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Cable Update (GBPUSD)

  • #670,481
  • Jul 19, 2022 4:56pm Jul 19, 2022 4:56pm
GU LONG
TP 1.20895
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  • #670,482
  • Jul 19, 2022 5:04pm Jul 19, 2022 5:04pm
Quoting TheWolf
{quote} It all depends on CPI number tommorow. However, based on my Daily chart we are still far away from trend reversal, however I do have a signal telling me that tommorow's candle will be GREEN. Let's see what the market will do in Sydney and Tokyo session. Might give us some clue. This whole 2 weeks will be crucial in my opinion.

Hi Wolf, I was at the outdoor cinema, waching old classic movie . Nice evening.

GBP CPI tomorrow,
9.1% in June, estimated 9.3%. I would be glad to see July same as June, or lower, not much is happening this month. BoE trying the best to lower the numbers. If figure is lower, good news for GU. Will be interesting to find out.

So far weekly made HH and lower low is up by +100, daily building a nice round swing up.
  • #670,483
  • Jul 19, 2022 5:29pm Jul 19, 2022 5:29pm
Eurusd about to break out to the upside....
Take a position
possible tp: 1.04097
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  • #670,484
  • Jul 19, 2022 7:12pm Jul 19, 2022 7:12pm
Quoting ScalaFX
{quote} im holding my longs further, hoping for 2100 where I will be closing all
took profit at 1.20147
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yes yes yes
  • #670,485
  • Jul 19, 2022 7:43pm Jul 19, 2022 7:43pm
Both US30 and UK100(FTSE) are trending up ~3%
More time in the market, does not mean you trade better!
  • #670,486
  • Jul 19, 2022 7:58pm Jul 19, 2022 7:58pm
Quoting Jolita
{quote} Hi Wolf, I was at the outdoor cinema, waching old classic movie . Nice evening. GBP CPI tomorrow, 9.1% in June, estimated 9.3%. I would be glad to see July same as June, or lower, not much is happening this month. BoE trying the best to lower the numbers. If figure is lower, good news for GU. Will be interesting to find out. So far weekly made HH and lower low is up by +100, daily building a nice round swing up.
Haha nice . Glad to see some of you people enjoying life! Hope it was as interesting as trading GBP/USD .

Yeah, as stated, I did get a signal on Daily chart that we should be seeing green candles tommorow, but of course, the news will determine the price in the end.
So far in Tokyo session , at least for now, we are not seeing much price movement and I don't expect any until the news come out.

Well, I would suggest traders to get some rest, because tommorow we will might have to be at the screen the whole day .
Tommorow's (actually, today's) possible High or Low, at least in my opinion..

Also, I don't understand something. let's say the number that come's out tommorow is 9.2% which is less than forecasted (so not as bad), however it is worse than last time 9.1%. What would that mean for Pound, good or bad news? These are the things I don't quite fully understand yet and of course there are banks which can interpret the news any way they want in the end. It just seems that trading on the fundamentals alone.. well, might as well just flip a coin. What is your take on this matter?
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  • #670,487
  • Edited 8:31pm Jul 19, 2022 8:11pm | Edited 8:31pm
2032 seems to have offered resistance.

Took short. Stop 2045
Intraday only.
  • #670,488
  • Jul 19, 2022 8:14pm Jul 19, 2022 8:14pm
Quoting navk
1932 seems to have offered resistance. Took short. Stop 1945
Do u mean 1932 or 2032?
  • #670,489
  • Jul 19, 2022 8:21pm Jul 19, 2022 8:21pm
Quoting Reverso
It's been 2 full forex weeks for July, time for a new long term pivot for the 2nd half of the year. In the ACD book I read (by Mark Fisher), a 2-week pivot on January will last for 1st half of the year, and need to use a new 2-week pivot when comes to July. The said upper and lower end of the pivot range are 1.19624 & 1.18985 . As long as price stay above the current 2-week pivot, uptrend is assumed, yesterday's trade was a winner, SL 1.18988 & TP 1.20248, risk 1% for 1.5% reward. Current ongoing trade entered a few hours ago, still running. SL...
I always calculate the daily pivot in advance before London opens, so i know what to expect, i only trade after London opens.

Pivot range is 1.19854 and 1.19905. Coincidentally the pivot range happened to be the low of yesterday, feels magical isn't it?

As long as price remain above 2 week pivot and daily pivot, the ongoing trade will still go on, until it eventually hit tp. Bias is bullish.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 56.8%
  • #670,490
  • Jul 19, 2022 8:26pm Jul 19, 2022 8:26pm
Quoting Pat Chiko
{quote} GU Long .......copy Moty {image}
GU

Scalping position update.
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For today (Wed) catalyst for the GBP/USD price will be the UK consumer and producer inflation data later.
With energy prices rising, and with the labor market being extremely, expect that inflation rose to high of 9.1%.

Excluding the volatile food and energy prices, that inflation slipped from 5.9% to 5.8%.
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Looking at price breaking high this pair will likely keep rising as bulls target the important resistance level at 1.2160. ( target 2 in the chrt)

With producer price index (PPI) input rose from 22.1% to 23.2% while PPI output rose from 15.7% to 16%.
Most likely, the BOE will likely deliver a giant 0.50% rate hike in August.

Go Bull go.........
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #670,491
  • Jul 19, 2022 8:29pm Jul 19, 2022 8:29pm
Quoting donfriday
{quote} my view {image}
You may be right.
  • #670,492
  • Jul 19, 2022 8:30pm Jul 19, 2022 8:30pm
Quoting KlifeFx
{quote} Do u mean 1932 or 2032?
2032. and 2045.

error corrected
Intraday only.
  • #670,493
  • Jul 19, 2022 8:31pm Jul 19, 2022 8:31pm
Price sitll needs to breaks highs to confirm bullish solid structure. Moment of truth tonight!
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  • #670,494
  • Jul 19, 2022 9:08pm Jul 19, 2022 9:08pm
Quoting Pat Chiko
{quote} GU Scalping position update.{image} For today (Wed) catalyst for the GBP/USD price will be the UK consumer and producer inflation data later. With energy prices rising, and with the labor market being extremely, expect that inflation rose to high of 9.1%. Excluding the volatile food and energy prices, that inflation slipped from 5.9% to 5.8%. {image} Looking at price breaking high this pair will likely keep rising as bulls target the important resistance level at 1.2160. ( target 2 in the chrt) With producer price index (PPI) input rose...
Can we see a double digits figures today for UK CPI?
More time in the market, does not mean you trade better!
  • #670,495
  • Jul 19, 2022 9:24pm Jul 19, 2022 9:24pm
Quoting navk
{quote} 2032. and 2045. error corrected
does not look too good for my shorts.

Out with small loss.

There would be short today, and i would take it once confirmed in smaller tf
Intraday only.
  • #670,496
  • Jul 19, 2022 9:26pm Jul 19, 2022 9:26pm
Quoting Fardeen1209
{quote} Can we see a double digits figures today for UK CPI?
Seriously doubt it. Based on the history of forecasts (by only 0.2%), more often than not the forecasted number is really, really close to the actual with the deviation of -/+ 0.1 or 0.2 at most, very, very rarely 0.3. The worst case scenario would be 9.6% and the best 9.0%. This is based on history, however we can never fully know what will happen, can we?
  • #670,497
  • Jul 19, 2022 9:44pm Jul 19, 2022 9:44pm
Quoting navk
{quote} does not look too good for my shorts. Out with small loss. There would be short today, and i would take it once confirmed in smaller tf
uk cpi to bang 1.21 in 75 minutes
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  • #670,498
  • Jul 19, 2022 9:51pm Jul 19, 2022 9:51pm
Quoting navk
{quote} does not look too good for my shorts. Out with small loss. There would be short today, and i would take it once confirmed in smaller tf
around which area
  • #670,499
  • Jul 19, 2022 10:01pm Jul 19, 2022 10:01pm
Quoting shakmoney
{quote} around which area
well usually shorts are worn in legs, but this can be tried
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  • #670,500
  • Jul 19, 2022 10:02pm Jul 19, 2022 10:02pm
Quoting Fardeen1209
{quote} Can we see a double digits figures today for UK CPI?


Britain still has one of the highest CPI growth rates among the major economies.
The BOE’s policy of steadily increasing the interest rate has been met with steadily increasing inflation

There have been voices calling for a more aggressive stance within the BOE
We expect the BoE to stay hawkish and to hike 50bp on August 4th.
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June UK inflation is projected to tick higher to 9.2% from 9.1% in the prior month, another multi-decade high.
But the BOE pays more attention to the core rate, which discounts the effects of fuel and food prices.
That is expected to slow a bit to 5.8% from 5.9% prior.


Technically, the cable has established above the psychological resistance of 1.2000.
a firmer rebound below the psychological support of 1.2000 in early Tokyo.

Perhaps once the political uncertainty is over, the BOE and No 10 will find it easier to reach a consensus.
Meanwhile, uncertain by BOE is waiting who occupy 10, Downing.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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