Thread: GBPUSD

Use this thread to go over Pound vs US Dollar.

Going back a few months it looked like that news announcement moved around 20 to 33 pips. It seems like it was listed only every other month and has been also call CBI Industrial Trades Survey. Those I saw were listed on the 4th Wed. at 6am eastern time.

Tom

Just out of curiosity, how do you guys think the pound will respond to bernackes discuss this friday?

Depends on what news comes out before he speaks. Latter on could do a check with how it has responded the last few months when he speaks. The forexfactory calender reveals red so that is giving some indiction to a fair quantity of movement. I also get information from a couple of fellas that exchange the news they need to by midnight tomorrow come out with some information on that. It may be a good idea to check at recent history on a couple of another announcements listed at this web site for Friday morning at 2am and 430am.

Tom

At the moment the GBP is channeling around the 38.2 Fib of yesterdays sessions of low and high 5pm eastern Aug. 22 to 5pm eastern Aug.23. The 4h chart's 14RSI are under bought. Are we looking at a different rally toward 1.8995. The pivot point is currently about 13 pips over current level of 1.8916. When the 2am session opens it might be a long with support from yesterdays high being 1.8876 and 1.8854 or so based the last coulple of weeks key support and resistance factors. If it hits that markers are goes 10 pips past based momemtum. On the other hand in case it starts toward the down side it'd a short. Any ideas beyond that.

Thanks Tom

The EURUSD and GBPUSD is around 90% connected. If the EUR fall the GBPUSD will drop as well. Opposite applies to the USDCHF.

I tried something new now, knowing I'll be off from trading workstation for a while. I have setup limit market orders for the two cable and fiber according to yesterday's range and day high. For cable market order was set 30pips below yesterday's high using a SL 30pips preceding high. It worked ok. 60 for cable, 30 fiber. Nothing major, but it made my day.
Happy trading.

Hey Raczektx

I see you use the Vegas tunnel of 144 and 169. I've and been reading on it what sort of indicators to buy and sell have you gotten out of it. Not sure if I am wording it correctly.

Due

Tom

I use it mainly to find out what's happening on a time period. In terms of buy/sell signal I don't use it quite often.

Originally Posted by ;

Hey Raczektx

I see you utilize the Vegas tubing of 144 and 169. I have and been reading on it what sort of indicators to buy and sell have you ever gotten from it. Not sure if I am wording it correctly.

Thanks

Tom

I believe GBPUSD begins to return. It is time to short GBPUSD.

1st aims at 1.8887.

If it reaches 1.8822, 2nd aim may attain 1.8647 or under.