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Cable Update (GBPUSD)

  • #674,801
  • Aug 11, 2022 2:38am Aug 11, 2022 2:38am
take a beer
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  • #674,802
  • Aug 11, 2022 2:40am Aug 11, 2022 2:40am
tp is 1.22500 , i want to book some profit
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yes yes yes
  • #674,803
  • Aug 11, 2022 2:44am Aug 11, 2022 2:44am
UK GDP Outlook

Consensus:

GDP Growth Rate QoQ: BOE forecast -0.2% from 0.8%

GDP Growth Rate YoY: 2.8% from 8.7%
GDP 3-months Avg: -0.3% from 0.4%
NISER GDP Estimate: 0.2% from 0.2%

PMI:
Manufacturing: 52.2(July) from 52.8
Service: 52.6(July) from 54.3
Construction: 48.9(Aug) from 52.6(July)
Previous Quarter Avg Composite PMI: 50.27 (From 50.57)

Confidence:
Business Confidence: -21 from -34
Consumer Confidence: -41 from -41

Housing:
House Price Index MoM: -0.1% from 1.4%
HPI YoY: 11.8% from 12.5%

Possible Effects:

If somehow, GDP QoQ > -0.2% but below than 0, Moderately Bearish on the report for GBP, since -0.2% BOE forecast might have already been priced in a portion of it.
GDP QoQ > -0.2% but above 0, GBP will fly like a free eagle.
GDP QoQ < -0.2%, GBP will probably retest 1.200 level.

My View:
With the weakening numbers from every sectors/ indicators, that GDP QOQ will be less than forecasted -0.2%! Will probably see GU together with Titanic, deep in the Ocean (BOE 5 Quarters Recession forecast)

If anyone think otherwise, please do share your thought, would like to hear it, always happy to learn.
More time in the market, does not mean you trade better!
  • #674,804
  • Aug 11, 2022 2:50am Aug 11, 2022 2:50am
G/M, a move down in Asia with a double test of the bottom of a prev 1hr/4hr sw hi zone = prev res = pot rbs /area of 38.2% 2065-2276, and then up in early London. Will we get a follow thru to a new hi today? May depend on U.s PPi data later?

1hr below
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Trader with an Edge.
  • #674,805
  • Aug 11, 2022 2:55am Aug 11, 2022 2:55am
Seems we are stuck in some kind of range there seems to be a hefty level of support at 1220 area which if broken can open daily pivot. Can we go lower than 121? I doubt it but never say never. Could be some interesting data later today and the balls up aka the Uk economy data tomorrow. If as predicted is poor could open 119
Insane in the Brain..
  • #674,806
  • Aug 11, 2022 2:55am Aug 11, 2022 2:55am
Quoting Moty
tp is 1.22500 , i want to book some profit {image}
your predictions are very bold
Trendlines H1,H4, SMC
  • #674,807
  • Aug 11, 2022 3:02am Aug 11, 2022 3:02am
Quoting navk
I have sold. 2226. Stop 2250

i short 1.2225 sl 50 tp 50
MY OPINION NOT FINANCIAL ADVISE
  • #674,808
  • Aug 11, 2022 3:03am Aug 11, 2022 3:03am
Quoting Moty
tp is 1.22500 , i want to book some profit {image}
Nice, just beware of this, maybe just little corection, or may a signal to dump
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Itchy market, i want to enter but not dare
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #674,809
  • Aug 11, 2022 3:14am Aug 11, 2022 3:14am
Price moving up until US session at least I think.
  • #674,810
  • Aug 11, 2022 3:15am Aug 11, 2022 3:15am
Quoting Moty
bb stop indi is a very strong at the 15 m chart {image} {image}
Or maybe other way?
How to succeed in zero sum game?
  • #674,811
  • Aug 11, 2022 3:16am Aug 11, 2022 3:16am
Good Morning!
TP1 was reached during the Australian session.
GBPUSD, Bat on H1
Risk Management is of utmost importance!
  • #674,812
  • Aug 11, 2022 3:19am Aug 11, 2022 3:19am
Quoting donfriday
{quote} i short 1.2225 sl 50 tp 50
early
Trendlines H1,H4, SMC
  • #674,813
  • Aug 11, 2022 3:21am Aug 11, 2022 3:21am
Beautifull bulls trap im the making
People don't plan to lose. They lose because they don't plan.
  • #674,814
  • Aug 11, 2022 3:27am Aug 11, 2022 3:27am
Quoting josip
{quote} early

i am here to risk
MY OPINION NOT FINANCIAL ADVISE
  • #674,815
  • Aug 11, 2022 3:33am Aug 11, 2022 3:33am
... assuming the bulls can get past the potential upside obstacles below it, I think the heaviest supply may reside in the 2260-76 (y/day's hi,) - 93 area. The zone up to 2293 being a prev 1hr/4hr/dly sw hi zone = prev res = pot res.

1hr below
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Trader with an Edge.
  • #674,816
  • Edited 3:48am Aug 11, 2022 3:36am | Edited 3:48am
watching 2210/2199 signals to see if test and break previous low with short scalping ! little care at 2210 if want too strong bull !! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #674,817
  • Aug 11, 2022 3:38am Aug 11, 2022 3:38am
ok , all out
retrace is coming
100 $ profit booked still waiting to gain back another 120 $ from y's loss
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yes yes yes
  • #674,818
  • Aug 11, 2022 3:46am Aug 11, 2022 3:46am
...looking immediately above 2293 and a prev dly sw hi x 2 zone resides up to 2334, (that saw supply emerge @ said 2293.) 2 fibs run thru it, and Dly R1 which is @ 2306 (broker dependant.)

dly below
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Trader with an Edge.
  • #674,819
  • Aug 11, 2022 3:49am Aug 11, 2022 3:49am
Sold right at the tip of London's high. Hopefully we go blast off that Asia low and head to either 61.8% at 2145 or better still 78.6% at 2109. My broker is seeing my stats and asking me to join a contest. Lol...

It feels good to rip your broker off!
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  • #674,820
  • Aug 11, 2022 3:56am Aug 11, 2022 3:56am
Quoting ScalaFX
Beautifull bulls trap im the making
the bulls can never be trapped market will range and break higher
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