Cable Update (GBPUSD)

Quoting Georginson

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{quote} That's now 162 pips bounce off the low of 1.2411... the expected bounce ought to be at least 680 pips but won't be in a straight line. Now the big questions are ✓Have we bottomed at 1.2411? ✓Can 1.2358 - 1.2250 be ruled out after a clean break of strong support of 1.2475 was cleanly broken yesterday? Failure of this bounce to break 1.2715 means price return to break 1.2358 - 1.2259 cannot be ruled out before final 1700 pips bounce to 1.41 will occur around December 2022... Trade with utmost caution, Cheers, George.

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Quoting fxmasterdxb

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{quote} I Tp”ed” the last three positions and will be reloading on retrace (which im expecting now) {image}

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Quoting Georginson

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{quote} That's now 162 pips bounce off the low of 1.2411... the expected bounce ought to be at least 680 pips but won't be in a straight line. Now the big questions are ✓Have we bottomed at 1.2411? ✓Can 1.2358 - 1.2250 be ruled out after a clean break of strong support of 1.2475 was cleanly broken yesterday? Failure of this bounce to break 1.2715 means price return to break 1.2358 - 1.2259 cannot be ruled out before final 1700 pips bounce to 1.41 will occur around December 2022... Trade with utmost caution, Cheers, George.

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Quoting RaHaG0D

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{quote} Most likely, the price will return to the range of 1.2400. It remains to be seen whether the price can cover the remaining distance and break the 1.2700 price. In this part, to reach some balance or re-demand in the range of 1.2300 changes the game. I think another return to the range 12400-12300 will make a good low for 14000-14300 The best option is to check better and use all opportunities without prejudice. {image}

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Quoting RaHaG0D

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{quote} However, the start of the rally was slightly delayed and it should be seen that this delay will compensate for the 1.27000 area and cause the failure of this area or the attractive area of 1.24000 will be demanded again

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Quoting Headland

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{quote} Thank you, it's all a lot clearer now! -------------------------------------------- 1hr/4hr below {image}

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Quoting MXMmo

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Now that the rally is started, where is the next potential long entry point?

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Quoting RaHaG0D

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{quote} Most likely, the price will return to the range of 1.2400. It remains to be seen whether the price can cover the remaining distance and break the 1.2700 price. In this part, to reach some balance or re-demand in the range of 1.2300 changes the game. I think another return to the range 12400-12300 will make a good low for 14000-14300 The best option is to check better and use all opportunities without prejudice. {image}

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Quoting Headland

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{quote} You make the assumption the rally will continue. It may do, it may not, none of us know, but under this assumption, the next entry long may be with some 5min+ bullish hidden div after a pullback. Be wary though, price has already traveled 141% of it's 30day adr.

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Quoting donfriday

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{quote} nice post

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Quoting Moty

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come on goldi {image}

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