Cable 1.4500 or 1.7500

This is a discussion on Cable 1.4500 or 1.7500 within the General Trading Chat forums, part of the Reception category; Originally Posted by Mikeyfx 1.7500 all the way baby!! Don t be so sure, at least not in the following ...

View Poll Results: 1.4500 or 1.7500
1.4500 30 34.48%
1.7500 44 50.57%
Price will never hit either of these levels ever again. 1 1.15%
I think the Goodyear grand prix s has made a major contribution to road safety. 7 8.05%
There will be a single world currency before either level is hit. 7 8.05%
Multiple Choice Poll. Voters: 87. You may not vote on this poll

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Old Sep 30, 2009, 4:03pm   #21
Joined Sep 2009
Originally Posted by Mikeyfx View Post
1.7500 all the way baby!!

Don t be so sure, at least not in the following days!
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Old Oct 8, 2009, 1:21am   #22
Joined Sep 2009
Cable thoughts

This currency has been overbought forever - I'm actually looking for a major correction. I do love fish and chips and Bass Ale - but this rampant speculation, with europe's weakest economy makes no sense. GBP, come on down - you're the next contestant on "The Price is Wrong!"

The Pound weakened across the board and was the only major currency that did not join the rally against the Dollar. The Sterling failed to hold gains after peaking up and shortly plunged to the lower levels following the release of the UK Industrial Production that showed a non-expected decline in August to the lowest level in 17 years, adding to speculation the economic recovery in Britain will reduce. Overall, GBP/USD traded with a low of 1.5875 and with a high of 1.6048.
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Old Oct 11, 2009, 12:40pm   #23
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Joined Jul 2006
A chart

Amidst all the speculation, it might be interesting to just see what the chart is telling and adjust when things change. For the moment we are moving lower, as shown by the supplyline on the right (price stopped there at the end of this week). It's also worth noting that we seem to have tested the June lows from the other side, turning support into resistance.

Pattern people will see a h&s in this... but more importantly it shows that after breaking the trendline from March, price broke out of the congestion but failed to hold up there for very long. After it fell back below, we made a lower high (around 1.6685) and after that we breached the last swing low. Those are all bearish elements.

All of this doesn't mean that 1.45 will be here in the near future, because that would mean giving back almost the whole move of the last 6 months. It's more likely price will move towards the midpoint of this range (1.52-1.53). If and when that happens, it will be interesting to see how traders behave.

PS: don't forgot to have a look at what the site's managers don't want you to see
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Last edited by firewalker99; Oct 12, 2009 at 7:52am.
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Thanks! The following members like this post: tenbobtrader
Old Oct 15, 2009, 4:42am   #24
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Joined Oct 2009
I think we have some bearish divergence setting up on the hourly. Maybe a retrace back to the trendline. Anyone?
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Old Oct 16, 2009, 1:35pm   #25
Joined Sep 2009
cable following the euro, having similar fluctuations so after the big euro coming back it was now the turn of the gbp!
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Old Oct 22, 2009, 12:10pm   #26
Joined Sep 2009
tell us more...
Originally Posted by kaciara View Post
There will be a single world currency

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Old Oct 25, 2009, 4:00pm   #27
Joined Sep 2009
Summary of this week:
USD: Bearish, expectations: continues bearish
EUR: Bullish a year + high against the USD
Bullish one month high against the JPY
It appears that the European economy is recovering faster than the others.
JPY: trading in between 91.75 and 92.35, it is on a 0,3% decrease
Expectation continue to underperform other currencies
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Old Nov 5, 2009, 11:16am   #28
Joined Oct 2009
what more profitable , GRB-USD or EUR-USD ?
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Old Nov 9, 2009, 9:21pm   #29
2 Posts
Joined Nov 2009

GBP seems pretty strong across the board if you ask me. I'm leaning to the long side until I see otherwise.

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Old Nov 9, 2009, 10:23pm   #30
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Joined Nov 2008
too many people leaning on it one way, its going to collapse before we get to 1.75 I figure still

Originally Posted by tomo1 View Post
tell us more...
already is, gold and/or oil

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'trading is a game of musical chairs'

FTSE 10k all the way
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