Cable Update (GBPUSD)

what is GU prediction of the next week

Next week, initially the PA could be bearish.

However, the daily MACD is bullish.

So one should try to go long around weekly pivot point.

TP before market closed for 20+ pips so no open GU this weekend, just avoiding any potential upside gap.
There were those who called 3135, they must be very happy lol.

Rest of this month:

Daily



Not comfortable for shorts if PA starts targeting 3150 next week.
Will find long entries above 3200.

4 Hour



I will let your imaginations interpret it.
With the Brexit noise still around, might be another visit to 3100-3130 and finally push up to 3200 if this level doesn't hold.
FED Rates end of this month, any highs I will sell it provided below 3150.
Pretty sure there will be a rate hike this month, good luck!

PS. Take a look at UC, EU, and AU this week and find opportunities for next next week.

It has been brilliant making use of my research work to trade GBPUSD...

Over 140% return in investment trading mainly GBPUSD pair. Research and analysis on target. Stay green!!!

ok I already posted a Q longer term it's bear at this time ,
rather than just saying I'm bearish that's a fact till it changes, longer term view is dictated not a general opinion
then monthly draws close also Q into final Q

you need a weekly for bear outlook ,
the high of last week challenged the open of that previous month ,very important next 2 weeks as to the month, q close
as I said a great weekly in the area above would be a runner ,(brown line on my monthly above ) because I'm reading from history that's where banks went short
I've guessed the channel top totally
no way am I going to draw any lines through price and make them personal

long wicks show agression
good work by the doji cross that halted the down ,if you like argue it as random

Attachment 2994124

I don't know it's not clear first movement

Kiss

A break of top resistance will mean a bullish trend.
we may get a push up to resistance a slight pull back then big breakout but these are both bullish options and bearish options. At the minute we are in bearish zone how ever it may push up into that bearish zone buy 80 pips (I’ve not drawn the bearish area on here just the very last part of key area)

Reaction off TL.
Looking at daily candle reactions, I see 2930 area as bull/bear battle zone.

Long term daily says 3450, so it looks like I will be long on the dips.

Daily ?... what about possible short target back down to around 1.3035

If I was a bear, the look at the monthly chart would scare the hell out of me. Even if a big dip comes again (2800-2900)...all bulls need is to close the month around 3100 and next month a spike up can be without any retraces...hundreds of pips up one way...that would be fun to watch, all the whining and manipulation calling, even though it would be just a fine and logical technical move.

in cable we've got the quarterly in a buy. It is the third bar after trend change and we dont see strong dynamic pressure recently. We have two more weeks to the close of the quarterly bar. On the other side a new ABC developing and if the market can move higher there is massive resistance ( OP agreement + confluence zone) up at around the 1.50 area




The monthly is in a sell and the 0.618 support holding for now.




Looking at your weekly; trend turned into a buy with very good initial follow through on this buy signal. First good resistance stands at 1.3160-65ish which is agreement of 0.618 fib resistance + 1.00 fib expansion and more resistance higher up 1.3317 and 1.34 respectively.




On the daily as you see market couldnt reach the 1.3165 level yet so it is probably gonna be buying opportunity on the lower timeframes for a move up to that level.




You can see the perfect 0.618+ 0.382 confluence support levels on the 4hour to long the market for short term..



So cable looks strong on the short term but it s bearish on the long term. We have weak dynamic pressure on quarterly buy; monthly trend is in a sell and weekly buy signal can be faded by monthly traders at strong fibonacci resistance levels.

on the q you would have to see it to belive it as bullish next ,
high probability bearish outside means this will go lower ,but we need the print
very high prob it will not take the high,the fact this q is small means nothing and yet to print
it could print like that and still very high down

outside 2 candle
hammer 1 candle

example on monthly
if you have the rejection as we did then confirm
the next candle cannot be treated as bullish

So this would be a place to consider it being a dip, would it not.. However we are currently back trading above the average so it may not make that southern journey.