Just curious. My system indicated earlier that the pound yen rally could have ended and also that the cable rally had ended. I went short on both and then read that the low unemployment rates may boost the pound further to reach the 1.58 mark again. I then wussed out and closed both my positions.
Is anyone selling either pair and why?
Why? I’m making plenty long, and it’s shown me no signs of stopping just yet.
Agreed, its been a nice ride. However, I’m keeping an eye on 11/15/12 (UK 15/11/12)… 1.5825’ish given the support (now a possible resistance level). Daily pivot @ 1.5787.
In most cases I would be inclined to agree with you. But what I’ve been looking at is the top of the over 3 year old channel:
With a solid break of that last weekly high, this push just might have the gumption to get all the way up there.
After that it gets interesting…
We shall see 
Interesting MT… hadn’t pulled up the charts that far back, thanks for the heads up! However, given GU’s high correlation to EU it will be interesting indeed. Looking to the weekly on EU, I’m figuring its pretty much topped out @ 1.3323 on the bar give or take.
1.5900 will hold it until next week… It will be up to the FOMC after that… More then likely it will not break 1.5900… Probably topped out now… I need some sort of fundamental reason to short pound though… Up to this point there has been none… The inflation hearing tonight may provide the catalyst for the break down…
I’d agree with R Carter that Eurusd is pretty well topped out as well… I can’t see it getting past 1.3335.
Dunno. It’s definitely at a place to turn if it’s going to. But it could make a break higher as well.
The EG tells me that the EU has been the weaker of the two for the last few weeks which gives me the inclination to stick with my buys on the GU a little while longer.
Watching them for sure 
I closed my longs yesterday and looking to go short on GBPUSD, I think the rally has fizzled out more or less. We may get a few more pips but I don’t see it break 1.5900.
GBP/JPY looks like it reversed at 15859. My geuss is cable might push up to 15850 then follow it down. we shall see.
Went long at 1.5787 today, looking for 1.5850 for today’s TP.
I am short GJ at 158. Stops at BE, Target 155 or the weekly opening price. Am I being too greedy?
GU is strong but overbought and is due for a retracement
USD is probably going to continue lower to the highs of 10600.
That will make UJ drop lower although it’s strong as well.
I just like the look of this text book buy trend…could we go higher, I have my level marked out for tomorrow should we see a push higher 
Ya I agree. If USD falls, GU will go higher. The question is when will USD stop falling? Or what are signs of a trend slowing down? USD is at the lows of August. GU just broke the last significant high.
I have no idea tbh, it will do what it wants. Rather than trying to second guess the market I just use the previous day as a guide and wait for confirmation at these marked out levels. Sure this usually means you’re not getting the entry to the pip, but the confirmation far outweighs the slippage.
i am short on GBP, it seems to do with the BOE’s comment to retain its interest rate.
Been reading along guys and GU looks a tough call? My read (until proven otherwise) is 1.5839 was the high and now PA is sitting right on the daily pivot as I type this. A break through and a test past 1.5770 and I’d call it as a longer trade short. That said, I like EU much better and have re-entered @1.3312 after closing my daily short from yesterday for a tidy gain .
Based on my fundamental analysis, it seems there’s a long bias on the pound (strong UK data, upbeat remarks from BOE officials). GBP/USD could sell off if today’s US retail sales release comes in very strong though and confirms the Septaper. What do you guys think?
tonight’s data release on retail sales will be the last one that will impact on tapering. i am all for fed cutting bond purchase but by how much, no one knows. so it looks like swinging, current market sentiment is all long usd but tonight we shall know.
up we go, the question is "Who took yesterday’s LO/NYO support and bought today at that level (1.5785x)… ekk
the big white sharks are in action for the past 20 minutes!!!:rolleyes:
