Cable Update (GBPUSD)

...Just speculating here, I've got some 'lockdown' time on my hands lol!....when that 3759 hi was formed on Weds 27th Jan, what became the prev 1hr then 4hr then dly sw (swing) hi zone= prev res = pot (potential) res was tested 3 times by price each time @ a higher point in it (on the thurs, fri, then mon.) Price encountered more supply each time, sending it lower, before the upside break through it to the last 3866 uptrend hi on the following mon 8th Feb. Now look @ 1hr, that now prev 1hr/4hr sw hi zone to 3866 has again been tested 3 times and each time @ a higher point in it....will history repeat on the 1hr now? will there be an upside break?

1hr shows this below. The preceeding 4hr example is below that.

still playing wave 5, bullish bat to complete mid Q1 which hits this week, will be fast ... and will end the 13.5 week cycle, next 13.5 weeker takes us to july 1st

gettoefl, yes...I keep an eye on this bearish crab pattern for the last two months...drop after the ending diagonal may be sharp...
https://www.forexfactory.com/thread/...9#post13317669

I am expecting DXY to go upto 92 and therefore anticipate cable going down upto 1.35 or even 1.345 level.
Although if the week starts with USD going down, then we can first expect the cable to hit 1.4 before any further retracing.
Also I am anticipating EURUSD in a short term newt week to go down which would favor Cable going up.

Can you please tell me how you concluded this analysis.
One of the reply saying that it will shoot upwards but your prediction is reverse

i hope you guys wisely spend your weekend, my take on GU this comming week is still bullish i see no heavy news on calendar to reverse the price, i might visit near 1,40 to tease everyone before going down for retrace price 1.35

Early trading looking good for cable

The bullish tone on the GBPUSD market is waning. On the daily time frame, price action is consolidating in a symmetrical triangle (blue), crisscrossing the resistance trendline of a rising wedge (red) seen on the weekly time frame. Presently, it is at the triangle resistance area and the last three candlestick prints are mixed. Any further decline in bullish momentum in the early part if this week may incentivize bears to effect a southward pull.

I may be wrong. Trade safe and prosper.

KP

Do your homework, follow the footprints of smart money.

Where is the smart money gone when 02-feb-2021 COT was Bearish on EURUSD and weekly Candle closed Bullish??

Hi Traders

My view on GBP/USD

H1 View (Neutral)

Conflicting technical signals are indicating towards an unstable market, cautioning us to remain neutral and wait for a stronger trend to develop.

Support Resistance
1.38583 1.38650
1.38197 1.39076
1.37748 1.39911

H4 View (Neutral)

The market is dominated by uncertainty. The occasionally prevailing trend lasts for a limited time and changes its direction too frequently. As long as the market remains unstable, we stay aside, waiting for the market to get back on track.

Support Resistance
1.37748 1.38650
1.37567 1.39182
1.36293 1.40084

Daily View (Bullish)

Waiting for a retracement lower towards the 1.37027 support level, in order to reinstate LONG positions. Next important support is the 1.36234 level..

Support Resistance
1.37027 1.38650
1.36234 1.41053
1.35378 1.45180

Weekly View (Bullish)

Waiting for a retracement lower towards the 1.34812 support level, in order to reinstate LONG positions. Next important support is the 1.30112 level.

Support Resistance
1.34812 1.39573
1.30112 1.47642
1.26743 1.60794

I have currently 4 Trading ideas however

On the monthly
Currently + 360 Pips

On the 8 Hour chart
Currently + 108 Pips

On the 3 Hour chart
Recently Active

On the 10 minute chart
I have an idea, however i will not enter this trade

The city won't bend for the EU for equivalence ,London will remain No 2 financial centre in the world ,on so many reasons.The other week they basically said F you to the EU.

eu can't move London they crack me up
its going to cost them ,

GU killed ;/

Must reverse before 3970

You expect it to reach that level?

I have no idea. for today i think that maximum price it can go.. but if she want to go more higher. probably retrace before that level and going up again.

Anyone expected GU to hit 1.39 so soon? Jump from 1.38 to 1.39 has been very quick