Cable Update (GBPUSD)

Cable will dive more, so be careful with long positions!

...........because

beware of dead cat bounce!

Placing a trend line on the two previous swing lows and a vertical line on the swing high afterwards. And where the two intersect at on the monthly.

new target for this morning' session 1.1196

Based on Q points, atm the price is looking for 1.1000 sooner or later

Damn, didnt expect this bearish move this strong.

Hello trading friends

I am working so I will make this short as I just have a break time now. I couldn't post this when I entered the trade as I only had time to make the trade and get my morning coffee. I hope you don't mind. Here is the trade progress. I will try to update when I can. I need to eat and get back to work.

from here.. take a risk small SL above it then 130+ pips. Boom!

It is just macro economy. Dollar will become stronger, GBP weaker. It is obvious.

well, just woke up to see the chart.

Was there FOMC at all ?

Price is back down !!

My EA has been KILLING GBP and AUD this week while I sleep. UNFORTUNATELY, this is a 2nd account testing AUD trades and Its been untouched all week while I make adjustments to the PUBLIC posting version that just traded GBP. My 'working' version has missed most of the good trades as I tinker with its final setting. So weird that I don't miss 'losers' and my 'winners' are late to the party getting only a fraction. Setup is prob complete (I hope) so these two will get in sync soon enough but what are the freakin' odds? Share my pain as I watch the GBP high-dive party.

Ok thanks

Dollar index seems to be interested in setting new highs right now.
BOE is supposed to come out with an interest rate change tomorrow. I doubt that it will be 50 basis points as was forecast.

Hello! If you are to trade the BOE decision today, where should you position your buy order? Thanks!

Buy added at 1.1226... target 1.1300, last target 1.1400.

What an interesting drop I'm looking at the chart now My target was 1.12500 & it went even lower than that. Cable is crazy

Looks like many didnt trade FOMC yesterday. Cant argue with that, since things were very cloudy.
One thing i'm not yet understood, is that even tho the Rate hike was hiked by only 75bps which was already priced in, but USd went Up.
Is it because the market now expecting another 75bps for next meeting to bring down Inflation to 2% target cause i'm pretty sure other things was at work yesterday(on the rate data release), They were expecting something else.

Anyway,

What next?
Now BOE and BOJ in focus.

Will we see a 75bps up by BOE and an unchanged policy by BOJ (with some verbal intervention to strength its weak YEN)

If 75bps- GU may return to 1.145 region and rest there for this week.
50bps- hawkish disappointment.

just a view, but most importantly follow the Money.
If she said Up, we go up.
Down, then down it is.
Sideways, i'm breaking up with her.

Nothing from boj
Buy UJ