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Cable Update (GBPUSD)

  • #465,141
  • Sep 24, 2018 9:02am Sep 24, 2018 9:02am
Quoting Mr.N
{quote} I search for something like this.. Yours show me only 2 lines (weekly and daily) *I don't know if what I upload here is precise {image} {file}
here
Attached Image (click to enlarge)
Click to Enlarge Name: GB D1.png Size: 70 KB
yes yes yes
  • #465,142
  • Sep 24, 2018 9:17am Sep 24, 2018 9:17am
Quoting FX Beginner
{image}{image}{image}{image}
this was written for friend looking to by USD at some time in future, may be of assistance!


Attached is a Currency Strength Chart
comparing the main currencies; US$, EUR, GBP, Swiss F, Australian $, Canadian $, Yen, New Zealand $ against each other.
Green is USD
Red is GBP
Blue vertical line is Brexit vote date.

Regarding GBP (see "181024 GBPUSD.currency strength chart projection.JPG" )
Can see actually GBP was already moving down compared to the above currencies in general before Brexit. Brexit just speeded decline up.
GBP then went into a horizontal Trading Range (red box), what I think is an Accumulation Range where big money buy up the £ with view to taking it up.
Since late 2016 it started moving up and out of the range.The two red lines forming an up channel show general path of the £ since February 17, this is normal for Accumulation with expectation of taking it (£) up. The two dips are normal and to be expected shake outs.
Regard USD
The green channel roughly plots the USD as being in a long term down channel since before 2014.

At the first vertical green line it shows USD and GBP being relatively weak within their respective channels (both at a low). At the second vertical green line it shows them being relatively strong. Both scenarios are not much good for you, you want to see them far apart with GBP at a high and USD at a low.
Over the last few months USD has been weakening and GBP strengthening. Based on current path the "diagonal" green project USD and "diagonal" red projects GBP, ie some time in December (all things being equal!) should see strong GBP and weak USD and then both expected to turn the other way.

Looking at Weekly Price Chart
Pink bands shows expected danger/ reversal levels based on previous reversal levels.
Red, almost vertical, bars shows targets given the accumulation range as it stands at the moment (it is still growing and high target may get higher). The first two lower bars (marked 1 and 2) have hit their targets spot on at the high end of the targets. The pink zone and target 3 line coincide where i have marked red rectangle and likewise for target 4.

Blue lines represent anticipated price path. I would say overall at all looks very bullish long term for GBPUSD.

Trick now is not to get greedy, depending on your time frames next best time will be Decemberish. There is usually a big spurt in price before a turn in the market, look on day charts for that and buy USD as soon as you can. Next higher/ peak time may be next year but thats impossible to forecast.

This recent sharp up but bigger down move looks like may be a shake out, next few days to week will tell. If it goes straight up without staying horizontal for few days, that is very bullish. There was a chance it could have gone down to 1.3 but its recent low is shown as hitting its low target (see PnF chart)
You owe me many pints for this!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 181024 GBPUSD PnF chart projection.JPG Size: 413 KB
Click to Enlarge Name: 181024 GBPUSD currency price chart projection.JPG Size: 490 KB
Click to Enlarge Name: 181024 GBPUSD currency strength chart projection.JPG Size: 222 KB
  • #465,143
  • Sep 24, 2018 9:23am Sep 24, 2018 9:23am
Quoting Moty
{quote} here {image}
Thanks
  • #465,144
  • Edited 9:55am Sep 24, 2018 9:40am | Edited 9:55am
Probably GU will be long again tomorrow.

My chart says so.
Intraday only.
  • #465,145
  • Sep 24, 2018 11:30am Sep 24, 2018 11:30am
Here is my View of this currency GBPUSD H4 ...

GBPLFX Index H4

Attached Image (click to enlarge)
Click to Enlarge Name: GBPLFXH4.png Size: 54 KB


USDLFX Index H4

Attached Image (click to enlarge)
Click to Enlarge Name: USDLFXH4.png Size: 48 KB


GBPUSD H4 .... downside movement ... 1st area 1.297xx and 2nd Area at 1.289xx

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 47 KB
  • #465,146
  • Sep 24, 2018 11:47am Sep 24, 2018 11:47am
Quoting mrhb30jr
Here is my View of this currency GBPUSD H4 ... GBPLFX Index H4 {image} USDLFX Index H4 {image} GBPUSD H4 .... downside movement ... 1st area 1.297xx and 2nd Area at 1.289xx {image}
GBPUSD... H4TF SELL open position ...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4A.png Size: 54 KB
  • #465,147
  • Sep 24, 2018 12:16pm Sep 24, 2018 12:16pm
GU 15 M +H1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GB H1.png Size: 31 KB
Click to Enlarge Name: GB D1.png Size: 21 KB
yes yes yes
  • #465,148
  • Sep 24, 2018 2:07pm Sep 24, 2018 2:07pm
Here comes some brexit news about the cabinet agreement. More migrants
  • #465,149
  • Sep 24, 2018 2:54pm Sep 24, 2018 2:54pm
Quoting Zircon
{quote} Nice setup R/R ,i know you are long term trader, i hope it will be rewarded. from my side it will be preferable to wait for this daily engulfing to be confirmed. I believe there is a confirmation in 4Hrs chart Three identical bearish candles, but the weekly candle i do not see it a shooting star, needs to be confirmed. See the yearly pivot it seats just above it , in the yearly chart i call it inverted hammer especially if the next opening is gap up not a shooting star. the opening is very important hope the best.
80 minute to daily close , i think the actual daily print is near to this level.
if it is the case i do think yesterday bearish engulfing power is the mean direction of the weekly move.
bullish harami today need another day to be confirmed .
4Hr chart attached , 1.32 to be watched (62% fib level) i think this level could be a good entry with less risk.


Trade safe.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2.png Size: 27 KB
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #465,150
  • Sep 24, 2018 7:42pm Sep 24, 2018 7:42pm
The pullback on the GBPUSD may be over and the pair may go back to the 200 day EMA and the 1.3300 level. To the downside, the 1.3000 level may act as support.
  • #465,151
  • Sep 24, 2018 9:00pm Sep 24, 2018 9:00pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 43 KB
It's a big game.
  • #465,152
  • Sep 24, 2018 10:58pm Sep 24, 2018 10:58pm
Long GU here at 3102. tight stop. 3130 TP.
Intraday only.
  • #465,153
  • Sep 25, 2018 1:27am Sep 25, 2018 1:27am
EJ short limits in place too for today. ( Above 132.75 )
Intraday only.
  • #465,154
  • Sep 25, 2018 2:19am Sep 25, 2018 2:19am
Quoting navk
Long GU here at 3102. tight stop. 3130 TP.
1 pip.+ out.
Intraday only.
  • #465,155
  • Sep 25, 2018 2:20am Sep 25, 2018 2:20am
Quoting navk
EJ short limits in place too for today. ( Above 132.75 )
this is doing well though.
Intraday only.
  • #465,156
  • Sep 25, 2018 3:13am Sep 25, 2018 3:13am
Quoting Mr.N
Strong support from 1H sma300 , + Ingor sma200+300+400 at 30min +Colors at level 2 +Last BB The stop is 1:1 from a new high to entry point GL HF {image}
Update :

Nice Blue Engulfing candle, wait for the new high..
Attached Image (click to enlarge)
Click to Enlarge Name: GBP1HSMA300BUY_4.jpg Size: 70 KB
  • #465,157
  • Sep 25, 2018 5:13am Sep 25, 2018 5:13am
I'm short 1.31517, TP 1.31056. Still have a sellingposition down there that didn't work out yesterday. Hope it's going further down today....
  • #465,158
  • Sep 25, 2018 6:15am Sep 25, 2018 6:15am
sell 1.31560
  • #465,159
  • Sep 25, 2018 7:35am Sep 25, 2018 7:35am
Fresh EJ short taken. will be added on the move up.
Intraday only.
  • #465,160
  • Sep 25, 2018 8:02am Sep 25, 2018 8:02am
https://www.forexfactory.com/showthr...7#post11514207
Attached Image (click to enlarge)
Click to Enlarge Name: guuf ugf ug fug.png Size: 27 KB
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