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View Poll Results: What impact will the Bank of England Rate Decision have on the GBP/USD?

Voters
14. This poll is closed
  • Send GBP/USD Higher!

    8 57.14%
  • Send GBP/USD Lower!

    4 28.57%
  • The rate decision will not have a significant impact.

    2 14.29%
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  1. #21526
    AyoBro's Avatar
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    Quote Originally Posted by AyoBro View Post
    Ohhhhhhhh myyyyyy!!!
    Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'

  2. #21527
    MOZI32 is offline Member
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    hi good day

    i know i might be wrong , but that what i see . and good luck for every one.

  3. #21528
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    4Hr GbpUsd Wave Analysis 4-7-2011



    Break of 1.6271 suggests corrective decline [(a)-(b)-(c)] from 1.6400 has ended at 1.5935. Subsequent rise from 1.5935 has unfolded impulsively with wave (1) ending at 1.6042, wave (2) at 1.5941 and wave (3) currently unfolding. Break of 1.6220 support confirms the completion of wave (3). Wave (5) is expected to test 1.6400. Below 1.5971 invalidates bullish outlook.

    Strategy: Short below 1.6256 with targets: TP1 1.6200; TP2 1.6149; TP3 1.6098. Long above 1.6364 with target: TP1 1.6456

    For Daily/Weekly/Monthly Wave Analysis Visit: Surf The Elliott Wave
    It aint about how hard you hit, its about how hard you can get hit and keep moving forward! *Rocco*

  4. #21529
    AyoBro's Avatar
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    Quote Originally Posted by MOZI32 View Post
    i know i might be wrong , but that what i see . and good luck for every one.
    I'm liking your TL drawn off the 6151 & 6177 tops for support.
    Last edited by AyoBro; 04-07-2011 at 11:48 AM.
    Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'

  5. #21530
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    Quote Originally Posted by fxgeniusnyc View Post


    Break of 1.6271 suggests corrective decline [(a)-(b)-(c)] from 1.6400 has ended at 1.5935. Subsequent rise from 1.5935 has unfolded impulsively with wave (1) ending at 1.6042, wave (2) at 1.5941 and wave (3) currently unfolding. Break of 1.6220 support confirms the completion of wave (3). Wave (5) is expected to test 1.6400. Below 1.5971 invalidates bullish outlook.

    Strategy: Short below 1.6256 with targets: TP1 1.6200; TP2 1.6149; TP3 1.6098. Long above 1.6364 with target: TP1 1.6456

    For Daily/Weekly/Monthly Wave Analysis Visit: Surf The Elliott Wave
    You do harmonics? I'm traditional EW but there is nothing I can't learn.
    Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'

  6. #21531
    AyoBro's Avatar
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    Quote Originally Posted by JohnG_FX View Post
    I would agree with that.
    What exactly did you say this time around? I can't seem to find your comment.
    Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'

  7. #21532
    Mary R's Avatar
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    if this goes according to plan we could be headed lower for a couple of weeks..the biggest threat now to USD positions is the chance of govt shutdown

  8. #21533
    Gregory McLeod's Avatar
    Gregory McLeod is offline DailyFX Moderator/Trader
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    GBPUSD Confined Within Triangle: Which Way Will Cable Break?

    GBPUSD Confined Within Triangle: Which Way Will Cable Break?
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  9. #21534
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    Quote Originally Posted by Mary R View Post
    if this goes according to plan we could be headed lower for a couple of weeks..the biggest threat now to USD positions is the chance of govt shutdown
    Hi Mary,

    I don`t feel like ITD8 bottom is in - in bearish case - late ITD7 looks better to me, or ITD8 is yet to come.

    I suspect bullish case here - namely late ITD7/MTD (12) or 12/LTD6 bottom in. This looks a lot like a house with a dome continuation pattern (the whole choppy range). There will most likely be a weekly close above the TL from the very top in 2008 and weekly 100 EMA still holds very well. targetting ITD8 top above 1.64??

    edit: I wouldn`t exclude bullish diamond possibility too - ITD8 marginally breaks 1.64 => sharply down to ITD9 and fnally sharply up.

    Patryk
    Last edited by fazi; 04-07-2011 at 04:17 PM.

  10. #21535
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    Quote Originally Posted by fazi View Post
    Hi Mary,

    I don`t feel like ITD8 bottom is in - in bearish case - late ITD7 looks better to me, or ITD8 is yet to come.

    I suspect bullish case here - namely late ITD7/MTD (12) or 12/LTD6 bottom in. This looks a lot like a house with a dome continuation pattern (the whole choppy range). There will most likely be a weekly close above the TL from the very top in 2008 and weekly 100 EMA still holds very well. targetting ITD8 top above 1.64??

    edit: I wouldn`t exclude bullish diamond possibility too - ITD8 marginally breaks 1.64 => sharply down to ITD9 and fnally sharply up.

    Patryk
    Yes,I see what you mean, it doesn't seem to be behaving as it might if the bearish case scenario were in. Not sure how much of that is due to what is going on in the US

  11. #21536
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    Quote Originally Posted by Mary R View Post
    Yes,I see what you mean, it doesn't seem to be behaving as it might if the bearish case scenario were in. Not sure how much of that is due to what is going on in the US
    Hi Mary,

    Wow! - LTD6/MTD 12 or MTD(12) bottom is confirmed! very early!- Going up to Ltd7 due in the summer.

    Patryk

  12. #21537
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    ok - ITD8 is due today - so the top should be 1-2 days late - if we`re going up to ITD9 top (5 trading days from today) the top should be due a week later.

    I prefer ITD8 top setup.

    Patryk

  13. #21538
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    4Hr GbpUsd Wave Analysis 4-8-2011



    Break of 1.6271 suggests corrective decline [(a)-(b)-(c)] from 1.6400 has ended at 1.5935. Subsequent rise from 1.5935 has unfolded impulsively with wave (1) ending at 1.6042, wave (2) at 1.5941 and wave (3) currently unfolding. Break of 1.6363 suggests the uptrend is resuming. Below 1.6278 indicates a false upside breakout and invalidates bullish outlook.

    Strategy: Long at 1.6364 with stop at 1.6277. Price targets: TP1 1.6456 (23.6% fib-extention taken from 1.5971 to 1.6363); TP2 1.6513(38.2% fib-extention taken from 1.5971 to 1.6363).

    For Daily/Weekly/Monthly Wave Analysis Visit: Surf The Elliott Wave
    It aint about how hard you hit, its about how hard you can get hit and keep moving forward! *Rocco*

  14. #21539
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    Quote Originally Posted by AyoBro View Post
    I'm liking your TL drawn off the 6151 & 6177 tops for support.
    Update.................
    Last edited by AyoBro; 04-08-2011 at 11:35 AM.
    Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'

  15. #21540
    Gregory McLeod's Avatar
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    GBP/USD Broke North From Triangle Consolidation!

    Quote Originally Posted by Gregory McLeod View Post
    GBPUSD Confined Within Triangle: Which Way Will Cable Break?
    GBP/USD Broke North From Triangle Consolidation! Came within a few pips of price projection target
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