Cable Update (GBPUSD)

Quoting Pat Chiko

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{quote} {quote} GU The process we're discussing is known as analyzing price action based on support and resistance zones. It's not merely a prediction, but rather an analysis and interpretation of the current price and its behavior. By taking into consideration the market's structure and fractals, how one analyzes the market can be subjective but can also be objective as long as they adhere to the price structure. I refrain from guessing or predicting what the price may or may not do. My analysis is solely based on Price Action Trading (aka PAT)....

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Quoting mysterio

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my chart 1.2591 is weekly point of control within h1 demand well worth watching for potential bounce, if it doesnt hold then dxy could have bottomed already eventually looking for a gap fill on dollar at 104ish {image}

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Quoting mysterio

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{quote} 1.2735 is the new target for buys i hope we can get a dip first to get a good price for that I see bears after that but one step at a time

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Quoting sakimer

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EU is doing well. {image}

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Quoting Orangeapple

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{quote} Do you give any weight to fundamentals at all? I feel that traders may be slowly repricing in the rate hikes by FED thus some continued USD demand might be likely for awhile.

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Quoting Scotteyy

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{quote} TP set at 12730. In my opinion, today we will go to weekly R2 at 12734. Then sell all friday. Trialling walking away from trades a bit today, I've got a strimmer on the way and need to test it out on the garden

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Quoting pipfarm

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Great timeframe alignment with GU H1 was in a correction and H4 moving with D1 H1 moved up out of the correction back in alignment with H4 and D1 GOLD H1 we have a correction moving up against H4 H4 is moving in the same direction as D1 so short from H1 as it comes back into alignment with H4 and D1

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Quoting Scotteyy

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{quote} Out, dont like the PA. -3 pips.

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Quoting Pat Chiko

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{quote} Seldom want to talk about fundamental, but yesterday JPow press conference caught my attention. During the FED's press conference, JPow made a quote that attracted the most attention.{image} This quote has been the reason why so many describe today's pause in rate hikes as hawkish, after ten successive increases. FOMC statement mentions that the FED will stay "data-dependent" and Dot plot is hawkish. But, JPow's quote has raised several eyebrows because it contradicts the Fed's insistence on being data-dependent. Furthermore, the Fed Chair...

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