oil is testing a 50 fib level right now if it hold then i say north for cable if it breaks then south, just my view

Cable Update (GBPUSD)

your right "can't" was probably to harsh a word, anything is possible at the moment. Oil is playing a major part in the currency markets today it just surged to $50 and then ran into a brick wall for now

Cable Update (GBPUSD)

from daily fx today "A German account bought EUR and GBP for the 10:00GMT fix, which lifted EUR-USD to 1.2611 highs and Cable to 1.4986 highs. The amounts were reportedly in very large size, but both pairs were already in their ascendency amid broad ...

Cable Update (GBPUSD)

Yeah I agree, and current cable price action is starting to look more and more like a break out

Cable Update (GBPUSD)

I know someone mentioned this earlier but could this be the end of the dollar and yen run then? Since oil cant break through $47 convincinly which is a key level, then if that starts to rise again dollar & yen run could be over very quickly!

Cable Update (GBPUSD)

But when money flows out of crude doesnt it goes back to the dollar or yen?

Cable Update (GBPUSD)

yeah looks like yet another H & S forming, hopefully building up momentum to break through 1.47xx this time!

Cable Update (GBPUSD)

Hey guys hope you all had some good trades. short today at 5026 hopefully back down to test 1.471x area

Cable Update (GBPUSD)

Yeah usd/jpy was great today, hopefully there will be some huge rallies again which can be sold, cause this has got further to go down!

Cable Update (GBPUSD)

Im atrributing the KEY level break of $50 for oil to the strengthening of yen. I dont know how this affects uk though??

Cable Update (GBPUSD)

yes me, yen has dropped like a brick and normally triggers moves in the £/$ but nothing has happened. If usd/yen starts to retrace I cant help feeling cabel will follow. Thats just my view, im still short on cable but set SL to BE. Ive been enjoying ...

Cable Update (GBPUSD)

goto charts up the top, then objects from the menu, and then objects list and you can choose which ones to delete in there. hope that helps

Cable Update (GBPUSD)

hindsight eh, thats forex for you

Cable Update (GBPUSD)

yeah i certainly think so

Cable Update (GBPUSD)

all this dollar strength going on at the moment but it doesnt seem to be moving the £ much

Cable Update (GBPUSD)

lol, we might get to see if the line will work in a min

Cable Update (GBPUSD)

Have a look at the red support line inside the channal. looks strong! ignore the green lines, using a demo meta trader for my charts

Cable Update (GBPUSD)

Yeah I would have to agree with that, around the 5500 level in few days and there is also a major trend line around there so will be a good place to sell if thats how it pans out

Cable Update (GBPUSD)

If there intent on buying there gonna be doing it all day long

Cable Update (GBPUSD)

im debating closing at 5265 will see how it is when it gets there

Cable Update (GBPUSD)