Turned out to be a decent trade. Maybe I will keep it for now; UK politicians developed a habit of delivering bad news over the weekend. Even if nothing special happens, I don't expect a big jump up at the open. Good weekend to everyone, and happy ...

Cable Update (GBPUSD)

Ok, I run out of patience, sold at 1.2988, SL 20 pips. I think we either break resistance at 1.3 and then go much higher helped by stop losses just above (including mine), or we drop much lower without breaking. Either scenario is fine with me; it's ...

Cable Update (GBPUSD)

Agree, bulls really struggle here. I hope to see a break, but they may have to settle for consolidation at this level and drop later.

Cable Update (GBPUSD)

The price action today was very bullish; I think bulls will redouble their efforts to break through 1.3-1.305 zone tomorrow, we'll see if they are successful. Medium-term I am still bearish of course, Brexit issues have not gone away (and contrary ...

Cable Update (GBPUSD)

This is of course correct. However, when markets react to some news which are not new or important by any means, I suspect they follow their own agenda, using news as pretext.

Cable Update (GBPUSD)

Another interesting thing, with my broker the price went to 1.29984 today and to 1.29994 yesterday. I guess it tells you there are a lot of sell orders exactly at 1.3.

Cable Update (GBPUSD)

Of course any politician would say the deal is possible until it failed completely (and sometimes even after that). That's just an excuse for stop hunting -- I would guess hugely successful, 80 up, 60 down. Maybe there is some unfinished business ...

Cable Update (GBPUSD)

The markets are becoming predictable in the way they play central banks announcements. Took 60 pips today, some of the easiest 60 pips of my life. G/U may rise again, they still need to sell Brexit news next week and beyond, maybe will do this from ...

Cable Update (GBPUSD)

Be careful, post-BOE volatility likes to kill stops.

Cable Update (GBPUSD)

Sold at 1.2956, will sell more if it gets to 1.3. Looks unlikely at the moment though, probably move to 1.296 was that fake move I expected.

Cable Update (GBPUSD)

FOMC played out as expected: very dovish, but not dovish enough for the markets (I guess market expectation is now "free money for everyone, forever"). I now think 1.3 was the target for the bulls, and we are probably going lower from there. There ...

Cable Update (GBPUSD)

Positioning ahead of FOMC started on Monday and indicates weaker dollar but I am not sure. Fed is very dovish already (and this is priced in), I doubt they will introduce more dovish measures today. So EUR/gold/GBP is likely to rise at least until ...

Cable Update (GBPUSD)

About volatility, I am fine with what pound gives me. Not sure I want much more, it's not healthy.

Cable Update (GBPUSD)

60 pips for EUR isn't small nowadays. 200 for gold is not huge, but it broke momentum going from yesterday. I look at hourly, the graph is not pretty.

Cable Update (GBPUSD)

EUR and gold are crashing hard, you think these are traps?

Cable Update (GBPUSD)

Took 50 pips, I guess it may go both ways from here. Also, important data point at 7am London time tomorrow (June unemployment change).

Cable Update (GBPUSD)

Took a short at 1.2899; stop 110 pips (for now), target open (for now). I feel that in spite of buoyant risk mood today, almost 1% gain against dollar is sort of a stretch for GBP. I understand technical reasons behind it, but fundamentally, the ...

Cable Update (GBPUSD)

Hit SL. Some dollar selling early in the US session.

Cable Update (GBPUSD)

Short 1.28733, sl 10 pips. Price seems stuck, it may still shoot higher for sure, but it may also start dropping, and has a long way to drop if it wants to.

Cable Update (GBPUSD)

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Cable Update (GBPUSD)