Cable Update (GBPUSD)

May we know your next target, please?

Moty, I think you are forcing entries. Got to give it time to process gains. Secondary *high near 2280/2285 is very likely later today/trmw.
I'd wait for H1 div, at the very least.

What can i say ?
It's was a good entry , but the gu decided to continue to run up.
You know what is the difference between a and b point ?
In point A i i stayed to let it run , but it dropped immediately 70 pips , and made me wait 2 day in retracement move .
In point B i i took profit too small and then entered short for repeated drop ,but this time it doesn't drop

Yup
1.233
then 1.240
thats providing price action agrees
ie the pull back is weak and price still makes HH and HL

Edit.
However I need to see where price pulls back from to forecast targets for the next run however at the minute as it stand it’s the above, if price doesn’t pull back and carries on up My targets will be adjusted

200 EMA resistance? Overbought?

I'm still learning .

GU still has the room to go to the upside imo (1.2309-1.2323 standard W:C)... always trade your plan.

IMO. the price should never break 2272.
Likely a good retrace tomorrow.
Having said that, if it breaks 2300 on cards.

all i ask is 38.2 retracment

GBPUSD OVER VIEW

me too.



But do not worry.

2272 HH

2266 LH

another mini pop incoming to print secondary high at 2285//2295. This Friday.
then it's going to fade (2210//2230).

Do you want to fade 200 ma on round number? Easy pips?

I don't think it's easy, cause a strong pop above 2300 can produce another bull run.
But RSI/price div on H1 near 85//95 might be a good sign for fading, yes.
Weekly range is already out, provided we had almost 200% ADR move today.

Bulls own this space now, but expecting profit taking into the weekend,
so yeah combine this with AWR @ almost 100% now and just need RSI div to fade.

I see many bullish analysis and they aiming high I really don't think this will happen even the Brexit date is still 2months ahead and there is no reason that we fly any big numbers

I think we are in very good levels to short and matter of time until we break 1.2000

German Chancellor Angela Merkel has said that a backstop solution can be found by October 31st – Brexit Day. Opening the door to a solution on the thorniest issue in the Brexit accord has sent sterling surging. GBP/USD is trading above 1.2200 – the highest in a month.
Today's comments from Berling followed the 30-day challenge that UK prime minister Boris Johnson took on himself after meeting the chancellor on Wednesday. French President Emmanuel Macron – whom Johnson is visiting today – has also agreed to talk.
However, the EU has previously rejected "alternative arrangements" or any technological workaround that the UK has offered.
Britain would like to set its own customs rules after it leaves the EU and that requires setting borders between the UK and the EU. The only land border passes in the island of Ireland – and both sides have pledged to keep an open border. The free movement within the Emerald Isle is part of the Good Friday Agreement – that keeps the peace after decades of fighting.
The circle cannot be squared. It is either staying in the customs union with open borders or being 100% independent with
Johnson has repeated his position that the UK will not erect border posts in Northern Ireland – seems to put the blame for future Irish border posts on the EU.
Yet also the EU can play the blame game. By opening the door to new negotiations, both Merkel and Macron are showing flexibility. Johnson may project himself as a victor at home – getting concessions out of the strongest European countries.
The ever-optimistic UK PM may offer solutions – and Chief EU Negotiator Michel Barnier will likely reject them. It has happened in the past and will likely happen in the near future.
Both sides are ramping up preparations for a no-deal Brexit – and blaming the other side is part of these preparations.
Therefore, the jump in GBP/USD seems unjustified and may present itself as a selling opportunity.

This pair has given me many shocks this year and I do admit it has been hellish. The only key observation is that range of 1367 pips (1.3380 - 1.2013) is around the average yearly range which is usually followed by 330 pips reversal to target 1.2343 before resumption of its down slide to 1.17xx. So I do look to placing a buy from 1.2200 to target 1.2300. Then later go on a sell from 1.2300 to target 1.1800. Just my humble view and as always expect madness in this pair as nothing is definite with it. Stay green!!!

either me too on same aspect. no buying this pair. where ever got high i will take sell position., taken 10% of my equity risk.

fundamental says so..

Recession on the other hand is a serious risk for Germany. According to the Bundesbank, Germany's central bank, the country could very likely fall into a technical recession in the third quarter. Last week they predicted that GDP "could continue to fall slightly." Growth has been weak for the past year as the country grew only 1 out of the last 4 quarters. Unlike Italy, Germany is a serious problem for the Eurozone. As the region's largest economy, their slowdown will be felt across the continent.

which show expecting a hard brexit on Oct end.

A very real possibility my friend, Being friday and all.

Edit please see chart two

We all so have the supports at 1.2209/1.21084/1.20642 to be aware of as well, the 1.2108 area should be the turning point for the Bears to take back control, being yesterday's low,

Attached Image (click to enlarge)

Attached Image (click to enlarge)