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Cable Update (GBPUSD)

  • #460,701
  • May 24, 2018 2:39am May 24, 2018 2:39am
Damn.. too cute-- pre Frankfurt open trade in range.

+20
Attached Image (click to enlarge)
Click to Enlarge Name: cable m1.png Size: 31 KB
Risiko birgt immer auch die Chance.
  • #460,702
  • May 24, 2018 2:57am May 24, 2018 2:57am
Still looks quite bearish to me
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDDaily1.png Size: 28 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 28 KB
Come with me if you want to live....
  • #460,703
  • May 24, 2018 3:06am May 24, 2018 3:06am
Quoting Ill-b-back
Still looks quite bearish to me {image} {image}
I agree. My bias is certainly bearish, but I haven't had a clear enough line of sight to take a trade on this pair for a while now.

Whilst direction seems 'obvious' (read: dangerous!), I think EU and UJ (in particular) are easier trades at the moment.

I'd prefer to see some clearer market structure in this pair before getting involved, at least on the TFs that I trade (H1 and up).
  • #460,704
  • May 24, 2018 3:11am May 24, 2018 3:11am
Quoting Luzbay
{quote} I agree. My bias is certainly bearish, but I haven't had a clear enough line of sight to take a trade on this pair for a while now. Whilst direction seems 'obvious' (read: dangerous!), I think EU and UJ (in particular) are easier trades at the moment. I'd prefer to see some clearer market structure in this pair before getting involved, at least on the TFs that I trade (H1 and up).
Yep, I'm waiting to see for a lower price around 1.3090 area, for signals to buy.
Will be an interesting week next week to see if we get there.
Pound still suffering from data and brexit deal rejection.
Come with me if you want to live....
  • #460,705
  • May 24, 2018 3:16am May 24, 2018 3:16am
Quoting Ill-b-back
Still looks quite bearish to me {image} {image}
if you allow me i want to share my view
follow only smart money /big boy's foot step order block .look left
Attached Image (click to enlarge)
Click to Enlarge Name: follow only smart money order block.png Size: 81 KB
Say something meaningful or Silence!!
  • #460,706
  • May 24, 2018 3:36am May 24, 2018 3:36am
Quoting classy
{quote} if you allow me i want to share my view follow only smart money /big boy's foot step order block .look left {image}
That's a view for sure.
The pattern breakout below the 38.2 fib area along with the previous daily consolidation above it (with spikey tops) gives me a bearish (continuation) impression though.
Come with me if you want to live....
  • #460,707
  • May 24, 2018 3:53am May 24, 2018 3:53am
Quoting sponge
Plenty news out all week for GBP, currently bearish below 1.3411 cycle imo but this could signal a good long if news permits. Daily double top targ looming 1.3040ish Time projection 24th/26th +-3 so any time now {image}
1.3411 still a good long trigger imo, we have supporting volume for now but could take a while to convince the bears, still negitive below 1.3390
All charts/ideas based on UK time zone
  • #460,708
  • May 24, 2018 3:54am May 24, 2018 3:54am
No bombs from Carney in that little speech and super number for retail sales good for GBP. Dovish FOMC.

Locked in multiple positions near the current bottom at B/E.

Key question is this a short term bounce trapping new bulls or is it a start of a bigger retrace to 1.37 / 1.39 ? lets see.

As mentioned let see what happens with the market structure. First lets see if 1.3380 area can become a support?
  • #460,709
  • May 24, 2018 4:20am May 24, 2018 4:20am
not impressed with the retail sale figure looking at the broader picture,still bearish on the GBPUSD and think that the pair will feather go down to about the 1.3298 area
  • #460,710
  • May 24, 2018 4:42am May 24, 2018 4:42am
The GBPUSD market is at a support zone atm but there's little momentum for a northward push. Any northward pullback is, imho, an opportunity for a sell trade at the the right zone/level.

KP
Do your homework, follow the footprints of smart money
  • #460,711
  • May 24, 2018 4:51am May 24, 2018 4:51am
for me its still a sell zone....no interest in buying..
  • #460,712
  • May 24, 2018 5:42am May 24, 2018 5:42am
Quoting KeenPips
The GBPUSD market is at a support zone atm but there's little momentum for a northward push. Any northward pullback is, imho, an opportunity for a sell trade at the the right zone/level. KP
You are right momentum has slowed so keeping close eye on it.
  • #460,713
  • May 24, 2018 7:46am May 24, 2018 7:46am
GU,GA,GJ, EA,EN,GN in buy mode since London open.

One must have picked some 50,60 pips if took an entry.
Intraday only.
  • #460,714
  • May 24, 2018 8:02am May 24, 2018 8:02am
some charts for reference and education.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYM5.png Size: 81 KB
Click to Enlarge Name: GBPNZDM5.png Size: 74 KB
Click to Enlarge Name: GBPUSDM5.png Size: 74 KB
Click to Enlarge Name: GBPAUDM5.png Size: 77 KB
Intraday only.
  • #460,715
  • May 24, 2018 9:53am May 24, 2018 9:53am
Added a long to the position at 1.3370 see if this area can hold. Feel like make or break time.
  • #460,716
  • May 24, 2018 10:55am May 24, 2018 10:55am
Blimey,
1.5 hour labour, JUST made it to hospital.

Caught our 3rd baby in my hands
All doing well
Come with me if you want to live....
  • #460,717
  • May 24, 2018 1:02pm May 24, 2018 1:02pm
Quoting Ill-b-back
Blimey, 1.5 hour labour, JUST made it to hospital. Caught our 3rd baby in my hands All doing well
Congrats
All charts/ideas based on UK time zone
  • #460,718
  • May 24, 2018 1:12pm May 24, 2018 1:12pm
Good news to your family. Congrats mate!

KP

Quoting Ill-b-back
Blimey, 1.5 hour labour, JUST made it to hospital. Caught our 3rd baby in my hands All doing well
Do your homework, follow the footprints of smart money
  • #460,719
  • May 24, 2018 4:21pm May 24, 2018 4:21pm
Thx guys. All very hectic.
Daily close is tricky.
Weekly close important.
Come with me if you want to live....
  • #460,720
  • May 24, 2018 5:38pm May 24, 2018 5:38pm
Closed below 3380.
Looking bearish to me still
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 25 KB
Come with me if you want to live....
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