Cable Update (GBPUSD)

Time : London (Winter)

Good day all !
No position at the moment .

Hope in better h1 chart later in the day .

Be patient and trade safe

S.

P.S. I am only 50% right !

@Aleksbuk thanks for your morning effort to post your chart !

I dont agree with you all the times, but makes me better analyze and decide my trading !

Thanks again
S.

My finger wants to trigger a sell !

But ..... never go against the trend ! I am 50% right !

Any idea ? In any case I will wait for better chance.

S.

important support near 3288, a break of that, and I'll be looking to sell a rally...

Good idea man !

I should listen to you .... but I am not so brave !

Respect for your 29,000+ posts !

S.

GBPUSD
========
Intraday
-------------
-Hourly chart shows potential Head & Shoulders formation.
-P/O divergence.
-Once Neckline is broken , the ideal minimum target is 1.3225.





https://twitter.com/ADFINANCIALCORP/...32546212548608

cable is tricky today. H1 mini-HS, H4 looks ugly, but it's cable, can make a fast recovery. Trying shorts below 3295. DXY is very strong after big reversal on H4 yesterday.

if 3295 cracks it will dump big time. target is 3225 (+70).

It'll be good to see if this week's weekly candle closes a proper red. If it does, next week would be

Price is moving down to support line and now nearest point is 1.32768. And I think that price will go lower at 1.32541. And if bull seizes the initiative from the bear, the price will go up to the point of 1.33794.

Short 1.3307, aiming for 1.3270

3235 is the target for the bears now.

Closed at 1.3275, might enter short later if a new setup appears

Lets talk about Brexit again..

In the UK, another political process. Last Friday EU Pres Tusk said the UK had to step on the gas to
prove sufficient progress to move on to the next stage of talks, with Dec 4 a deadline for the Irish border
issue. The Irish border issue is nowhere close to being resolved. In Ireland itself, a vote of no-confidence
in the leading political party over a police scandal could come tomorrow or may be averted.
This is upsetting to the EU.
The FT reports that an election during the next critical three weeks is more than a distraction.
May has rejected [Irish PM] “Varadkar’s demands for written commitments before trade
talks begin to avoid checks on the Irish border, even if it that means Northern Ireland continues to apply
EU trade rules while Britain diverges.
This has prompted Mr Varadkar, who has the support of Brussels,
to threaten to veto the start of trade talks at the summit in mid-December.” Meanwhile, UK Trade Secretary
Fox repeated yesterday that the border issue can’t be settled until a trade deal is clinched, exactly
the opposite of what the EU wants.

You can go mad tracking British-Irish relations.

'' The researches of many commentators have already thrown much darkness on this subject,
and it is probable that if they continue we shall soon know nothing at all." Mark Twain.

I am on a sideline ! Boring ..... but safe !
But .... you keep on trading if iit s clear where to go . I am not sure at the moment !

S.

Bexit is Getting Worse for the UK...
as i said before you can go MAD following Brexit..


In the UK, all seven major banks passed the BoE stress test. The BoE judges the banks capable of with-
standing even a hard exit, but raised the capital buffer from 0.5% to 1% and plans another rise next year.
One scary nugget is the BoE warning that hundreds of thousands of derivative contracts need to be re-
written to conform to UK instead of EU law. Yikes.
In Ireland, the government is in turmoil over whether to hold a vote of no confidence, which will come
at 10 pm local, 5 pm New York, if it comes at all. Reuters reports “The country’s opposition party prop-
ping up the minority government has said the deputy prime minister’s refusal to quit over handling of
problems in the police force would force the country to the polls next month.
A motion of no confidence in the minister in question, Frances Fitzgerald, is due at 2000 GMT on Tues-
day unless she quits. But Irish national broadcaster RTE cited a minister as saying Fitzgerald had decid-
ed to step down.” SocGen, which knows a hawk from a handsaw,
says ““The EU has given the UK government a deadline of next Monday to come up with a plan on the Irish border,
so that seems to be the main sticking point now.” And Reuters goes on, “Whatever happens with Fitzgerald,
if the deadlock between London, Dublin and Brussels over the already complex and politically sensitive border issue does
keep Brexit negotiations stalled, that could spell trouble for the pound.” Sterling may easily re-test the
August low at 1.3000.
We say that’s not enough. FX always overshoots.

Pound is Going down Nicely we may see retracement very soon after that i am looking forward to 1.3080 maybe next week. or at least before Dec 7
as mentioned in my Report.
i hope it will help..
to be honest GBPAUD looks better then GBPUSD well it dropped more then i thought already but still i will wait for the retracement, in both GBPAUD and GBPCAD.
and will sell...
Wish you all Green Pips.
Regards,
Muhammad.

target got hit faster than expected. not sure that I want to be a buyer in this market (yet).