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Cable opens firmer. Relief rally after BOE minutes

By   || August 18, 2010 at 11:59 GMT
|| 7 comments || Add comment

Cable up at 1.5640 from a North American close Tuesday down around 1.5570.  Busy European morning session, cable as low as 1.5500 and as high as 1.5673.

Sterling experienced a decent relief rally after the Bank of England minutes were released.  Media speculation, that two members of the MPC had voted to  extend QE at the last meeting, proved wide of the mark.

Getting reports sell orders now clustered up at 1.5690 through to 1.5720.

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7 Responses to “Cable opens firmer. Relief rally after BOE minutes”

  1. kengur9 on August 18th, 2010 12:13 GMT

    Gerry, why has the oil dropped today? due to the expectations for the oil report?

  2. Gerry Davies on August 18th, 2010 12:29 GMT

    No idea to be honest Kengur

  3. Rance on August 18th, 2010 12:33 GMT

    Hi Gerry, do you think the the sell orders up at 1.569 to 1.572 area are because traders do not think that there is enough good news to push the pair up toward the 1.58 to 1.59 area again?

  4. dinko on August 18th, 2010 12:36 GMT

    why you dont buy USD 1,29+ and sell 1,21-3 and buy them back 1,29+/-

    so every day 2 wins from Monday I do hihi

    this is trend

    I see it from the beach on mobile FXCM no META no research

  5. dinko on August 18th, 2010 12:37 GMT

    sorry mobile typing

    why you dont buy USD 1,29+ and sell 1,281-3 and buy them back 1,29+/-

    so every day 2 wins from Monday I do hihi

    this is trend

    I see it from the beach on mobile FXCM no META no research

  6. Rance on August 18th, 2010 12:41 GMT

    dinko, am I missing something. Wouldn’t you sell at 1.29+ and buy at 1.281-3?

  7. dinko on August 18th, 2010 12:43 GMT

    same…. i do it 3 days this is trend for the week

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