Cable Update (GBPUSD)

Hi Scott
I'm going to need to see the monthly to think bearish to low at this point since Jan open
but weekly shows bear control would need good confirm

maybe side or slow this week but it's over immediate tl

Chart analyse:If looking on daily chart we see a lot of colored candles, so it`s obvious that downward movement is prevail and even with the blind entry we can be sure to profit from it in days or weeks.

Price anayse, accordance with the daily chart view the next level for price siege surely will be suport level at 1.36590. Upside movement capped by steady ressistance at 1.39986 - 1.40664. The break of 1.36590 will give more room to move 1.35025 i perspective.

News analyse, any worst than forecasted data of Cable can improve price falls and in opposite case bulls will hang cable.

Trading way for this week, any price recover should be considered as the entrance to sell cable.

THIS IS NOT ADVICE TO SELL BUT JUST MY VISION.

Ok London what are you going to do today not withstanding the CPI in the next couple of hours.

Currently every action is being met with an equal and opposite reaction.

news saying inflation is just below 3, so it might be bearish..my guess

Is it confirm they are saying less than 3?

In the morning news BBC hinting its just under 3 but you never know these people..

Let's wait for the data release later, i'm long on GU, targeting 1.3941

mee too long moving stop loss 1.384

please GU, clear my longs up to 1.3950..

LMAX view on GU today

Although you should not be trading based on hope, it's likely that you'ii get some pips northward. But technically the 1.3950 level appears to be too optimistic as a target. Bulls have to contend with some resistance around the 1.3910/1.3940 zone.

Trade safe and prosper

KP

gosh, she is very mean

Take the northward profit you can get when you see a southward retracement on a lower time frame than your set-up time frame. Then step aside for price action to give you a better setup on a higher time frame before you reenter the market provided you have a potential for a good R:R at a reasonable target zone.

KP

Just to cheer you up a tad the daily has a target of 4287 but don't hold your breath for that. Your 3950 should be an easy do.

Look at the surge up on gu ...Looks like big boys are coming In slowly... No retracements

I really don't see the point of enduring 3 days or more of anguish with a 200 pip draw down just to hang on for B/E