Author Archive for PeterB




Jul 19th 2007

With UK retail sales figures coming out today and expected to decline we could see the cable coming off it’s highs of late. I won’t open a position till the direction is clear again.

Happy trading

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Jul 16th 2007

The cable is holding up well in record territory, not giving up any ground. The bullish trend is still in favor and it looks like the 2.0600 area is now the next target. for today my trades are:-

open: 2.0360

target: 2.0450

Stop: 2.0320

Happy trading

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Jul 12th 2007

Cable is consolidating in a decending triangle formation (signalling a continuation) after yesterdays little move up. It looks as tho the cable is not finished yet even at these levels. It has been contained at the 2.0330-40 cluster resistance and if it breaks through as expected then the next target is around the 2.0600 area.

My strategy for today is:-

Jul 11th 2007

The pound is at it’s highest level since 1981, it looks set to continue higher but with a possible resistance comming up at 2.0330, I’m reluctant to take a position at these levels,

Today it might consolidate a little. My strategy, stay sidelined and wait for clear direction.

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Jul 10th 2007

The cable is retracing a little as I write this, it is still bullish in spite of the retrace, it could go to 2.0100 today before continuing up, I will wait for more information.

A possible entry is at or near the 2.0100 - 2-0130 (long)

target 2.0200 (plus 70 - 100 pips)

stop 2.0080

Jul 5th 2007

The cable is in a consolidation after the last bullish movement. It is in a range between 2,0150 and 2,0190. The volatility is low. 
The price should find  support above 2,0130. The uptrend should continue to gather momentum. Today the BoE releases it decision on interest so expect some excitement.
Adjust yesterdays stop to 1.0120

Jul 4th 2007

Cable is in a consolidation after the last bullish movement. The price is just bellow 2,0190 resistance. The volatility is low. Uptrend should continue to gather momentum. My position is still the same as yesterday, buy on the dips while it’s consolidating.

I will open a long position again at around 2,0170.

Jul 3rd 2007

Hi all,

My name is PeterB and I’ve been trading the cable for quite some time now and thoughts it might be a good idea to post some of my thaughts for the pound. So I’ll popin here daily and post my trades for the day. I’ll be posting at around 7am my time thats, GMT -2 at this stage.




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