Cable has been as low as 1.4944, presently at 1,4953.
Technical supports 1.4942 and 1.4900.
BIS seems to have stopped the bleeding in EUR/USD at least for now. We’re sitting at 1.3595. It sounds as though they’ve got something of an ongoing interest.
26 Responses to “Cable extends sell-off”
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AUTOREFRESH 
1.4850 is the 61.8% fibo of the move from Jan 09 low to Aug 09 high.
Friday’s sells were heavy on Euro, Aud and Gbp…I’m impressed. Don’t know what hedge funds are buying but I saw big sells.
Cable is crashing. At this rate will be looking at .4392 (22/409 low). May be even lower in the near future.
i thought theres talks abt germany/france bailing greece out?
Of note NZDGBP at major multy year resistance 0.4700.
What happened in Cable just there?
Ridiculous!
Damn, GBP/USD has fallen through the floor. A low of 1.4750
jeez… eur dollar was a buy till 1,37…
gbp has triggerred sell off.s in eur too..
any has any clues whats going on??
total bs toal bs manipulaion this game is now officially rigged..been at this 10 years never seen such massive manipulation this game is now rigged
us’s cali is larger prob;ame then greece, and aig selling a unit for cash does not equal risk aversion gimme a break massive maniplation
Wonder what NY boys will see when they hit their desk in a few mins. The left poor old cable at 1.5250 on Friday and now they’ll see cable at 1.4750? Presently up near 1.4900 but still a whooping 350 pips drop in 2 sessions?
C’mon Cable bulls. Bring it on.
Will we ever see 1.50 back in cable?
For heavens sake zz, calm down and stop pissing into a hurricane. You been told of weakness in the Euro in previous weeks yet kept saying/implying Euro would strengthen. Trade the trend and not what you desire. As far as Cable is concerned it’s reflecting the mess this Labour goverment has caused with it’s non stop borrowing and piss poor economics.
BAN SHORTING OF GBP
Stewart, but this is ridiculous. 400 pips in a day. I dont think we ever saw that even during GFC.
stewart the same piss poor give spending X 10 is what the usa is, the greenback is worthless…
even warren buffet just said on cnbc to STOP IT already to the specs driving the euro down and greenback higher..
Puks, no it’s not ridculous – it’s forex. It’s what makes trading forex deadly if your wrong or bloody profitable if your right.
Gpb/Usd has fallen big in the past. As forex traders which i assume is what most if not all of us are, does it matter what direction a currency pair might take? So long as your trading the correct direction up/down then no it dosen’t .
zz, that’s rich coming from Buffet, are you telling me he’s never made money trading forex?
Last week we saw the options players steam into the EURUSD 1.35 puts now we see them crash into GBPUSD 1.48 puts. These moves are bound to break many trader’s spirit (mine included) where technical trades collapse at lightning speed, collecting stops in both directions.
I keep checking on several pairs each day to see if there are any signs of stability in the market but instead of it looking clam and clear I see nothing but wild, erratic moves that are of even greater magnitude than the previous week. Insane ….
Perhaps Buffet want’s the Euro to stop falling because it damaging one of his investments, not because he loves the Euro.
400pips in a few hours. It goes to show you have to trade what you see in the chart and not the news. Today there was nothing new yet look what has happened. My only thinking for a fundamentals perspective is that a downgrade of the UK rating is looming and some people know about it already. From technicals this is a 3rd wave under the elliot wave theory.
ZZ in the long run the dollar will lose value, no doubt in my mind. Is it the moment now? No. As long as most debt in the world is denominated in dollars and the mood is to repay it rather than to enlarge it dollars will be in demand.
Come on Ref : Offside by a mile !
well i would go to uk for my holiday as its cheap
I am holding on to my longs from 1.4990 and hoping to get out at B/E, hopefully SOMEDAY.
hereby I declare that once I get out of Cable, I will never ever trade cable again in my forex career.
I mostly trade AUDUSD only but lately got bored by slowness of this pair but now I think slow and steady wins the race. Atleast AUD follows the charts!!
Cable is getting thrashed the way we smashed the pommies 5-Zip in Ashes
LoL 
Wow – utter delusion.
Cable will reach 1.55 i bet, see UJ it goes from 85 to 93 before….why not cable