Cable Update (GBPUSD) | Page 30256 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #605,101
  • Jun 26, 2021 10:46am Jun 26, 2021 10:46am
What I am waiting for in the GBP USD are sales. If we look at the daily chart the trend is totally bearish, even now it seems that it is going to give the next impulse but...

Let's be serious, since when did they make it so easy for us in Forex?

It is true that the scenario presented is bearish (or at least, there is a high probability that it is), but I think they will create a bullish feeling before it collapses, and the retest may do so in that area. blue checked. Once it shows weakness in those levels in confluence with the trend line, if it can fall towards 1.3800.
Otherwise, if it were to break out of that blue zone and range in those prices, the scenario we could find would be totally different, a GBP USD with bullish force.
Even so, it is a personal opinion, afterwards the market is free to do what it wants!
Attached Image (click to enlarge)
Click to Enlarge Name: 836c3298b4f921ec6edba5c5f7e03923.png Size: 159 KB
  • #605,102
  • Jun 26, 2021 12:39pm Jun 26, 2021 12:39pm
Quoting BeeTogether
We finish before 13870 then it’s potentially party time next week


Attached Image
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #605,103
  • Jun 26, 2021 2:26pm Jun 26, 2021 2:26pm
Quoting ServerUang
{quote} still quite a profit boss... I open sell and even lose... jiancok this GU friend...
Saya suka wkwkw
Using Chaos to Finding Order
  • #605,104
  • Edited 1:46am Jun 27, 2021 12:22am | Edited 1:46am
GBPUSD recovery at risk:
https://www.dailyfx.com/forex/techni...nd-Levels.html
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #605,105
  • Jun 27, 2021 5:43am Jun 27, 2021 5:43am
The Health secretary resigning likely to have an impact on GBP?
  • #605,106
  • Jun 27, 2021 5:48am Jun 27, 2021 5:48am
Quoting igik
If someone is a fan of the Fibo channel, let them ... Everything goes as it should ... There is still plenty of space down ... {image}
There is volatility with this pair but I cannot see any real buying interest until 1.35 to 1.3480. Fundamentally the risk-on correlation with the US equities market is troubling as levels near record highs resume. Another warning is USD/CAD rebounding from the 1.20 area which in all probability signals the end of the USD downtrend this year. So technically negative and fundamentally as well.
Be humble or be humbled.
  • #605,107
  • Jun 27, 2021 6:51am Jun 27, 2021 6:51am
Quoting nAVIN2007
The Health secretary resigning likely to have an impact on GBP?
Breaking news...Classified Ministry of Defence documents found at bus stop...
https://www.bbc.com/news/uk-57624942
I am who I am
  • #605,108
  • Jun 27, 2021 7:53am Jun 27, 2021 7:53am
Quoting maheeee
{image}{image} waiting for 1.43000
So how is your setup? You said that friday was bullish?
How to succeed in zero sum game?
  • #605,109
  • Edited 9:34am Jun 27, 2021 8:01am | Edited 9:34am
Quoting imwim
{quote} Breaking news...Classified Ministry of Defence documents found at bus stop... https://www.bbc.com/news/uk-57624942

surely there has to be something happen with theses breaking news..Hancock spreading corona and all
His marriage has to be in real trouble now, seriously thou, how stupid can he be?
  • #605,110
  • Jun 27, 2021 8:05am Jun 27, 2021 8:05am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 43 KB
Fools Rushing
  • #605,111
  • Jun 27, 2021 8:36am Jun 27, 2021 8:36am
Quoting MTF Test
{image}
3865 is important support.

9 PM EST candle is the one, I am looking if 3865 can hold or not.
Intraday only.
  • #605,112
  • Jun 27, 2021 9:05am Jun 27, 2021 9:05am
Think probs up then down, cant see us going straight down from here but 1.38 is my intraday target, anything can happen etc
Attached Image (click to enlarge)
Click to Enlarge Name: sunday.jpg Size: 141 KB
  • #605,113
  • Jun 27, 2021 9:26am Jun 27, 2021 9:26am
Quoting mysterio
Think probs up then down, cant see us going straight down from here but 1.38 is my intraday target, anything can happen etc {image}
I’m with you on this probably up towards 13920-30 before testing 13850 areas
Insane in the Brain..
  • #605,114
  • Jun 27, 2021 9:49am Jun 27, 2021 9:49am
Quoting Wavegarrick
{quote} Anyway, Folks entered some more shorts. Retraces are sell opportunities for me. Trade safe. Cheers. {image}
Hi Guys,
I received some PMs with regards to prediction on price movement in the coming week. Well here's the thing, I can never for sure say what will happen but can only go on probabilities and act accordingly when price presents itself at given levels and look at candle closures, for me the 4hr candle is important. We have had a weekly candle close below 1.39000, so this is important in re-affirming my bearish bias. I will be looking for a test of my mid-round number at 1.38500 and a possible retrace back up to my future weekly pivot at 1.38851 ish ( pivots attract ) and overshoot to 1.39000. I will be looking for bearish signals here from a 4 hr perspective. 1.38000 is attainable and day traders will probably look for a target here.
Anything can happen in forex and I take it as it comes.
Trade safe and have a great week Folks.
Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1203.png Size: 100 KB
Trade to trade another day
  • #605,115
  • Edited 10:10am Jun 27, 2021 9:56am | Edited 10:10am
Quoting BeeTogether
{quote} I’m with you on this probably up towards 13920-30 before testing 13850 areas
Yes worth watching the PA carefully there. Worth noting there's an H1 wedge forming so if it hits the level you mentioned then it may want to break the highs I marked out and take the sellers stop losses. From there 1.3965-80 would give an even more premium sell. There is still a bit of a gap there albeit it doesn't necessarily have to fill the whole thing. Just something to think about in the range of scenarios that may occur. Its pointless trying to predict the entire path of price it's just areas to watch. I never do set and forgets because I have to see what's happening with price in the time leading up to the levels.
  • #605,116
  • Jun 27, 2021 9:56am Jun 27, 2021 9:56am
3896 is daily pivot.

3920 R1

3940 midpoint.

3960 R2

3857 S1

3845 midpoint.

3832 S2.

Then midpoint 3800.

PA is bearish. Decide your entries.

IMO.
Intraday only.
  • #605,117
  • Jun 27, 2021 10:33am Jun 27, 2021 10:33am
I wish to trade in the following manner :

After market open, buy.

After Tokyo open short.

After Frankfurt / London open buy.

After NY open...continue to buy.

The price levels, support / resistance will be checked.

Intraday only.
  • #605,118
  • Jun 27, 2021 11:01am Jun 27, 2021 11:01am
i dont know when it goes,but it goes.maybe need several days.
Attached Image
  • #605,119
  • Jun 27, 2021 11:15am Jun 27, 2021 11:15am
Quoting navk
I wish to trade in the following manner : After market open, buy. After Tokyo open short. After Frankfurt / London open buy. After NY open...continue to buy. The price levels, support / resistance will be checked.

im looking to go north as soon as market opens
Insane in the Brain..
  • #605,120
  • Edited 1:54pm Jun 27, 2021 1:38pm | Edited 1:54pm
Quoting Vincent1
{quote} As expected in the analysis of the past few weeks, the trend has turned bearish. The Rounding Top has been confirmed. The market absorbed all the buyers and we have the big red candle, as expected. In the next few days/weeks we must understand if the Double Top is also confirmed which can bring us below 1.31 Dow in his theory said: The Market Discounts Everything (It's been about 130 years ago and this still works. Do you understand the power of technical analysis?) The FOMC only confirmed the expectations of big investors who were buying USD, and closing short positions, since several weeks already. {image} As reported in recent weeks, the best strategy remains to only enter short waiting for bearish signals. At the moment, with this situation, a good area to enter short is between 1.4030 and 1.3940. The movements on Monday and Tuesday could create a structure for the retracement and better indicate a possible short entry point. {image} Area 1.4000. Since it has been a very strong resistance level in the past, it could have been a possible support (even if it has already been used once). The problem is that the market came at 1.4000 too strong at the close of the New York session, going long in those conditions was too risky. Given the Psychology of the levels, 1.4000 could come into play again as a resistance. We know the market tends to go where there is more money, at 1.4000 there could be long orders that believed in a bullish market reaction, so they want to close at BE. {image} On Thursday there will be the decisions of the BOE, they can be another opportunity for big movements {image} Have a wonderful weekend Green Pips
Not much has changed since last week on the Daily and Weekly TFs. The Rounding Top reversal pattern has done the job, and we are still waiting for the final confirmation of the double top on the Weekly.

On the Weekly the candle has formed an Inside Bar, a candle where the market takes time, rests after a strong move, waiting for the next strong move.
Attached Image

As expected 1.40 worked as a resistance. At this point on the Daily our references are 2:
- The support between 1.3740 / 1.3660, is the area where the last Double Bottom was formed, and where we will most likely find other Bulls ready to enter the market again, to try to push up the price.
As the trend has turned bearish, it's possible that the support will be broken a little bit, go below 1.3660 before we can see a retracement rise.
- 1.40 again. It is a very strong level, it is possible that we will see it again, it is a good entry point for the Bears. The return to 1.40 could see us break this week's high at 1.4001 a few pips before falling again. It is the ideal position where they can take some Stop Losses to fill their positions, before going down again. The possibility of reviewing 1.40 after the price touches the support below 1.37 should also be considered.

Also pay attention of small bounces below 1.3800
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD D.png Size: 42 KB


I would like to make a particular note of the COT Report

The period referred in Friday's COT Report is underlined in the yellow triangle. We know that the big move is the consequence of the FOMC, but that in reality big investors have been expecting it for weeks (hence the bearish patterns, remember: the power of technical analysis).
The Report brings us further confirmation that the direction of the coming weeks will be bearish.
Attached Image

Asset Managers (usually long-term investors who make money from trading) have been closing long positions since 4 weeks. A small increase in short positions just in the last week.
While the Dealers (usually contrarians, who use futures more for commercial reasons than for profit from trading) have opened many long positions only after the FOMC.
Attached Image (click to enlarge)
Click to Enlarge Name: COT.png Size: 75 KB

All this not only to confirm the bearish trend for the next few weeks, but also to make it clear that the bearish movement has already been forming in the market since several weeks. A good book of technical analysis, one of the old important ones still used in universities today, can make you understand well in advance what will happen and earn with tranding. Studying hard can bring great results. Following some pseudo Guru on the internet, paying for a Membership or giving money to others to manage them, will only lead you to waste money and time.

Study, study, study
1,785 traders viewing now