I guess bulls and bears both had their chance to profit today as ranging continues. A lot of US data points + FOMC minutes today, trade carefully.

Cable Update (GBPUSD)

Very tempting to sell EU and AU at these levels, but I guess we may still have some up move in stock, PA is clearly bullish. Looks like November will finish on high to start selling in December, similar to end of August - beginning of September.

Cable Update (GBPUSD)

Tomorrow is the last US trading day this week (<= Thanksgiving). May be important, as much lower liquidity during US session time usually leads to volatile FX.

Cable Update (GBPUSD)

Move the price by 50 pips in half an hour of course!

Cable Update (GBPUSD)

When I write a book about trading, one of the chapters will be called Fantastic Mr. Fix.

Cable Update (GBPUSD)

So pound is falling, and no positive Brexit news? We already read last week that Brexit deal is 95% ready, there is still room to go for 99%, 99.5% and 99.9%. Or maybe the big boys already loaded their shorts, and now it will be 90%, 80% and so on? ...

Cable Update (GBPUSD)

The interesting thing with movements like yesterday's is that it largely removes resistance and support orders. So reaching 1.338-9 is not difficult for the bulls (as reaching at least 1.333 won't be difficult for bears if tide turns). Breaking ...

Cable Update (GBPUSD)

Looking at AU, dollar selloff probably continues. I am on the sidelines for the time being, no desire to buy at high price or sell against the strong flow.

Cable Update (GBPUSD)

There may still be a deal... politically, Johnson may not afford another failure. But at this point, "deal" is not that much different from no deal. It is a very hard Brexit which also does not cover financial services. (And the whole reason why UK ...

Cable Update (GBPUSD)

Yeah, people underestimate the level of changes (which are huge) and overestimate UK preparedness (close to zero) and ability to quickly react (with UK government probably the most incompetent in centuries).

Cable Update (GBPUSD)

Reminded me of a joke: A cat lover visits a lady who just gave birth to twins. He looks at the babies with much interest and finally says: Well, if I were you, I would keep this one.

Cable Update (GBPUSD)

Thanks, Wavegarrick and Roszey!

Cable Update (GBPUSD)

Out of curiosity: what is the difference between hedging in this way and just closing a position? I would think closing is actually better as you won't pay overnight swaps.

Cable Update (GBPUSD)

*whining mode on* Difficult day for me. Expected that September 1 dollar-down-and-up scenario would be played today, which it was. Got a perfect short entry at 1.3394 with SL 7 pips, but moved to SL to small profit too early and did not re-enter ...

Cable Update (GBPUSD)

You are most probably right, but today I would be cautious. I don't like this PA; and Asia did break 1.32 last week.

Cable Update (GBPUSD)

Most of the time, yes. But when it breaks a strong support/resistance, it is usually very important, exactly because it is difficult to do with low liquidity.

Cable Update (GBPUSD)

GU opens just below 1.33. Can it clearly break a strong resistance of 1.33 in Asia? It would be hugely bullish, but also very difficult. At the same time, there seems to be no appetite for a drop lower. So I wonder what price will do for the rest of ...

Cable Update (GBPUSD)

Sorry if I misunderstood your post, no offence intended. Peace.

Cable Update (GBPUSD)

Many technical traders dismiss fundamentals and just "trade their chart", which is fine. But saying both deal and no deal are priced in at the same time makes no sense to me. Similarly, you could say both Brexit and no Brexit are priced in just ...

Cable Update (GBPUSD)

I don't know if there will be a deal or no deal, but one thing is for sure, people here in UK will get the biggest reality check of their lives in 2021. It would take 5-10 years of pain to rebuild, and probably decades to mitigate the effect of ...

Cable Update (GBPUSD)