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Cable Update (GBPUSD)

  • #564,341
  • Dec 8, 2020 7:19am Dec 8, 2020 7:19am
Quoting fxmasterdxb
{quote} Looking good so far, waiting for daily close below 1.3285 for confirmation and to target few hundred pips
Agreement reached? Closed my short @ 1.3340
  • #564,342
  • Dec 8, 2020 7:19am Dec 8, 2020 7:19am
I was expecting a spike lol
  • #564,343
  • Dec 8, 2020 7:20am Dec 8, 2020 7:20am
Deal or no deal, 2900 will be hit. Maybe even this month.
Everyone can see the chart, but only a few can actually read it.
  • #564,344
  • Dec 8, 2020 7:20am Dec 8, 2020 7:20am
lol what a luck made 1104 in less than 1 min
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 7 KB
be patient
  • #564,345
  • Dec 8, 2020 7:20am Dec 8, 2020 7:20am
“
uk mp gove: We are delighted to announce an agreement in principle on all issues in the uk-eu withdrawal agreement joint committee.”
Que Sera
  • #564,346
  • Dec 8, 2020 7:23am Dec 8, 2020 7:23am
Always the same. GU lower => positive Brexit news.
And in this case the news is in fact positive. And gives hope for a deal in the end.
  • #564,347
  • Dec 8, 2020 7:24am Dec 8, 2020 7:24am
Quoting miedpreneur
{quote} yes but i see 1.3380 offering something..imo
waiting for this level to make decision.. am i go short or long.. not decide yet
Trade what you see, not what you think.. react and stay sharp..
  • #564,348
  • Dec 8, 2020 7:24am Dec 8, 2020 7:24am
Quoting fxmasterdxb
{quote} Agreement reached? Closed my short @ 1.3340
It's just an agreement re Ireland and law-breaking clauses in the legislation suggested by UK goverment.

But it was a big stumbling block.
  • #564,349
  • Dec 8, 2020 7:25am Dec 8, 2020 7:25am
EU Commission says Brexit talks could continue into 2021 http://reut.rs/3lXdxXc https://t.co/XZghdRl5g9
  • #564,350
  • Dec 8, 2020 7:26am Dec 8, 2020 7:26am
SELL
  • #564,351
  • Dec 8, 2020 7:27am Dec 8, 2020 7:27am
hitting 1.34 will be a nice sell shortterm anyone agree?
end of the month, u r already a winner
  • #564,352
  • Dec 8, 2020 7:27am Dec 8, 2020 7:27am
Quoting Steamroller
Progress = 1.338, stagnation = 1.330, bad news = 1.316. I will check at end of day to see if there is any truth in my numbers.

We just hit progress again. :-)

There should be a Brexit drinking game along these lines!
  • #564,353
  • Dec 8, 2020 7:31am Dec 8, 2020 7:31am
Everyone is time to sell. Can't broke 1.34 for such a good brexit news!
Damage
  • #564,354
  • Dec 8, 2020 7:35am Dec 8, 2020 7:35am
One good brexit news will followed by another bad brexit news. Keep repeating. So, I am pretty sure it is time to sell
Damage
  • #564,355
  • Dec 8, 2020 7:37am Dec 8, 2020 7:37am
Quoting abconqq7
Everyone is time to sell. Can't broke 1.34 for such a good brexit news!
i dont really see the great news here but anyhow. Classic algo misstrading of news.. should get down soon again..:
  • #564,356
  • Dec 8, 2020 7:39am Dec 8, 2020 7:39am
This kind of price action will probably continue. The idea I think is as follows.

Markets wants to sell. But it also knows retail is selling. Going lower straight means retail will benefit; and with the down targets way below in case of no deal (1.2? 1.14? lower?), can benefit A LOT. So spikes like the ones we saw today and yesterday will be deployed to take retail out of their leveraged positions.
  • #564,357
  • Dec 8, 2020 7:49am Dec 8, 2020 7:49am
Back at daily POC and bounced. Lock is the master if you want to learn.
  • #564,358
  • Dec 8, 2020 7:49am Dec 8, 2020 7:49am
market generated information at work:
Quoting Lock
{quote} {quote} {quote} .... Last week GB low 32975 Inside GB week high (a fundamental level as any action upside will search support upon it or upon Brexit low 3227) Take into serious consideration such levels as GB operators will surely do. Monitor for acceptation or rejection above and below each of them, giving more importance to those I underlined as possible targets above or below...
GB opened, spent some hours into balance then went down and stopped exactly at 32975. From there PreUS opened and using it as support rallied upside.
Ubi maior minor cessat
  • #564,359
  • Dec 8, 2020 7:53am Dec 8, 2020 7:53am
Something tells me to hold on to my shorts after the spike.
  • #564,360
  • Dec 8, 2020 7:54am Dec 8, 2020 7:54am
Quoting VM.
This kind of price action will probably continue. The idea I think is as follows. Markets wants to sell. But it also knows retail is selling. Going lower straight means retail will benefit; and with the down targets way below in case of no deal (1.2? 1.14? lower?), can benefit A LOT. So spikes like the ones we saw today and yesterday will be deployed to take retail out of their leveraged positions.
Not sure to be honest, 2nd daily attempt to go below 1.33 which has been rejected, if we close daily above 1.33 then most probably we are going for new highs (1.3660 to 1.3780)
EU is a different story, i think the high is reached and maximum maybe we re-test previous highs
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