Hot-Charts
View Latest Hot-Charts | Hot-Chart Archives

How Low Cable

by Ashraf Laidi
Mar 9, 2009 12:34 | 5 Comments

How Low Cable - Cable Mar 9 (Chart 1)

Cable's sell off ensues on the negative news flow from UK banks (latest round of govt nationalization dubbed as insurance and flurry of realized/unrealized banking losses). GBPUSD shrugs the improvement in risk-seeking trades in FX (seen in yen selling) and extends losses towards a 5-week low of $1.3860, which coincides with the 76% retracement of the $1.35-$1.4997 move. A break below this level is to make way for fresh downfall into the $1.3650. $1.3990 and $1.3960 will emerge as key resistance levels in the days ahead.

 

More Hot-Charts

  • Bitcoin versus Miners Performance Chart

    Bitcoin versus Miners Performance

    Apr 9, 2024 16:02 | by Ashraf Laidi
    As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
  • Gold, Bitcoin, USD Combo Chart

    Gold, Bitcoin, USD Combo

    Jun 22, 2023 16:46 | by Ashraf Laidi
    I mentioned last week  on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail.
  • تفسير مراحل الذهب Chart

    تفسير مراحل الذهب

    Mar 17, 2023 21:28 | by Ashraf Laidi
    .
Hot-Chart Archives
Comments (Showing latest 5 of 5) View All Comments
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Mar 10, 2009 9:03
Adelish, I do not think it is a good idea to buy cable at 1.3650 because it may indicate a break towards 1.35 and more. if you want to buy GBP, do it against CAD.

Ashraf
adelish
irbid, Jordan
Posts: 6
15 years ago
Mar 9, 2009 20:47
thanks tones ashraf for your valuable info ....im intersted to know is it a good buy (136.50-136.00)or the cable has a leg down to 135 or more ...i appreciate your help
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Mar 9, 2009 19:59
Hamish, yes, im always cautious from the interim pullbacks in USDCAD. But better to be safe than sorry as far as your stocks are concerned.

Ashraf
hamish
vancouver, Canada
Posts: 26
15 years ago
Mar 9, 2009 19:07
I was surprised to read CAD possible support 125.5 quite the spread to 1.33 resistance.
I can only assume you are anticipating a substantial bear market rally in the near term.
mabedi
mashhad, Iran
Posts: 29
15 years ago
Mar 9, 2009 15:34
Hello Ashraf
Well done Ashraf
I think 1.3671 is the Tp , the retracement 88.6
Thank You
Report Reply