Cable Update (GBPUSD)

it Seems G/U broke through resistance
IMO,Safe to go Long now


https://www.forexfactory.com/attachm...1&d=1523592057

i think 1.43199, based on my pov

I personally think that until we pass 1.43454 we will still see some resistance and a possible down turn.

my team calculated correctly ,
bones FX is a world-class group who don't do number generating calls
or no detail shouts
at the beginning of the week and leave it at that because we care

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Yeah, I love Harmonics. But using Harmonic analysis I have a target around 1.4319

I think no more than 4380 today right ?

Another little discount up for grabs

hi msap ,numbers come off h4

I had 3 options for the GU

Dont look at the direction I’ve drawn that was one of the options, what I want you to focus on is importance on resistance breaking

Major resistance breaks on a strong breakout, the best way to trade this to the long side is to wait for a breakout then wait for price to come back to restest that break out level and then go long once pilrice confirms resistance is now holding at support.

There was a post before that said it’s safe to go long now because price punched through resistance but now look it couldn’t close above it and the daily shows that. I’ve seen this and been caught out with it time and time again.

It's fancy number 45555 this month it will stay there , today is weekend that is the market decision , more up within next two or three weeks

You got it buddy
This would also create a bull flag to gain some strength to propel price up

gbpchf short @1.3729

gbp still looking strong at the moment

I had a short and got taken out, I'll turn bearish below 1.4220.

Between a rock and a hard place it seems

ugly inverted hammer candle on daily at level were no fundementals could support the main trend

The GBP is traded at the highs of January and no longer reacts to the Brexit

On Friday, the pound jumped to its highest since late January levels against the dollar, peaking at around $ 1.43. Quotations touched the level of $ 1.4295, from which they retreated slightly and traded with an increase of 0.41%, in the $ 1.4267 area.

Analysts at Commerzbank are puzzled by the behavior of traders who stubbornly ignore the risks associated with the Brexit and buy the pound.
"I am very impressed by the indifference of the currency markets to the political bravado of Washington, but I just do not understand why the pound ignores the risks associated with Brexit ... The growth of the currency was observed yesterday, although the news from this front clearly did not contribute to purchases. At least the Brexit Affairs Minister David Davis has been stiff and threatened by the fact that the parliament may not approve an exit agreement if it is not friendly enough for the British side. Perhaps the foreign exchange market has resigned itself to the fact that the British government has no other choice, and it remains only to scatter its warnings, which only hinder the peaceful achievement of agreements with the European Union, "write the experts of Commerzbank

In the meantime, ING recognizes that Brexit is already an obsolete topic for currency traders who have again switched their attention to British statistics and are wondering how the incoming figures could affect the probability of a widely anticipated rate hike by the Bank of England next month.

"We also note that the current year is very different from the previous year in the context of the trading conditions for the pound, with a glance at Brexit. The days when news headlines on this topic could rock the market, are in the past. And now the signals from this front are not perceived as fundamental factors, "analysts of the bank believe.

And now, when the parties concluded a survey on the transition period last month, investors have additional time to assess the situation with the "divorce case". And since the next stage of negotiations on trade relations between the EU and Britain promises to be protracted and complex, it seems that traders in the good old tradition will determine the short-term vector of the currency movement, relying on economic statistics.

The upcoming week will be saturated with UK releases, starting with data on wages and employment on Tuesday and ending with inflation on Wednesday, as well as retail sales on Thursday. In addition to statistics, you need to take into account the seasonal effect, as in April sterling, as a rule, shows excellent results.

Exactly , I didn't notice this !

And what about this one!