SE1 Capital Markets

Evolving to Consistency

Browsing Posts tagged Cable

GBP/USD, September 3

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GBP/USD, September 3, 8am UK Time

It’s September NFP day and volume is down. That’s probably saying it all.We are in a pretty congested area around 1.5425 and so far Cable is reluctant to push higher making risk reward calculations difficult. If I don’t see more action, I will hold off until NFP or, alternatively, don’t take a trade at all.

GBP/USD, September 3, 8am UK Time

GBP/USD, September 3, 8am UK Time

GBP/USD, September 2

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GBP/USD September 2, 8am UK Time

We are stuck in a range from 1.5583 – 1.5327 flanked by significant, long term fib levels. We saw a news driven burst up yesterday to the well known 1.5480 level with bulls losing control again. Cable slowly re-traced during Asia. We saw a typical Cable pattern into London open. Two short bursts up forming a double top usually followed by a stronger 50-70 pip down move. The latter is the one I am betting on for today’s open. The problem is that USD and the GBP are weak, making this a bit tricky to trade. As posted on twitter, we need to see a clear break below 1.5390 to see lower cable levels.

GBP/USD, September 2, 8am UK Time

GBP/USD, September 2, 8am UK Time

GBP/USD, August 13

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GBP/USD, August 13, 7pm UK Time – Longer term analysis

 The chart below is an analysis based on the daily cable chart. After GBP/USD failed to break 1.6, we saw, for whatever unlogical reason, strength coming into the USD and a 400 pip pullback to 1.56, each day following a similar scheme. We opened London with a double top, only to give away 100 pips during the session. Same happened during the US sessions, but now we have found stronger support levels. A confluence of recent highs (red line), the up trend-line (yellow) and a 50% Fib line will make it hard for cable to clearly break the 1.54-1.55 level. If the next daily candles don’t support a further down-trend, we will form a bullish divergence on the Oscillating indicator (light blue trend line in the indicator section) and could see daily stochs turn around to the bull side as well.

What I want to say is: Look for Cable longs in the 1.55 (aggressive), 1.54 (conservative area) if the indicators turn around.

The second chart is an analysis of H1 GBPUSD, which already shows a confirmed bullish divergence on the Oscillating indicator and bullish Stochastics in the H1 time frame. Let’s see if the daily is game and finally attack 1.6-1.62. Merwins words and reality are, as usual, long forgotten…

 
 
 

GBP/USD, August 13 7pm UK Time, Daily

GBP/USD, August 13 7pm UK Time, Daily

GBP/USD, August 13, 7pm UK Time

GBP/USD, August 13, 7pm UK Time

GBP/USD, August 5

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GBP/USD, August 5, 7am UK Time

We saw a downward correction yesterday after the APD data. Cable never really recovered and rejected 1.59 a few times during Asia. The 7am candle open is the second bullish candle in a row with some potential upward momentum above 1.59.

GBP/USD, August 5, 7am UK Time

GBP/USD, August 5, 7am UK Time

GBP/USD, August 3

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GBP/USD, August 3, 7am UK Time

After reaching 1.59 yesterday, cable consolidated through the Asia session and is about to find direction after the London open. This has the energy to break 1.6 and is still in an up trend, but we should all stay cautious that a correction is statistically overdue after a multi day increase.

GBP/USD, August 3, 7am UK Time

GBP/USD, August 3, 7am UK Time

GBP/USD, August 2

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GBP/USD, August 2, 7am UK Time

Still bullish momentum in cable, but everybody is waiting for a correction. I would prefer to go short into London, but will trade what the charts provide. Critical levels at 1.5753, 1.5821 and 1.5922 to the upside. 1.5603, 1.5585 and 1.5494 to the downside.

GBP/USD, August 2, 7am

GBP/USD, August 2, 7am

GBP/USD, July 30

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GBP/USD, July 30, 7am UK Time

Cable continues to look a bit heavy but regained some strength after Asia with a quick move up to 1.5635, but gave away the gains in a quick down move. Bulls and bears are fighting at Daily Pivot (1.5617), 21 SMA and 200 SMA (M5) to find support. The more lucrative trades should be shorts.

GBP/USD, July 30, 7am

GBP/USD, July 30, 7am

GBP/USD, July 29

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GBP/USD, July 29, 11am

Cable in a stunning up move for the last (for me internet-free..) week. Expect a correction, or at least a false breakout below the trend line. I consider going short into the US session.

GBP/USD, July 29, 1pm

GBP/USD, July 29, 1pm

 GBP/USD, July 29, 3pm UK Time

Beautiful move up from the 1.56 to the 1.5656 level. I was looking for countertrend shorts but missed the breakout to the downside and, hence, decided to look for the move back to the channel. All indicators confirmed the potential move up to the Weekly R2 at 1.5656, or, if you have the nerves, right up close to the 1.57 level.

GBP/USD, July 29, 3pm

GBP/USD, July 29, 3pm

GBP/USD, July 29, 11pm UK Time

I missed the first breakout from the trendline and successfully traded the retracement well above R1 at 1.5655. Cable formed a double top and suddenly fell down 80 pips to 1.558. The pullback was less than convincing and made it back up to the 50% Fib level. We are now trading below the Daily pivot (1.5617). Mycurrent bias is that cable is due for a correction down to 1.5573, possibly even further, after a 6 day up move.

GBP/USD, July 29, 11pm UK Time

http://bit.ly/anrkRL

GBP/USD, July 27

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GBP/USD, July 27, 7am UK Time

Looks like Cable has a chance to move above the double top from yesterday.

GBP/USD, July 27, 7am UK Time

GBP/USD, July 27, 7am UK Time

GBP/USD, 26 July 2010

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GBP/USD, 26 July 2010, 9am

Cable continues a strong performance to form a double top at Daily R1 (1.55). Most likely to pull back to the Daily Pivot just below 1.54 before making another attempt at 1.55.

GBP/USD, July 26, 9am UK Time

GBP/USD, July 26, 9am UK Time