Cable Update (GBPUSD)

...strongly bullish 30min, 1hr, and 4hr (gmt + 2 candle) closes.

... right @ the top of that prev wkly minor sw lo zone = prev supp = pot sbr now @ current dly hi...also in a prev 4hr minor sw hi zone coexistent with a prev sw lo on same t/f, so pot res/sbr (prev minior sw's only though.)

4hr (schrunched up) below.

Sell - 1.3407

... a few of these around?

seems to be all in lala land today. What I noticed today after the 8am spike there wasn’t a correction drop before any trend is followed. It’s full on bull power!

Minimum December range of 250 pips attained at 1.3410... Average Weekly range 240 pips attained 1.3411... this is now extremely overbought. Bears can strike back any moment from here.

..into this prev 4hr minor sw lo x 2 zone = prev supp = pot sbr, extends to circa 3426.

There are repeating patterns of regular bearish div right now 5min - 1hr, and on dly, bearish hidden div which may stay good so long as price under that 3513 swing hi on that t/f.

dly below.

add sell limit - 1.3427

13450 is strong monthly resistance level.
Will be looking to sell from this area.
My monthly chart played well.

Here is daily

We also broke outside the box.

So broken 1.3409 as smooth as silk, next resistance 3500+, limit 3568.

testing the sky with minimum size

... top of 1hr rising wedge @ current dly hi as well as 23.6% 4249-3161 and one other fib, ie 38.2% 3893-3161...still in this prev 4hr minor sw lo zone x 2 = prev supp=pot sbr that extends to circa 3426. Just into another prev wkly sw lo wide zone = prev supp = pot sbr that started @ 3411 and extends to circa 3531 (for the dly trigger traders.)

99% 30day adr traveled so far today.

1hr below.

possible for 3 white soldier if daiily closed bullish

GU is the best, 30 pips from 3391 to 3421

tp = 1.3330

... there is a hi likelihood that Uk will announce further omicron tightening measures just after xmas, (a lockdown in all but name?) Actually the govt has done this already by spreading mixed messages/fear either deliberately or as an unintended consequence. Although, it's the tory backbenchers pulling the strings now since Boris's recent gaffes/weakness, so maybe not. Point is, this relentless £ bullishness may be capped by that?

EDIT: actually latest omicron data showing much less chance of hospitalization and severity of disease if contracted, may have diminished this likelihood markedly?

current level is Q3 low with Q3 opening at 347x

seems to me 3325 is resistance for today.
shorted. 3326 is stop.

good morning omicron is nothing (totally lie to ppl), don't be afraid for nothing, be afraid for do nothing.

God bless you if it goes south.

GU flying to 1.3475 resistance. Don't short yet.