GBP Trade Index 18-Year Chart

@Angelica: Whether it is manipulation or not, and tricky as it might be, the moves in cable actually do give opportunities, if you are willing to take the risk - counter one's own "risk aversion" as it were.

My own approach is large stops and patience. Not everyone's cup of tea I know.

There are also scalping-type opportunities.

Ashraf has recently tweeted that Euro is a safer short than cable.
The big question for me was whether Euro would significantly rebound up (well above 1.4) before sinking properly beneath 1.4. It didn't seem to in the last 8-10 hours. I usually end up shorting it too low, and am trying to avoid that this time. It doesn't look like it's going anywhere fast for the moment, but as we all know, things can quickly change. I have no reason to doubt Ashraf's 1.38 target ultimately. My only question is where it will go between now and then.

Dear PippedOff,

You have been So right for the last several weeks with your Cable comments and the Cartel. No other explanation makes sense.

I am honestly at a loss here for any good ideas to trade. Which currency is safe from the Goldman Dog's manipulation? What do you usually trade?

Thank you,

Angelica.

What just happened with gdpusa

Anyone else get slaughtered with this advice? It went directly to 1.6253 and went back. Stopped out for major loss. I guess that is the risk of heeding others advice.

As I said, Goldman controls the trading on cable. When they have fleeced the public enough, the trash that is known as gbp will wind up well below 1.600.

Until then, Goldman will continue offering eur/gbp to the unsuspecting public.

Short Cable at your own peril.