Cable Update (GBPUSD)

Time to short until next week

little bit messy but i think the message is clear. Volume confirming the recent bottom. Lots of confluence in that rectangle around 27ish. equal legs move plus its a little more than 50 back from the recent swing to the 9/19 low. Ideally id like to see a pullback to that 2340 level. Maybe Sun or Monday. If so im loading the boat and looking for 2650+

I'm not calling this Bullish or Bearish folks just looking at the probabilities,
But I'm still unconvinced, the Bulls have control,
probabilities from a T/A point of view, still are heavily in favour of the bears,
Daily chart still bearish, Weak bulls, volume falling away as well

Attached Image (click to enlarge)

The second chart still shows a lot of resistance points, although the H/S in the 4 hourly chart Has played out well.

Attached Image (click to enlarge)

The USD Daily index is still showing a weak bearishness about it, and still can go either way at this time.

Attached Image (click to enlarge)

The smaller time frames are showing a pennant flag break out in the hourly,
EDIT Let's not forget it's friday as well, also there is Weak volume and that could suggest failure

Attached Image (click to enlarge)

Big move seems speculation due to news. Will fall like ice soon.

yes

hello scopier, personally i dont feel it is time to sell the cable. please look at the weekly and monthly charts. i am seriously buy biased.

i may be wrong though!!! all the best

H1 NEW

M 5 view drilled from h1

it is not likely to break 2470 today.

HH 2470.
HL 2419
LH 2464.

all in NY session.

Now today 2455/60 max.
Then daily pivot 2370 first, thereafter 2325.

However break 2470 will take the price easily to 2500. or even 2538. Chances are bleak today as I see 4 hr and daily resistance at the top on NY session.

Those who are short have stop above 2470.

interested in giving a little comment here,
I just believe that Cable just took off!
but everything is possible in the market, especially with the Brexit agenda which saves time bombs.
lets see !

What will you do pound?

It's friday my friend, I think you have made the right choice

yesterday it chopped me so today i am trying to recover a little bit maybe today will be flat. also there is no data for gbpusd lets see trade is trade

There is a meeting today in the morning to discuss whether the alliance between UK and Ireland is something of a solid ground with the EU in order to move foreward to discuss more... I am just fukin confused that how can the cable shoot up 250 pips on a glimmer of hope...what if the EU said well we dont think that will work.....so, I am biased towards bearish... I honestly wont accept anything other than full reversal to convince me to come back to the market to trade again, because I am keeping my profit from yesterday for now. Otherwise, the direction is not clear, and its heavily manipulated by a cheap movie with cheap actor (Borris)....

Again trying to hit 2600 it's rejection of the recent down in day chart , almost reached at upside trend line in weekly chart

Sorry to hear that, scalping is the way to go IMHO at least until Brexit, USA's trade problems settle down,
way to many spikes going on, to think about holding for the long term.

yes, they will play like this for ever.

one step over that high

Long in at 1.2456