Cable Update (GBPUSD)

Quoting pipibrasci

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GBP Index likely to explode to the upside only if it breaks above the channel upwards!. I wont be surprised if it does this on Thursday likewise if it breaks support (dash line) the downside momentum will be huge! A descending triangle also seen within the channel (H12 GBP index). From the GBPUSD (chart) pair, 1.373 looks likely and overall structure (H12) on the GBPUSD pair looks bearish (descending triangle). Also LH, LH seen and a Head & Shoulder in play. So 1.371 / 1.370 is not far from reality if it (GBPindex) breaks below the support within...

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Quoting Headland

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... price has reached 61.8% 3857-3726, 50% 3892-3726 just above @ 3808. 76.4/61.8% of those moves respectively are up @ 3826/28 with Dly R1 in the middle of them.

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Quoting Theoak

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{quote} Going for it long in at 1.3810 and 1.3812 {image}

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Quoting Mr.Burger

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{quote} Mr.Homer simpson OnlineAddict, totally agree, for my 3th Typo (3rd) wave at 1.618 AB=CD, but we must first deal with the weekly pivot at 1.27 AB=CD anyway, potential for the sideway is quite possible considering that we are on the monthly pivot now {image} Edit : Typo

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Quoting Moty

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All out mf Daily r2 and weekly pivot at 1.38238 area {image}

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Quoting mysterio

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{quote} Yelp unfortunate drawdown but remain long, 1.38 is a shoe in, remain long about 5 pips in profit currently

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Quoting mysterio

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{quote} Scale out half the long now and leave the rest to breach the last significant high around 1.39 I realised after this entry that there was a high probability of 1.3730 being touched so the drawdown was a bit scary as my initial risk was around 12 pips {image}

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