Anyone got a view on cable?

[George Soreass]

Mixed opinions from friends in the business, which one is the lesser of two evils? I happen to think the pound will be far weaker of the two

anyone have an opinion on this matter?

been calling currency trades awfully since last year, when I was forward hedging my euros from 0.76ish :whistling

 

[TheBramble]

It’s currently sitting on yesterday’s Low which doesn’t count for a great deal given yesterday’s trading volumes and range, but there it is. USD is currently (09:55 CET) significantly stronger than GBP but still hasn’t managed to make too much impact after the opening gate switcheroonoo, so I’d suggest some strength if only temporary.

A break above and support at 5860 would suggest a potential further move up to around 5900 and then onto 5940. 6002 would be my primary upside target for today’s trading, if it hit that, I’d check the technicals again to see if there were more to play for depending on time-of-day.

To the downside, breakdown through 5830 and confirmed Resistance would have me looking for 5790 and below that 5550, but it’ll take some legs to that all today I suspect.

 

[George Soreass]

Cheers

but not really looking for a daty trade view, I was wondering about the longer term move ..... any view on that?>

 

[TheBramble]

None.

 

[JRP2891]

Technically speaking, if it can break through the 38.2% fib from the july sell off, and 1.6000, i would expect it to target the 1.6600-1.6800 pivot and 50% retracement. I'm long so I'm only looking for more potential upside as I trail a stop.

 

[montmorencyt2w]

Well Moneyweek thinks the dollar is going down ...

(...so start buying your dollars now ... )

[Warning, this is not trading advice!]

 

[Masquerade]

I think cable will settle back into the range of where it was before the $ started significantly weakening on the run up to to 2.00+ so I guess we're looking at around 1.60-1.65 but who cares what I think anyway

 

[cpngtw]

My take on cable

Here is my take:

cable is retracing back to circa 1.56, then will continue its up trend to around 1.66. Time frame is around 1-2 weeks...

Disclaimer: this is only my view, I maybe wrong! :innocent:

 

[The Baptist]

up

 

[Pippy5000]

USD looks like it wants to catch a bid so I imagine at this point the price action in Cable will be depend on what EUR/GBP does..

bias is up short-term however..

 

[The Baptist]

USD looks like it wants to catch a bid so I imagine at this point the price action in Cable will be depend on what EUR/GBP does..

bias is up short-term however..

Long Run USD to go down against most, particular commodity currencies, they have a Trillion in debt to devalue there way out ...

There relationship with China is not a comfortable one, bit like the Scorpion on the frogs back crossing the stream.. only mutual value destruction keeps them co-operating..

 

[montmorencyt2w]

Plus commodities can only go one way in the long term, no?