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Cable Update (GBPUSD)

  • #673,221
  • Aug 3, 2022 9:41pm Aug 3, 2022 9:41pm
Quoting anandy1
Strong US data yesterday really butchered the bulls yesterday. Will BOE news reverse that today ?
With traders already widely expecting the BOE to finally increase the pace of tightening with a 50bps hike today, unless the central bank surprises markets with an even more aggressive decision, GBP's near-term direction will likely depend on forward guidance. If the BOE can establish explicit intent to bring down inflation, GBP/USD may be able to regain bullish momentum and potentially retest the upper trendline of its bearish channel.

Of course, if the they echo the relatively dovish tone recently struck by the Fed and RBA, or even elect to continue on their 25bps path at today's meeting, it will likely increase selling pressure on the Pound and expose this pair to a new leg lower.

All trading carries risk, but it will be very interesting to see what the meeting's outcome brings.
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  • #673,222
  • Aug 3, 2022 9:43pm Aug 3, 2022 9:43pm
Quoting tiborf71
{quote} tell me what you think is really behind the intraday commodity movement.
//----

inventory management.....h
to trade and code, keep both simple... no call to impress....h
  • #673,223
  • Aug 3, 2022 10:37pm Aug 3, 2022 10:37pm
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Trendlines H1,H4, SMC
  • #673,224
  • Aug 3, 2022 11:04pm Aug 3, 2022 11:04pm
Long gold tp 1786, Gbpusd short tp 1.20900
  • #673,225
  • Aug 3, 2022 11:35pm Aug 3, 2022 11:35pm
While watching for breakout channel and signal bear at 2062 there may a chance of range 2207 just + to 2099 - if bull try to survive at this top!! Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #673,226
  • Aug 3, 2022 11:53pm Aug 3, 2022 11:53pm
Quoting fontu
While watching for breakout channel and signal bear at 2062 there may a chance of range 2207 just + to 2099 - if bull try to survive at this top!! Take care {image}
I agree on the lower bound support being 2099, that's the 38.2% fib retracement of the recent bull run on GBP. I don't think GBP gets too much weaker because they too are going to take similar fiscal response as the Fed.
InspiredInvestments Return This Year: na
  • #673,227
  • Aug 4, 2022 12:01am Aug 4, 2022 12:01am
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yes yes yes
  • #673,228
  • Aug 4, 2022 12:27am Aug 4, 2022 12:27am
Quoting Moty
{image}{image}
waiting, still bullish
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  • #673,229
  • Aug 4, 2022 12:37am Aug 4, 2022 12:37am
Price is eventually going to go down, but in the meantime it is also possible that it may want to whip the range.
I have no bias at the moment given that price is floating the middle of the range and offering no direction.
  • #673,230
  • Aug 4, 2022 12:47am Aug 4, 2022 12:47am
Quoting CharltonF
{quote} I agree on the lower bound support being 2099, that's the 38.2% fib retracement of the recent bull run on GBP. I don't think GBP gets too much weaker because they too are going to take similar fiscal response as the Fed.
after target better it give a correction if to sustain the bull further perhaps . lets see what happen
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #673,231
  • Edited 1:15am Aug 4, 2022 1:00am | Edited 1:15am
switched to short
bearish ingulfing candle
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yes yes yes
  • #673,232
  • Aug 4, 2022 1:28am Aug 4, 2022 1:28am
Quoting Moty
switched to short bearish ingulfing candle {image}
You switch fast mate, im still holding sell from bottom
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10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #673,233
  • Aug 4, 2022 1:38am Aug 4, 2022 1:38am
Holding my longs from yesterday. But adding shorts to play the downside. China-Taiwan conflict adding lot of uncertainty to the market. I wonder why US wants to create tension when already Russia and Ukraine war impacting the economy so badly. Guess they want to keep Dollor strong.....If china attacks Taiwan then all the tech industry will collapse...
  • #673,234
  • Aug 4, 2022 1:41am Aug 4, 2022 1:41am
Gbpjpy long tp 163.700
  • #673,235
  • Aug 4, 2022 1:47am Aug 4, 2022 1:47am
Quoting Moty
{image}{image}
nice chart Moti.

Agreed
Intraday only.
  • #673,236
  • Aug 4, 2022 1:48am Aug 4, 2022 1:48am
Quoting GODofMC
{quote} You switch fast mate, im still holding sell from bottom {image}
Something smell fishy about this down
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #673,237
  • Aug 4, 2022 2:01am Aug 4, 2022 2:01am
Quoting GODofMC
{quote} Something smell fishy about this down
GU 30M Chart: That was Regular Move
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Intraday Trading is an Art _ hoda
  • #673,238
  • Aug 4, 2022 2:10am Aug 4, 2022 2:10am
Quoting hoda
{quote} GU 30M Chart: That was Regular Move {image}
Very nice chart hoda, clean, clear and easy to spot the action.
  • #673,239
  • Aug 4, 2022 2:20am Aug 4, 2022 2:20am
for news GBP today, i prefer layering sell now and it can go up to 100pip before it will go down.. let see if iam right..
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  • #673,240
  • Aug 4, 2022 2:20am Aug 4, 2022 2:20am
Shorting the LO spike a bit risky but i think before BoE 121-12130 is the long area especially as we didn’t see below 121 overnight
Insane in the Brain..
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