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Support 1.7530
Resistance 1.7780, 1.8000

If thats any help

thanks

Hi hilary...quess that getting over todays trading high of 1.7647 turns the show into a short term buy..


I be interested to know the current thoughts of the MPC post
yesterdays figures.

Perhaps rates wont go to 5% in the UK this year now..
If 4.25 or even 4.5% is seen as top this year
(given the state of manufact. seeming so imp to the MPC)
then Cable will have further to fall

Have to say though that the MPC seems to be in a time warp that
we are still a manufacturing rather than service economy
In todays climate you cant manage both with the same stick
When will they learn this..

foale,

I've drawn a resistance line from the spike high on Friday through the highs of yesterday morning and we seem to be through that this morning and it has since bounced from that line as support.

My oscillators on the hourly chart have turned upwards although they're still oversold and really need to rise up some more for confirmation/comfort. I'm hoping for a lift from the 9:30 to trigger some more short stops and for some bulls to come in on the 10:30 to provide the upwards momentum. Tightish stops until the news has been digested.

So far your wish is coming true

but 1.7710 the bottom of another resistance level

Hi

I followed wht you said & closed a short at 1.7641 - opened a long and......

thanks

closed the long +41 opened another short

out of a long 1.7715....now waiting to see

edit..went into the resistance zone more that I thought
but resistance it is at 17715-17740
Took out another 25 points from 7736 down...now flat again

Can see us doing a bit of range trading between 17740 and 17690
so sitting on hands

closed the short flat -opened a long - went out! & now happy.

I love it when a plan comes together.

:o)

Testing yesterdays hi's...

Well done Hilary

Looks like it struggling a bit now though 17792
Trying a small short

Well I'm running a 60 pip trailing, so I wish you luck for 50 pips but no more than that!!!!!!

:o)

rats - closed the long & went short.

hmmmmm long or short from here???

Sue,

This move has probably got another 150-200 pips on the long side over the next 48-72 hours imo. Can't guarantee that it'll go in a straight line though.

I guess Tellon would probably concur.

Im still long from my earlier postions,

Long @ 1.7709 +61 pips
Long @ 1.7614 +156 pips

I think now is the time for a slight breather but there is more gains to be made. IMO

The short answer, Hill I concur (I think thats the spelling)

thanks guys - its a bit of a roller coater!!

and this morning the chief forex dealer from hbos
declared on bloomberg that would come under a lot more pressure today



hmmmm - if i had an acct with them i'd close it.

hilary your 60 pip trailing..is that an auto trailing stop or you manually hike it up now and again?

Promise only looking for 59 pips now on the downside from the highs
then my close and reverse should ensure the market turns back to the highs
on a weight of money arguement :-)

foale,

Automatic???? I'm a manual dinosaur.