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Cable Update (GBPUSD)

  • #475,661
  • Mar 13, 2019 11:10pm Mar 13, 2019 11:10pm
Looking for 3228 breaks and next target for 3189/3125/3000.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #475,662
  • Mar 13, 2019 11:54pm Mar 13, 2019 11:54pm
h1
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yes yes yes
  • #475,663
  • Edited 12:44am Mar 14, 2019 12:03am | Edited 12:44am
"Cabinet Minister Leadsom indicates the upcoming debate for Thursday
Latest is that:

  1. UK govt sees extension to June 30 if deal is passed in March
  2. UK govt proposes short extension if deal is passed by March 20

Weird headlines … if anything is clear in this whole debacle its that the UK Parliament will not be agreeing to a deal. "

https://www.forexlive.com/news/!/the...rsday-20190313

Brexit is getting more and more messy..yesterday they voted to rule out "no-deal" Brexit option..but they (most Brexiteers MPs) dont want also long extension period and also avoid total cancellation of Brexit..and as I understand, PM May will force the Parliament to vote for her deal till 20 March, otherwise she intimidate them with implying that there can be no Brexit at all or longer extension such as 2 years..

in this situation, it is really curious for me how this Brexit bs may end up..

1- Do they accept May's deal after 2 strong rejection?? less likely..but maybe possible with last minute amendments
2- Do they accept longer extension such as 2 years etc?? if they re keen to leave, they should avoid such a long extension..but maybe some MPs are not so willing to leave as they looks..who knows ??
3- Do they prefer no-deal option instead of second referandum in case of deadlock?? if they prefer referandum, most likely there will be no Brexit..so do they prefer refrandum or no deal Brexit? this is the most critical point i think..despite yesterday's voting there is still a possibility of no deal Brexit..as I understand from my readings, there is a binding agreement to leave on 29 March..so, with new agreement, EU and UK must decide to how to leave each other or to postpone Brexit or to cancel Brexit at all..if you dont make one of these actions, automatically there will be no deal Brexit..
4- of course general election is another choice..

it would be nice to hear from people who re familiar with UK's politics..

best wishes


edit: "A third defeat of the PM's withdrawal agreement next week could see EU leaders demanding that Brexit is delayed for years."
https://news.sky.com/story/mps-to-vo...odbye-11664792

make your own analysis and decisions..just giving some perspective..
  • #475,664
  • Edited 1:29am Mar 14, 2019 1:16am | Edited 1:29am
Quoting blackwinter
"Cabinet Minister Leadsom indicates the upcoming debate for Thursday Latest is that: UK govt sees extension to June 30 if deal is passed in March UK govt proposes short extension if deal is passed by March 20 Weird headlines … if anything is clear in this whole debacle its that the UK Parliament will not be agreeing to a deal. " https://www.forexlive.com/news/!/the...rsday-20190313 Brexit is getting more and more messy..yesterday they voted to rule out "no-deal" Brexit option..but they (most...
may be needed & more drama just to have a correction apparently in this pair ,let it do more till exhaustion !!running very strong bullish pa out of great fear of tanking , no pa in comfort !!

helps may come from trump also underground !! so tanking usd to catch little more up continues .usdx daily close at close tl may support a lot but may not hold before another hiccough!! let all exhaust too! will wait for great time .all ducks in same line !

Now levels as before , 3228 breaks or not to see only
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #475,665
  • Mar 14, 2019 3:04am Mar 14, 2019 3:04am
Up up and away.
Go Brexit
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yes yes yes
  • #475,666
  • Mar 14, 2019 3:25am Mar 14, 2019 3:25am
Quoting Moty
Up up and away. Go Brexit {image}
move up target?
  • #475,667
  • Mar 14, 2019 3:50am Mar 14, 2019 3:50am
Quoting asnan7
{quote} move up target?
I am looking at dx , it's going to close the gap .
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yes yes yes
  • #475,668
  • Edited 4:21am Mar 14, 2019 4:07am | Edited 4:21am
Quoting blackwinter
"Cabinet Minister Leadsom indicates the upcoming debate for Thursday Latest is that: UK govt sees extension to June 30 if deal is passed in March UK govt proposes short extension if deal is passed by March 20 Weird headlines … if anything is clear in this whole debacle its that the UK Parliament will not be agreeing to a deal. " https://www.forexlive.com/news/!/the...rsday-20190313 Brexit is getting more and more messy..yesterday they voted to rule out "no-deal" Brexit option..but they (most...
Thats politics for you.
Today they vote on to extend Article 50. Great your thinking, good for GBP. Still not our the woods yet. The clowns in parliment have voted down the deal, they have also voted down a hard brexit....but they cant agree on anything!
So they agree to extend Article 50 tonight, then what?
Well they will have to go back to the EU and ask if they can extend. The EU will not extend until the UK has put forward an agreed proposal or has a plan. The EU want a plan before they extend. They are fed up and suspect they want to move on as they have EU elections in May.

So UK will either have to agree on:
1.) A Deal - they have tried this twice now and voted down. This is unpopular with Leaver and Remainer MPs.
2.) Second Referendum - strange one this, as seceretly I suspect the majority of the clowns in Parliment would prefer to stay in the EU. However both the main parties have agreed to abide to original referendum result in 2016. Both are worried of loosing support and riots happening if they go against the peoples vote. However it does appear the public are easing to idea and pretty much fed up with the clowns antics for past 2 months.
3.) An unknown third option?

So at the moment everyone has agreed to disagree!!!

So if UK Parliment agree to extend tonight, they then need to agree a plan that the EU will be happy with to allow an extension which i suspects will be one of the points above. If they don't then decide on something soon then we depart on the 29th March (even though MPs voted this down) as this is written in law.

Thats my take on it, my own opinion is its clear these idiots cant be trusted to run our country and think only way to decide is back to the people to vote again. Lot has changed in past two years and more is known now. If MPs are allowed to vote on Mays deal twice, why cant the public vote on second referendum twice.
  • #475,669
  • Mar 14, 2019 5:45am Mar 14, 2019 5:45am
Technically, I am bearish on GBPUSD as there is formation of rising wedge pattern in a daily chart along with negative divergence which is drawn by joining Higher highs and higher lows of CCI & RSI.

STOP LOSS - 1.34176 and TAKE PROFIT - 1.24100

Before placing short position, make sure RSI sustains below 14-day Moving average.
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  • #475,670
  • Edited 7:16am Mar 14, 2019 5:48am | Edited 7:16am
Ok broken 3228, so retest 3210 to target next 3148/30 scalping.
Waiting still, perhaps only craziest bull can try against 3133/3013 tanking!! Even do may be a last up to all down to bottom play, like most!!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #475,671
  • Edited 9:36am Mar 14, 2019 7:25am | Edited 9:36am
dx h1+15m
GU 15m
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yes yes yes
  • #475,672
  • Mar 14, 2019 9:37am Mar 14, 2019 9:37am
GU H1 +1M
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yes yes yes
  • #475,673
  • Mar 14, 2019 10:23am Mar 14, 2019 10:23am
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Medium to long term target.
Everyone can see the chart, but only a few can actually read it.
  • #475,674
  • Mar 14, 2019 10:40am Mar 14, 2019 10:40am
Little invert h&s hited for 30-40 pips
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yes yes yes
  • #475,675
  • Edited 11:21am Mar 14, 2019 11:09am | Edited 11:21am
Quoting oblong
{quote} Thats politics for you. Today they vote on to extend Article 50. Great your thinking, good for GBP. Still not our the woods yet. The clowns in parliment have voted down the deal, they have also voted down a hard brexit....but they cant agree on anything! So they agree to extend Article 50 tonight, then what? Well they will have to go back to the EU and ask if they can extend. The EU will not extend until the UK has put forward an agreed proposal or has a plan. The EU want a plan before they extend. They are fed up and suspect they want to...
i feel that most of them are wishing second referandum to get rid of responsibility of avoiding Brexit, but they are acting as if they wish really Brexit..in case of second referandum, probably with the effect of mass media and fed up feelings of people (from prolonged process), the result will be different than first one..

as you prefer, perhaps the better is asking to people again..

thanks Oblong for your insightful comments
make your own analysis and decisions..just giving some perspective..
  • #475,676
  • Mar 14, 2019 12:03pm Mar 14, 2019 12:03pm
Voting started
Forex Learner
  • #475,677
  • Mar 14, 2019 12:42pm Mar 14, 2019 12:42pm
if the daily fails to rally and close way above 1.33, i think it could be a good sell for intra-day
Don't Worry Be Happy
  • #475,678
  • Mar 14, 2019 1:44pm Mar 14, 2019 1:44pm
That was close, PM remains in charge of Brexit by winning two votes. Reckon she would of resigned had she lost that one.
Other key vote, they have agreed to ask EU to extend Article 50.

So next stage will probably be another vote on her deal again and another vote on holding a second referendum.
Today's vote on holding second referendum was not expected to win, as the key people who want second referendum abstained as its too early and they want to
see how the other motions put forward will play out.

So the poker game / merry go round continues!!!

Next week will be crucial as they will have to decide on something before they ask EU to extend.
  • #475,679
  • Mar 14, 2019 2:11pm Mar 14, 2019 2:11pm
Quoting oblong
That was close, PM remains in charge of Brexit by winning two votes. Reckon she would of resigned had she lost that one. Other key vote, they have agreed to ask EU to extend Article 50. So next stage will probably be another vote on her deal again and another vote on holding a second referendum. Today's vote on holding second referendum was not expected to win, as the key people who want second referendum abstained as its too early and they want to see how the other motions put forward will play out. So the poker game / merry go round continues!!!...
nicely summarized
make your own analysis and decisions..just giving some perspective..
  • #475,680
  • Mar 14, 2019 2:32pm Mar 14, 2019 2:32pm
Quoting blackwinter
{quote} nicely summarized
Thanks Blackwinter.
Must be hard for people outside UK wondering what the hell is going on, bad enough being in the UK :-)

At least the opposition/Labour motion was put to bed, they wanted to extend Article 50 and come up with a new plan/deal with the EU (not sure EU would of gone for that though).
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