Cable Update (GBPUSD)

Even thought I follow this thread, (I trade GBP/USD) I don't post here often.
It is obvious to me that the previous resistance line of 1.3180 has now become a support line.
What are the chances of going lower today? Any ideas or suggestions?
By the way I hold trades on both sides.
Cheers

I am short from 3220 and targeting 3140, its Fri, so might be a bit crappy PA but my stops are moved now to profit so lets see

Good day traders, I did some extra credit work over the weekend, and thought I would share. some food for thought, good luck.

Why don't you post here more often? When you share your trading ideas and analyses with fellow traders, I believe many will genuinely appreciate your effort and give you positive feedback. It will then be your place to neglect or discountenance the negativity of others.

Trade safe and prosper.

KP

I agree with junkees analysis, but believe its only a part of a larger up trend. Per Elliot wave theory, it would be reasonable to conclude we're in the 4th trend. The fifth will happen and make a reversal with long momentum. I'd use stochastic and rsi, which in my 30 minute charts have consistently predicted trend changes. My stoch at 20 3 3 has predicted reversals accurately, and is predicting a downtrend. Wait for the bottom and buy long.

-Bearish structure
-Sideways before downside break
-1.2770-1.2700 ideal target






https://twitter.com/ADFINANCIALCORP/...00253103710210

-Bearish structure -Sideways before downside break -1.2770-1.2700 ideal target

Hi Beyfor. Completely agree. The pair is in the roof of a weekly channel and 1.3280 resistance zone. So if it offers weakness signals it could be a good opportunity to trade in South direction. This is my view.

Good trading.

Gbp/Usd continue ranging between 1.302 and 1.325 with limited upward strength. The market continue to focus on Brexit.

just hit top tl so watch it

day chart possible higher tl to 3310 area so 2 possibility trades

Time : London (Winter)

Time : London (Winter)

UK oo UK
Hope keeps springing up that Brexit talks will start going May’s way. The trigger event could
be May upping the payment from about €20 billion to closer to the EU demand of €60. CoE Hammond
agreed with the statement that “time is running out” with the talks starting in three weeks. The Dutch
want a hard number and now. The problems is that Brexiteers promised an end to paying the EU and
will go nuts if they hear €40-60 billion over two years. And yet on talk TV over the weekend, an Econo-
mist editor pointed out that 52% of voters chose Brexit and would do so again if the referendum were
held today.
All the backroom political wrangling, with as many as 40 Tory MPs willing to do a vote of no confidence,
does not change that. And the politicians know it. Today the EU ministers start preparing for the
mid-Dec summit with May. So far EC Pres Tusk is taking the stance that the UK must deliver much
more, especially on the Irish border issue, to satisfy him and allow his recommendation to the next stage.
It could be Ireland and not money that screws it up for the UK in the end. Irony abounds.
In the eurozone, last week various speakers defended the QE program as contributing to recovery and
still needed for some months to come. Board member Mersch made an ambiguous remark: "I do not expect
that the market would be right to anticipate a further increase of asset purchases at the end of our
program [in September]. ...
i said that the improved situation is not warranting the same amount of
purchases. But it would nevertheless also be a certain element of presence in the market that would still
be warranted, and that's why we also extended the horizon of our purchases." The ECB will revise the
forecasts in December, including the inflation forecast, which should be better. Somehow these comments are being
twisted around to imply that September is a “hard” end-date. No, that’s not what he said.
.
Just my 2 Cents..
Green Pips to All..

GU is on the verge of breaking the resistance today and flying all the way to 1.3290 initially and 1.3340 ultimately.

I expect the first target to be touched today and second either today or tomorrow.

Time : London (Winter)

what the fuck is this pair doing again

To use a Boardwalk Empire quote, it is up and down like knickers in a cathouse. Some hope ahead for direction after the budget release and the realisation that rates can be raised because of GBP weakness.

https://www.fxstreet.com/news/boe-we...a-201711221331