Good for you. Incredibly tough to wait until you get the entry that you want. One of the biggest issues in Forex is patience - and buckets of it, particularly when the trading range has narrowed so much over the last 6-9 months. What a drag!!

Cable Update (GBPUSD)

If it hits 1.5600 today, should go to 1.5730 in short order. US economy in no great shape, as all of the recent figures are showing: unemployment up, deflation, etc. UK economy might not be great, but neither is Uncle Sam!!

Cable Update (GBPUSD)

Have now moved S/L to B/E and will exit at the end of the day if the T/P not hit. I don't like having positions open over the weekend, and particularly not when there is a bank holiday in London on the Monday, which tends to lead to "funny" days ...

Cable Update (GBPUSD)

Long, with a very small trade (1€ per pip), at 1.56546, a S/L of 10 pips and a t/p of 1.5740. The low of 1.5640 hit yesterday was at the lower extremity of the 1.5655 +/- 15 pip S/R line, which proved very strong between late Jan through to mid ...

Cable Update (GBPUSD)

Now what? Bounce back up and through 1.5840, or keep going down??? Standing aside for rest of the PM, as Mr. Market seems uncertain as to what to do next....

Cable Update (GBPUSD)

I placed a sell order at 1.5780 and have re-couped my loss from earlier this AM. Have left a small order in place, but have moved S/L to 1.5790, as PA not moving down as quickly as I would like.

Cable Update (GBPUSD)

Failed breakout at 1.5840 & now down? — Cable trading in a channel between 1.5840 & 1.5780 since last Friday morning - quite a wide channel at 60 pips. Failed breakout at 1.5840 and now gone through 1.5780. More importantly, trading in a ...

Cable Update (GBPUSD)

EUR vs GBP — I note that the collapse of the EUR against GBP has gone into reverse. DOes this mean that the markets now view UK as being more of a bacsket case than the Eurozone???

EurAnalysis

EUR/GBP — Does anybody have any idea why Stg is taking a beating against EUR? It hardly moves for months and now there is loads of activity!! In fact, EUR forging ahead against Stg. Have the markets decicded that no matter how bad the Eur is, ...

Cable Update (GBPUSD)

Good for you. Not a very pleasant journey, I imagine. It's funny the way sometime the best thing to do is hang on until B/E achieved. Not good for the nerves, however.

Cable Update (GBPUSD)

PipTrapper, Sorry, I hadn't spotted your comment re. 1.2770 S/R point. Agree that 1,000 pip bounce is unlikely. Mind you, I would have said that about Cable last Jan! More likely to be a 1,000 pip fall, given where Eurozone troubles seem to be ...

EurAnalysis

Weekly trend: possible bounce off 1.2780 — This is my first time commenting on EUR/USD, so please be gentle! Looking at the weekly chart, it seems that 1.2780 could be key S/R point. I follow Cable mostly and there was a three-point weekly ...

EurAnalysis

EUR/GBP @ 0.8000 — Does the fact that EUR/GBP is trading just above. 0.8000 have any bearing on Cable? EUR is a major trading bloc for GBP, and EUR seems to be in free fall because of Greece, Spain, etc. If EUR goes into a complete meltdown, ...

Cable Update (GBPUSD)

Best of luck. Let's hope that NFP causes some kind of movement. Cable has been range-bound since late Monday, stuck between a higher range of 1.6240-1.6190 and, more recently, between 1.6190-1.6165. There is a clear downtrend (but I don't know yet ...

Cable Update (GBPUSD)

Third attempt at 1.6165 — Having gone up through 1.6165 last Wednesday (a high from Oct last), albeit slowly, it is now trying to break back down for the third time. If that S/R lasts, then the only way is up: 1.6330, 1.6465 and who knows ...

Cable Update (GBPUSD)

Look all the way back to last Nov, and you will see that it had a peak at 1.6165. Old resistance, new support!

Cable Update (GBPUSD)

How very true!!

Cable Update (GBPUSD)

Am I not right in saying that Cable did 10 up days in Jan?

Cable Update (GBPUSD)

Ha ha ah?

Cable Update (GBPUSD)

image For those of you who doubt the fractal nature of FX trading, here is a trend line that goes the whole way back as far as 2001 and which still has relevance today.

Cable Update (GBPUSD)