GBP

cable will drop like a stone guys! its march and we just closed lower by almost 1cent from previous friday close where typically march is USD bearish? not to mention we clearly broke 1.50 pyscological barrier and suckered back the cable bulls in trap mode! 1.20 is reasonable in q4 but 50% chance

@ Juke: You are quite right about the October doji candle. However, what I see this time is a market that has been declining at a fairly rapid pace for about 7 weeks now without any significant retracement on a weekly chart. That being said, these things can go on for longer than you expect.

Typically, your average retail trader would be very excited to sell into a rally like we saw today, which again, makes me more inclined to think the rally may continue at least for a little while longer.

Thats not to say I am a buyer here- the trend is fiercely down, but these bear market retracements can be pretty nasty if you are caught the wrong way. Personally I am on the sidelines waiting for a reason to sell- I just don't see one yet. I do see some reasons for caution on the short side, at least in the near term.

Just my opinion though :)

The only hope of containing the short squeeze in gbp is for King to speak soon. Is he on the docket next week?

gbp will hit 1.53 in europe trade Monday.

Hope evryone here has deap pockets.

Cable: For what it's worth, technically, I'd think that a bounce up to 1.535 might be possible. I'd expect fundamentals to inhibit that in practice though.

rkkasmir said: "Why is there a divergence between (aud.usd and nzd,usd) and gold? "

Go on then RKK, enlighten us. It would be about the first positive contribution you have made here in weeks, if not months. I think you need to step back and ask yourself why are you here. Or just step back.

weekly trend and general bearish sentiment in europe