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Cable Update (GBPUSD)

  • #424,761
  • Feb 21, 2016 12:53pm Feb 21, 2016 12:53pm
Quoting Dano12
http://www.zerohedge.com/news/2016-0...-bojo-backlash
And for you, where will the gold at opening?
  • #424,762
  • Feb 21, 2016 1:03pm Feb 21, 2016 1:03pm
I don't know about that I wouldn't be longing that chart just yet ,its gonna move lower could be ugly move ,like the last
but what about usd on the cot ?

Quoting gfscapital
{quote} EURUSD, as expected, made a correction from 1.13550 towards 1.11 and closed the week at 1.1130. The chart looks very bullish and the price is approaching a major support former resistance around 1.1030. I expect this market to move higher in the coming weeks. Looking at C.O.T data, the same pattern continues. Non-commercial traders keep covering their short exposure and add long contracts. They covered 15.7K short positions and longs remained flat week over week. This group now holds over 113K long contracts vs 162K short positions. This...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,763
  • Feb 21, 2016 1:12pm Feb 21, 2016 1:12pm
obvious question is then ,where then do you see eur gbp going,
short cable ,long eu

Quoting gfscapital
{quote} EURUSD,cts. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,764
  • Feb 21, 2016 1:27pm Feb 21, 2016 1:27pm
Lol at GBP/JPY, id be pissed if I was holding longs after that rally late on Friday
Closed my cable longs at 1.4350 so I was more than safe
  • #424,765
  • Feb 21, 2016 1:28pm Feb 21, 2016 1:28pm
Nice one Boris hey -

Boris Johnson says UK is better off outside the EU
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  • #424,766
  • Feb 21, 2016 1:29pm Feb 21, 2016 1:29pm
Quoting Don96
Lol at GBP/JPY, id be pissed if I was holding longs after that rally late on Friday Closed my cable longs at 1.4350 so I was more than safe
Way to go there Don .. trader
  • #424,767
  • Feb 21, 2016 1:32pm Feb 21, 2016 1:32pm
Quoting dean1star
{quote} Way to go there Don .. trader
You still in longs ? :0
  • #424,768
  • Feb 21, 2016 1:51pm Feb 21, 2016 1:51pm
It's fun to see how everybody said oh see its gonna go up to 1.47 and even more!!!! (facepalm) lot of talks going on..you will see this up and down until the referendum.
  • #424,769
  • Feb 21, 2016 2:28pm Feb 21, 2016 2:28pm
My weekly outlook for Cable


GBPUSD: 4h - Daily view
GBPUSD traded lower this week again. The down move continued from 1.45 and Cable closed the week at 1.4380. I see descending channel is forming on daily charts. This is usually a bullish sign. Looking at stochastics, we see oversold levels too. The combination of these two factor could provide good environment for bulls in the coming week.

GBPUSD: 15-30 min view
On intraday charts Cable moved lower and tested few times 1.4250. It looks very bearish for now but as I mentioned last week, I think the downside could be limited from here. Cable is showing signs of reversal. COT data suggests, there could be some upwards pressure. The critical level for the breakout will be 1.4426. This is an upper border of descending channel/flag. We could see USDGBP dropping from there or the break to the upside would provide a long entry of retracements towards the same, upper border
As I keep my long bias, I think, the potential to the downside is limited. I will skip short entries and will look for long opportunities. Bears might argue otherwise.
Bulls @ 1.4430 after breaking the upper border
Bears @ 1.4430 with small SL.
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  • #424,770
  • Feb 21, 2016 2:44pm Feb 21, 2016 2:44pm
Quoting Bones
obvious question is then ,where then do you see eur gbp going, short cable ,long eu {quote}
Going on the basis of normal pair correlation, EURGBP should shoot up. However, as I guess is the point of your post, this is somewhat of an unusual situation.

I won't be trading it myself, but I'd guess that every currency will strengthen against GBP until something is resolved. If there's one thing that markets do not like, it is uncertainty.

Sell GBP on the peaks will be my strategy, until further notice.

Hope everyone has had a relaxing weekend.
  • #424,771
  • Feb 21, 2016 2:51pm Feb 21, 2016 2:51pm
Quoting dean1star
Nice one Boris hey - Boris Johnson says UK is better off outside the EU {image}

Boris would have been short GBP from Friday, in anticipation of this morning's comments.
It's a big game.
  • #424,772
  • Feb 21, 2016 2:53pm Feb 21, 2016 2:53pm
Hi L ,well I don't take much time off ,gap down into support ,volatility yes ,lets see luckily I never held long straight away I'm looking up


Quoting Luzbay
{quote} Going on the basis of normal pair correlation, EURGBP should shoot up. However, as I guess is the point of your post, this is somewhat of an unusual situation. I won't be trading it myself, but I'd guess that every currency will strengthen against GBP until something is resolved. If there's one thing that markets do not like, it is uncertainty. Sell GBP on the peaks will be my strategy, until further notice. Hope everyone has had a relaxing weekend.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,773
  • Feb 21, 2016 2:57pm Feb 21, 2016 2:57pm
everything happens for a reason ,lets see
way i view gap first is into support/res or over support /res ,then will that hold day 1

Quoting funzodundee
{quote} Boris would have been short GBP from Friday, in anticipation of this morning's comments.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,774
  • Feb 21, 2016 3:33pm Feb 21, 2016 3:33pm
Quoting Bones
Hi L ,well I don't take much time off ,gap down into support ,volatility yes ,lets see luckily I never held long straight away I'm looking up {quote}
​Yeah I'm only seeing long, this news about Borris and brexit is just a short term move, there wont be too much on this until the actual referendum...
  • #424,775
  • Feb 21, 2016 3:37pm Feb 21, 2016 3:37pm
That Boris was voting for out is not really a suprise here in the island, so this is not really newsworthy.
  • #424,776
  • Feb 21, 2016 3:39pm Feb 21, 2016 3:39pm
Quoting Dalchow
That Boris was voting for out is not really a suprise here in the island, so this is not really newsworthy.
Not too sure it isn't newsworthy as it has had a massive impact in the weekend movement of the currency...
  • #424,777
  • Feb 21, 2016 3:43pm Feb 21, 2016 3:43pm
Quoting avibe
Pound falling like crazy. Over 150pips down {image} {image}
http://www.xe.com/currencyconverter/...rom=GBP&To=USD check it here ,
  • #424,778
  • Feb 21, 2016 3:43pm Feb 21, 2016 3:43pm
Quoting Don96
{quote} You still in longs ? :0
No trade as yet prefer to wait for the trade to come to me if that makes sense ..
  • #424,779
  • Feb 21, 2016 3:45pm Feb 21, 2016 3:45pm
if that has fell that much , there will be a big gap it think , so buy the gap on opening , if there is one
  • #424,780
  • Feb 21, 2016 3:46pm Feb 21, 2016 3:46pm
Quoting funzodundee
{quote} Boris would have been short GBP from Friday, in anticipation of this morning's comments.
For sure him and his mates lol ..
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