Cable Update (GBPUSD)

Understood. One pays for the other though.

Anyway, here we go Guys.

Last spurt for 1.28000.

Have a great weekend
Cheers.

Sorry I missed your post . Been away all day just back on now . So we are still in the long trade .

LETS GET READY TO TUMBLE https://m.youtube.com/watch?v=Yd85ozj0p8o

retrace yes. tumble? Not sure. I dont see a trend this big syarting at 3pm on a friday. More likely during asian market monday.

Lol just a bit of fun or is it break then I would say 2848!

2792 is now the stop and long order on .

Oh man , me too

I lived in jersey some years ago - banquec du Paris . We’re saying gold going to be £600 .. yes I said in disbelief

W/E analysis

Market close- so will do my w/e analysis now.

On Friday, price travelled 78% of it's 30 day adr. This week 104% of it's 13 week awr, and so far this month of July 84% of it's 3mth amr.

Price resumed a 'general' uptrend on all t/f's 1hr to daily, after some mid-week consolidation on sub 4hr t/f's that was broken to the upside. On the weekly from the 1411 lo the fractal prints have been LL, LH, HL, H, HL, LH, L, H, HL, LH and although no new fractal print will be caused by this weekly candle close a H will be created by any close above 2813. Price touched the Dly asc channel top at today's daily/weekly hi (2803) - which is in the zone to 2813 - a prev sw hi = pot res.

20/50/100 Ema's remain crossed up 5min - dly t/f's.

Desc trendlines have been breeched to the upside in this move up, on 4hr, daily and weekly, and the next one in view is a monthly that joins 7188 with 3515 and comes through on next week's weekly candle circa 3145-55, then another weekly that joins 4376 with 3515 and comes through on next week's weekly candle circa 3180-90.

The weekly and daily candle closes are bullish, ie bullish thrust candles (very small wicks relative to their bodies - indicative of strong bullish sentiment)

Potential support, and potential res becomes supp (rbs) to the downside is pretty obvious from the 1hr chart upwards. To the immediate upside I see the following potential resistance factors; (Monday's Dly pivots and next week's Wkly pivots shown.)

a. Prev 4hr/dly/wkly sw hi zone to 2813 (where the dly/wkly hi of 2803 met supply [@ 50% ext of y/day range] before the pullback and retest/close @ 2795.) with dly asc channel top on mon's daily candle circa 2810
b. 2827 Dly R1
c. 2858 Dly R2
d. 2893 50% 4376-1411 and Wkly R1
e. circa 2940-50 weekly asc channel top on next week's weekly candle, incl 2945 Dly R3
f. 2949-75 prev 4hr sw hi zone
g. 2991 Wkly R2
h. 3018 76.4% 3516-1411
i. 3032 Dly R4
j. 3049 Mthly R2

Just as a general point on supp/res - remember that all factors are potential only until proven - first time or again - at the hard right edge of the chart. Generally although not always, the more a supp/res gets hit the weaker it becomes because if it didn't price would never move very far ! In strong trends supp/res is more likely to yield to the trend but this is not to say that there are not hi-prob counter-trend trading opportunities available, but it is safer to view them as pullbacks until PA tells you different.

Given the daily and weekly closes in particular, the greater probability would seem that more upside is more likely than not at some point next week barring some unforeseen fundamental stuff that would improve present $ strength/weaken £ sterling. It's a whole new world out there and just like in the old world - anything can happen - on steroids. I wouldn't rule out a deeper pullback from this zone to 2813 sw hi though. As always, trade what you see not what you think should happen, or indeed that anyone else tells you will happen. No-one knows what is going to happen even if they think they do - it's all probabilities - that's all.

We are staying in the sun for at least another couple of weeks and after a 'quid pro quo' deal struck with wife - I will be trading from here - short sessions. Hope everyone had a good week.

Peace out.

Daily chart is shown below.

Couple of interesting articles that support a weak $ outlook;

http://www.bkassetmanagement.com/fea...ext-week_14557

https://www.bnnbloomberg.ca/u-s-econ...orse-1.1470052

We are breaking outta this range Y'all

Hey just came home now to
I closed my profits at mid afternoon
At this point i dont know where we going now
I think we might go down monday but lets see how it goes , from the my D chart

trading is not easy yet its not complicated and still not that simple but in all its not difficult if you control ur emotion and plan your trade...

Peace it was a full bull week and may continue till FOMC

A major resistance @1.28. Last week of the month. Possible retracement points 1.27/ 1.265.

Usdx gonna be green at fibonacci 1.618 the magic number on daily DXY

predicted does not important mate..
the important thing is..is it we take those trades?
great weekend..

ha ha..
busy others thing this weekend
next month will go for

Who is the bigest gold holder ? Someone is hedging