1.7500 all the way baby!!
Don t be so sure, at least not in the following days!
Cable 1.4500 or 1.7500
- Thread starter counter_violent
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Don t be so sure, at least not in the following days!
Alex-the Gr8
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Cable thoughts
This currency has been overbought forever - I'm actually looking for a major correction. I do love fish and chips and Bass Ale - but this rampant speculation, with europe's weakest economy makes no sense. GBP, come on down - you're the next contestant on "The Price is Wrong!"
The Pound weakened across the board and was the only major currency that did not join the rally against the Dollar. The Sterling failed to hold gains after peaking up and shortly plunged to the lower levels following the release of the UK Industrial Production that showed a non-expected decline in August to the lowest level in 17 years, adding to speculation the economic recovery in Britain will reduce. Overall, GBP/USD traded with a low of 1.5875 and with a high of 1.6048.
This currency has been overbought forever - I'm actually looking for a major correction. I do love fish and chips and Bass Ale - but this rampant speculation, with europe's weakest economy makes no sense. GBP, come on down - you're the next contestant on "The Price is Wrong!"
The Pound weakened across the board and was the only major currency that did not join the rally against the Dollar. The Sterling failed to hold gains after peaking up and shortly plunged to the lower levels following the release of the UK Industrial Production that showed a non-expected decline in August to the lowest level in 17 years, adding to speculation the economic recovery in Britain will reduce. Overall, GBP/USD traded with a low of 1.5875 and with a high of 1.6048.
firewalker99
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A chart
Amidst all the speculation, it might be interesting to just see what the chart is telling and adjust when things change. For the moment we are moving lower, as shown by the supplyline on the right (price stopped there at the end of this week). It's also worth noting that we seem to have tested the June lows from the other side, turning support into resistance.
Pattern people will see a h&s in this... but more importantly it shows that after breaking the trendline from March, price broke out of the congestion but failed to hold up there for very long. After it fell back below, we made a lower high (around 1.6685) and after that we breached the last swing low. Those are all bearish elements.
All of this doesn't mean that 1.45 will be here in the near future, because that would mean giving back almost the whole move of the last 6 months. It's more likely price will move towards the midpoint of this range (1.52-1.53). If and when that happens, it will be interesting to see how traders behave.
PS: don't forgot to have a look at what the site's managers don't want you to see
Amidst all the speculation, it might be interesting to just see what the chart is telling and adjust when things change. For the moment we are moving lower, as shown by the supplyline on the right (price stopped there at the end of this week). It's also worth noting that we seem to have tested the June lows from the other side, turning support into resistance.
Pattern people will see a h&s in this... but more importantly it shows that after breaking the trendline from March, price broke out of the congestion but failed to hold up there for very long. After it fell back below, we made a lower high (around 1.6685) and after that we breached the last swing low. Those are all bearish elements.
All of this doesn't mean that 1.45 will be here in the near future, because that would mean giving back almost the whole move of the last 6 months. It's more likely price will move towards the midpoint of this range (1.52-1.53). If and when that happens, it will be interesting to see how traders behave.
PS: don't forgot to have a look at what the site's managers don't want you to see
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tell us more...
Summary of this week:
USD: Bearish, expectations: continues bearish
EUR: Bullish a year + high against the USD
Bullish one month high against the JPY
It appears that the European economy is recovering faster than the others.
JPY: trading in between 91.75 and 92.35, it is on a 0,3% decrease
Expectation continue to underperform other currencies
USD: Bearish, expectations: continues bearish
EUR: Bullish a year + high against the USD
Bullish one month high against the JPY
It appears that the European economy is recovering faster than the others.
JPY: trading in between 91.75 and 92.35, it is on a 0,3% decrease
Expectation continue to underperform other currencies
forexsmith
Junior member
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what more profitable , GRB-USD or EUR-USD ?
mickey1978
Newbie
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Sell EUR/GBP
GBP seems pretty strong across the board if you ask me. I'm leaning to the long side until I see otherwise.
GBP seems pretty strong across the board if you ask me. I'm leaning to the long side until I see otherwise.
SabreTT
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too many people leaning on it one way, its going to collapse before we get to 1.75 I figure still
already is, gold and/or oil :whistling
already is, gold and/or oil :whistling
forexsmith
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cheers for the advise guys
