Bro my view is this. . . We trade well under the upside continuation target. . . We have pounced on that 130/129.72 support couple times in the last 24 hours. A break below it and we see 125/118 the very least. . . For an upside continuation back to ...

What the hell? Ban short selling? How can they do that?

Okay I see that. . . The only thing that concerns me about you 138.50 level is the weekly bearishness that has already been activated. Now I can see a ABC correction happening with 50%/62% retrace from the swing hi/lo based on the wave structure ...

looking at the glass half empty - I share your view as it seems 1hr and 4hr are calling for a pressured move lower. . . Only lower TF's like 15min and 30 min looks to be calling for this slight move higher. . . the top of the triangle created is at ...

After lunch we should see some movement. . . They typically inch it it up slowly into the close. . .

Here is an observation one must consider IMO. . . Looking at the swing hi/lo from the last wave 140.55 - 131.07 if yu plot a 200 SMA on the chart price has not traded above it on the 1hr chart since May 5th 2010 and has respected it every since. . . ...

So where does that leave sterling bro and USD? PA looks slow on the down move but anything is possible meaning momentum could easily pick-up but so far PA has been respecting the dpp and a close above it I think we swing up to at least the daily ...

Nice observation I'm noticing that PA is reluctant to go below the dpp at this point and the daily swing - swings up to at least 135.18 for now @ R1 which will be the 1st test of rsistance if we don't get a push down before London packs it in. . . ...

It's the standard fib retracement. . . You can go in a put in the ext. but it's contained in this template so should be good to go. . .

Just a thought - SL just below dpp @ 133.18. . . seems last nights low would be a good target for SL 133.00 area. . . Looking at PA it's slow and at the moment doesn't look nowhere near bearish at this level IMO more like consolidation or ...

If London can't put in a new low below 133.03/06 then we will see NY drive price back up above 134 after lunch. . . Price currently trading above dpp @ 133.13 and the swing above is ar'd 135.18. . . Good luck on your trading. . .

Here is the set-up with the same chart as yesterday. . . Notice we didn't trade below 133.03/06 as stated and we pretty much just ranged between 133.60 - 134.30 with spike above and below. . . The set-up will be confirmed if we get a daily close ...

125 is the target. . . but not before 135.51/136.30. . .

May range between 133.60 - 134.30 before we break. . . but if we close above 134.29 then not a good look for anyone short in this area. . . and 132.50 is a good target on a close below 134.29. . .

Scrat - thank you for the analysis. . . will be watching as I'm currently long off the daily S2 in NY session so looking to add either way for the daily swing trade. . .

What happened to falling to 130 4hours ago?

125 represents 85% retrace of the entire move from 163/118 and is very important support. . . A weekly close bleow that would put us in a new range 125-119 with a new low being on the table or a dbl bottom at 119. Step-by-step. . .

Zup V?

Scrat are you looking to flip and short there? If so what's your SL target?