Cable Update (GBPUSD)

GBPUSD M1 price will continue going higher ..

Nice one dragon expert - just closed the second long at 127 for 100 pips ..
waiting now to see how it plays out thinking higher still ..

this chart is definitely whispering in my ear on a monthly

maybe there's info within like
don't get involved gbp cad for the moment could have trouble finding direction
if this sells off the last open prior is probably strong
don't forget the open were in now 2 weeks old

DONE £££££

hello i am verry happy today / now open sell

Glad to hear that you are happy today! What is your reason for sell entry and what are your SL/TP targets?

[quote=Gigant;9348109]hello i am verry happy today / now open

5MIN PROFITS 1.26800 FIRST TRGT

Shorted at 127 - worth a risky trade ..
thinking yesterdays high was the high point of the up move

YOUR LEVEL MR Elinagw TP 1ST 1.26800

Yes i also had a short opened about 3-4 hours ago, I almost got closed out but luckily the price has moved back down to give me +100pips profit for the day.

Well, this may be putting the kiss of death on it, but from my viewpoint, I don't see the FOMC realistically being able to damage Gbp/Usd on a long-term basis - unless, of course, it comes out much differently than expected. I'm looking at it this way: Even if the market reacts by dropping 150-200 pips, well that just puts you back around 1.2480-1.2520...and I would think that, right after a big flush down, at that price level you'd see a lot of buyers coming out. I, for one, would be adding to my existing longs if I got a chance to buy around 1.2500. I don't see it pushing the market significantly more than that, and I think for bears to be seriously encouraged, they'd have to see prices under 1.2400, if not under 1.2350.

I'm also encouraged from reading Kathy Lien's analysis/forecast - she agrees with my take (gosh, what a smart girl) that this rate hike is pretty well already priced in to the market, and actually expects the reaction to the FOMC announcement to be "uncharacteristically" subdued - in other words, she doesn't see the announcement moving the markets to the extent that it typically does.

Well, we'll know in a few minutes.

I'm thankful I already got the opportunity to make my money today - long at 1.2664, out at 1.2694. If, in fact, the market reaction is fairly mild, I might try a small sell or buy, but other than that I'm content to take my coins for the day and just let my long-term stuff ride.

Best wishes to everyone.

Here we go..

Thanks for the insider info..

Still want to see 1.25000

Yes a 123 pattern it was and good call on the H&S Analysis. Finally hurricane Yellen is overrrrrr!!!!!

Well, so far, that does indeed look like a fairly moderate reaction to a report that was actually a bit more hawkish in its forecast for future rate hikes than predicted. Euro took the worst hit, Aud/Usd the slightest - just down a bit more than 50 pips.
I decided to buy back in to Gbp/usd with a small position at 1.2610, risking a whopping 20 pips. Thanks to the day's earlier action, I can afford to take the loss if I have to.

In any event, I don't see how this offers much encouragement for bears on a long-term basis.

However, short-term, somebody certainly could have picked up a quick 80-90 pips if they'd sold right around 1.2700, so that would have been a superb day trade.
Still, I'm just happy to have made a few tuppence going the other way, and happier still that my long-term Gbp/Usd and Gbp/Aud trades haven't even been seriously threatened.

I think we might still be grinding down until into the new year.

This is my futures chart if anyone is interested: