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Cable Update (GBPUSD)

  • #435,241
  • Jul 27, 2016 9:16am Jul 27, 2016 9:16am
Quoting Mayly-May
any possible to see 1.4 G/U on FFR? (Federal Funds Rate)
it might but we will find out with PA after it fills the GAP. For now it is asking for a new H1 low at 1.3056 before a smooth up ride because GCAD and GCHF have already made H1 top formations and GNZ and GJ are carving out H1 top formations. I would probably buy after market makes new H1 Low. Lets see what happens.
Trading Eternal...... Shiny & Chrome!!!!
  • #435,242
  • Jul 27, 2016 9:23am Jul 27, 2016 9:23am
Quoting Mayly-May
{quote} 1.34 - 1.35 can possible?
Post FOMC: Dont want to be hero or anything but, to me chances are for the drop first followed by upward prices hike. In days to come yes, 1.3300 is kind of in the scene. How far above is possibe? Can't say...

Disclaimer: Above are my personal views and 99% of the times I'm proven wrong
--- only constant in this world is change ---
  • #435,243
  • Jul 27, 2016 9:23am Jul 27, 2016 9:23am
Quoting iamawaited
{quote} it might but we will find out with PA after it fills the GAP. For now it is asking for a new H1 low before a smooth up ride because GCAD and GCHF have already made H1 top formations and GNZ and GJ are carving out H1 top formations. I would probably buy after market makes new H1 Low. Lets see what happens.
thank you 21 day i'm holding haha
  • #435,244
  • Jul 27, 2016 9:27am Jul 27, 2016 9:27am
Quoting iamawaited
{quote} it might but we will find out with PA after it fills the GAP. For now it is asking for a new H1 low at 1.3056 before a smooth up ride because GCAD and GCHF have already made H1 top formations and GNZ and GJ are carving out H1 top formations. I would probably buy after market makes new H1 Low. Lets see what happens.
do u mind we talk at yuddy777at gmail dot com?
  • #435,245
  • Jul 27, 2016 9:45am Jul 27, 2016 9:45am
Quoting iamawaited
{quote} it might but we will find out with PA after it fills the GAP. For now it is asking for a new H1 low at 1.3056 before a smooth up ride because GCAD and GCHF have already made H1 top formations and GNZ and GJ are carving out H1 top formations. I would probably buy after market makes new H1 Low. Lets see what happens.
i appreciate ur classic predictions, whats your predictions for GJ, broh?
  • #435,246
  • Jul 27, 2016 10:43am Jul 27, 2016 10:43am
Double bottom on GBP USD with 1.3050 as the support?

If Fed doesn't raise rates which has 76% chances are we in for a rally on GBPUSD??

or

BOE QE Plans for GBP in August will make it head to 1.2870??


Answer would be in F O M C

2hr 17minutes ...

(Stay Tuned)
Scoobi doobi doo
  • #435,247
  • Jul 27, 2016 10:44am Jul 27, 2016 10:44am
Quoting Lock
.... 3094 3078 and 30735 are still clear possible targets for upcoming pit session. Even though they have already been taken out by gb session, pit session is a different thing made of different partecipants to the market.
3094 taken out while 3078 tagged again. 3078 looks now extraordinarily weak.

Quoting Lock
...But watch out! The periods are very narrow, we are before a major news, close to a very prominent composite poc and above 3 very weak references untouched by pit session. Obviously I'm reasoning in terms of odds so everything is possible anyway. But a rally from here without removing all that staff below and before this news has not the odds in its favour. But if so, remember the refereces below and carry this information forward for the next days.
as you see.
Ubi maior minor cessat
  • #435,248
  • Jul 27, 2016 10:46am Jul 27, 2016 10:46am
Quoting Lock
{quote} 3094 taken out while 3078 tagged again. {quote} as you see.

Are you GBP Pitbull??
Scoobi doobi doo
  • #435,249
  • Jul 27, 2016 10:50am Jul 27, 2016 10:50am
Bullish
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #435,250
  • Jul 27, 2016 10:50am Jul 27, 2016 10:50am
Quoting yuddy
{quote} i appreciate ur classic predictions, whats your predictions for GJ, broh?
you can easily PM me instead of posting here. here is what i think......
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 26 KB
Trading Eternal...... Shiny & Chrome!!!!
  • #435,251
  • Jul 27, 2016 10:53am Jul 27, 2016 10:53am
Quoting Scoobidoobi
{quote} Are you GBP Pitbull??
I don't know how to interpret your statement. Please explain.
Ubi maior minor cessat
  • #435,252
  • Edited 11:40am Jul 27, 2016 11:29am | Edited 11:40am
A little recap.

Above pit left behind:

  1. 31186 go no go level pit bracket low TAG taken out after some minutes (+1 gmt 18:38 edit)
  2. 31258 current pit session open TAG
  3. 31274 yesterday pit unch TAG
  4. 3142 current pit poor high

while below are still unsolved:

  1. 3080 current low (2 pip above 3078 07.22 pit poor low)
  2. 30735 07.19 pit poor low
  3. an old pit gap up down to 30145
  4. 29715 07.12 Sydney poor low
  5. 2946 lowest major composite poc

Ubi maior minor cessat
  • #435,253
  • Edited 12:19pm Jul 27, 2016 12:03pm | Edited 12:19pm
Quoting Lock
A little recap. Above pit left behind...c
update
Above pit left behind:

  1. 31186 go no go level pit bracket low TAG taken out
  2. 31258 current pit session open TAG taken out
  3. 31274 yesterday pit unch TAG taken out
  4. 3142 current pit poor high

if it rally from here (not probable considering the upcoming news and the unsolved refs below) major far up targets are:

  1. 3192-3220 gb 07.22 minus development
  2. 3226 upper big composite poc
  3. 3480 zone as a last upper reference (Tokyo 07.15 poor hgh and GB 07.14 Back to Back with 06.30 pre US high)

while below are still unsolved:

  1. 3080 current low (2 pip above 3078 07.22 pit poor low)
  2. 30735 07.19 pit poor low
  3. an old pit gap up down to 30145
  4. 29715 07.12 Sydney poor low
  5. 2946 lowest major composite poc

Ubi maior minor cessat
  • #435,254
  • Jul 27, 2016 12:36pm Jul 27, 2016 12:36pm
Quoting Lock
{quote} if it rally from here....(not probable considering the upcoming news and the unsolved refs below)...
Now if market will wait without moving untill the news everything could happen. Even a rally from here. We are in a full balance environment, weak targets below, weak targets above, no conviction in any direction.
Ubi maior minor cessat
  • #435,255
  • Jul 27, 2016 1:09pm Jul 27, 2016 1:09pm
'The Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run.'

'Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; James Bullard; Stanley Fischer; Loretta J. Mester; Jerome H. Powell; Eric Rosengren; and Daniel K. Tarullo. Voting against the action was Esther L. George, who preferred at this meeting to raise the target range for the federal funds rate to 1/2 to 3/4 percent.'

**********************

The key bits from the statement.

I think the wording is shocking in the first sentence.

I decipher as near term expect no change of interest rate but in the future expect gradual increases. 1 member interestingly voted for 0.5 rate increase
  • #435,256
  • Jul 27, 2016 1:11pm Jul 27, 2016 1:11pm
Quoting Lock
{quote} Now if market will wait without moving untill the news everything could happen. Even a rally from here. We are in a full balance environment, weak targets below, weak targets above, no conviction in any direction.
Overnight Tokyo high at 31605 tested and then back in to balance. Pit poor high removed. If we remain here below it (31605) targets down side are now possible. (note that current move tagged 3100 round number that is now weak). We are now at 3134 main composite poc. Btw I'm very happy to be not involved in such a mess. Incredibly bad environment here.
Ubi maior minor cessat
  • #435,257
  • Jul 27, 2016 1:16pm Jul 27, 2016 1:16pm
Euro and Pound did not move up because of these words....

The Fed had an opportunity to kill expectations of hikes, but with all the positive comments here and adding in a line about lower near-term risks, they certainly give themselves a chance to signal a hike in September if the data continues to improve.

I'm lost for words...LOL
Don't Leave Money on the Table
  • #435,258
  • Jul 27, 2016 1:17pm Jul 27, 2016 1:17pm
So the currency wars continue.....we should of easily have seen 3300 with that decision
Don't Leave Money on the Table
  • #435,259
  • Jul 27, 2016 1:18pm Jul 27, 2016 1:18pm
We all know it is impossible to hike on Sept since there is an election


Quoting HaLBot
Euro and Pound did not move up because of these words.... The Fed had an opportunity to kill expectations of hikes, but with all the positive comments here and adding in a line about lower near-term risks, they certainly give themselves a chance to signal a hike in September if the data continues to improve. I'm lost for words...LOL
  • #435,260
  • Jul 27, 2016 1:19pm Jul 27, 2016 1:19pm
I'm long bias on this pair for now.

Key level is the weekly pivot 1.3164.
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