Cable Update (GBPUSD)

We are half way through on the road to 1.39 from the 22/03 bottoms, so it will jump to that...

Let's see if this gets triggered.
Buy limit @ 1.38400, TP 1.39029

above 3825 is 3880 and then 3910 to be hit today.

For me only ( not for anybody else )

... A 59pip range all day yesterday! We have a 1hr range within a wider 4hr range as price has contracted - a sign that the market unsure of it's next move. Longer term trade traders will be pulling their collective hair out again, if they have any left lol! Meantime it's been a veritable feast for those on the shorter sub 1hr t/f's.

Over 2 weeks now in this 4017-3778 (circled in red) 4hr/dly range.

1hr then 4hr below.

1.38000 at leasy

Why not 1.40 then fire from there?

let's see how dx handle the daily pivot

My Buy area red rectangle
My Target 1.3938-1.3950
My SL 1.3770

For today only

G/M, early start for me. 1hr still ranging within the wider 2 week plus 4hr range 4017-3778. Looking bearish at the moment but who knows? Price currently challenging a prev 1hr swing lo zone = prev supp = potential supp. 1hr below.

... a downside break of that light blue zone shown on 1hr below at current level (prev 1hr sw lo zone) exposes the prev 1hr/4hr sw lo zone leading to y/day's 3817 lo...and then the prev 1hr/4hr/dly sw lo zone to last week's 3809 lo...under here and 3804-3778 is the prev 4hr/dly sw lo zone = prev supp=pot supp. The Dly pivots are pretty close together due to y/day's small pip range and Dly S2 runs thru these potential support zones @ 3793, as does Wkly S1 @ 3781. Dly S3 is @ 3769.

...strongly bearish 1hr (& 4hr [gmt+3 broker] ) close.. will this range finally break?

Bears have been struggling to break this 61.8 retracement for some time now.

It would be great to finally break off this nasty range. Today looks like it. Let's see how it goes

SS

... steepest 1hr desc t/line held...now challenging steepest 1hr asc t/line @ top of that prev 1hr/4hr sw lo to 3817.....1hr below.

EDIT: it is breached to the downside now, (just,) ..how much demand in this prev 1hr x 2/4hr x 2 sw lo zone to 3817,? 1st of the potential demand zones down to 3809 then 3778.

buy @3825, tp 3864

Price has established a resistance near 1.38700, which is been confirmed by 4 hr EMA 21 and once sustained it might dip to land near 1.3760/1.3720 zone where support is now been sighted.

... London fx desks start trading 0630am London time onwards (which is gmt at the moment,) - might shake it up a bit? Asian session has pretty much been a sell-off so far although hitting some support now. Uk jobs data at 0700am gmt - not usually a big mover but could be if surprises the market.

Price now challenging 1st upside potential obstacle 1hr+, a prev 1hr sw lo zone = prev supp = potential sbr.

Major UK data incoming in 49 minutes...

Green and maybe Cable goes green..

...more demand emerges in that zone to 3817 @ the 4hr asc t/line...1hr below.

Potential upside obstacles overhead.

EDIT: 15min close bullishly engulfs last 5 on that t/f.

Good Morning!
Go my wonderful bears and bring me the pips!

just took long at 1.383 tp 1.388