Cable Update (GBPUSD)

From a bullish psychological area perspective I’d like to see GU finish well above 118 and preferably near 11850

Nice chart like always but... I dont see price in this low areas, monthly, weekly and daily divs and levels tells me one, I need to buy now for 1.27-1.28 soon, maybe Im wrong but price is now at super discount area, of course we can see stop loss hunting maybe to new low of the year but this will be strongly rejected imidietly, trade safe folks and happy weekend!

At the same time, FOMC members do not cease to assure the markets that they must and (even more importantly) are ready to do more to curb inflation. It is also worth taking seriously the assurances that the Fed should avoid a surge in inflation expectations, which should be perceived as a mood not to lower the rate for quite a long time.
It is also important to understand that dollar bulls were able to reload their guns, but did not allow the technical picture of the dollar's growth to be broken. GBPUSD is stuck in resistance in the form of a 50-day moving average. The former support became resistance, and the recovery lost momentum at 76.4% of the amplitude of the decline in February-July. For GU, fixing below 1.18 looks like a matter of the next few days. In previous years, a 20% increase in the dollar for 12 months forced the attention of the US Treasury or the Fed, and they tried to stop the unilateral strengthening of the currency. But the rising dollar is now suppressing commodity and import prices, bringing inflation back to normal, doing some of the work instead of the Fed.

Eurgbp long tp 0.85100

Closed eurgbp long and have gone short

ScalaFX, I only identify possible scenarios for the next week. If the low @1.1759 doesn't hold, we should take into consideration the possible continuation to the downside into the WRE zone. Today, GU reached 200% ext. of the prior week's range so next week can be similar. I'm not saying it will happen for sure, but it's Friday afternoon, so I allow myself to fantasize about what can happen next week.

We are on same setup

Continue to remain short gold next target 1739

Anyway Folks.
I cannot say that I have been successful in my trading in the last couple of months.. I have probably F%cked up, but hey, this is the nature of trading. I have protected my trades and come out with minimal profits/losses but also lost out on some good profits. I got into some some sell trades but not something I like to promote in this area. From past experience price can shoot up 500 pips in a mo around here. We also have the 20th to month end which could be a changer. My monthly pivot at 1.20614.
There will be better days for sure.
Trade safe Folks.

Good you only fantasize so you dont take this seriuosly for real, yes, everything think can happen in this shity days but Im hoping for GBP to recover some and for weakning od the dollar after holidays till end of year, thanks for this views, cheers!

Closed all positions off to shower and bed.Market too slow

ScalaFX, I'm dead serious about WRE. It's my guide for the week, but I trade off STF (30/5 M charts combo). Watch the DX chart. There is always a hint there.

A > 30day adr day (113%/144pips) and a 356pips /129%of 13wk awr trading week just closed. So far this month 92%/501pips of the 6mth amr has been traveled by price.

* Mthly No candle close obviously but just wanted to look at the perilous state of the last mth's pinbar buyers who are long but probably still within their stops - most of which will be under 1759 the lo of the candle and current yrly lo. Like May's pinbar it currently looks like it might fail but price at the current lo of this mth's candle (1792) is again inside the prev sw lo zone that extends down to 1410 on that t/f so who knows? The t/f closes the week in it's general downtrend
* Wkly We have seen a downside follow thru on the tweezer top produced by close of last week's candle, and this was the 9th consecutive LH in it's current classic part of it's overall downtrend. The wkly candle closes bearishly, and it's 1792 lo is in that prev 1hr/4hr/dly/wkly sw lo zone that extends down to the that 1759 current yrly lo, just shy of the wkly asc t/line that joins 1410 with that level. Should this 1759 level be breached to the downside it will be a 4th consecutive LL on this t/f, when it forms fractally.
* Dly This t/f ended last week either ranging, after printing a L then LH after the 2295 HH, or in a damaged uptrend, but this week closed has gone on to print a LL, and a 2nd consecutive LH, and what, when it forms fractally, will be a 2nd consecutive LL. Today's (Friday) candle closes bearishly on this t/f, the 3rd consecutively to do so and it's lo, like the weekly's, is in the same place. So this t/f too might be said to have rejoined the higher t/f downtrends?
* 4Hr This t/f (Like the 1Hr below it) ends the week in a general downtrend with a strong virtually vertical leg down in it today (Friday.) There is a hammer (bearish bodied) and what is then an inside bullish bodied doji pinbar as the last 2 x candle closes on this t/f (gmt+3 price feed.) A new ascending t/line joins the 1759 current yrly lo with the 1792 wkly lo, on this t/f.
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It is currently looking very bearish overall but the lo of the week found support in the dly/wkly parts of that prev 1hr/4hr/dly/wkly sw lo zone that extends down to 1759, and there is a repeating pattern of regular bullish divergence pattern in the 1Hr oscillators with 4hr at o/s levels @ the 1792 Friday/wkly lo. So, maybe some hope for the longer-term bulls, and those bulls that are holding positions from near the 1792 wkly lo, over the w/e?

NB: Chart conditions discussed, per 3 candle fractal swing analysis.

Mthly, Wkly, Dly, then 4Hr, below.

Closed all shorts from last week.
Any move up still looks like an opportunity to reload shorts for a new low below 1760

1.207 next week

100p distance, ranging on monday is possible --- have a great weekend friends

nice chart

I agree with your view. Of course, maybe the price will come up to 1.1900, as you said, the price fluctuates up to 100p Or ranging. 1.175 is certain for next week. Of course, this is my view of the chart

Calculated the daily pivot for next trading day ahead of time, they are yellow highlights, the 2 red lines are Long term pivot area, the space between the daily pivot and long term pivot is limited. even if price stays above daily pivot on next Monday, I would still not go Long, the long term pivot is just above it, not worth it.

Look for Short only for next Monday, as long as price stay below daily pivot, it is good to go.

Then will look for Shorts by following the usual rules:
1. bounce off daily pivot; or
2. bounce off upper key level; or
3. close below lower key level

keep it simple.

RSI developing hidden bearish div