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Cable Update (GBPUSD)

  • #460,901
  • Jun 7, 2018 7:28pm Jun 7, 2018 7:28pm
Quoting navk
{quote} And see this smaller TF pic. This is why I said more bearishness is expected on Friday. {image}
Ok thx for the chart navk.
Although to be honest, I have trouble interpreting it.
I see significant fib/pa support around 3393 from memory. If we close this day/week below there, then bullish view maybe changed.
Thx again.
Come with me if you want to live....
  • #460,902
  • Jun 8, 2018 12:58am Jun 8, 2018 12:58am
Attached Image (click to enlarge)
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to err is human
  • #460,903
  • Jun 8, 2018 3:03am Jun 8, 2018 3:03am
Cable bulls on the move
Come with me if you want to live....
  • #460,904
  • Jun 8, 2018 3:24am Jun 8, 2018 3:24am
Quoting masudsardar
{image}
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 65 KB
to err is human
  • #460,905
  • Jun 8, 2018 7:29am Jun 8, 2018 7:29am
Quoting masudsardar
{quote} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 68 KB
to err is human
  • #460,906
  • Jun 8, 2018 7:36am Jun 8, 2018 7:36am
Gbp/usd 4h
Look like the pair want last peak
Attached Image (click to enlarge)
Click to Enlarge Name: New Doc 2018-06-08 (6)_1.jpg Size: 146 KB
yes yes yes
  • #460,907
  • Jun 8, 2018 7:45am Jun 8, 2018 7:45am
Quoting navk
{quote} And see this smaller TF pic. This is why I said more bearishness is expected on Friday. {image}
Intraday only.
  • #460,908
  • Jun 8, 2018 8:11am Jun 8, 2018 8:11am
Added more short positions @ 90 and 75.

Barnier has told the UK to feck off with their customs plan, UK back to square one lol
  • #460,909
  • Jun 8, 2018 12:27pm Jun 8, 2018 12:27pm
GBP/USD reacts to the upside this week. I think we can see 1.35 next week.
  • #460,910
  • Jun 8, 2018 1:15pm Jun 8, 2018 1:15pm
Quoting arigoldman
GBP/USD reacts to the upside this week. I think we can see 1.35 next week.
or 1.3300...
  • #460,911
  • Jun 8, 2018 5:57pm Jun 8, 2018 5:57pm
Quoting arigoldman
GBP/USD reacts to the upside this week. I think we can see 1.35 next week.
Looking at daily PA and todays' tail, I think you are right. We are currently stuck between 3393 area fib support and 3458 area resistance.
Some consolidation before break north to 35 I think.
Come with me if you want to live....
  • #460,912
  • Jun 9, 2018 7:57am Jun 9, 2018 7:57am
Quoting Ill-b-back
{quote} Looking at daily PA and todays' tail, I think you are right. We are currently stuck between 3393 area fib support and 3458 area resistance. Some consolidation before break north to 35 I think.
yes, buy the dips.
Intraday only.
  • #460,913
  • Jun 9, 2018 12:03pm Jun 9, 2018 12:03pm
Having a look, the price action on the daily chart does appear to support further upward movement, however, looking at H4 and H1, recent lows were broken and for me it depends on whether 1.3430 is broken to the upside or not.

If it is, I think it carries on upwards, if not, I think we go back down to 1.3320/1.3350.
  • #460,914
  • Jun 9, 2018 1:15pm Jun 9, 2018 1:15pm
Quoting Luzbay
Having a look, the price action on the daily chart does appear to support further upward movement, however, looking at H4 and H1, recent lows were broken and for me it depends on whether 1.3430 is broken to the upside or not. If it is, I think it carries on upwards, if not, I think we go back down to 1.3320/1.3350.
Both ways trading is possible.

Reference is buying dips though in my opinion.
Intraday only.
  • #460,915
  • Jun 10, 2018 3:43pm Jun 10, 2018 3:43pm
Here's a top-down technical outlook on GBPUSD.

The pinbar formed on the weekly time frame two weeks ago did not have much follow-through last week as bulls were only able to move price action about 100 pips further northward before bears resisted the move. Last week, an indecision candlestick was printed by price action and we may see some struggle between bulls and bears, i.e. a consolidation. However, looking left we can see that there is a likely supply zone around the 1.35700 area which may be a magnet for bulls. The area is also proximal to a horizontal S/R area. Much likely, we may see bulls take price action to that area if they successfully navigate the consolidation in the early part of this week. An ascending trendline (navy) from the low of January 2017 is acting as support.

On the H4 time frame, price action has significantly broken a descending trendline (red) from the high of April 17, 2018. It is now respecting an ascending trendline (black) from the low of May 29, 2018, which is acting as support. An inner ascending trendline (magenta) from the same area is likely to be a resistance to price action. Technically, bulls are favoured but we may not see much movement northward until the minor horizontal resistance zone around 1.34745/1.35240 is breached

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #460,916
  • Jun 11, 2018 1:22am Jun 11, 2018 1:22am
GBP news driven all week, still long over 1.3390 but longs off below I think, a close over 1.3420 (3426 atm) would be a result for the bulls with target 1.3480 to provide the oomph to 1.3900.
All charts/ideas based on UK time zone
  • #460,917
  • Jun 11, 2018 2:46am Jun 11, 2018 2:46am
Bulls remain strong ahead of UK manufacturing report, the pair would continue the bullish trend as long as the pair stays above 1.3420.
  • #460,918
  • Jun 11, 2018 2:59am Jun 11, 2018 2:59am
Although GBP/Usd is trading above 1.34 level, the upside is capped at 1.3450 level while market awaits for further Brexit developments, UK Brexiteers and EU leaders continue having trouble to find a common ground.
  • #460,919
  • Jun 11, 2018 3:34am Jun 11, 2018 3:34am
sell..sell...
  • #460,920
  • Jun 11, 2018 3:44am Jun 11, 2018 3:44am
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to err is human
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