Cable Update (GBPUSD)

w/e analysis cont....

... adding to the case for more near-term downside as the greater probability are the 5 rejections of the prev 1hr sw hi zone to 2999 / prev 4hr sw hi zone to 3007. The 5th test on friday that resulted in friday's hi saw the move lower. 1hr shows this below. (ignore the daily pivots shown - they have not re-calculated for monday yet.)

Ok then let's roll

I think Gap Up at the Open.

Problem is Ninjatrader 8 doensn't show the charts history from around 3pm to midnight on that day.

Too bad

My view...

Here's my take on the GBPUSD. GBPUSD price action is operating within a rising channel (blue) on the daily time frame. After a retracement of the strong bearish move that began on September 2, 2020, price action is presently at the 1.29690 horizontal resistance area and about 97 pips above the channel support trendline. The area has seen sideways of price action since last week Thursday. Technically, market impulse favours bears and we may see a bearish turnaround. The 1.27230 area is the immediate horizontal support.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

I am a bear on GU. TP 1.266

14hours long workout just been DONE!!!, godam sunday workout with rain fall and cool down 30 degree ( in Texas normal temperature 100 )
a bit harder than hell.
anyway ive done it muhahahahahahhahaha

until 5 AM EST candle, after London open, selling is not profred in my view.

Good Morning Asia session traders.
GBPUSD short, new, @1.2930, target 1.2815, 1.2750.
I view the fall from Yearly high as impulsive, and the bounce from 1.2762 as corrective as it forms a rising-channel and hence a possible bearish flag.
1.30 zone serves as strong resistance, which was tested many times last Thu/Fri.
There is always possibility that price might continue correction until above 1.30. Will assess to add or close depending on structure.

evening all

Whats up y'all! Hope everyone had a good weekend! Expecting this week will be a very choppy or a strong push in one direction (if there is a push, it will be a strong pus up. Be ware everyone, trade safe!

sell stop: 1.2946
SL: 1.3010
TP: 1.2860
Disc: Stay a green, maybe wrong

first trade of the week

up move development

heading to 2890 first IMO.