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Cable Update (GBPUSD)

  • #449,101
  • Feb 7, 2017 10:24am Feb 7, 2017 10:24am
ok now I have the channel but see d1 close

Quoting Bones
see d1 close {image}
Attached Image (click to enlarge)
Click to Enlarge Name: 1 USD (DFB).png Size: 41 KB
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  • #449,102
  • Feb 7, 2017 10:28am Feb 7, 2017 10:28am
offer some at 2548...
Look Sharp/Trade Tight
  • #449,103
  • Feb 7, 2017 10:33am Feb 7, 2017 10:33am
Pushed it as far as I could there tp now watch it 2477 selling it for now see how this 4 hour candle closers
  • #449,104
  • Feb 7, 2017 10:43am Feb 7, 2017 10:43am
buy it 500 pips 2 week candle cuts in now
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  • #449,105
  • Feb 7, 2017 10:46am Feb 7, 2017 10:46am
ok see the d1
last week is false imo
Attached Image (click to enlarge)
Click to Enlarge Name: 2 week Screenshot 2017-02-07_16-45-21.png Size: 51 KB
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  • #449,106
  • Feb 7, 2017 10:51am Feb 7, 2017 10:51am
also see the close
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Click to Enlarge Name: AUD (DFB).png Size: 33 KB
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  • #449,107
  • Feb 7, 2017 10:54am Feb 7, 2017 10:54am
this weekly will fail
it never broke

Quoting Bones
on the same theme gbp lfx week -bear engulf above if you look at the pattern at the top where wick was a problem very sim set up here where its poss outright fail this candles different running into that really odd gap up fall set up I can see res to the left and its under broken tl {image} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: GBP (DFB).png Size: 31 KB
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  • #449,108
  • Feb 7, 2017 11:12am Feb 7, 2017 11:12am
Kirstin Forbes talking about a rate increase and May talking about trade deals in China seems to have changed sentiment a bit
  • #449,109
  • Feb 7, 2017 11:17am Feb 7, 2017 11:17am
you think
its not going to hold bye bye 12500
don't see the market letting pin bar wizards having a go


Quoting Fader123
Kirstin Forbes talking about a rate increase and May talking about trade deals in China seems to have changed sentiment a bit
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  • #449,110
  • Feb 7, 2017 11:38am Feb 7, 2017 11:38am
Quoting Bones
you think its not going to hold bye bye 12500 don't see the market letting pin bar wizards having a go {quote}
Pin bar wizards! Brilliant, that did make me laugh

I do agree with your thoughts on the direction of cable.

I think today's resurgence in GBP is on the back of Forbes' hawkish comments on the effect of inflation. I think these are overplayed.
  • #449,111
  • Feb 7, 2017 12:00pm Feb 7, 2017 12:00pm
Quoting Bones
you think its not going to hold bye bye 12500 don't see the market letting pin bar wizards having a go {quote}
What do you exactly mean ?

Up from here or down from here ??
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  • #449,112
  • Feb 7, 2017 12:08pm Feb 7, 2017 12:08pm
its not going to hold ?

Quoting Bones
ok now I have the channel but see d1 close {quote} {image}
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  • #449,113
  • Feb 7, 2017 12:18pm Feb 7, 2017 12:18pm
Quoting Bones
you think its not going to hold bye bye 12500 don't see the market letting pin bar wizards having a go {quote}
Hi Bones

Carney's dovish view on Thursday moved Cable 300 pips south, so it was due a bounce and Forbes provided it.
She is a hawk - but that was quite a bold statement.
May talking about doing a trade deal with China further pushed things.
At present everything is going well - GDP, CPI, employment all better than expected -so I can see where she is coming from
Ultimately though business investment has slowed (if memory serves me) as have some of the forward indicators (PMI)
The issue is Europe- I think we can all accept that there will be some transitional arrangement
It depends what it is and what things will look like in the future
Overall I am quite positive as the EU cannot really afford a hard Brexit- and Barnier seems to be very pragmatic
Cunliffe (neutral) speaks tomorrow- so lets see
  • #449,114
  • Feb 7, 2017 12:26pm Feb 7, 2017 12:26pm
Quoting Bones
its not going to hold ? {quote}
Hi B where do you think it's going ? Regards B
  • #449,115
  • Feb 7, 2017 12:32pm Feb 7, 2017 12:32pm
I dont know, but for me, that does not sounds so well..

Source: https://www.fxstreet.com/news/boes-f...e-201702071406

Quote
BoE's rate-setter Kristin Forbes crossed the wires last minutes, stating that a rate hike would still leave substantial amount of stimulus for economy.
More headlines (via Reuters):

  1. Monetary policy should not be on hold simply due to uncertainty, should be nimble to adapt
  2. Data do not suggest sharp deterioration in growth or unemployment likely in next couple of months
  3. Tentative data suggest inflation might be accelerating slightly

...


I lot of could, would, should and might, and afterwards:

"Who said it it will, me not. It said coulda woulda shoulda.."



Edit: Meeh, My quote got cut back. Thanksss.
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  • #449,116
  • Feb 7, 2017 12:32pm Feb 7, 2017 12:32pm
Quoting Luzbay
{quote} Pin bar wizards! Brilliant, that did make me laugh I do agree with your thoughts on the direction of cable. I think today's resurgence in GBP is on the back of Forbes' hawkish comments on the effect of inflation. I think these are overplayed.
Luzbay - like the signature "I could be wrong, it has been known before"
  • #449,117
  • Feb 7, 2017 12:37pm Feb 7, 2017 12:37pm
your best bet is to read the charts

Quoting Toranaga
I dont know, but for me, that does not sounds so well.. Source: https://www.fxstreet.com/news/boes-f...e-201702071406 {quote} I lot of could, would, should and might, and afterwards: "Who said it it will, me not. It said coulda woulda shoulda.." Edit: Meeh, My quote got cut back. Thanksss.
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  • #449,118
  • Feb 7, 2017 12:37pm Feb 7, 2017 12:37pm
what you think ?
Attached Image (click to enlarge)
Click to Enlarge Name: GBP (DFB).png Size: 37 KB
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  • #449,119
  • Feb 7, 2017 12:39pm Feb 7, 2017 12:39pm
Quoting Toranaga
I dont know, but for me, that does not sounds so well.. Source: https://www.fxstreet.com/news/boes-f...e-201702071406 {quote} I lot of could, would, should and might, and afterwards: "Who said it it will, me not. It said coulda woulda shoulda.." Edit: Meeh, My quote got cut back. Thanksss.
Any talk of hiking rates by a central banker will move the market - particularly a currency like Sterling.
  • #449,120
  • Feb 7, 2017 12:40pm Feb 7, 2017 12:40pm
And, one of the most intelligent analyses over the last months ive read about the actual situation.

Source:

https://www.fxstreet.com/news/uk-slo...a-201702071610

Quote
...substantially longer to negotiate. Business and foreign direct investment are likely to suffer in the first instance, with the knock-on effect on employment and the fall in sterling both hitting household incomes/consumer spending. Nonetheless, we are above consensus for growth this year and see CPI inflation rising to a peak of around 2.75% by end-2017/early 2018. We expect the Bank of England to largely look through this overshoot and not raise interest rates until H2 2019, when the MPC will understand much more about the process...
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