View Poll Results: What impact will the Bank of England Rate Decision have on the GBP/USD?
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06-21-2008, 08:07 PM #3646
my two cents
Cable will move up strongly but briefly to consolidate over 19770. 19854 will likely be broken shortly after, and we are then looking for X to end at least 2.0440, with potentially 2.0720 and the former supertop. This upmove above 19854 should be very powerful. However, I don't expect it to go right up to the supertop as I see a huge downmove from this peak, to be classified as Y.
06-21-2008, 09:24 PM #3647
You don't think it will pullback after London market opens?
06-22-2008, 06:13 PM #3648
Im curious of how you come to this conclusion?
Originally Posted by terton
06-22-2008, 06:16 PM #3649
Don't you think we'll see a retracement before 1.9820?
06-22-2008, 09:09 PM #3650
Aha now i can see the logic...but 1985 will have to be broken from previous resistance around this time last month. For me that point will be a good position to judge what will happen, if indeed it will continue to fib level of 38.2 which was tested twice in April. If it fails to break 1985 i will be short, if it does break i will be long
Entry Point ready for long @ 195 irrespective of break above 2.00
06-23-2008, 04:22 AM #3651
Like I sad. This will happened probbably in monday.
Originally Posted by BH-Eurofighter
First target HIT
Move Stop losses on 1.9690
Now we are safe and in profit
Last edited by BH-Eurofighter; 06-23-2008 at 04:31 AM.
06-23-2008, 04:33 AM #3652
Hope you are sattisfy. Minimum 400 pips in few days reserve to become dead carcass
Originally Posted by BabaAnthony
Last edited by BH-Eurofighter; 06-23-2008 at 05:21 AM.
06-23-2008, 05:26 AM #3653
Pound ran into the 100 Day SMA and comments from BoE MPC member Andrew Sentance "Businesses and consumers are feeling the squeeze from higher fuel and food prices, while the difficulties in the banking system and a weakening housing market are adding to economic uncertainties. These factors should lead to much slower economic growth and a weaker labour market over the next year or so-- helping to offset the upward pressure we are seeing on inflation from rising energy and food prices". This has significantly lower the chances of a rate hike and may weigh the pair to test Bollinger band resistance at 1.9447
06-23-2008, 06:08 AM #3654
Move stopp loss for Target 2 on 1.9670
Originally Posted by BH-Eurofighter
Move target 2 on 1.9500
06-23-2008, 07:24 AM #3655
Last edited by BH-Eurofighter; 06-23-2008 at 07:26 AM.
06-23-2008, 07:44 AM #3656
just small LONG for retest 1.9700 level extending 1.9800
Last edited by lovelyforex; 06-23-2008 at 08:43 AM.
06-23-2008, 08:23 AM #3657
lovely, have you closed your all short positions?
06-23-2008, 11:00 AM #3658
BH-Eurofighter- I've been following your posts for the past week or so and I just wanted to say very good job
06-23-2008, 12:42 PM #3659
hi guys.. nice to know you all..
im new to this forum...
but im not new to forex.
my forex experience is about 4 -5 years
i think this is a great forum to discuss currency..there is so many experts in here : )
06-23-2008, 02:55 PM #3660
From a longer-term perspective, GBPUSD is doing nothing but consolidating. However, from a shorter-term view, the pair bounced from trendline and fibonacci support this morning. While there's a good amount of resistance around 1.9650/60, I think we'll see GBP/USD hold above noted support overnight.
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