At the moment price action is confined within the down trend channel (1hr). Looks like a ranging London session until US news and "calm down" explanation from Greenspan for recent "misinterpreted" comments on the economy. This will be followed later ...

Cable Update (GBPUSD)

Personally, I think a break is possible because recent news is more positive US than GB. JM2C

Cable Update (GBPUSD)

If the downtrend channel's resistance trend line holds we could be into Igrok's South Pole projection.

Cable Update (GBPUSD)

My thoughts exactly. But, the market doesn't have this common sense approach to valuing a currency, hence good US news and mixed GB news appears to mean a medium range market consolidation and not to sell GBP massively. I can only assume that there ...

Cable Update (GBPUSD)

Just got back. US news was good but obviously not good enough. The market at the moment is fickle, especially as I just read elsewhere on the forum that a large Swiss bank are forecasting next UK interest rate hike to 5.75% in August. Not enough and ...

Cable Update (GBPUSD)

That last rally was a perfect retrace off the upward channel support trend line. Good US news could test this support again and given today's bearish sentiment we may see the down channel again..

Cable Update (GBPUSD)

Thanks Cesar...

Cable Update (GBPUSD)

No. Not when you take it in the spirit it was meant in. You handsome devil you....

Cable Update (GBPUSD)

Please can you identify which time period your fibo comes from? I and probably others on this thread are relatively new to fibonacci. I, for example, just plot a retracement of most recent high low or reverse. Other fibo strategies would help us all ...

Cable Update (GBPUSD)

C'mon now stop mucking about. You are aren't you? Yes - You are aren't you? You, you, you're "Jose Mourinho" aren't you????

Cable Update (GBPUSD)

Well said, point made, ignorant people (if they have some brains) will learn from your explanation. WAY TO GO.... Oops I just caught your last point. Sorry. Won't do it again.

Cable Update (GBPUSD)

Thanks for the clarification Cesar. I for one am pleased you can see into the future. OK, sometimes there are mists, but, in the main you see clearly...

Cable Update (GBPUSD)

Hey, welcome back... Hope it's not a short stay.

Cable Update (GBPUSD)

Cesar says on GBPJPY: "Cable has unfinished business right below the 9800 figure, after which it is reasonable to expect cable turning around as to go on trading the channel it's in. " I think I'll go long when it bottoms, initial target approx. ...

Cable Update (GBPUSD)

Blair's legacy — Looks like the 161 fibo is breached. Cable carnage ahead possibly.............

Cable Update (GBPUSD)

RJF, I have learned a lot from your posts. I am sorry that some idiots have shown you a lack of respect and you feel your advice and goodwill has fallen on deaf ears. I guess the young (inexperienced) feel they know better than seasoned traders like ...

Cable Update (GBPUSD)

Wrong. After crunching the numbers it would seem that the big boys have decided to go short for now.

Cable Update (GBPUSD)

Igroks bottom line_____________ — So, the general consensus amongst the experienced traders here is that a major bear move is on the cards, unless a 0.5% hike is made. Therefore a 0.25% hike will be a disappointment for the market because it ...

Cable Update (GBPUSD)

The figures were bad but not that bad. Profit sellers seem to be buying back in now ahead of news later on.

Cable Update (GBPUSD)

Thanks for the explanation el duende. Presumably, after the interest rate announcements today and tomorrow, it could just as easily go directly up to set new heights. Or, am I unaware of another key piece of technical information, such as an ancient ...

Cable Update (GBPUSD)