Agree, but fundamentals are strong. Brexit, corona, US stimulus and general perception of next US administration are all big market movers. So I do expect that we step outside of this area in the next two months, even if temporarily.

Cable Update (GBPUSD)

I am short myself but with much less conviction.

Cable Update (GBPUSD)

Maybe you are right, although in my experience, if breaks of important levels happen before Frankfurt, they are followed by a bigger move in the same direction in European session.

Cable Update (GBPUSD)

Well, I guess from the technical perspective, situation is very clear. We are just below important resistance levels for EU and GU, 1.9 and 1.318 respectively. If these are broken, it's hard to see how we can avoid further USD slip to 1.2/1.33 at ...

Cable Update (GBPUSD)

"Trump received 304 and Clinton 227, as 7 faithless electors, 2 pledged to Trump and 5 to Clinton, voted for other candidates." So 7 voted "faithlessly", with +3 shift for Trump. Could have been interesting if 2020 elections finished close to a ...

Cable Update (GBPUSD)

What I see looks like Republicans will hold the Senate. This bodes ill for stimulus whoever wins White House, especially if it is Biden. I therefore shorted Dow as I think investors expected blue wave of spending. I don't like GU's chances either, ...

Cable Update (GBPUSD)

Not sure she knows a lot about politics. Trump win will likely trigger no deal Brexit. Also, we will continue to have deadlock in Washington, with Democrat House and Republican Senate, so stimulus will be difficult (same with Biden though, if ...

Cable Update (GBPUSD)

I agree on 1.29 (and then probably lower), but really have no idea how far we can go up. 1.32 looks a tough nut to crack, but on election night, all bets are off. I guess trading-wise, I prefer a landslide Biden win and blue wave (hope Coreg would ...

Cable Update (GBPUSD)

Every time the price moves up, bulls start talking about some targets way above. When we were at about 1.35, 1.4-1.5 was a sure thing, when we were at 1.317 couple of wees ago, 1.36-1.37 was almost done and dusted. Not that 1.327 cannot be achieved, ...

Cable Update (GBPUSD)

Recovered most of the loss today with the drop. My usual mistake: I expect a big move up, and then a big move down; and instead of taking long AND THEN short, I am trying to pick up highs. Sometimes I am lucky, but often I lose money this way. I ...

Cable Update (GBPUSD)

Hit my stop. Clearly I was wrong assuming 1.3 area will hold.

Cable Update (GBPUSD)

Added more at the same level, and put SL for both to 30 pips. I am now more comfortable with these shorts, as bulls tried and were not able to break 1.3. Also, Brexit news were quickly bought which sort of confirms my view the market wants to ...

Cable Update (GBPUSD)

Won't be dragged into political debate (had too many in my life), but I am quite confident Biden will win. Polls in the swing states are too much in his favour. And the result will probably be even more in his favour, as those that don't like Trump ...

Cable Update (GBPUSD)

Shorted at 1.2992, 20 pip SL. Just below 1.3 GU / 1.17 EU / 1900 Gold look like good levels to consolidate and go lower. There is still 2.5 hours until US session though, so we may still head higher.

Cable Update (GBPUSD)

At the risk of stating the obvious, today is about positioning for the big boys. Usual scenario is for price to reach some high levels, consolidate there, then head aggressively lower (below open) and consolidate there, before returning to near ...

Cable Update (GBPUSD)

And by the way, don't hunt for the gap. The market does not really care about gaps, some don't close for months. In my experience, if a gap did not close quickly in Asian or European session, it is more likely than not that it won't close on the ...

Cable Update (GBPUSD)

Now we probably will head lower again.

Cable Update (GBPUSD)

That's a common belief, so you have to question it. Long-term, "blue wave" is of course USD-negative, as Democrats will spend like there is no tomorrow. (Note though that Biden win + Republicans holding the Senate OR contested election is very ...

Cable Update (GBPUSD)

It's risk on across all asset classes, selling is risky, at least for now. After a big risk off week last week, a bounce is possible.

Cable Update (GBPUSD)

I am convinced that Bloomberg is manipulating the prices. I lost count how many times they reported a "breakthrough" in Brexit talks.

Cable Update (GBPUSD)