Cable Update (GBPUSD)

Which target is this? Fib 61.82746?

nah ya right markets simply move because they hit a certain price point that makes sense ... its not cauuse banks need to accumulate nah mate not at all. What hogwash

The way that they completely sold the news this is just the beginning of a major correction. Aiming for 1.25 in a few weeks.

Why GBP falls after positive news ???

highest CPI 2.7 since 2013 ?
could anyone explain that ?

the market probably had it priced in

Closed at BE

Trying short again at 905 Risk 25 for 35
Looking for bear flag to pan out.

someone's shorted all those fundy longs for a bit after price took out previous 4hr high, then shafted them below the previous 4hr low.
Those day trade bullish stops have now been munched and converted back into longs?

IMO this has been a horrible year for news trading--black is white and white is black. I'm finally a believer and forcing myself to not trade red news

cable free colon

Thinking the reasoning is in the latest monetary policy statement from the BOE.
http://www.bankofengland.co.uk/publi.../2017/003.aspx

There you can see that Mark Carney does not care one bit what the inflation rate is going to be- he is not going to hike at all.
So the inflation rate is meaningless. No wonder traders sold it off
The only thing that will really boost it - will be an increase in wages or some really good geopolitical news

There is no point in explaining because nobody listens everything here is perfectly normal. If you can't trade then then stop. People always find something to blame when the fact is they cannot trade because they lack the qualifications to do so. Amateurs making amateur comments.

It takes a lot of skill, knowledge and the right tools to understand how this market moves and you certainly won't get this from reading books you have to study hard and long. All the information is there on the chart so instead of blaming set to work and find out why the market moves.

What we Perceive as Amateur Traders and show me one around here who is not - then there maybe other factors taken into the judgement of city traders on the News CPI is up which should be good news when inflation rises and then products (definition of Products of course can vary) but generally speaking they become more expensive. However it is the rise of wages that also needs to be questioned here are they increasing in line with this expectation or are they lessening or even stagnating lesser or lower wages and higher prouduct prices means generally people will only spend on the necessary items as they find stuff more expensive so then then thats not good for the economy as this takes away the idea of people spending which can be seen as a not so good sign, so really its one of those how far down the rabbit hole does one go, hence the reply showing as a range high and low move then hang on the daily pivot line and see whats next.

btw never be afraid even around here to ask questions, its normal too.

Watch the price it might go out higher from Wall st end of their session and into Asia or it might range just worth watching out for, personally i still think we are in a up trend but hey famous last words right ;-)

There is a problem Dean...Don't watch the price watch the average. By setting up a separate chart as below you can see clearly what price is trying to do.

The GBPUSD has been very volatile, but it has not taken a clear direction. On the daily chart it is still oscillating around the 1.2900 zone.

Agree with all of the above, especially that GBP has been directionless (or, at least, on a path of its own!).

Cable appears very hard to make sense of at the moment, given the UK's political future (unknown) and the current US administration's future (..also unknown!), so this pair seems to go where the wind blows it at the moment.

My view is, still, that USD should have power over GBP for now, owing to economical factors. But political/fundamental issues seem to be negating those for now, and probably rightly so.

With all of that said, I have taken a short position at 1.2926 and I hope to ride it all the way down to 1.28. My charts actually highlight 1.2772 as the 'finishing line' for this move, but I want to ensure that I take my profit if the trade goes my way, so I'm happy to give up 28 pips for the privilege. Stop is just above 1.30.

Whos working with Fibonacci's ??

Whats about this ??

Weekly.

The game is a foot Holmes lol

We await the coup de gras

Hi Elbert, have you bought yourself a lawn mowing round

The next thing to do is to identify your trading time and your profit objective. I trade the grey areas here and the green box is a 20 pip profit target. I don't care two hoots about the distance price moves as long as I get my bit.