Cable Update (GBPUSD)

heads up

cancel my buy limit order earlier.. not good enough for the breakout imho.. stay neutral for the moment.

can't help seeing potential price reversing/doji at about the resistance on fiber in daily and can't get bear out of my head.. so, not trading cable atm..

GBPUSD:
BUY
If the price breaks through the level 1.53950 bullish movement will start. Targets of the bullish movement: 1.54286, 1.54955.
SELL
If the price breaks through the level 1.53007 bearish movement will start. Targets of the bearish movement: 1.52427, 1.51848.

lol eyeball the weekly

lol. perhaps i have to wait this week candle to close to make a decision, price very close to major resistance thus i can't trigger the buy button..

lol yea I know what you mean ,it is a tricky area but real res and now support in my eyes is 1.5331
personally I think you can read weekly now ,but really dont want to argue on that
with anyone
im thinking about gbp aud

gbpaud, from the weekly seems like there's huge potential for the pair to move up.. imho.

yea thats what I think ,maybe wait for daily harsh pullback if its that ,

yea, maybe that's the safer way to go..

This 50 back that took us through the late March gap looks to be holding trails worth holding:

we have a nice butterly here , if it go back inside the green channel , I will try to sell

ill have a go

Powerfull

I think fiber,swissy and ucad might change direction.. As for cable, still sideline..

Well i agree.

Homing pigeon+butterfly+confirmation, pullback retest gap already closed by bulls(red bull).,great trade for long.

testing some pips down

I think the Bull remain strong as i look through W1 graph.

Anybody see bearish divergence in the 4 hour? Another interesting note is this push in pound has coincided with a break down in EUR/GBP just yet. A pullback seems possible or even a possible reversal if a 4 hour close above the highs isn't established

Expecting 38.2 to hold some resistance on the daily chart.]


1.5410 was the drop off point which started the further sell off to 1.4830.

Short @ 1.5405-13, Stop loss 1.5455. Risk 50 pips for Take profit level 1: 1.5361, Level 2: 1.5300, Level 3: 1.5260 – Intra-day Semi Swing.

Swing -> Take Profit Level 1: 1.5300, Level 2: 1.5250, Level 3: 1.5200.

Key level : 1.5361*, a break under 1.5361 is important for the retracement downwards. Maintain a close above 1.5361 remains relatively healthy for the bull set up.

Conservative -> Once 1.5361 is overlapped by bear Price action, set position to Break even.

On the bigger time frame, we might expect a pull back @ 38.2 to 23.6.

However, due to the effect of April being a bullish month and fundamental of QE from both US and JP, the risk pairs like GBP and EUR are getting easy lifting from their cross pair brothers the GBPJPY and EURJPY.

This is a counter-trend set up, as i expect resistance @ 38.2 to provide some hindrance to this rally, with a 50 pips max risk.

Should 1.5410* cannot hold, next area is 1.5431, then 1.5451 as the final stop. I might close off the short before it reaches 1.5451 for smaller losses, as the resistance might not hold at all.

Both GBPUSD and EURUSD are fighting the resistance @ 38.2 area and expecting a pull back for both or an advancement to 61.8 as the next target.

My blog post

She may just get there today,

All the way May...

No retrace, no retrace lol...