Cable Update (GBPUSD)

enjoy

totally agree...

Thanks mate. I really don't trade patterns. I am interested in what price action does within and outside patterns though. I trade (mainly swing trade) price action around pivots/reaction zones using multi time frame/top-down analysis.

Trade safe and prosper.

KP

1.3990 weekly pivot

http://www.forexlive.com/news/!/fick...pound-20180223

Hello fellow traders,

Expecting zigzag up on h4.

Thanks

My view as long 1.3958 supported likely more upward potential

One bird at hand is worth Two in the bush.... what follows after that down swing and up swing is something difficult to trade.

Turning down to test when 1.3990 pivot is resistance

GBP/USD 1h - Possible zig-zag move on the pair, on daily/4h/hourly charts. The smaller triangle looks to come close to that 85-90% and price could make final react to that upper trendline (also trendline of big triangle) and we seem to be on the halfway already. All above 1.4 could be possible scalp long entry imo, but respectively to the pattern as long as next pivot forms we should see that drop-down (now or later). Pair sentiment is currently mixed leaving us to watch technical 'decision' areas and next moves. 1.39 and 1.385 are nearest crucial support levels while blue line (look chart) and upper trendline should be crucial resistance zones. We saw earlier this week bearish fundamentals for GBP (Q4 growth fell to 0.4% from a prior reading and expectations of 0.5%, while annual growth also slipped to 1.4% from 1.5%. UK GDP for 2017 was also downgraded by 0.1% to 1.7%.) while dollar appreciated on FOMC minutes. From that 1.43 pivot to retracement we got this consolidation area in still bullish uptrend on daily. On shorter term as long as the smaller triangle doesn't get broken and we stay in range (possible OB zone if looking from 02-05-18) won't consider any long entries (while straight upper trendline denial will trigger my short scalp-exit on mentioned supports). Longer picture also could respect daily lower trendline and pull back towards it creating another buy opportunities. We are left to see more next week, safe trading everyone!

The GBPUSD has found a good support around the 1.3900 level and a good resistance around the 1.4100 level. The GBPUSD is really in a congestion area between the 1.3782 level and the 1.4300 level.

Similar KP.
I'm watching for a spike up to 4055 area then signs of rejection with 3745-50 area as a target early next month.

Tested twice and closed at region... conveniently

Yesterday was awesome. I Had no idea it was coming. Still have no idea why it happened.
I Feel so stupid....

Just need to have stops in place

is there any WhatsApp group for this thread ?

Triangle being formed on four hour chart, a break of this should break the 78.6 weekly fib level, this should have targets of around 1.37000

Well I don't know what happened to FF on Friday but here we are at the start of another week.

I am still expecting the price action to reach 4031 but it is having some trouble testing 3994 zone which is of course the previous average level.

We have seen it fail this test several times and turn to test the 3914 average and fail that also so we are caught between the two 3994 ~ 3914. However price is continuing to trade above the average so no reason to suspect a short just yet plus we have a bullish divergence to consider. Price is actually sitting in a tighter range between both bear and bull supports which are proving to be resistance levels.

My point of view. Please forgive me if I wrong...