Cable Update (GBPUSD)

Now initial target set for 2115/06 before 2065. Bear may not happy with 2155 breaks!! Take care

2 nd try . 2175 was taken out

Bull run will continue..

It's coming

ONLY GOOD FOR SCALPING FOLKS,
IT COULD BE AS EARLY AS LATE NEXT WEEK BEFORE WE GET ANY REAL DIRECTION,
EDIT SPIKES NOT WITHSTANDING OF COURSE.

Attached Image (click to enlarge)

short @ 1.2180

sl 30 pip
tp open

I'm still bullish
Daily we have had a inverted head and shoulders formed at a major quarterpoint 1.20 and confirmed with a neckline break

4 hour was a little choppy but studying raw market movement (blue lines) price is now pulling back to test that key support (neckline) area you can also see that rising trendline

Too be honest I have got no reason to sell unless price breaks structure on my 4 hour

I've got two buy positions still targeting around 1.235

pivot chart

morning
SOLD 1.2183

cautionary level @ 1.2158

my opinion 2155 and below drop need to be bought.

Today is Friday and Month end. Beware.

Hi,


GU is trading below 50 EMAin DAILY chart and below the daily center pivot point. There are still more sellers in the markets. GBP NEWS will release at 11:30 GMT.

potential setup on H1.

closed for a few pips and sidelined until i get a better intraday picture

need to see confirmations before going short again

I'm just getting started scaling on sell side.

Hello guys, have a question,we playing cards, what is stronger 50% fib or support resistant level made from 2 tops? thinking to sell pound if closed below ~2170

Use it all as confluence you want multiple reasons to be long or multiple reasons to be short, one thing doesn't disqualify the other or is better than the other

It's a scalping day

Moty, do you think the Bulls would resume in NY session?

More food for thought what is easier to see
The 3rd touch of a daily trendline with an engulfing candle for short

Or
The small Head and shoulders pattern with a neckline break and now a retest

People took the short because as above its a major downtrend with daily trendline touch and bearish engulfing perfect and yeah that may still work out but what people didn't see is what they where actually shorting Into price action and structure had turned bullish but people haven't noticed this yet which in theory the third touch may more than likely be a big bear trap to catch retail shorts before moving up.
Banks buy into selling pressure and vice versa they have to otherwise the markets would not move if everyone was buying at the same time.

Take a look at the weekly price is now moving up which of course on a weekly time frame is a pull back
Also the monthly is showing rejection at a previous structure level before moving up

I hate news don't listen to it but for those fundi out there

There was an article about how some important decision needs to be made on Brexit next week which I suppose is good news as it puts aside alot of indescion with a choice of some sort being made which would be good for the pound.

September start of a new month volatility is back.

Just no works so checking usdx pa in lower tf to decide for others, ok still for bull continue.
In higher tf may not compromise more like lower ones! Take care bull others.