Cable Update (GBPUSD)

Bones

Respect.

But they'll spike this line 1.2970-90 and you can bet your shirt on that.
Why???

Obviously resistance. Up.

Stop losses. . Up

Friday (you know....). Up

Retail..... . Ooops

Soooo??

Sell higher. Above 1.3020

I would like to share with you all a simple strategy that works excellent with GBPUSD as well as with all major currencies.
Very simple strategy and very easy as well.
Currently I also work on an automated system to manage all this.

https://www.forexfactory.com/thread/...o-trade-simple

Enjoy

hallooo guys

I live in -5GMT (i.e. CST) with London opens at 2 AM and NY at 7AM. What is the right way to trade cable, then?

Entered long for today, look like price will retest last highest before back to down side

Long 1.29532 tp 1.29674

Closed my long, too many option

With us being this close to 1.3 and a hard bounce off demand zone at 1.285, were probs gonna hit 1.3

The demand zone at 1.285 showed where the markets direction is up atleast for another few days because there are obviously buyers adding to their position at that price. They also defended 1.29 today pretty well.

Also the price action around the 1.27 level showed heavy accumulation of longs so we could go higher than 1.3

My guess is somewhere around 1.315 to maybe even 1.33.
All of this guesswork will be eliminated if tomorrow ends selling, then back down to 1.28
I do currently have a long position open with a TP of 1.3 but i might move it depending how price reacts at that level. If we blow through 1.3 we going a good amount higher IMO

look for buying opportunity today in gu.

Sometime in Frankfurt/london open.

1.293 ?

anywhere 2930 ...or 2920.

Risk level 2910/2905.

I expect 2970 and 3000 to break today.

IMO

your right, buying the dip, no news so it should be a sweet ride all the way back up.

LAST TIME when gu reached 1.3 area , it was so clear pa .
now it's so confusing

Back in short
Entry price: 1.29525
Stop loss: 30pips
Take profit: 70pips

set my tp to the min adr target , half of full adr range from daily open

Most MYFXBOOK and FF retailers are short

the drop is coming

Looks like the pair failed to break the 1.3 level ,the same level which would have changed the market sentiment from bears to bulls. On daily price action suggest that we are actually in corrective move and sooner we will see price continuing the original bear trend.