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Cable Update (GBPUSD)

  • #743,401
  • Apr 29, 2023 3:30pm Apr 29, 2023 3:30pm
Quoting BrainBucks
Just popped in to see if I might find anyone here who can see into the future of the GU, especially if the new week kickstarts with a bullish continuation or a bearish retrace.
Well, the spirits are telling me that the future is uncertain!
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  • #743,402
  • Apr 29, 2023 3:37pm Apr 29, 2023 3:37pm
Quoting BrainBucks
Just popped in to see if I might find anyone here who can see into the future of the GU, especially if the new week kickstarts with a bullish continuation or a bearish retrace.
It is possible that the discrepancy between the USDX, EURUSD and GBPUSD start to realign which would suggest GU drops. My
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  • #743,403
  • Apr 29, 2023 4:24pm Apr 29, 2023 4:24pm
I wonder?
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I have no clue where it's going
  • #743,404
  • Apr 29, 2023 5:20pm Apr 29, 2023 5:20pm
Quoting BrainBucks
Just popped in to see if I might find anyone here who can see into the future of the GU, especially if the new week kickstarts with a bullish continuation or a bearish retrace.
i am always in both directions, but i think im gona buy on the first drop, but the question is if it will drop.
Am thinking it might be in a trending mode up. Bought a few positions long before it closed on friday.
You have an IQ lower than 90 if you interact with this user.
  • #743,405
  • Edited Apr 30, 2023 12:25am Apr 29, 2023 9:30pm | Edited Apr 30, 2023 12:25am
My view for cable is turning point somewhere above 1.2660(not too far away) and down to below 1.1975.

For gold, turning point beyond 2300 at least
POSTMASTER
  • #743,406
  • Apr 29, 2023 9:40pm Apr 29, 2023 9:40pm
Quoting Robinhood1
My view for cable is turning point somewhere above 1.2660(not too far away) and down below 1.1975. For gold, turning point beyond 2300 at least
Meanwhile, support for monday could lie around 1.2480
POSTMASTER
  • #743,407
  • Apr 30, 2023 12:16am Apr 30, 2023 12:16am
GU closes above weekly resistance, now it gets interesting.
Plan your trades and trade your plan.
  • #743,408
  • Apr 30, 2023 12:19am Apr 30, 2023 12:19am
Inserted Video
POSTMASTER
  • #743,409
  • Apr 30, 2023 12:22am Apr 30, 2023 12:22am
Quoting BrainBucks
Just popped in to see if I might find anyone here who can see into the future of the GU, especially if the new week kickstarts with a bullish continuation or a bearish retrace.
I see more buying pressure up to 1.37
Plan your trades and trade your plan.
  • #743,410
  • Apr 30, 2023 12:47am Apr 30, 2023 12:47am
The movement of the yen was more conspicuous than the dollar last week.
However, I have a feeling that UJ will swing big next week. Rather, I feel that GU will show a stable rise. GJ's long was good last week, but will it continue next week? EU is weaker than GU, so I ignore it.
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  • #743,411
  • Edited 3:52am Apr 30, 2023 12:57am | Edited 3:52am
Quoting Jolita
Should have shared this video last week, but you can find some answers here (ignore advertising). https://youtu.be/2CVOfzuqoY4
Great link , this video is pretty much "on the money" as they say, it highlights what I have been saying regarding the interest rises and rate hikes coming.

Note that even though this video is very positive for the pound with expected 0.5 increase rate hikes to come this year (0.25 predicted in May) don't forget that the USD is expected to raise theirs by another 0.25 (this year) rumours are that they will pause for now and not raise in May but if this changes or when that hike comes we could expect a reversal and some dollar pressure depending on when the pound wants to raise the other 0.25.

With this in mind I am still Bullish on the pound for now, will look to take profits and trail SLs as we reach resistance as some consolidation could be expected especially around news events and short at some resistance to scalp some extra then look to buy back in if we see big dips like maybe when the USD hikes rates until 1.30 when it will be a very interesting area to short.

Lastly, keep up to date , videos and news articles often speak in hindsight or in that moment and things can change daily, will share anything else I find.

Trade safe and protect your accounts
  • #743,412
  • Apr 30, 2023 1:22am Apr 30, 2023 1:22am
Latest from Daily FX (Yesterday)

https://www.dailyfx.com/news/british...-20230429.html

Bank holiday in the UK tomorrow as well so wil be interesting to see how busy it will be and which way it will go in the short term

FX Street paints a slightly different picture polls on a bEarish bias however we have to remember this will be aot of retail sentiment and it's for the short term.

https://www.fxstreet.com/amp/analysi...s-202304281518

General consensus seems to be buy the dips

Exciting week ahead
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  • #743,413
  • Edited 3:41am Apr 30, 2023 3:29am | Edited 3:41am
January to May Ranges 2011 - 2022
2022 = 1590 pips
2021 = 790 pips*
2020 = 1820 pips
2019 = 960 pips*
2018 = 1168 pips
2017 = 1160 pips
2016 = 980 pips*
2015 = 1250 pips
2014 = 744 pips*
2013 = 1410 pips
2012 = 1065 pips
2011 = 1338 pips

Minimum = 744 pips
Average = 1282 pips
Maximum = 1820 pips

Key Observation: The years that precedes big ranges often come with ranges between 750 - 950 pips.

There is no two consecutive years of big January to May Ranges, which explains why we are currently having low ranges and still set to continue this May 2023

✓Current January to April Range is 1.1803 - 1.2583 = 780 pips which has exceeded year 2014 and almost equalled year 2021 January to May Ranges.

Next in line is January to May Ranges of Year 2019 and Year 2016 with 960 - 980 pips ranges...

Simulation of Year 2023 January to May Range below (using 960 pips being a year that precedes big range 1590 pips January to May Range of year 2022)

Current Low 1.1803 + 980 pips projected January to May year 2023 range = 1.2783

This means possible maximum high price may attack this May is 1.2783.

If 1.2783 is the maximum possible high for May 2023, then subtract 400 pips (most average expected range for month of May) from such high ..

1.2783 - 400 pips = 1.2383

Probable maximum high this May is 1.2783
Most Likely price to be touched this May is 1.2383

This means that 1.2383 is very likely to be seen this May, and 1.2783 is the possible highest price may touch This May.

This is a research excerpt with no obligation to follow.

Cheers,
George.
Data + Stat + Risk/Emotions Management
  • #743,414
  • Apr 30, 2023 6:07am Apr 30, 2023 6:07am
Quoting sbmortimer
After a bad start, an 85 pip loss, I was able to earn it all back plus a few more (+13.5 pips). I ended the week on the plus side. I didn't have time to post a chart, maybe next week. {image}
@sbmortimer Hi,it's great to see you trading profitably. I want this indicator, can you share it?
Identifying losers equals victory
  • #743,415
  • Apr 30, 2023 7:34am Apr 30, 2023 7:34am
Quoting BrainBucks
Just popped in to see if I might find anyone here who can see into the future of the GU, especially if the new week kickstarts with a bullish continuation or a bearish retrace.
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  • #743,416
  • Apr 30, 2023 7:43am Apr 30, 2023 7:43am
Quoting BrainBucks
Just popped in to see if I might find anyone here who can see into the future of the GU, especially if the new week kickstarts with a bullish continuation or a bearish retrace.
nobody can "see into the future of GU", especially not those who think they can (or tell you so)
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  • #743,417
  • Apr 30, 2023 10:26am Apr 30, 2023 10:26am
Quoting josi
{quote} nobody can "see into the future of GU", especially not those who think they can (or tell you so) {image}
Unless you come from the future

Bitcoin turning down to around 12200 when reaching just beyond 31300

Editing 12200 to 22000
POSTMASTER
  • #743,418
  • Apr 30, 2023 10:29am Apr 30, 2023 10:29am
Quoting Robinhood1
{quote} Unless you come from the future Bitcoin turning down to around 12200 when reaching just beyond 31300
Gu may be interesting this week as it at resistance..bo...go long..but may be a good short......flexibility.
  • #743,419
  • Apr 30, 2023 10:35am Apr 30, 2023 10:35am
Quoting Robinhood1
{quote} Unless you come from the future Bitcoin turning down to around 12200 when reaching just beyond 31300 Editing 12200 to 22000
Editing 12200 to 22000
POSTMASTER
  • #743,420
  • Apr 30, 2023 11:28am Apr 30, 2023 11:28am
Quoting enoch1937
{quote} @sbmortimer Hi,it's great to see you trading profitably. I want this indicator, can you share it?
Hi enoch,
I feel like I'm still new at this - you shouldn't follow my trades at this point.
I've tried different indicators in MT4 and Tradingview. I test the settings and try things out.
There are some successful traders on this forum, you can learn a lot from them.
Happy trading!
Funded trader
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