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Cable Update (GBPUSD)

  • #750,381
  • Jun 8, 2023 2:49am Jun 8, 2023 2:49am
Quoting Orangeapple
{quote} This would mean unemployment claims coming in below forecast? If so I'd have thought that would make USD stronger considering rate hikes are the dominating force apparently.
This would suggest unemployment claims coming in above forecast.
  • #750,382
  • Jun 8, 2023 2:50am Jun 8, 2023 2:50am
Cable is just ranging for now so it’s to wait for a clear direction.
  • #750,383
  • Jun 8, 2023 2:55am Jun 8, 2023 2:55am
Quoting epzero
Cable is just ranging for now so it’s to wait for a clear direction.
A GDP q/q revised down for EUR will drag GBP with it
Given Germany GDP q/q revised was -0.3% down from 0.0% for Q1 2023, therefore it comes with greater chance for a negative revised for Eurozone.
More time in the market, does not mean you trade better!
  • #750,384
  • Jun 8, 2023 2:57am Jun 8, 2023 2:57am
Quoting Scotteyy
Long in at 12440, SL 12420, TP open. Will hold overnight.
Have set target at 12540. Will watch price action at 12500 area.
  • #750,385
  • Jun 8, 2023 3:00am Jun 8, 2023 3:00am
...the prev 1hr sw hi zone to asian/current dly hi is the present upside obstacle for bulls, = prev res = pot res. Bullish follow-thru on that last inverted hammer close, 1hr due to close imminently.


1hr below
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Trader with an Edge.
  • #750,386
  • Edited 3:17am Jun 8, 2023 3:03am | Edited 3:17am
Quoting dantpm
{quote} This would suggest unemployment claims coming in above forecast.
Right. I was just thinking though if we've had a spike in employment this should logically lead to the reverse in unemployment claims - idk though - I'm still betting it comes in below forecast - we'll see
  • #750,387
  • Jun 8, 2023 3:09am Jun 8, 2023 3:09am
adding sells now, current price
  • #750,388
  • Jun 8, 2023 3:11am Jun 8, 2023 3:11am
TP raised to 125, SL at b/e 12448 in place
Insane in the Brain..
  • #750,389
  • Jun 8, 2023 3:13am Jun 8, 2023 3:13am
...the 4hr part of the prev 1hr/4hr sw hi zone to y/day's 2500 current wkly hi is wide, = prev res = pot res.

4hr below
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Trader with an Edge.
  • #750,390
  • Jun 8, 2023 3:21am Jun 8, 2023 3:21am
1.2475 defend..add short..prepare big move in 30min
  • #750,391
  • Jun 8, 2023 3:21am Jun 8, 2023 3:21am
Quoting mysterio
adding sells now, current price
might be wrong ofc. stop remains at 1.25 from original sells. will add one more once m1/m15 starts trending.
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  • #750,392
  • Jun 8, 2023 3:32am Jun 8, 2023 3:32am
...could see supply emerge up to y/day's 2500 hi if tested?
Trader with an Edge.
  • #750,393
  • Jun 8, 2023 3:34am Jun 8, 2023 3:34am
Quoting epzero
Cable is just ranging for now so it’s to wait for a clear direction.
the GU has been buying from 1.24000 and currently crossing the 1.245ish resistance zone aiming for 1.25ish perhaps only a day trader will be out waiting for clear direction.
Keep the Lights on then you can catch the rise from the dark.
  • #750,394
  • Jun 8, 2023 3:50am Jun 8, 2023 3:50am
12470 providing decent resistance so far, bulls will need a decent break above it towards yesterday’s highs bears will be looking to nip this itch in the Bud quickly
Insane in the Brain..
  • #750,395
  • Jun 8, 2023 3:50am Jun 8, 2023 3:50am
Quoting ScalaFX
{quote} exelent dump for refill my longs to full positions, adding 2431, target still the same, BE for all 2399
next partial closed what a beautifull week
People don't plan to lose. They lose because they don't plan.
  • #750,396
  • Edited 4:09am Jun 8, 2023 3:52am | Edited 4:09am
Quoting BeeTogether
12470 providing decent resistance so far, bulls will need a decent break above it towards yesterday’s highs bears will be looking to nip this itch in the Bud quickly
not totally encouraging signs for me !

stop moved down to 1.2490 so at least i close with something. if it gets there then it will probs retest the highs.

bearish bias was based on dollar liquidity below equal lows and possible closure of gap in lon--still may hold lets see.
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  • #750,397
  • Jun 8, 2023 3:52am Jun 8, 2023 3:52am
Quoting Yngwie
waiting 1.2465 reaction
Long 1.2466
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #750,398
  • Jun 8, 2023 4:11am Jun 8, 2023 4:11am
Quoting Scotteyy
Long in at 12440, SL 12420, TP open. Will hold overnight.
Out for 26 pips. Dont like this move down.
  • #750,399
  • Jun 8, 2023 4:13am Jun 8, 2023 4:13am
DOW Dolla' H1
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?
More time in the market, does not mean you trade better!
  • #750,400
  • Jun 8, 2023 4:18am Jun 8, 2023 4:18am
... I don't know why this site is marking the U.s wkly 'initial claims' unemployment data as a red flag now? historically it is not a big market mover 9 times out of 10. Maybe it's because the un-empl rate went up to 3.7% re last NFP etc release?
----------------------------------
... re discussion y/day...y/day Asian lo was breached but Dly S1 not reached, but Asian hi was also breached and Dly R1 reached. Today Asian hi has been breeched but price has not reached Dly R1 which is near top of this prev 1hr/4hr sw hi zone that extends to y/day's/current wkly hi, = prev res = pot res.
Trader with an Edge.
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