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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. #23206
    stryker's Avatar
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    Quote Originally Posted by JohnG_FX View Post
    Hi Stryker

    Agreed - also looking for a small bounce today on cable and then down again. I'm expecting a low on Monday/Tuesday and then a bounce that should last about a week.

    GBPAUD has been the saving grace for me this week. just closed scalp longs from yesterday and gone short again @ 1.6051 with stop at 1.6180 could get a bit higher and will add.
    Brother JohnG_FX... always good to hear from you.. First attempt on GBPAUD and it took me good 30 secs to find out where this pair is on my charts instruments..
    Happened to go st to the weekly and I have my jaws dropping to the floor.. I suddenly felt thirst for a CUP of coffee or tea..
    I'm sure you got the msg................. This ... well .. most likely gonna go nuts on AUD here.. What to imply is that GBP up and AUD lower on the coming sessions perhaps weeks ahead.........
    Now I'm not good in handling the CUP of coffee or tea, but lemme know what you think on this tgt......... the tgts are generally the blue lines...
    Dang this pair looks awesome on charts... just did the 8 hrs and I dunno who to curse out....
    Anyways, I'm sure you will enjoy this... as this was meant only for you.............
    GL..
    Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
    The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
    Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...

  2. #23207
    JohnG_FX's Avatar
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    Quote Originally Posted by stryker View Post
    Brother JohnG_FX... always good to hear from you.. First attempt on GBPAUD and it took me good 30 secs to find out where this pair is on my charts instruments..
    Happened to go st to the weekly and I have my jaws dropping to the floor.. I suddenly felt thirst for a CUP of coffee or tea..
    I'm sure you got the msg................. This ... well .. most likely gonna go nuts on AUD here.. What to imply is that GBP up and AUD lower on the coming sessions perhaps weeks ahead.........
    Now I'm not good in handling the CUP of coffee or tea, but lemme know what you think on this tgt......... the tgts are generally the blue lines...
    Dang this pair looks awesome on charts... just did the 8 hrs and I dunno who to curse out....
    Anyways, I'm sure you will enjoy this... as this was meant only for you.............
    GL..
    Good to see you still posting regularly

    Yes that's what I'm looking at. I want another correction lower before going long again but then it should be a very nice longer term hold.

    Edit : Posted the original setup back in January on the EW thread : http://forexforums.dailyfx.com/ellio...ml#post1032956
    Last edited by JohnG_FX; 05-18-2012 at 03:49 AM.

  3. #23208
    Howdyy is offline Member
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    Price dropped considerably to the 32 LM #2 low due May 16. There may be a little retracement to the 3 high due May 20, then more drop to the 4 low due about May 24.

  4. #23209
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    Alejandro Zambrano is offline DailyFX Analyst and Forum Moderator
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    GBP/USD May 18 - 2012


    GBP/USD is right now trading against its downtrend which is fully normal. I expect price to stall out close the region of 1.5860-1.5900 - this will be a good opportunity to short as we will be in a short term overbought condition. This means that the risk will be lower compared than the potential gain.
    After a reversal takes place I expect price to reach 1.5750 and possibly 1.5700. In case the price trades above 1.5950 then I will not consider this as a normal correction rather the end of the downtrend. If this happens I would not be short as the trend will not be bearish.


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  5. #23210
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    Cool

    I would not like to get caught with a long trade. The road to the bottom is 400 pips........
    With two retracements on the way, there is still over 1000 pips to be made getting there........
    Last edited by Ikee; 05-18-2012 at 07:07 AM.
    Never rush a trade. Make haste slowly.

  6. #23211
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    Happy Facebook Friday Traders! Here is the Speculative Sentiment for 5/18/2012

    Hello Traders,

    The US economic announcement cabinet is empty as all eyes will be on the Facebook IPO and the G8 Meeting in Camp David 63 miles from Washington D.C.

    This G8 meeting will last 3 days and end Sunday. The statement following will be heavily watched as some type of collective intervention or other announcement could be in store!

    Happy Trading!
    Greg McLeod
    DailyFX Forum Moderator

    SSI Details:
    [GBPUSD - The ratio of long to short positions in the GBPUSD stands at 2.83 as nearly 74% of traders are long. Yesterday, the ratio was at 4.24 as 81% of open positions were long. In detail, long positions are 15.1% lower than yesterday and 10.8% stronger since last week. Short positions are 27.5% higher than yesterday and 32.9% weaker since last week. Open interest is 7.0% weaker than yesterday and 4.7% above its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.
    Last edited by Gregory McLeod; 05-18-2012 at 09:16 AM.
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  7. #23212
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  8. #23213
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  9. #23214
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    It is looking promising to be short the GBP/USD today

  10. #23215
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    Quote Originally Posted by Alejandro Zambrano View Post
    It is looking promising to be short the GBP/USD today
    I agree with you, but we may have more to go with this counter trend rally. What you hold short over G8 weekend?
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  11. #23216
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    GU - Possible inv HNS and a 5980 tgt

    Various time frame charts and a move under 5788 was surprising... however price has formed a possible inv HNS on the 2 hr chart and would be interesting to see a 5844-46 break now.. 5770 is supp on dips.. A move under 5770 dents the view on GU for a higher move..

    GL...
    Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
    The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
    Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...

  12. #23217
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    Looking for a bounce to around 1.5940. Then the weekly chart shows my long term outlook for Cable......
    Never rush a trade. Make haste slowly.

  13. #23218
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    Cool

    Quote Originally Posted by Ikee View Post
    Looking for a bounce to around 1.5940. Then the weekly chart shows my long term outlook for Cable......
    4h take.........
    Never rush a trade. Make haste slowly.

  14. #23219
    Howdyy is offline Member
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    32 lunar month Delta outlook, LM #30

    The #2 low was two days late. The #3 high is due now, May 20, and the #4 low is due about May 24. Look for more downside to come this week.

  15. #23220
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    Quote Originally Posted by Howdyy View Post
    The #2 low was two days late. The #3 high is due now, May 20, and the #4 low is due about May 24. Look for more downside to come this week.
    Hold that 2 days late thought. Settle down have a coffee, have a snooze, another coffee. This retrace could take 2 days.
    Never rush a trade. Make haste slowly.

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