Cable Update (GBPUSD)

plenty money and more to go. Short covering

TALK ABOUT TODAY

Both my trades eu and gbp in sl i can still trade tomm

Misson almost accomplished i quit at 1.2419 thats enough after too many waves

all closed scalping to see how react soon , usdx gap filled & so ready to tank perhaps .take care

Looks like instead of Tusk; Barnier or Varadkar, it is what Bettel from Luxembourg says that sent the GBP down (who would have thought lol), maybe the overly optimistic euphoria of Brexit is over and further retracement down is possible now.

Target hit now if price cannot touch 1.2390 then it can go to 1.2523 be carrefull bears

SWITCH TO LONG

Tonights close needs to be above 50% point from friday's high low's, in order to remain bullish,
being at the 1.2416 area,IMHO
If tonight's close, closes above or below this point (1.2416)

Then this could determine what sort of day we could have tomorrow.
Edit So I am out for now, good night all.

Attached Image (click to enlarge)

USDGBP (ICE) daily AB and TL.
some upside likely remaining for GBPUSD.

Buying dips is ok, just need a confirmation near 2380//2400 soon.

FED rate cut should boost GU 2550//2600 is possible later this week.

GBP: Caution Here; Further N-Term Gains More Challenging & May Quickly Reverse Course - MUFG

MUFG Research discusses GBP outlook in light of the latest Brexit developments.

"The pound remains close to recent highs after cable hit an intra-day high of 1.2523 overnight and EUR/GBP fell to an intra-day low of 0.8856. The pound has now run into stronger technical resistance levels between 1.2500 to 1.2600 for cable where the July highs are located, and support at just below 0.8550 for EUR/GBP from the 200-day moving average. It should make further near-term gains more challenging for the pound after its recent sharp rebound," MUFG notes.

"The pound continues to derive support from building optimism over the prospect of a last minute Brexit deal stemming from reports that the UK government is working on a type of Northern Ireland-only backstop to ease concerns over a hard border in Ireland ...However, we still believe there are major hurdles to a last minute deal...Evidence of progress on both fronts will be required for the pound to build on recent gains. If it proves elusive, the pound could quickly start to reverse course," MUFG adds.

Just in case someone is wondering what MUFG stands for. They got a strong FX track record and a nice team.
https://www.bk.mufg.jp/global/produc..._research.html
(not an advert, cause you won't be able to get their analytics anyway).

I AM A BREAK CRACK

just another quick look at GBPUSD daily channel, it definitely puts 2550-2750 area in spotlight for the bulls.

clean break of the mid line

So checking usdx again, as was likly tanking level, may try close daily at 98.16, should not exactly, yes tanking may have started. Pa now. So others bull try to sideways till next day thrust up if!

Looks tricky but still bearish. The economics still favor the usd

GBPNZD setting up for a 400 point run on further NZDUSD weakness.

Ok, no problem for usdx bull yet, but once breakout may be to clear it first. So likely continue bear before a good support again. So others bull try continue likely next Take care

TRICKEY INDEED