Cable Update (GBPUSD) | Page 26214 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #524,261
  • May 30, 2020 3:15pm May 30, 2020 3:15pm
Quoting fontu
{quote} Ok if the was wave already ended then a reversal likely the option but as limit 2725 intact we can't tell that now, if low actually in situ in abc down wave the must go for the limit where it already tried twice and failed. If this us a real bull atempt or better say actually great reversal attempt then also wave 1 of, next wave i of 3 ended the correct down to tl to impulse wave iii of 3 breaking much above that limit for sure in short time. Hope not now as market not any ready for any great bull so soon, years may need in making bottom...
Is better to say wave B.

I'm saying about the drop, another wave bearish inside the channel will finish in 1.19 ( fibo 61.8 ). After this the bulls can push the price above the channel. But how i said, is too early yet. Let's trade the price, crossing above, let's buy. For while it's going up.
Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 28 KB
Together we can be strongest
Vantage Return This Month: na
  • #524,262
  • May 30, 2020 8:46pm May 30, 2020 8:46pm
Quoting Roszey
i posted this analysis earlier this week.. BEFORE {image} AFTER {image}

am sure no one paid attention to it
Because your funny arrows make no sense WHATSOEVER.

Ignored

Thank you for trading real money
Beware of robber banks (RB), bad advisors.
  • #524,263
  • May 30, 2020 8:48pm May 30, 2020 8:48pm
Quoting Roszey
Every analysis makes sense but there will be only one winner.... Bear or Bull, who knows. Time will tell.... .
LOL
Beware of robber banks (RB), bad advisors.
  • #524,264
  • May 31, 2020 12:36am May 31, 2020 12:36am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 12 KB

if we consider this triangle , then broken and closed upside , so a strong hint for uptrend but will be tested ,if it holds then 2455 might be on cards on Monday. 2455 to 2485 is critical zone where sellers might get interested.
on the other hand weekly candle hit the resistance at 2390 and was thrown below 2300 on that 4h candle but bounced of again to end up on 2342 at market close , considering it 2390-2400 should be tested again .
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 25 KB

conclusion
My bias is bullish above 2300 on monday upto 2455.
but a day trader should definitely trade on the basis of what he sees on the charts that day. Stay Green...
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #524,265
  • May 31, 2020 1:31am May 31, 2020 1:31am
Quoting palpite
{quote} Is better to say wave B. I'm saying about the drop, another wave bearish inside the channel will finish in 1.19 ( fibo 61.8 ). After this the bulls can push the price above the channel. But how i said, is too early yet. Let's trade the price, crossing above, let's buy. For while it's going up. {image}
ok , wace b down can be bottom 0 fib or near too say 87% , and if 61.8 % rect for test limit also a last chance crack the limit action , do or die, do no necessary all reversal attempt success and only bull as medium term bottom formation still may take place before 3199 signal and 3514 confirmation, die if fail for the last time breaking 2725 the bottom & more likely new lows . ok weekly printed very big bull candle , monthly having very big lower wick pointing bull action but not enough , as monthly may still play few more months to cover more of the lower wick and already bear continue in the past why not even try to follow through big bear even! break the wick tip scenarios as may see yearly candle already Big bear one with no wick at the top!!can be a marubozu yearly!! anyway no decision at all and so bull try just visible but not any absolute , more ranging rang down most probable than any conclusion , spikes ups and spikes down followed by a plateau action potential.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 35 KB
Click to Enlarge Name: GBPUSDMonthly1.png Size: 32 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #524,266
  • May 31, 2020 1:50am May 31, 2020 1:50am
Hello fellow traders,

As expected the pound did have a good month in May, but this may not be the worst to come. They are doing very well in the crisis and the impact is yet to come IMO.

Also the dollar from a technical view may have found some bottom last week, but there is always room for further fall.

Something to keep in mind for the next week - it is an NFP week and it will be all about the dollar. There are not much news about the pound, so I think this will be the moving power.

Looking at the charts - it is a two way scenario - a break ot 1.24200 will give some more upside and a break of 1.22500 will take us further south. Personally I think it will be first south before we see some recovery due to the expected strengthening of the USD.

All in all - trade what you see and don't get too emotional about it. Stay safe and green
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DXYweek.jpg Size: 140 KB
Click to Enlarge Name: GBPJune.jpg Size: 225 KB
Patience and Discipline.
  • #524,267
  • May 31, 2020 2:18am May 31, 2020 2:18am
i want to see the close of the next daily candle at the dx
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gud1.png Size: 22 KB
Click to Enlarge Name: guh1.png Size: 29 KB
Click to Enlarge Name: dxd1.png Size: 27 KB
yes yes yes
  • #524,268
  • May 31, 2020 3:24am May 31, 2020 3:24am
Like msniper said, tommorow will be bull day.
If stay above 1.2270.
  • #524,269
  • May 31, 2020 3:47am May 31, 2020 3:47am
Quoting Gilaforex13
Like msniper said, tommorow will be bull day. If stay above 1.2270.
It is okay to have a trading bias but market always sets the tone and we follow by reacting to it. In all the opening days of the month in year 2020 price has sold, while there hasn't been 3 consecutive weeks of buying in 2020 so far. Also in 2019, of the 52 trading weeks there were just two instances where 3: consecutive weeks of buying took place and that happened between September - December.

Fingers crossed, whatever happens on Monday will necessitate a timely response.
Data + Stat + Risk/Emotions Management
  • #524,270
  • May 31, 2020 4:32am May 31, 2020 4:32am
Bring on monday!
Attached Image (click to enlarge)
Click to Enlarge Name: Annotation 2020-05-31 103207.png Size: 21 KB
  • #524,271
  • Edited 6:51am May 31, 2020 4:52am | Edited 6:51am
EU ready for a dump...GU will most probably join. Its the beginning of the month...even if it turns bullish, it never does so from day 1, expecting 1-2 weeks of scares first, so I am not buying this. I posted my trade plan on twitter.
Everyone can see the chart, but only a few can actually read it.
  • #524,272
  • May 31, 2020 6:05am May 31, 2020 6:05am
On my analysis, with this situation on W1 and D1, at moment 1.1820 is on the table as possible target in the middle of June
I hope some of you have similar idea
  • #524,274
  • May 31, 2020 6:56am May 31, 2020 6:56am
Quoting Not-KPMG
Hidden
last week you made fun of him and said it was going lower but it went to exactly where he said it would. its really childish.

didn't you blow your account on cable a number of years ago as well.
  • #524,275
  • May 31, 2020 6:56am May 31, 2020 6:56am
Quoting Qu|cksilver
nice move.. i hope will hit my target today @ 1.9030 then i will short again at 1.9030


True story it was 1.90....

Where's Onlinus to tell us 1.45 is cooooming

Remember!?
Quoting OnlineAddict
{quote} Yes, there will be 1.45,
I never said a 1500 pip move would come soon, I am not trading demo like you.
It may take months or a year, I don't really care,
I will keep buying the dips and...
Blaaaa...
Lies too..... +1:
LOL
WHEN 1.45 ???
Great wise Onlinus Longus!!!
Beware of robber banks (RB), bad advisors.
  • #524,276
  • May 31, 2020 7:00am May 31, 2020 7:00am
Quoting fx2022
{quote} last week you made fun of him and said it was going lower but it went to exactly where he said it would. its really sad because still waiting 1.45 .

didn't you blow your account on cable a number of years ago as well.
He lied a lot.

Demo. Yes. Big short left open at BOE lunch. Damn office boss.....
But I was so bored by then I gave up paying attention to demo.... Check my posts.

Short was around 1.33 . Sue me

Sooo do you want to achieve same great results??
Put in few years work and discipline and brains....

It worries me people never THINK why I leave the account to stay in my record.....
Attached Image
Beware of robber banks (RB), bad advisors.
  • #524,277
  • May 31, 2020 8:50am May 31, 2020 8:50am
Quoting Not-KPMG
{quote} True story it was 1.90.... Where's Onlinus to tell us 1.45 is cooooming Remember!? {quote} LOL WHEN 1.45 ??? Great wise Onlinus Longus!!!

Personal vendettas? I don't like this clown. I'm out of here.



This is for you, prick:
Gone to a better place
  • #524,278
  • May 31, 2020 8:50am May 31, 2020 8:50am
Sorry guys. Bye...
Gone to a better place
  • #524,279
  • Edited 9:49am May 31, 2020 9:08am | Edited 9:49am
Looking at the week ahead

Central bank stuff:

Aussie, CAD & ECB-
plus NFP data on Friday

Usual stuff will give me a heads up

Pound

Tuesday - Brexit negs start

https://parliamentlive.tv/Event/Inde...0-b0a412be018b

https://assets.publishing.service.go...gotiations.pdf

https://www.express.co.uk/news/uk/12...-latest-update

https://uk.finance.yahoo.com/news/uk...135557410.html

Any extension needs to be done by 1st July - however, Boris has refused to extend.

Other pound news

FT reports major investment in UK infrastructure to get the economy moving

Interesting view on negative interest rates:

https://www.poundsterlinglive.com/gb...interest-rates

Need to double check for increase in infections - any spike and this will send the pound down- check next week
One trade I would not rather take


Globally

Trump/China relieved a lot of tension-

Also any positive vaccine news will send this S&P up

Goldman Sachs agree with me:

https://www.goldmansachs.com/insight...l-cassell.html

Fundamentally speaking the pound is due a kicking

When Frost spoke last week- there was a big sell on the pound

What businesses want is certainty.

So whether its a Canada or Australian style Brexit deal...

Thursday 4th June is when we should hear something....whatever Frost says it will move the markets

The expectation is that we will hear bad news...so is we get something positive the pound will rally
Even if we get some negative news and the pound has sold into it- I will probably buy it

Overall would expect the pound to be under some pressure earlier in the week
Would you buy the pound at the moment in the midst of Brexit negotiations that are not going well
So overall my bias in slightly bearish.

A re-test into the 4pm fix on Friday would be nice

I know that Danske are bullish on EURBGP.

US Dollar

Data release estimates-

Monday- Wednesday strong
Thursday -Friday weak

Euro

On Thursday - there is an expectation of doubling the pandemic bond buying
https://www.rte.ie/news/business/202...eting-minutes/
Personally, I think it will be the higher rate.
So its likely to be a sell on the Euro on Thurs

Gold

Will check flows etc.... but this is interesting

https://www.etftrends.com/alternativ...nst-inflation/

Not as easy as last week - timing and levels will be important.
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #524,280
  • May 31, 2020 9:09am May 31, 2020 9:09am
Bullish harmonic pattern already formed a while ago in Monthly time frame, followed by H1 & H4 current strong bullish trend
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H4.png Size: 44 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Monthly.png Size: 53 KB
474 traders viewing now, 1 is registered: