Thread: Discuss the GBP/USD with a DailyFX Analyst

I am out here at 1.9940 +300

Look for action at 1.9891 - likely support.

Originally Posted by Black.day

I am out here at 1.9940 +300

nice call sweet trade Black. I am starting to turn bullish cable bought into the 1.9930 as silly as it may sound target would be 2.06

Breaking 1.9850 would negate this as it means further more complex correction is needed. The argument is simple, Cable has taken all it can from bad to horrible bearish news shorts have been having a blast and downside momentum is fading.

I'm not bullish Cable but I agree with the lower level you have there. Today again Cable is being lent on with Sterling being sold off in the face of +ve carry - not a good sign, wouldn't you say? I'll be looking to sell rallies from here and also looking to jump on in with momentum trades if they start to pick up the pace.

hi st fx & djindyfx,
can i get input fm u technically on gbp now.
want to reconfirm my system signal.
cos yr expert view & experience can lead thru & learn more
tks panda eyes.

Relentless hedge fund selling on cable, all based on Rumor UK bank in financial trouble combined with the vote. Eventually, taking profit will kick in might be better luck tomorrow stops just kept getting chased.

Originally Posted by Q8FXjunkie

Relentless hedge fund selling on cable, all based on Rumor UK bank in financial trouble combined with the vote. Eventually, taking profit will kick in might be better luck tomorrow stops just kept getting chased.

Can't agre with you more. Doesn't seem to matter what the rest of the market is doing, the pound just keeps getting smashed. Best to stand aside until it get sorted out.

Let's see if I got this right. The Dow gains 400 points yesterday and the cable drops 210 pips.

The Dow loses 300 points today and cable drops another 260 pips.

Boggles the mind.

Originally Posted by Panda Eyes

hi st fx & djindyfx,
can i get input fm u technically on gbp now.
want to reconfirm my system signal.
cos yr expert view & experience can lead thru & learn more
tks panda eyes.

Panda.. Look at an 8 hour chart.. Add an Envelope of a 55 time frame and add the 180 Simple moving average.... Also add the simple moving aver age of 55 time frame too.

Look at the chart and then tell me what you see... Do you see Entry and Exit points?.. Bottom resistance at 1.9750 Anything under this point and I am going to short.

Hopefully we don't see a repeat of the range from Feb 26 - Mar 5. It's right at that point now.

Long 1.9870. Looking for 1.9985 Will take a Short if Breaks out below 1.9856. Limit at 1.9688

Posted at 03/19/2008 09:44:08 PM EDT (3/20/08 1:44 GMT)

CABLE TECHS: Recent decline could extend towards $1.9743
RES 3 $2.0026 Hourly res
RES 2 $1.9945 17 Mar low
RES 1 $1.9887 Hourly res
CURRENT LEVEL: $1.9816
SUP 1 $1.9802 19 Mar low
SUP 2 $1.9743 61.8% r of $1.9337-2.0399
SUP 3 $1.9722 05 Mar low
COMMENTARY: Price trading below both 21-hr 55-hr emas on hourly chart
suggesting decline from $2.0399 (March 14 high) to retrace recent upmove.
May extend towards $1.9743 (61.8% of $1.9337-2.0399) but anticipated
oversold readings on hourly oscillators should prevent steep fall below
$1.9722 support. Website: www.trendsetterfx.com.

Originally Posted by djindyfx

Long 1.9870. Looking for 1.9985 Will take a Short if Breaks out below 1.9856. Limit at 1.9688

hi panda eyes here...
so may i ask u, u r short the pair now?
tks

are we going long or short on gbp/usd now any ideas

hi st fx, djindyfx, black day,

fm yr system, can u tell if the gbp strength now is exhausting to go up or
exhausting to go down?
yr input will help me learn a lot.
million tks panda eyes