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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:

GBP

Discuss GBP
 
catnip
Frankfurt, Germany
Posted Anonymously
15 years ago
Apr 7, 2010 7:23
It appears massive transfer of EUR to GBP has propelled GBP. That may continue as the EU stance
re PIGS is as ridiculous as it can get.
Shane
Pakistan
Posted Anonymously
15 years ago
Apr 7, 2010 6:54
However i dont recommend buying or shorting at 1.5150. if gbp is respecting the key levels i think we should as well. Short trigger in my case is 1.5280 and buy trigger is 1.4820. SL 1.54 and 1.4760.
PureStones
Korea Sout
Posts: 67
15 years ago
Apr 7, 2010 6:53
ok catnip! what kind of program or website do you use? (i want to learn your method)
Shane
Lahore, Pakistan
Posts: 209
15 years ago
Apr 7, 2010 6:49
I agree with said and catnip in there own ways, because if you look in a little larger prospect going short is not recommended, guys have a look at weekly and monthly charts. We had the biggest gbp rally last week this speaks of buying interest developing at 1.48 at the same time i believe we may see two more legs down or atleast one more towards 1.44. I personally feel that its better to buy at 1.48 and 1.44 rather than shorting at 1.53 or 1.48. however it doesnot mean that you should not short it at these levels but i think we are due for a rebound soon (couple of weeks)and it might get ugly for shorts.
Mehdad
London, UK
Posts: 9
15 years ago
Apr 7, 2010 6:40
Hi Ashraf

Do you still see GBPUSD bellow 1.48 ?

Thanks
said
mulhouse, France
Posts: 2822
15 years ago
Apr 6, 2010 23:40
OK CATNIP

rolling over the proceed will make the futures yield going south but actually they r heading north at
4 1/4 after the pullback
the four percent mark is gonna be retested sooner or later and i dont think well have the correlation treaury-equity working the usual way.
or due to temporary yen strengh we might experience a flight to safety, like we had today, before or after the ten years auction tomorrow.
i know that FUNDAMENTAL LY there are no reason for sterling strengh but on a technical point of view i have the 1.5400-5450 level.
there are period when market gott uncorelated. how do explain fundamentally GLD strengh with usd strengh despite rba rate hike.
catnip
Frankfurt, Germany
Posted Anonymously
15 years ago
Apr 6, 2010 22:26
Ok. Here is a reason:

Tue Apr 6, 2010 3:07pm EDT

WASHINGTON (Reuters) - The Federal Reserve is considering allowing maturing Treasury bonds to roll off its portfolio as an alternative way to drain reserves from the banking system, according to minutes from its March meeting.

The move would mark a shift from the current policy of reinvesting the proceeds from government debt into new Treasury bonds as the old ones come due.

This would serve as an additional tool for removing the extraordinary stimulus the Fed injected into the banking system in response to the worst financial crisis since the Great Depression.

"Redeeming all of its maturing Treasury holdings would significantly reduce the size of the Federal Reserve's balance sheet over coming years and hence could be helpful in limiting the need to use other reserve draining tool such as reverse repurchase agreements," the minutes said.

Many economists, including some key Fed officials, worry about whether the large amount of excess reserves now sloshing around the banking system will dampen the central bank's ability to tighten policy effectively.
catnip
Frankfurt, Germany
Posted Anonymously
15 years ago
Apr 6, 2010 21:42
Ok said
but WHY should I go long on GBPUSD? I see no reason for USDx drop but many for GBP weakness.
said
mulhouse, France
Posts: 2822
15 years ago
Apr 6, 2010 20:53
pipster
catnip

buy cable on dip at 1.5250
catnip
Frankfurt, Germany
Posted Anonymously
15 years ago
Apr 6, 2010 18:29
Pipster
I don't use charts as source of entry/exit signals I work only with bond and credit market figures
and use a multivariated approach to determine values of currencies and pair weak and strong.
Now USD isn't as strong as calculated. But mostly I trust my approach I don't see much strength in GBP
Since I am a swing&scalp trader I am not much interested in perfect exit signals only in entry. 10% is better than 100% you'll be waiting for forever.