That all depends. If Eurozone banks are faced with negative deposit rates, I think they'll chose to park their cash in USTs instead. After all, Eurozone banks have and require hoards of US Dollar reserves for commercial trade purposes so exchange ...

The Club!

Yep... Lunch time for me also. I'll be back for pre- NY trade to see what's happening.

Cable Update (GBPUSD)

I wouldn't depend too much on the holding power of previous support and resistance after today. Thin liquidity has a tendency to turn these levels into wet toilet paper. However, I am watching 1.6292 and 1.6250 for possible support areas.

Cable Update (GBPUSD)

Obviously lower, but then at some point they will be saying that it is the core inflation that matters the most. Central banks often flip flop on what they say that is most important to them in monetary policy matters. It seems as if the measuring ...

Cable Update (GBPUSD)

Hmmm. Take a chill pill. If I'm getting on your nerves, stop your chirping. Actually, your attitude is the only thing that sucks more than your analysis. I never pretended to be the empirical expert on these matters and that is why I asked you for ...

Cable Update (GBPUSD)

Have you looked at how the JPY has played a major part in all this? More specifically how Japanese are investing in European sovereign bond markets rather than Japanese Government Bonds? I can see the same things without looking at the charts, but ...

Cable Update (GBPUSD)

Good question. Perhaps it is all the unemployed youth in Greece, Spain and Portugal maxing out their credit cards in the FX markets instead of spending the money on booze and expensive designer clothing.

Cable Update (GBPUSD)

Okay thanks for the links and just as I suspected, these are not seasonal job cuts. These are one time structural changes. If these job cuts happen to fall in Nov and Dec, then that is just coincidence. FYI, I already knew about these restructures, ...

Cable Update (GBPUSD)

Oops. Typo. I meant monthly EMAs

Cable Update (GBPUSD)

Here is the latest retail positioning from Oanda as at 10:40 GMT (After the short squeeze) and it amazingly still shows 75% of cable positions are short. More squeezing to come . image

Cable Update (GBPUSD)

Do you have a source for all these quoted statistics? Even just some links to charts or an authoritative article / paper ? I have never heard of high profile financial guys getting fired in November / December, and it's not like I just crawled out ...

Cable Update (GBPUSD)

1.6650 is the 200 week month EMA. The 100 week month EMA comes in at 1.6380 So yeah, valid numbers, but for now we have to see how the macro unfolds because I don't really see 1.66 in the next few days. Of course it's not impossible as a really good ...

Cable Update (GBPUSD)

Remember the US Jobless claims are scheduled for today instead of tomorrow. So this could present a pullback if the numbers are less than expected.

Cable Update (GBPUSD)

Obviously a wait and see. I'm only speculating. Besides, one should not enter unless there is a safe opportunity to do so with a favorable RR

Cable Update (GBPUSD)

Oh grow up. Don't be a hypocrite

Cable Update (GBPUSD)

Certainly a potential top. I think NY trade will determine that. Cable is looking a bit stretched to the upside on H1 now so we may get a small pullback to pick up some more bulls.

Cable Update (GBPUSD)

If it breaks, it's going to be interesting. I wouldn't rule out a bull trap though.

Cable Update (GBPUSD)

Precisely. I only posted that comment because you mentioned shorting G/U now. If we get a 6300/40 top today, then you could go for a few pips south to retest the broken resistance as support I suppose. I won't be trying that though as I expect USD ...

Cable Update (GBPUSD)

That may be true, but when the USD resurges next week, I would not be betting on massive cable gains vs the dollar. Perhaps selling EUR/GBP rallies would be a better idea.

Cable Update (GBPUSD)

I don't care how much air is up north. I am behind the sharks with a long at 1.6242 and already set at BE. It can do whatever it pleases now. Zero risk for me.

Cable Update (GBPUSD)