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Cable Update (GBPUSD)

  • #668,601
  • Jul 11, 2022 10:06am Jul 11, 2022 10:06am
from a trend line point of view, weekly S1 is sitting on a significant support, so for today price may go sideways
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  • #668,602
  • Jul 11, 2022 10:09am Jul 11, 2022 10:09am
Quoting _BBKing_
A good target in GBP USD is between 1.680 and 1.720 I am targeting there atm. Will cut my position in case of signs of reversal. Example: price shooting back above 1.193 also have 1/3 position targeting 1.1270 and a scalp targeting 1.1840 {image}
_BBKing_, a similar point of view...
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Always trade your own plan...I don't provide trading signals.
  • #668,603
  • Jul 11, 2022 10:10am Jul 11, 2022 10:10am
Quoting PatienceFx
from a trend line point of view, weekly S1 is sitting on a significant support, so for today price may go sideways {image}
lets see what cooks tomorrow
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  • #668,604
  • Jul 11, 2022 10:10am Jul 11, 2022 10:10am
Quoting eyefeelsix
{quote} my apologies missed your question about w4 in terms of time.. if w2 is complex ( red color purple ) then w4 will be simple ( won't be too long ) edit : add text link here is another reasons how to solve w4: https://www.forexfactory.com/thread/...6#post14058746
i know that rule, maybe im wrong.
  • #668,605
  • Jul 11, 2022 10:18am Jul 11, 2022 10:18am
Do you really believe the USD will beat it in the next few years?
I wish a dollar would get you more, but I don't see it getting stronger over time.

Due to the FED res increase the int rates, USD is getting stronger against a basket of currencies including Swiss Franc, Euro, GBP, JPY.

Both Oil and US Dollar can not go higher hand in hand together at the same time! one has to collapse to help other one go higher! it seems Oil price trend is downward and so USD is still getting stronger for now!

While the USD has been getting stronger against other currencies, which is to be expected considering its the only safe haven for now, it is reaching a tipping point and as expected will begin dropping as the bear market ends.
My other option is to look at CHF as safe heaven.

We have inflation now - due to supply chain issue, bad govt policy, and monopoly pricing.
There is a global USD shortage that is why the DXY (US dollar index) is getting stronger.
Everything happening today was all a part of Davos Plan.

Diminishing the purchasing power of USD in relative terms..that's why commodities r rising while #DXY getting stronger .

Catch 22 situation
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,606
  • Jul 11, 2022 10:22am Jul 11, 2022 10:22am
Quoting Pat Chiko
Do you really believe the USD will beat it in the next few years? I wish a dollar would get you more, but I don't see it getting stronger over time. Due to the FED res increase the int rates, USD is getting stronger against a basket of currencies including Swiss Franc, Euro, GBP, JPY. Both Oil and US Dollar can not go higher hand in hand together at the same time! one has to collapse to help other one go higher! it seems Oil price trend is downward and so USD is still getting stronger for now! While the USD has been getting stronger against other...

  1. China is buying oil from Russia in Yuan [ Chinese currency ]
  2. India is shifting to green hydrogen

2 najor economies shifting away from usd backed oil.

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  • #668,607
  • Jul 11, 2022 10:23am Jul 11, 2022 10:23am
Can a native speaker of English please explained what is meant by

The market has about a 1-in-5 chance instead of 75 instead of 50 bp currently discounted.
More time in the market, does not mean you trade better!
  • #668,608
  • Jul 11, 2022 10:25am Jul 11, 2022 10:25am
Quoting PatienceFx
my journey continues {image}
Same as mine
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  • #668,609
  • Jul 11, 2022 10:26am Jul 11, 2022 10:26am
Quoting Fardeen1209
Can a native speaker of English please explained what is meant by The market has about a 1-in-5 chance instead of 75 instead of 50 bp currently discounted.
No sorry
  • #668,610
  • Jul 11, 2022 10:27am Jul 11, 2022 10:27am
Quoting Fardeen1209
Can a native speaker of English please explained what is meant by The market has about a 1-in-5 chance instead of 75 instead of 50 bp currently discounted.
salaam bhai, 1 in 5 means 20% chance
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  • #668,611
  • Jul 11, 2022 10:31am Jul 11, 2022 10:31am
Quoting Pat Chiko
Do you really believe the USD will beat it in the next few years? I wish a dollar would get you more, but I don't see it getting stronger over time. Due to the FED res increase the int rates, USD is getting stronger against a basket of currencies including Swiss Franc, Euro, GBP, JPY. Both Oil and US Dollar can not go higher hand in hand together at the same time! one has to collapse to help other one go higher! it seems Oil price trend is downward and so USD is still getting stronger for now! While the USD has been getting stronger against other...
Nope everything has to change.
Oil shortage will come to an end, irrespective whether G7 banned Russia, the world need Russian Oil.
Lockdown will come to an end in China.
Overall Inflation will start to drop, leading to FED reducing rate. This might be enough to reduce the demand pressure for USD.
More time in the market, does not mean you trade better!
  • #668,612
  • Jul 11, 2022 10:33am Jul 11, 2022 10:33am
Quoting Fardeen1209
{quote} Nope everything has to change. Oil shortage will come to an end, irrespective whether G7 banned Russia, the world need Russian Oil. Lockdown will come to an end in China. Overall Inflation will start to drop, leading to FED reducing rate. This might be enough to reduce the demand pressure for USD.
correct
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  • #668,613
  • Jul 11, 2022 10:33am Jul 11, 2022 10:33am
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The Average Discount Everything
  • #668,614
  • Jul 11, 2022 10:34am Jul 11, 2022 10:34am
UK GDP data may push cable north on `wednesday, then drop on us cpi data
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  • #668,615
  • Jul 11, 2022 10:34am Jul 11, 2022 10:34am
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yes yes yes
  • #668,616
  • Jul 11, 2022 10:35am Jul 11, 2022 10:35am
Quoting openyoureyes
{quote} any particular reason for bounce while trend says otherwise? {image} renko90 {image}
update - renko 90
target 1: 1.80
target 2: 1.60
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3Day
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  • #668,617
  • Jul 11, 2022 10:36am Jul 11, 2022 10:36am
Quoting PatienceFx
{quote} salaam bhai, 1 in 5 means 20% chance
Wasalaam bro, the 20% chance is understandable, but what got me pondering for at least 4mins is what comes after the 1/5 chance.
will it be 75bps hike or 50bps hike in july.
the overall sentiments favored 75bps
More time in the market, does not mean you trade better!
  • #668,618
  • Jul 11, 2022 10:37am Jul 11, 2022 10:37am
END of downtrend for GBPUSD.
  • #668,619
  • Edited 10:54am Jul 11, 2022 10:41am | Edited 10:54am
Quoting lengendff
END of downtrend for GBPUSD.
still too early to say that
no price action confirmation yet.

wait for candle close before reaching conclusion:
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for 1hr confirmation for reversal:
- break 1.191 * (50% of bearish bar)
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  • #668,620
  • Jul 11, 2022 10:41am Jul 11, 2022 10:41am
Quoting lengendff
END of downtrend for GBPUSD.
lets see it might just be a breather before further drops
Insane in the Brain..
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