Cable Update (GBPUSD)

on daily if we repeat the previous pattern from 2014 then it's possible that we are in the wave3 of the new 5 wave sequence.
And then this is the path to parity.

Expecting bull turn before brexit conclusion.oct 29

Why you think brexit should effect bad on GBP?

hope so and may waste time around monthly/ weekly/ daily supports zone before down. apparently playing at the middle of the present range in higher tf 1300 to 2800 big and smaller 2381 to 1900.so extremely bearish though at best support zone possible presently!!

No I would say Shorting from Resistance would be a good Plan. First being 1.22490 and Second being 1.2351.

Enjoys the Ride Down from Here.

See you

Bye Bye

I am going to short from 12250 although I have a feeling the relatively weak 12180 area might be relatively respected and it'll pop back to 12080. My first post though so no one should listen to me!

tomorrow, daily R1, THEN retrace down..... for bog move up.

GU.

Gu hit the 1.618 extension so what do I expect?

Trend is still clearly down but I am expecting the market to somewhat pull back, looking on the daily previous structure comes in nicely at the 61.8 fib retracment along with the nice psychological whole number of 1.24 and a trend line tap, could we see a pull back to here? Potentially

Looking at the 4 hour we still have not had a bullish trend change but price could be forming a inverted head and shoulder pattern.

This is countertrend trading so I'll more than likely just sit back and watch

W1+D1

Here's my take on the GBPUSD, from the technical perspective of a swing trader.

Price action is operating in a falling channel (blue) on the daily time frame. A bottoming pattern has formed around the 1.21600 horizontal resistance zone and it is reacting near the channel support trendline. This may translate to a bullish pullback in the days ahead; perhaps, targeting the channel resistance trendline before a southward turnaround. In the short-term we are likely to have a northward pullback, but in the medium term the market is technically bearish. Thus, any bullish move is likely to be short-lived.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

waiting for these arrows to go short for new low. I am expecting 1.195x but I might exit before that

I want to see 1 spike to make decision.

Thats why i never trade below D1
all the 4h support broken and price consolidate around the lines now

so far so good

My call for the week folks, the fibs are set up on the daily chart.
Edited the chart.

Attached Image (click to enlarge)

Sold between 2172 and 2180. ( sell limits placed on friday )
Booked at 2152.

Broker has some server issues for use by clients, so had to call them over phone to set TP. And trades closed.
Client terminal not working whereas brokers support staff are able to alter or close trades.
Strange.
They say it will take 4 hrs to fix problem. So london open ahould be fine.

Hi , I didn’t receive any mail, i been looking for few days

Edited : I just found your email , will download and take a look later , at work with cannot download yet
thanks