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Cable Update - Continued 105 replies

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Cable Update (GBPUSD)

Quoting navk
{quote} Yes. That is the area I am looking to short in asia
As I promised, I shorted that 1 minute spike..
Result ?

Some 200 + bucks.
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Intraday only.
And this is enuff.

3 % + 3 % today.
Intraday only.
I expect gbpjpy to fly above 168.30
POSTMASTER
Quoting Robinhood1
I expect gbpjpy to fly above 168.30
Jake to the Algo
POSTMASTER
Quoting Jolita
{quote} Beautiful voice...
Hope you like this one
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POSTMASTER
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so now let’s see tp . And go long which by the pattern should go to 2200 area …. Or let it run see if it breaks the tl
Hi guys,

New trader here. I appreciate this forum is more trading than speculating but I wanted to ask you guys as you're forex experts.

Do you think the USD is now on a long-term downtrend?

I need to transfer a large amount of USD to GBP, between now and mid-2024, and wondering if I should start doing it now or wait for a potential rebound next year.

Thanks in advance!
Below 2090 would or could be a game changer
Markets are open tomorrow?
The market has short memory
Quoting Whale
Markets are open tomorrow?
US market is open, not sure how active it will be.
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Quoting Bcn123
Hi guys, New trader here. I appreciate this forum is more trading than speculating but I wanted to ask you guys as you're forex experts. Do you think the USD is now on a long-term downtrend? I need to transfer a large amount of USD to GBP, between now and mid-2024, and wondering if I should start doing it now or wait for a potential rebound next year. Thanks in advance!
I'm no expert, but if you take USDX as indicative of the dollar, then no, it is not in a long-term downtrend, because you can see clearly the the 6- and 12-Month charts are in up swings. The 1-Month has made a 3-bar swing high, so a pullback is underway. Timeframes this large often make 50% retracements, which is to about 100 where there is a zone of previous highs. So over the coming months, it is likely to hit that area and then head back up.

On the Weekly, it is likely now at a support zone, so it would not be a surprise to see it bounce up from there. And unless it breaks normal cycling, it will be going up to achieve a better rate to drop from, not going up to continue the up trend.
To free Gazans of Hamas, use whatever it takes.
Quoting dantpm
{quote} US market is open, not sure how active it will be.
If anything like last year, very active.
Quoting DrDave
{quote} I'm no expert, but if you take USDX as indicative of the dollar, then no, it is not in a long-term downtrend, because you can see clearly the the 6- and 12-Month charts are in up swings. The 1-Month has made a 3-bar swing high, so a pullback is underway. Timeframes this large often make 50% retracements, which is to about 100 where there is a zone of previous highs. So over the coming months, it is likely to hit that area and then head back up. On the Weekly, it is likely now at a support zone, so it would not be a surprise to see it bounce...

Thanks so much for your detailed response. So in your view it's not unreasonable to suggest that the USD to GBP could rebound to 0.90, or perhaps even higher, by end of this year/start of next year?

It's interesting because just 6-8 weeks ago the media was full of 'analysts' talking about how GBP and USD hitting parity by Christmas was inevitable, and now all this talk has gone away. How quickly sentiment changes!

Thanks again. Much appreciated.
120 dot 5 nice area
Quoting ICouldBWrong
Not sure if anyone else remembers, but last Thanksgiving the forex markets were quite busy. JPY and CHF, in particular had huge run ups that day. Dollar had a pretty good sell off as well. As soon as the Asian markets opened Thanksgiving evening, the markets went nuts. Basically all the commodity or 'risk on' pairs sold off hard. Just take a look at any xxx/JPY or xxx/CHF chart. The largest candle you'll see for 2021 was probably on Thanksgiving. Obviously that doesn't mean it's going to happen again this year, but definitely don't assume it's going...
Will see how Asia market will trade tonight. But yes, dollar possibly might be bought.

Had a dream last night of a big sell off. Lets hope so.

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short 225
Quoting elbert3
Below 2090 would or could be a game changer
As above come on
i have time until Wednesday to improve my system
first step , moving to 15m chart
second step wideing the bb stop from 10. 2 into 20,1 parameters
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Current Rate : 1.20193

I am still thinking of trading today , there are couple of support and resistance marked on my chart , waiting for primary indication to provide "Long" or "Short" situation . It looks to be Bullish pressure continuing . However, i am FLAT.

-Bella's Blue

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Goddess of Thunder..
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