Still buying the pullbacks in the cable , Globalfxllc ?:eek: Give us an update please.... We really need your expertise...
We think the call speaks for itself. But yes we are looking to buy the pullbacks though given todays action and eur making new lows we are not as bullish as we were yesterday
I placed an order on GBP/USD at 1.8666 and its at 1.722 and i dont see it letting up anytime soon...This is my first long term trade i have made
In the past I have slated Global because of certain things he has claimed. However I don't really think it is justified to have a go at him in this instance and if he wants to sometimes put up a trade recommendation then good for him. If he proves to be reliable then that is a useful service (as is the fact that if he is useless then it will be a good reverse indicator!). In this example I think it was a decent call. The day after he made the call cable was bid all day and he correctly identified 1.8750 as a trigger point. He also correctly identified the euro/sterling cross as being very offered. Of course the call to buy more on a dip towards 1.8750 was wrong but so be it. Anyone who didnt take a profit on the intial call would probably still be on side and wouldn't have run the loss more than the profit that was available, but not taken. (Sterling is, and has been for a few months, a great currency to trade. Everyone knows that euro rates will stay around 2% for 2005 and that US rates are heading north of 3% this year. Ask a number of people where UK rates are going and half will say the next move is down, the others that it is up. This means that all UK figures have a great influence on the markets and hence make trading easy...ier. Furthermore when sterling moves it knows how to shift a few big figures very quickly.)
cable dumped ... here is a possible reason friday am in london ... -GBP/USD: Slumps by a Cent on Very Weak UK Retail Sales Data-
That isn't a possible reason - it is the reason. As I said cable is a great currency to trade at the moment - reacts to all data in a very big way.