Wacky indeed. Still looks to me like pro money passing the highs over to retail traders. Keep it looking like a bounce but in fact it's heading down. Time will tell.

Cable Update (GBPUSD)

Whatever.

Cable Update (GBPUSD)

From BoE statement, last week. 29 On balance, most members thought that the current level of Bank Rate and stock of asset purchases financed by the issuance of central bank reserves remained appropriate to balance the risks to the inflation outlook ...

Cable Update (GBPUSD)

I'm talking about your second sentance, this changes nothing he is simply stateing again what was said within the BoE minutes of last week. Keep up! I was discussing this last week and I think you missed it.

Cable Update (GBPUSD)

Got to disagree with the first bit, as I stated last week though the world chose to ignore it, BoE staement specifically mentioned option of further QE for the UK.

Cable Update (GBPUSD)

I still see it as bearish.

Cable Update (GBPUSD)

Better than you thought Malc, it's only Tuesday!

Cable Update (GBPUSD)

Evertime I refresh the screen it comes back to my last post instead of where I refreshed from. Does every body else get this problem here?

Cable Update (GBPUSD)

Well, call me a suspicious old goat, but I see this as the pro's redistributing at the highs to the retail trade. Looking to re-short any touch of .5875 again if they can get it there. Reason, long term triangle now at the top. Entered triangle in ...

Cable Update (GBPUSD)

Seconded. Thanks for all your pointers PipChick, they help immensely.

Cable Update (GBPUSD)

Kiss of death as reported on BBC:- "The International Monetary Fund says the UK economy is "on the mend" and backs government plans to cut spending"

Cable Update (GBPUSD)

Premium!? No body mentioned premium. I will have to go through the small print again.

Cable Update (GBPUSD)

es - S&P 500 if you have that, otherwise DOW30 will do the same job.

Cable Update (GBPUSD)

I'm still carrying shorts from fed day. So I can long for half position with relative impunity. Takes a while but I usually trade out of these situations, just a pity that I got caught scalping. Broker gets the heave ho once this little issue is ...

Cable Update (GBPUSD)

I'm back long here but this on the understanding that Pipchick is underwritting any of my losses

Cable Update (GBPUSD)

Agreed, I think. I figure in the absence of fundimentals then Techies win. Further, it generally takes a significant Fundie to reverse a trend against a techie bull/bear.

Cable Update (GBPUSD)

Ah, now that's different. I have a big note on my wall, 'Fundimentals always overrule Technicals'. Worked fine for 15 years so far. Do you really believe that if the market is in uptrend today and the Boe were to suddenly announce more QE the ...

Cable Update (GBPUSD)

Well in spite of the banter I hung onto my short from .5860 and just closed for 30. So.... (cue music)... It's time to put on makeup It's time to dress up right It's time to raise the curtain on the Muppet Show tonight.

Cable Update (GBPUSD)

Gee, I have got to change brokers. Mine hasn't even hit .5840 on the sell side for 9 hours let alone the buy side.

Cable Update (GBPUSD)

Hi Pipchick. Thanks again for the heads up, at least I managed to balance my shorts with a long which I have just closed. I am hoping the H&S now plays out and we go back to kiss the neck line or there abouts and then I will close shorts and place ...

Cable Update (GBPUSD)