Cable Update (GBPUSD)

You are twice my age and you still trade like a numb nut

He'll cry a bit, then tell everyone he's leaving the thread, then people will say "no Leon don't go" then he'll not post for a few days, then he'll start posting his charts again, then he'll be massively underwater with his trades, then he'll start making accusations, get into an argument call people names, police their English and then the cycle starts all over again ..............Happy weekend folks

I make that a very high probability long.
I think the Bank of England will have to raise at a much more aggressive rate.

its not going back in that wick without up

What would be your target area?

There is res right there
just looking at the size, I don't see why it can't go to the red box on that weekly
I only use the weekly for bias and levels, but that does look sweet and very large range off the all time low

Technically piercing line with a long lower wick for the chart.
The red shaven one is 600pips.

Another exceptional week just closed. It had everything; a huge lo-hi pip range, > 30day adr trading days, strong moves, volatility, and momentum, and an all time low. Whilst some got hurt during it, judging by this thread, others did well. The strong bounce up from the Wkly, Mthly, and current Yrly lo of 1.0327 can be seen technically as a reaction to extreme deviation (from the mean [s,]) and extreme o/s, and o/s oscillator readings extending to the Mthly chart. Fundamentally, the upmove/bounce from the current yrly lo after the Asian session flash crash on Monday, grew as markets became more convinced that the Uk govt/central bank 'got it' or at least were beginning to 'get it' over their concerns re the likely consequence of last week's so-called 'mini-budget,' and of course the likely near-term trajectory/pace of rates re the Boe - partly to counter govt policy!! This was despite the pump and dump initial reaction to the Boe intervention in the bond market on Wednesday, which like gbpusd/fx, reverberated across a lot of asset-classes and their instruments.

We should stay alert to any influential comments/interventions over the w/e that might affect this pairing on Monday and into next week.
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Mthly This t/f's candle closes as a bearish-bodied hammer-esq candle with a longer lower wick than body, and is a downside follow thru on last month's bearish candle. The strong down-move during this mth closing breached the lower falling wedge channel bottom that joined 1980 and 1410 although the strong bounce up from it's 1.0327 lo has seen price close back inside this channel. At 1412 pips (238% 6mth amr) the candle is the biggest on this t/f since March 2020 - the 'covid' candle! The t/f closes the mth @ start of a classic downtrend after the 1.1410 downside b/o of what really was rangy-strongly bearish conditions above it. The mthly osc's close the mth in o/s territory.
Wkly The wkly candle closes as a bullish-bodied hammer candle after a downside follow thru on last week's bearish thrust candle, and does so from o/s osc readings, which also show some bullish regular divergence. The candle is also a bullish piercing pattern (opposite of dark cloud cover) re last week's strongly bearish wkly thrust candle. The hi of the wkly candle (1.1234) was @ the underside of the previous falling wedge pattern on this t/f that has been breached to the downside by last week's candle as described above. This wkly candle was the biggest pip range (908/296% 13wk awr) since the w/c 22nd March 2020. The t/f closes the week still in a classic part of it's downtrend.
DLY Friday's dly candle closes as something of a spinning top - and although bullish-bodied, is a bit of an indecision candle. There are now 4 consecutive bullish-bodied candles on this t/f. The t/f is still in a general downtrend and closes the week with it's oscillators turning up from extreme o/s readings. Monday's 603pip dly candle pip range was the biggest of this year so far, and the biggest since 18th March 2020. Friday's dly candle (like all during the week just closing) saw a > 30 day adr pip range @ 210pips/126%
4Hr This t/f's last candle was a small range nondescript candle really but the t/f ends the week in what might be the beginning of a new uptrend. This said it's oscillators end the week showing bearish hidden divergence which will likely stay valid so long as the 1.1234 wkly hi remains intact.

NB: 3 candle fractal swing analysis used to assess chart conditions.

Mthly, Wkly, Dly & 4Hr below

Looking at the USD 3 month chart, we are at resistance but not quite a TL formed yet.
I can't help but feel we are looking at a drop into the 110-109 zone before poking it's head just up into the 115 area before a move into the drop zone below.
Supp/Res zones are great to watch with TL's etc for swing trade hints, but got to stay flexible without getting too fixated.

Reaching that 1.2230 area may well signal an overall trend reversal.

GU wild swings. need to increase SL for this pair lately.

foresee some pressure at 1.12.

confluence factors of QM (1 hr), round number, MA 100 (4 hr) resistance.

Hi Bones,

Do you have by any chance non repaint arrow indicator?

*Grabs popcorn*
Reads le drama that I've missed.

Hi Jolita, sent you link to my indicator room for TG. have a look you might find something useful, i dont use indis so cant remember what i have stored

Hi Pat even when you put them on ignore they can click the link to see so they can look , if your the thread starter when you click dislike then ignore i believe it works well

Hi nAvin,

Anything can happen, but this is where currently pointing imo.

If you add harmonics, there is a pattern for this.

Do you have anything?

You guys long for next week?

Nothing changes in my view --- Major Half Point 1.1500 is still there.


--- Have a nice weekend you guys debaters lol

pound did recovered from recent flash crash
yet no difference from MacDonald's quarter pounded burger though!

Lets see if bitcoin closes gap at 19319