Thread: Discuss the GBP/USD with a DailyFX Analyst

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Originally Posted by Hoftman

Conceal!

Can you believe you are the first familiar face for me here?!?!?

Citibank is one of the largest FX players in the market, but not necessarily because they trade this market but because their network is Planet Earth's favorite channel for huge "real money" flows. When it comes to "Trading" the FX market, Deutsche Bank and UBS have the real FX trading desks/floors/buildings... and trust me, FX-related income is key there, and so is true FX-related talent.

Emerging markets do have a lot of press these days, no doubt. The issues are "Liquidity & Regulation". Take Colombia (where sin abounded, grace did much more abound) and it was recently ranked by Bloomberg as one of the hottest emerging markets, since 2000 (and still Cheap today!) yet an investor with USD 50 Million will find it hard to buy or sell if he is in a hurry... and you know emerging markets!

Conceal, what about Cable, and the others from the first days?!?!?

Hoftman.



EDIT: Spellcheck.

Hi Hoftman,

Cable stopped posting here a long time ago along with a few others. Its a shame really I feel I learnt a lot from him, I liked his style a real inspiration. I think there are a few who post occasionaly that are still in touch with him. I remember hearing a few months ago something about bulldog having forums on his website where a few of them were posting.

Would love to have a chat with you about a few things if possible, ill leave my e-mail if you could e-mail me or if you have msn, would be much appreciated.

Thanks

-conceal

Newk298321@yahoo.com

What other option is there now but to go long?

Long at .0575 SL .0485

The last 3 trades have been stopped out for a considerable amount of pips.

Originally Posted by Black.day

What other option is there now but to go long?

Long at .0575 SL .0485

The time to go long if you were planning on it, was around the 2.0485 area with a tight stop just below. The opportunity is missed now if you didnt get in earlier. going long at 2.0575 is like in the middle of no where, swimming in open water if you know what i mean? very risky.

Originally Posted by terton

Hi,
I expect it to up today and a good short for me would be a high with shadow at about 567, holding position over the weekend or waiting till Monday. There is a new cycle starting then and it could make a high attempt. Any dip today I think will be bought back viciously.

Cheers.

Hi Terton,

Any short term long targets on the week's open?

Looks like the pound sterling is going to be supported over the weekend at the current 2.0562 price.

Originally Posted by conceal01

The time to go long if you were planning on it, was around the 2.0485 area with a tight stop just below. The opportunity is missed now if you didnt get in earlier. going long at 2.0575 is like in the middle of no where, swimming in open water if you know what i mean? very risky.

Hi Conceal01,

Looking for a top at the 2.0600 and slightly above?

Originally Posted by arodriguez

Hi, I am new here. Usually I follow EURUSD, but some times I visit the GBPUSD forum.

Today if GDP disappoint I expect a break of that trendline support. I am short @ 530. Why: overbought daily charts, negative divergences in monthly and weekly charts, 6-3 vote, retail sales below forecast yesterday and UK GDP today... maybe below forecasting.... If not, my SL is @ 520.

Good trades to all.

Pair doesn't hold below SMA65 in 1 hour chart and uptrend line still solid, so I close my short position taking +20pips. looking for new opportunities next week.

are we best to expect a break back into the 1.98-2.01 territory anytime soon? it seems the GBP is, I think, overvalued

I think it may drop to 2.0400+-. Lets see

conceal01, My Cable limit order short was placed to take advantage of a drop below an area of support which I hoped would lead to a descent drop back to the weekly open. Unfortunately for me this never happend. Both my previous trades were long and taken within pips of a high with both SL's washed up within pips of a reversal back up again. 80 pip SL's are, it seems, are not enough to buy the ride (either that or someone's out to get me). Now it seems even 100 pips is not enough accurately navigate the course with my last trade whipped from under my feet in double quick time. Now I'm long again (quick! Get your shorts into play me hearties ...) and although I may be swimming in open water, at least I'm not against the tide.
As the trend is unequivocal, let's hoist the Jolly Roger and sail the seven seas as it's only a matter of time before my long position yields dividends .... providing, of course, I don't get stopped out first ... bubble, bubble, glug, glug.

Current position: GBPUSD Long .0575 / Land ahoy! .0740 / Sea sickness .0465

Bullish close on Friday, market Analysts ask how low dollar can go

Taking the Jun 27 and Jul 6 lows as reference and extending a t'line through them, then duplicating the t'line and placing it back at the Jun 7 breakdown point I can see this channel has formed. Seeing this, I'm going to alter my long trade to a SAR below this t'line support which held on Jul 19 and 20.

Current thinking is SL @ .0465 but I'm now considering SAR at the same price level. Does this sound rational?

Hi Black.day

I have a Gann active resistance that was broken for the 2nd time on Friday, so it strongly suggests the possibility of that area becoming support. So initially I will look for a support/good reversal pattern to appear circa .0546. (Secondary Gann @.0486)

rgds - arco

Hi arco, I'll bear those levels in mind - thanks. I really fancy the SAR @ .0465 but the further Cable climbs the more likely it is I'll sell the bottom again. Obviously I'm a little concerned about Cable's OB feeling right now esp. since the Rightmove house price survey slipped to +10.5% (from 13.2%) this evening but house prices maintain an average level of 240K - much, much more here in London - and the Swissie is only just maintaining it's footing around 1.20~. Add to that Sarkozy seeks tougher line on China and we may be in for a choppy week.