Cable Update (GBPUSD)

Gbpusd short tp 1.21400

GU

Five hours passed after taking this thread. Was away and didn't see any significant move for this pair.
Still in ranging mode, to spike both seller and buyer.

Maybe the US PPI on Friday will move this pair.
Meanwhile, no change in GBP/USD’s outlook as range trading continues.
Intraday bias stays neutral.

Add position.

Thanks buddy,
I did confirm with others it's all the same ,
It was my first time trying new system on this pair and noticed that. Thanks once again
Tony

what is extrme for me today in NY session ?

2130 or 2250/60

another chance?

Dxy breaching that 1.04.950 level … It will be a free fall from here

Overtime goals

GU

Two hours to LC.
Retail Seller coming in to help price to go UP further.
(Thanks to seller)

GU 1.23 incoming?

From my perspective, as long as price closes below 1.2345, the bearish bias remains in-tact on larger TF, so a drop can be initiated at any level between there and the current level.

but you are putting the risk on the table. you put your early salary into broker account and risking it to make your weekly wage.

It will probs spike above Weds High then sell

HNS comfirmed...

"Japan pegs USDJPY at 200 to sort out its financial system"

Summary: "Japan’s real GDP drops by 8 percent." - John J. Hardy.


"Japan mobilised hundreds of billions of USD in its currency reserves in 2020 to defend the Bank of Japan’s (BoJ) unmoved monetary policy and the JPY itself as the BoJ refused to hike the policy rate from -0.1 percent or to lift the yield cap on 10-year Japanese government bonds at 0.25 percent. As 2022 rolls into 2023, the pressure on the JPY and the Japanese financial system mounts again on the global liquidity crisis set in motion by the vicious Fed policy tightening and higher US treasury yields.
Initially, the BoJ and Ministry of Finance deal with the situation by slowing and then halting currency intervention after recognising the existential threat to the country’s finances after burning through more than half of central bank reserves. But as USDJPY rises through 160 and 170 and the public outcry against soaring inflation reaches fever pitch, they know that the crisis requires bold new action. With USDJPY soaring beyond 180, the government and central bank swing into motion.
First, they declare a floor on the JPY at 200 in USDJPY, announcing that this will only be a temporary action of unknown duration to allow for a reset of the Japanese financial system. That reset includes the BoJ moving to explicitly monetise all its debt holdings, erasing them from existence. QE with monetization is extended to further lower the burden of Japan’s public debt, but with a pre-set taper plan over the next 18 months. The move puts the public debt on course to fall to 100 percent of GDP at the end of the BoJ operations, less than half its starting point. The BoJ policy rate is then hiked to 1.00 percent and all yield-curve control is lifted, which allows the 10-year rate to jump to 2.00 percent.
Banks are recapitalised as needed to avoid insolvency and tax incentives for repatriating the enormous Japanese savings held abroad see trillions of yen returning to Japanese shores, also as Japanese exports continue to boom. Japan’s real GDP drops by 8 percent on reduced purchasing power even as nominal GDP rises 5 percent due to cost of living increases, but the reset puts Japan back on a stable path and establishes a tempting crisis-response model for a similar crisis inevitably set to hit Europe and even the US eventually."

Market impact: USDJPY trades to 200 but is well on its way lower by the end of the year.

Source: https://www.home.saxo/content/articl...ystem-06122022

"UK holds UnBrexit referendum"

"The record brief tenure of UK Prime Minister Liz Truss in 2022 made the UK policy dilemma clear: supply side tax cuts and demand-boosting subsidies for energy are a toxic cocktail for a country’s bond and currency markets when that country runs massive twin budget/trade deficits. Taking over from the Truss-Kwarteng duo in 2022 was the Rishi Sunak-Jeremy Hunt duo, who only deliver depressing fiscal austerity via tax hikes and spending cuts. Does it increase the sustainability of the UK debt trajectory? For a time, maybe. But it’s just an alternative toxic cocktail to a crack-up inflationary reset that Truss-Kwarteng might have delivered, had it been given a chance.
In 2023, Sunak-Hunt manage to take Tory popularity ratings to unheard-of lows as their brutal fiscal programme throws the UK into a crushing recession, with unemployment soaring and, ironically, deficits soaring too as tax revenues dry up. Public demonstrations break out, demanding that Sunak call snap elections because of the lack of a popular mandate. Amidst the economic ruin, polls even in England and Wales indicate second thoughts on the wisdom of Brexit. Many note that the overwhelming majority of the young generation were in favour of Remain in the first place, with over 80 percent of 18- to 24-year-olds voting Remain, versus nearly two-thirds of those aged 65-plus voting to leave, many who have since passed away and very few of whom are still in the labour force.
Sunak finally caves and calls an election, resigning to allow a new Tory profile to take charge of the battered party. Labour leader Keir Starmer, noting the popular support for a second Brexit referendum and the Lib Dems surging in the polls as they clamour for a new referendum, runs on a platform of non-alignment on the Brexit question but supports a second referendum to rejoin the EU along the lines of the David Cameron deal struck before the original 2016 referendum. A Labour government takes power in Q3, promising an UnBrexit referendum for November 1, 2023. The ReJoin vote wins."

Market impact: after a weak performance in early 2023, GBP recovers 10 percent versus the EUR and 15 percent versus the CHF on the anticipated boost to the London financial services sector.

Source: https://www.home.saxo/content/articl...endum-06122022

DXY Z

something fishy here, why is GBP not breaking?

That's a pretty big move!