A drop in the GBP/USD to 1.6600???

[SeanB]

Hey guys, great to have such a cool discussion about the drop! I really enjoyed reading this thanks guys. Yeah, all I hope is that I get in on the right flight when the time comes for that move down in the GBP/USD. Thanks GJ, Cesar, Trendz.
1.6600 bring it on!

All the best with the trading guys

[ampris2000]

my ta analysis says it is possible.
on the weekly chart prices are in a trend down but at the same time it's right at the 200 ma right now.

on the monthly chart, prices are moving in a downward direction. the 200 ma is around 1.65-1.66. so we'll just have to see.

I hope so, cuz that will mean more pips which means more money which means the sooner i can quit this job!

Then I can post at moneytec forums all day. (yeah right!)

[Gamma_Jammer]

One thing to bear in mind is USD/CHF. 1.3225 got rejected today, with leveraged types (hedge funds / cta's etc) very much the driver of this action. That is one of the last major levels not to break, and if it holds (and it looks for now like it could well do), then you could see a corresponding pullback by the greenback across the board. Of course, if it finally breaks you could see the trend pick up steam again.

But either way I'd keep one eye on that level.

GJ

[Trendz]

Cable too has held up well. Key Support comes in @ 1.7280. Sterling looks like it should come under pressure on the crosses as well. I would prefer to sell sterling rather than the franc at this point but perhaps dollar bulls will attack both key levels simultaneously. Lets hope so!

Edit : New yearly lows as i type this

[psytrader]

What is a "yard" of euro?

[Trendz]

Originally Posted by psytrader

What is a "yard" of euro?

A Yard = one billion currency units.

Great move in cable today folks!! Hope u have those shorts working. 1.70 is on the cards, hopefully more..

[cjaforex]

I apologize if I am not contributing to the threat but this is by far one the most interesting analytical threaths I have seen this week. thanks guys, thanks Gamma Jammer, great stuff as always

[SeanB]

I can't believe the move that happened earlier, actually I can but it's the situation I'm in LOL my connections to slow right now to trade, I just moved back to South Africa and my broadband is still getting installed so I missed last weeks move.

Well done to those that got in on it

Thanks cjaforex, glad the thread has interested you.