 2016 5:15am
HUGE bearish momentum and volume divergence on the H1 chart.

Is anyone on this play?
  • #423,260
  • Feb 4, 2016 5:27am Feb 4, 2016 5:27am
Quoting elbert3
{quote} i think i could tell you what has happened but i might look a dick,,,lol been scalping little trades ,its just f,,,ing around , but we are in that 50% zone,
1.4650 hold for now, ahead of BOE.

If BOE put negative rates and Brexit in their memo, that ka-boom we would go back to 1.4, let's watch the firework
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