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Cable Update (GBPUSD)

  • #728,901
  • Feb 15, 2023 12:25am Feb 15, 2023 12:25am
Quoting SnailFX
{quote} Looking better! I like trades like this, they really test my patience. {image}
Patience is a necessary quality for a trader.
Just follow the trend.
  • #728,902
  • Feb 15, 2023 12:27am Feb 15, 2023 12:27am
GBP & UK CPI


Both Retail and CPI data from UK in few, which can be the catalyst for a drop out of the channel.
Below 1.1842 confirms a Double Top.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 193.jpg Size: 224 KB
Still inside a channel going back to Oct-22 but is dancing on its lower trendline.

NOTE :
Previously, UK annual inflation stood at 10.5% which added pressure on the Bank of England (BoE) to hike rates by 50 basis points to address the high inflation.

In January, analysts estimate that the UK inflation slowed down to 10.3%.
If the report comes up higher than expected, the market may begin pricing in another 50-basis point hike which would strengthen the pound and weaken the FTSE 100 index.

Watch the number..
Trade safely

CHIKO
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #728,903
  • Feb 15, 2023 12:32am Feb 15, 2023 12:32am
2050 keeping us from flying so far.
Can't seem to shake-off torturous alerts to that same ol' absolutely wonderful 2100 magnet!
  • #728,904
  • Feb 15, 2023 12:34am Feb 15, 2023 12:34am
Now that we are just about 30 minutes away from the UK CPI data release, and price is still hovering around 1.2150 it is likely that we might see a liquidity sweep to the downside first before the buying will begin.
If this happens, I expect buyers to be waiting at 1.21034
Trade safely everyone!
  • #728,905
  • Feb 15, 2023 1:03am Feb 15, 2023 1:03am
2100

Super magnet

I hail thee
  • #728,906
  • Feb 15, 2023 1:05am Feb 15, 2023 1:05am
Quoting BrainBucks
2100 Super magnet I hail thee
No help from CPI data for the GU, now will it turn around?
Watching EU and UJ this am as well. Might be a better day over there.
  • #728,907
  • Feb 15, 2023 1:05am Feb 15, 2023 1:05am
The data was released and then GU went down.
Just follow the trend.
  • #728,908
  • Feb 15, 2023 1:07am Feb 15, 2023 1:07am
Quoting pipcenturion
Now that we are just about 30 minutes away from the UK CPI data release, and price is still hovering around 1.2150 it is likely that we might see a liquidity sweep to the downside first before the buying will begin. If this happens, I expect buyers to be waiting at 1.21034 Trade safely everyone!
1.21034 is now, but I don't think the decline has stopped yet.
Just follow the trend.
  • #728,909
  • Feb 15, 2023 1:11am Feb 15, 2023 1:11am
12100 seems be magnetic as Brian am has been saying! A break below which is also the daily S1 level may give us 12050 as next psychological area. More USD positive news this afternoon could show us below 120.
Insane in the Brain..
  • #728,910
  • Feb 15, 2023 1:12am Feb 15, 2023 1:12am
Quoting Robinhood1
went short eurnzd @ 1.7001
Closed with a loss. Long time without having a loss. Scamers can finally satisfy their natural hate. Have to be really nasty to do this job.
POSTMASTER
  • #728,911
  • Feb 15, 2023 1:13am Feb 15, 2023 1:13am
Quoting lucaswalliam
{quote} 1.21034 is now, but I don't think the decline has stopped yet.
Surprising as it may seem price normally needs one or more reasons to stop (and even then it may just do whatever it does):
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 15 KB
  • #728,912
  • Feb 15, 2023 1:13am Feb 15, 2023 1:13am
Quoting SnailFX
{quote} Looking better! I like trades like this, they really test my patience. {image}
TP-ed at 161.204.

Let's Go!
  • #728,913
  • Feb 15, 2023 1:15am Feb 15, 2023 1:15am
Long GBPCHF. Not sure about GBPUSD right now as value is being found at lower prices at key levels
  • #728,914
  • Feb 15, 2023 1:21am Feb 15, 2023 1:21am
Quoting BeeTogether
12100 seems be magnetic as Brian am has been saying! A break below which is also the daily S1 level may give us 12050 as next psychological area. More USD positive news this afternoon could show us below 120.
Pretty sure its BRAIN and not BRIAN
  • #728,915
  • Feb 15, 2023 1:22am Feb 15, 2023 1:22am
All out right now. Took profit on my short from last night.
Insane in the Brain..
  • #728,916
  • Feb 15, 2023 1:25am Feb 15, 2023 1:25am
Quoting lucaswalliam
{quote} 1.21034 is now, but I don't think the decline has stopped yet.
Drop will probably continue. We are at S2, ~1.21000.
If H4 closes below, S3 should be tested, ~1.19350.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 23 KB
  • #728,917
  • Feb 15, 2023 1:27am Feb 15, 2023 1:27am
Quoting navk
{quote} we might see current asian low to hold for upward thrust high up close to yesterday's high
What is your post CPI data take on this pair?
  • #728,918
  • Feb 15, 2023 1:41am Feb 15, 2023 1:41am
Quoting dantpm
{quote} What is your post CPI data take on this pair?
I posted early in asia.

There is LO spike that can be expected.

Selling is the way today.
Intraday only.
  • #728,919
  • Feb 15, 2023 1:46am Feb 15, 2023 1:46am
Potentially good price to Short?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 22 KB
  • #728,920
  • Feb 15, 2023 1:51am Feb 15, 2023 1:51am
Tempted to get back in again but will wait for after LO spike.
Insane in the Brain..
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