Still bullish on cable? Looks like that 250 pip rally just got flushed down the toilet, just like I expected. But hey - call me a comedian, if you'd like.

Cable Update (GBPUSD)

Supporting my earlier observation about the huge rally in GBP being inspired by the tremendous surge in commodity prices is the 1 min gold chart. Superimpose it with GU and it will tell you where the latter is headed shortly. I see 1.9850 should ...

Cable Update (GBPUSD)

First, forex trades 24 hours a day, so there are no "overnight" orders. Second, the drop started roughly 45 minutes after LSE opened, so that's not it either.

Cable Update (GBPUSD)

I suspect the rest of the week will favor USD against the high flyers like euro and pound.

EURUSD

Maybe I misunderstood you - you were referring to the 100 pip drop from 1.9970??? If so, please explain how the earthquake delayed this event by almost half a day.

Cable Update (GBPUSD)

LOL, now that's funny... the earthquake took place like 9 hours ago.

Cable Update (GBPUSD)

Well, I didn't ask for arrogance - just an explanation. And yeah, I do have a day job and intend to keep it; FX to me is nothing more than a very high risk way to grab an extra coin.

Cable Update (GBPUSD)

So if you have, say $10K in your account, then with 100:1 leverage you will open a 2.5K GU position and leave the rest in cash? At that rate a 250 pip gain gives you about $62.5 in profit? That's like 0.625% gain of the account value... not exactly ...

Cable Update (GBPUSD)

Why don't you put all your life savings in a long cable position if your convictions are so strong.

Cable Update (GBPUSD)

250 pips in 24 hours is not a trend - it's hysteria. Don't get caught with your pants around your ankles.

Cable Update (GBPUSD)

It's always choppy around London open. A slide under 1.5 in a matter of minutes is quite plausible.

EURUSD

People should come to their senses and start selling oil and gold - that's where dollar recovery should begin... I'm short cable and it's not looking good. Tomorrow it might all come crashing down though

EURUSD

Looking pretty insane... another 200 pip gain day?

EURUSD

Actually, there's no need to wait a couple of months - the effects of the rate cuts can be observed quite clearly already. If you really believe the housing market (and the economy overall) can be saved by near zero interest rates, have a look at ...

Cable Update (GBPUSD)

Why, the deposit rates have followed the Fed rate very closely.

EURUSD

I would argue that a turnaround in the housing sector cannot be ignited by lowering the interest rates alone, and it seems I'm not the only one who realizes that. Demand is a function of more than just low rates; if the wealth is not there there'll ...

Cable Update (GBPUSD)

If you are willing to be patient, in three week's time a nice profit of 300+ pips may be obtained here. Everybody's pricing in another 50 bp cut from the Fed; I don't think there's room left for any cuts for the time being. Unless FOMC goes ...

EURUSD

The euro should correct in the next 48 hours as well, unless Bernanke says something outrageous during his testimony (e.g. "it won't hurt the economy if we give you two bucks for each one of yours"). It is way overbought and now that everyone have ...

Cable Update (GBPUSD)

Joke of the day.

Cable Update (GBPUSD)

You are mistaken. This is the same point of view that was driving internet stock prices to the stratosphere 8 years ago, only in FX correction timeframes are much shorter. This pair will come back down to 1.9700 by week's end.

Cable Update (GBPUSD)