Cable Update (GBPUSD)

Exactly this looks so majestic! I love pet cats too though they are moody little marshmallows

Sue Gray will shortly release Boris's party statement.

Dollar gained strenght this week.
Strange and orchestraded market behaviour.
Inflation worries forgotten!? Employment back on track!?
How brilliant everything turned out to be after last FOMC statement
Something not right.

Commodity sensitive currencies, Gold breaking supports.
US treasury bonds rising, bond purchase set date beeing mid Feb.

How long this will last?

Wow Nice Photo

thanks oga mi
base on my membership status i cant PM right now but will sure get across immediately it lifted
will do just as you said
thank you

Stocks on the retrace

A curious projection below

USD approaching a lot of congestion

Bulls failed to show up. My buy stop failed to trigger.

Price close with HH HL pattern on H4 we might see some movement to test decider 1.35000 area if rejected we can sell it. If break it. We ready to new month of rally

monthly view:

found a top @150% of month, then made a full cycle(monthly) to 50% of month = monthly HL



daily view:

HL with a divergence



weekly 1% view:

day MA sideway, starting HH-HL(6H reading)




cheers,

You need to attach a time frame to that.

That's serious. An evening star on the daily? Hmm... if it works like it should the EU sellers should be careful, EU being about 50% of the DXY currency basket.

I added the last candle ,
So I thought about it and its data next week which must turn red
expectations revolving around chat put us there ,lets see the real life data if thats ever implemented or more can kicking comes in

most it can do is hit the rising line imo ,its not a huge trend of 6 years actually

*war can change everything

markets waiting for data imo
I used ig daily cause its so funky ,thats a over 1k pip wick

We are only half way throught descending channel. [D1 view]

Did you happen to switch to MN2 (OK, likely you have no MN2 chart so use MN1)? You can see your D1 channel is simply the MN1(MN2) down swing. And that down swing is a pullback to MN8 (maybe even MN16). So, the TF of interest is W2: IF the MN2 down swing has completed, then the current W2 up swing can be the start of the MN2 up continuation.

The W1 has made a swing high and a substantial down bar. But this has not turned down W2, the TF of interest. So there is no confirmation of which way the W2 is going until there is a breakout from the W1 up swing.

In the mean time, that ~600 pip range of the W1 up swing leaves a lot of room for trading in both directions. There are about 220 pips down from the current close and about 360 up.

more to care still for any good trade, yes there craziness in the market and must have some hidden reason behind , a bottoming effects possible arounds ! lets see how it develop by next 2/3 weeks !

A > 13wk awr week, but sub 30day adr consolidatory/rangy friday just closed. Mth so far (with 1 trading day left,) @ 91% of 6mth amr, and what could turn out to be a dragonfly doji/pinbar mthly candle close with any more upside on Monday.

* Mthly has printed a HH @ last yr's 4249 hi then a L, LL and what might be a 2nd LL with this mth's candle close. Caution though - these are very minor swings on that t/f and no LH has been printed yet so it is hard to see what trend direction the t/f is in, if any.
* Wkly is still in a downtrend with 4 consecutive LH's and 2 consec LL's. It is in a broadening descending channel. A solidly bearish wily candle close.
* Dly starting at the 3749 has printed a HH, HL, LH, L, LH, and LL @ last week's 3359 lo so it is really in a downtrend, fractally speaking. A bullish bodied inverted hammer type dly close on friday.
* 4Hr is in a downtrend by the same measure, and in a pretty equidistant descending channel at the moment. Last 4hr close (gmt +2) candle was a bullish bodied hammer type candle.

Price has pulled back by over 61.8% of the recent 3161-3749 rise ansd @ the 3359 pullback lo of that move has found support in the prev 4hr/dly sw hi zone = prev res = pot rbs from Dec'21 that on the dly extends down to circa 3324. This has resulted in a prev 1hr x3/4hr x2/minor dly sw lo zone = prev supp=pot supp now.

Remember - anything can happen, trade what you see, not what you think should happen, or worse - what others' think will/should happen. No one knows what will happen re future price discovery with 100% certainty over any future time period, no matter how confidently they may express the view. (Not getting at anyone in particular here, just keeping it real.)

Mthly, Wkly, Dly & 4Hr below.

GBP forecasts. Trade safe.