Forum > View Topic (Analytic)
This thread was started in response to the Analytic:
GBP Trade Index 18-Year Chart
Daily GBP (British Pound) chart of 18 years of cyclical developments in finance & politics
Either way, the cable gig is over in 5 hours 5 minutes upon release of UK GDP
In fact I see USD/JPY has already nosedived, presumably relating to the Japan decision (not updated on our calendar yet, but should be out now), or it may be something else.
So get ready for GBP to go past 1.70, fundamentals may be that it should go to 1.50 as Ashraf made charts, but who cares of fundamentals, Forex is all gambling, where we are an atom and these banks are big stars.
Also GBP may go to 1.50 after few months and Ashraf will tell, I said so. But the problem is by that time most of the folks who reads his forecast will have lost money.
Well, I could certainly see it getting above 1.64 or so.
The pre-election rally is a little harder to figure for the moment, but not impossible I suppose.
Interesting times (aren't they all).
So they will sell into a rising market, catching the smaller players buying following the "trend", then there will be no more buyers, and it will fall ... or something like that?
How high do you think it will go? (We could have a small side bet on this if you like :-) - my more serious worry is that it will spike to stupid levels before falling (IF it falls of course :-) ).
I am probably at Odds with most here.
I see Cable Breaking out upside.
I do not see 1.63/1.635 holding as resistance for too long.
I see 1.75 before the end of July - pre-election Rally on likely Vic 'Tory' with acceptable but unspectacular margin.
Cable now up 190 pips so far this week. What a joke Goldman is. So blatant and obvious.
What we are saying is that Goldman is once again frontrunning on Cable by offering eur/gbp. The UK 4Q GDP report is coming out in 7 hours. They have been manipulating eur/gbp and gbp/usd since yesterday, just as they did a week ago.
Their plan is : Front run, pump, then dump.
We are currently in the front run stage. They will pump on release of the GDP report, release their own prewritten report from two weeks agao, and then dump immediately after.
This is what Goldman does. This is how they "earn" their money for bonuses.