A Blog of Commentary and Ideas from an FXstreet Premium Member by 
Hi All !
Well…we were on the mark with our thoughts on Cable yesterday…and the Quarterly Inflationary Report confirmed our views even more.
Perhaps it’s time to find another way to communicate with each other…as our Trans-Atlantic Cable is slowly being consumed by the Abyss.
Her Majesty is swimming to shore as we speak!
The GBP/USD continued its’ inherent weakness, and continued selling off in favor of looking for a new job in DollarLand and the YenZone!
Again…and I cannot emphasize this point enough…DollarLand (U.S.) and YenZone (Japan) are not exactly looking like the poster children for stable economies…so what gives?
My two new favorite words of the largely the past year: Risk Aversion!
The world flight into the low-yielders of the Dollar and the Yen continues to grind along, and I’m right there grinding along with them.
For our Lady-in-Waiting, Her Majesty…the next major level of Support is at 1.40 looking out long-term.
But do we really need to look out into the Abyss very far?
With an Average Daily Range of 383 pips on this particular Platform… 900 pips is not too far off.
(click once for captures)
In looking at both sides of our “Fence” here, let’s see what we can come up with.
We have some clearly delineated “Zones” on our Hourly chart if your view is Bullish.
We have a POTENTIAL Retracement Zone to work in here…
If you are Bearish…then you would look to the Fibonacci levels to keep your patience, and wait for probable opportunities to Sell into Strength.
So let’s see where our Cable ocean swim takes us tomorrow!
Do not worry…the Queen is swimming along just fine…. 
P.S. - Do not forget, everyone, that I attempt to post here on the Blog so it reaches all of you around 1 or 2GMT.
This is around 6 p.m. my time in the U.S. southwest, 1-2 a.m. for our U.K. and EuroZone friends…and 10-11 a.m. for our friends in Asia and the Pacific Rim.
Please keep this in mind as you read each Post with my “open-ended” analysis…as I try to reach all levels of Traders and all styles of Trading.
Let me know your thoughts here, and keep the commentary and questions coming!
Hi CVJ, Nice charts on your blog. Most do look weak going forward. Friday G20 meetings wonder if there will be some short covering? We’ll see what happens tonigt and tomorrow. Very short term rally would be nice then go short again on Eur and GBP.
Hi Joan, and thanks again for your comments and participation!
Yes..short covering is surely possible today, as we will see possible profit taking for the week after massive shorts.
So in turn…this will strengthen the Dollar and the Yen temporarily going into the weekend.
Yes, indeed…the G20 will certainly throw us a curve ball going forward.
We are so accustomed to these large economic Meetings being rather muted, and in most cases, not even discussing Currencies and Foreign Exchange between the economies.
This time is sure to be different.
They have no choice but to focus on all aspects of the global economy.
Sincerely,
- Tim -