This deal was agreed earlier and did not cause a jump. The rise is rather due to higher optimism with EU deal (possibly misplaced).

Cable Update (GBPUSD)

Thank you! So GBP and USD both overvalued, but USD more? I guess sounds about right.

Cable Update (GBPUSD)

Or bears shorts. COT showed more GBP shorts and less EUR longs last week.

Cable Update (GBPUSD)

That's the thing, I don't know if USD is expensive. Or (focussing on the task in hand), if the market thinks it is time to break USDX support or bounce hard off it. News regarding switching off Fed emergency funding make me think it may be the ...

Cable Update (GBPUSD)

So many USD pairs are near many-month or many-year or all-time highs (including non-traditional like Bitcoin). I understand uptrend and all, but I just can't make myself buy seeing all these highs.

Cable Update (GBPUSD)

The PA certainly feels as if smart money are positioning themselves right now. We are consolidating for almost a week now. Volume does not seem to be high either recently, but maybe I am wrong, I trust your judgement here.

Cable Update (GBPUSD)

Regarding a downtrend... one probably cannot expect to see signs of it before it started. The PA will be bullish just until the moment it is time to drop. This is especially true for GU. Three recent downtrends (post-election, March and September) ...

Cable Update (GBPUSD)

A spike and a tank is what I expect to be honest. Stimulus talks yes (although I don't believe they will lead to something), but we actually had quite negative (=USD positive) news yesterday that Treasury wants to stop sone emergency funding ...

Cable Update (GBPUSD)

Hi Malcolm, But we also saw accumulation for 2 days in 3270 region. And if we look at higher time frequency, it is accumulation between 1.32 and 1.33 for a week now -- quite a high price for GU this year. Wouldn't you expect that a big move (that, I ...

Cable Update (GBPUSD)

If this news url is as bad as it looks, stocks will plunge, and USD will rise from the ashes quite quickly.

Cable Update (GBPUSD)

I think I am done for the day. Cashed in my short from 1.33 with 75 pips in the morning, was kicking myself for half a day for not waiting longer, but now content with the situation. I am also noting that EUR appreciated more than GBP since the ...

Cable Update (GBPUSD)

Looks as if USD is sold on the resumption of stimulus talks. If that's the case, I have to say stimulus news are even worse than Brexit tweets. It was clear for months that there will be no stimulus deal, but markets sold USD (and propped stocks) ...

Cable Update (GBPUSD)

This one seems to have failed for now but great call on USD weakness earlier.

Cable Update (GBPUSD)

Ok, thanks. My view is different; I see metals and Dow lower, and FX pairs mostly lower or unchanged for the day against dollar. As stock market is somewhat calmer today, I don't expect much movement for the rest of the day to be honest. Unless we ...

Cable Update (GBPUSD)

Your calls are usually great, but why are you saying dollar is sold off? Looking at the charts, I cannot see it at all.

Cable Update (GBPUSD)

The price consolidated for 2 days around that level. While it may go back, there is certainly no need for the market to lift the price, everyone who wanted to sell sold already.

Cable Update (GBPUSD)

This is exactly a scenario I wait/hope for. If a scenario we saw in March is a guidance, gold will be sold off during the worst part of a crisis and bought aggressively after that.

Cable Update (GBPUSD)

We are trading near lows before NYSE opens. If risk off continues from yesterday, 1.32 will be smashed.

Cable Update (GBPUSD)

And so it is! url I was actually expecting a positive Brexit tweet, this pattern works like clock lately.

Cable Update (GBPUSD)

GU is suddenly bought. Let me guess: Brexit tweet?

Cable Update (GBPUSD)