I don't see any evidence to support your conclusion. I hope you are not short. Bye bye range.

Cable Update (GBPUSD)

That's possible. I think any move North will be capped by major resistance at 1.680-1.6850. This is where 50% Fib. and Bollinger 3 meet. If we get there I like to dump my long and enter a short. My 2 and a half cents.

Cable Update (GBPUSD)

I would not Short it there. Given the strong correlation this pair has with equities, it will most likely move higher. Shorting at 137 may be safer. My two cents about Asia- it rarely if ever breaks major resistance.

Cable Update (GBPUSD)

Thank you. I share your concern about this major resistance being tested during Asia, but given the momentum, lack of major selling above 6600 figure and strong performance of equities ( +2% in Asia already), it is possible Europe will just take it ...

Cable Update (GBPUSD)

Long at 1.6575 — After getting stopped out at BE on several shorts I took during the past 24 hours, I am now switching gears. Looks too good to pass it out, even though we are close to the range. malcolmb14, can you share what you seeing ...

Cable Update (GBPUSD)

I used FXCM as well, but bid prices reached 6610 and stayed above (6600) for a good 5 min. No reason that order should have not been executed.

Cable Update (GBPUSD)

And stopped out. This is so annoying.

Cable Update (GBPUSD)

Another Short at 1.6530 — Was stopped out at BE once again. Entered yet another short at 1.6550. Will set SL at BE shortly.

Cable Update (GBPUSD)

Or even higher at 1.6420.

Cable Update (GBPUSD)

Manage the risk ( SET SL NOW) as the failure at 1.6550 for the second day is ominous sign.

Cable Update (GBPUSD)

Another Short at 1.6530 — After I was stopped at BE on the previous short at 1.6470. SL at be already as not willing to take risk.

Cable Update (GBPUSD)

Another one bites the dust at BE. Went long on Euro at 1.4015 to target 1.41.

Cable Update (GBPUSD)

You should have waited until we figure whether resistance holds. There is resistance in 1.6435-1.6450 area, but its being challenged. I am willing to dump my short at BE if we fail to get below 1.6450-1.6435. Dollar is looking Bullish so far this ...

Cable Update (GBPUSD)

Breakout possible — To the downside. Entered a short at 1.6470. Looking to see if we break 1.6450. If so, will target 1.63

Cable Update (GBPUSD)

I can show you a similar chart from 06/24, but what followed was 1.6230. We are in a range and you cannot lose perspective of that. Bulls are fighting it for sure, but upside is limited.

Cable Update (GBPUSD)

As I said in a previous note, they will fight the fall but the upside is limited ( for today). I intend to hold my short and possibly leave it open over the weekend if we get below 1.6440. Patience!

Cable Update (GBPUSD)

How is trend up when we been ranging for 3 weeks and now we are at the top of the range? The real question is why would you long it here?

Cable Update (GBPUSD)

Bulls putting up a good fight — I am now asking them to stop their futile attempts and surrender unconditionally or we the bears will show no mercy

Cable Update (GBPUSD)

I concur, hence I went Short at 1.6508 ( My earlier long was stopped at BE) . Notice how it is struggling above 1.65- Been around the figure for about 8 hours now but has not managed to close above it. It's acting pretty crazy, so a snap North is ...

Cable Update (GBPUSD)

Long 1.6482 — Risky one. Will manually stop it if it gets close to my entry point. It's just screaming Bullish.

Cable Update (GBPUSD)