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Cable Update (GBPUSD)

  • #445,761
  • Nov 25, 2016 3:32am Nov 25, 2016 3:32am
GU having trouble to hold over 2450, 2500 doesn't seem to have a chance. Looks like a break down towards 2190.
Everyone can see the chart, but only a few can actually read it.
  • #445,762
  • Nov 25, 2016 3:37am Nov 25, 2016 3:37am
Quoting dean1star
{quote} guess someone thought they had a bright idea at the time ...
Unbelievable!

No way! One can't give away something that great!!

Really disappointing!
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  • #445,763
  • Nov 25, 2016 3:38am Nov 25, 2016 3:38am
Quoting dean1star
Staying long on this pair since day before yesterday. NO reason yet to change.
same here..
  • #445,764
  • Nov 25, 2016 3:40am Nov 25, 2016 3:40am
By the way....

Cable stuck below 1.25

Building a future base there? Or is it a real resistance?

IMO, it's just testing supply force!

But as pre-cautional measure, I reduced my SL lines (I'm long) !
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  • #445,765
  • Nov 25, 2016 3:47am Nov 25, 2016 3:47am
Quoting OnlineAddict
GU having trouble to hold over 2450, 2500 doesn't seem to have a chance. Looks like a break down towards 2190.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 110 KB
Everyone can see the chart, but only a few can actually read it.
  • #445,766
  • Nov 25, 2016 4:34am Nov 25, 2016 4:34am
Quoting kitmouse
GBPUSD start going uptrend and I Ep at 1.237 (fibo 61.8) ..Mine take profit target at 1.273 (fibo 161.8) there..is there any ppl long it too ? {image}
Continue hold Gbpusd as already move up my stop loss Still looking target 1.273
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpeg Size: 600 KB
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  • #445,767
  • Nov 25, 2016 4:58am Nov 25, 2016 4:58am
Mr servere readies here may be new king of England.
Attached Image (click to enlarge)
Click to Enlarge Name: royal blood.jpg Size: 198 KB
FREEDOM IS SECURITY.
  • #445,768
  • Nov 25, 2016 5:35am Nov 25, 2016 5:35am
Queen could not comment as she was busy with house work.
"Just of to do some cleaning".
Attached Image
FREEDOM IS SECURITY.
  • #445,769
  • Nov 25, 2016 5:44am Nov 25, 2016 5:44am
Quoting OnlineAddict
{quote} {image}
Agree

Been slightly underwater on a Short GU trade for the last day or so but hoping that it breaks down through 2450 either this morning or when the US comes online
  • #445,770
  • Nov 25, 2016 5:50am Nov 25, 2016 5:50am
If price remain high on London open after newyork open will consider sell if above 1.2489.
FREEDOM IS SECURITY.
  • #445,771
  • Nov 25, 2016 7:21am Nov 25, 2016 7:21am
2016/11/25 FRIDAY 14:12 +1GMT (edited untill 14:19)
EARLY AFTERNOON REPORT
Ubi maior minor cessat
  • #445,772
  • Nov 25, 2016 8:15am Nov 25, 2016 8:15am
Is there a good available support where to buy this thing?

I mean.. to me, it looks like price will develop this way:

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_4 Hours_snapshot.png Size: 28 KB


Of course, as always stop loss will protect from downside risk. Maybe wednesday's lows?!
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  • #445,773
  • Nov 25, 2016 9:08am Nov 25, 2016 9:08am
Quoting _BBKing_
Is there a good available support where to buy this thing? I mean.. to me, it looks like price will develop this way: {image} Of course, as always stop loss will protect from downside risk. Maybe wednesday's lows?!
Anything is possible
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  • #445,774
  • Nov 25, 2016 9:29am Nov 25, 2016 9:29am
Quoting _BBKing_
Is there a good available support where to buy this thing? I mean.. to me, it looks like price will develop this way: {image} Of course, as always stop loss will protect from downside risk. Maybe wednesday's lows?!
The daily pivot S1 line is down around 1.2405, but they've been trying, unsuccessfully, to beat this below 1.2430 for about an hour - if they don't do it very soon - next 15 minutes or so, I'd expect them to push higher from here, and if they get it above 1.2450, then that's going to be the new support level.
Writer, currency trader, madman
  • #445,775
  • Nov 25, 2016 10:49am Nov 25, 2016 10:49am
Quoting jbmaverick
{quote} The daily pivot S1 line is down around 1.2405, but they've been trying, unsuccessfully, to beat this below 1.2430 for about an hour - if they don't do it very soon - next 15 minutes or so, I'd expect them to push higher from here, and if they get it above 1.2450, then that's going to be the new support level.
well,

looks like it is going neither up nor down.

also, considering larger TFs (>weekly) looks like we will not go that far from these levels anytime soon......
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  • #445,776
  • Nov 25, 2016 10:58am Nov 25, 2016 10:58am
A stronger demand would have pushed price at least near last week's open.
While we ended stuck (unless a blink move now up 100-150pips in few hours ) between the 1.25 and 1.24.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Weekly_snapshot.png Size: 7 KB


If anything, this weekly setup opens for both possibilities buy / sell confirming there is a lot of uncertainty around.
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  • #445,777
  • Nov 25, 2016 11:17am Nov 25, 2016 11:17am
We shouldīt expect rallies from now on, until 13/14 December (1,20-1,26/8 box). Interest rate decision will define the mid-long term of the pair. I can read lots of news, trying to delay, hide and dilute the real situation about BREXIT. Pound will lose power yes, or yes. It is just a time question. UK will have less money, more debt and slower economy during next years. Itīs a huge black hole.
  • #445,778
  • Nov 25, 2016 11:56am Nov 25, 2016 11:56am
Quoting pipsandbits
We shouldt expect rallies from now on, until 13/14 December (1,20-1,26/8 box). Interest rate decision will define the mid-long term of the pair. I can read lots of news, trying to delay, hide and dilute the real situation about BREXIT. Pound will lose power yes, or yes. It is just a time question. UK will have less money, more debt and slower economy during next years. Its a huge black hole.

uhm.. I have a sligthly different view.

My point is simple: even before the brexit vote, the UK was not involved in the EURO thing. Of course, the fact gave a strong push down on GBP rates and UK markets but that's just how things work. Reality IMO is that UK will keep its economic overall situation, and eventually they will be able to manage and solve any future situation without having to pass from the stubborn EU politicians, whose are not even able to manage the actual disastrous situation going around, showing AGAIN what the real situation is... a perfect instability ready to implode anytime.

GDP, debt, growth and so on... well, being in the EU or not will not affect UK economy.

Interest rates hike in the US next month? Long story there. Market lived last months betting on the hike scenario and the USD indeed is really at a strong rate (due to the EU going its natural way down, and the UJ being pumped) while the GBP erased completely the dirty move reaching again 1.2670.

I don't live in the UK and I don't know how the thing is told there, but here it looks like the UK is an evil, escaping from the paradise EU, from the stability, from the perfect world. Countless reports showing how the UK economy will be a failure in next years without mum EU. While facts tell the truth: the Europe is not working, and the probabilities to implode are increasing every year (Euro rates tell the truth).

There will certainly be moves down in the GBP in the near future, maybe testing again the 1.20.
But let's not forget we are speaking about what still is and will probably keep being one of the best economies around here, with strong possibilities to recover this fall and move GBP rates back to the 1.30 and 1.40 area in the long term.
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  • #445,779
  • Nov 25, 2016 1:01pm Nov 25, 2016 1:01pm
some very good points/charts BB,
from my point of view that weekly is bear failure rather than bull ,with a possible test of break down on cards ,also would be great to test the low again as you say

Quoting _BBKing_
A stronger demand would have pushed price at least near last week's open. While we ended stuck (unless a blink move now up 100-150pips in few hours ) between the 1.25 and 1.24. {image} If anything, this weekly setup opens for both possibilities buy / sell confirming there is a lot of uncertainty around.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #445,780
  • Edited 4:13pm Nov 25, 2016 1:25pm | Edited 4:13pm
my low is different to BBs ,but I'm thinking theres a tl there ,also even eu would pull up on w1 ,have to see the open

eu higher risk ?

Quoting Bones
to believe the last w1 you have to see sell orders under the open today is Wednesday {image}
Quoting Bones
very tempted to say thats the tl i been looking for ,rather than the obvious which broke ,could easy see cable at zone of break down bullish off previous high like that could make w1 false ,daily true ,monthly true maybe another touch yet needed {image}
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1 w1 USD (DFB).png Size: 46 KB
Click to Enlarge Name: 1 eu w1 USD (DFB).png Size: 19 KB
Click to Enlarge Name: 1 d1 USD (DFB).png Size: 51 KB
Click to Enlarge Name: 1 d1 2 USD (DFB).png Size: 39 KB
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