February 25th, 2010 13:56:00 GMT

Cable penetrates 50% Fibo; watch close


1.5270 is the 50% retracement of the 1.35/1.7042 rally and that level has been penetrated on an intraday basis. A close below that level will likely bring further weakness in the coming days from long-term investors. 1.5000 barriers are sure … Continue reading

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February 25th, 2010 09:03:34 GMT

King up soon


09:30 GMT: Merve the swerve before Banking Commission hearing on the future of banking. No wonder sterling’s struggling this morning.  Everytime he opens his gob it gets clobbered. Initial support, as mentioned earlier, 1.5300/05.

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February 25th, 2010 06:48:44 GMT

Cable opens lower


Cable has given ground overnight, presently down at 1.5330 from a North American close Wednesday up around 1.5400.  Stops tripped on move through 1.5345. Supports next at 1.5300/05 and 1.5275.  Stops likely below both levels. Cable could do with a … Continue reading


February 25th, 2010 01:57:32 GMT

GBP/JPY: bearish breakdown


This pair looks to be in danger of some more significant falls. There is little in the way of any major technical support now until 131.50. As Nicola mentions there is a 61.8% at 135.60 which should be the next … Continue reading


February 25th, 2010 01:02:57 GMT

GBP/JPY flow drives pair lower


Dealers tell me that a GBP/JPY selling flow hit the market at 139.00 and the pair has fallen 40 pips very quickly. GBP sentiment remains quiet bearish. Important cable support at last Friday’s 1.5345 low.


February 24th, 2010 20:10:43 GMT

Cable, glorious cable…


Just far enough. That’s how far cable will go to drive traders mad. Prices dipped to 1.5386, just low enough to trigger the stops perched below yesterday’s lows in the 1.5390s. It remains the cruelest of all the currencies and … Continue reading



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