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Cable Update (GBPUSD)

  • #752,281
  • Jun 16, 2023 1:44am Jun 16, 2023 1:44am
Quoting Georginson
Fourth sell triggered at 1.2810... 20% drawdown in 2 days.. rare

do you have stop loss on all these sells, buyers keep validating to move more higher while we keep playing historic reversal patterns
Keep the Lights on then you can catch the rise from the dark.
  • #752,282
  • Jun 16, 2023 1:44am Jun 16, 2023 1:44am
Quoting Fardeen1209
{quote} They dont care where to activate OB, then goes up. I think the upward momentum was due to ECB press conference with no sign of rate pause in the future, while Powell tone was quite hawkish but not soo hawkish as Lagarde This may close the rate difference gap, in the next few months.(not to put it at equal of FED rate, but significantly)
Here is my short comments (my newb view only) on your view.

The British pound (GBP) has been on an upward trajectory against the US dollar (USD) in recent weeks, reaching a high of 1.28160 on June 16.
This is due to a number of factors, including the Bank of England's (BoE) hawkish stance on monetary policy and the European Central Bank's (ECB) dovish stance.

The BoE has raised interest rates four times since December 2021, and is expected to raise rates again in August.
The ECB, on the other hand, has only raised rates once, and is not expected to raise rates again until at least September.

This difference in monetary policy stance has led to a widening of the yield gap between UK and US government bonds, which has made the GBP more attractive to investors.

In addition, the ECB's press conference on June 9 did not provide any indication that the central bank is planning to pause its rate hiking cycle anytime soon. This further boosted the GBP, as it signaled that the ECB is committed to fighting inflation.

The GBP is likely to continue to appreciate against the USD in the coming months, as the BoE is expected to continue raising rates while the ECB is expected to remain on hold.

However, the GBP is unlikely to reach push much higher with the USD, as the US economy is still seen as being in a stronger position than the UK economy.

Here are some of the factors that could affect the GBP/USD exchange rate in the near future:
The pace of economic growth in the UK and the US
The direction of interest rates in the UK and the US
The outcome of the UK's upcoming general election
The outcome of the US midterm elections
The global economic outlook
Overall, the GBP is expected to remain strong against the USD in the near future.
However, the risks to the GBP are to the downside.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #752,283
  • Jun 16, 2023 1:44am Jun 16, 2023 1:44am
Quoting ricmaj
{quote} Stupidity and greed does not matter here, no one can guess that the market was in for a straight line, up and down is what every one prepared for so a little mis guess while trying to be on the right track is generally acceptable. in all of this i want to believe you have not been selling the highs?
Hahaha, me selling the highs read the post again
Follow The Markets Structure - Patience and Discipline
  • #752,284
  • Jun 16, 2023 1:46am Jun 16, 2023 1:46am
Quoting Whale
{quote} I don’t see the problem with shorting wherever you want if you know and able to risk what you are actually risk.

So there was no problem with shorting, look again your out, GU made a new high this morning
Follow The Markets Structure - Patience and Discipline
  • #752,285
  • Jun 16, 2023 1:47am Jun 16, 2023 1:47am
Quoting hans91
{quote} hi georginson, IMO i think 1.2836 - 1.2840 will be the limit for this upside then might be drop to the target you aimed.
why do you say that???
  • #752,286
  • Jun 16, 2023 1:48am Jun 16, 2023 1:48am
Quoting pipfarm
{quote} So there was no problem with shorting, look again your out, GU made a new high this morning
yap I lost 9 pips.
but I had my setup on LTF and it’s ok.

Onto next trade
  • #752,287
  • Jun 16, 2023 1:50am Jun 16, 2023 1:50am
Quoting Bella.al
{quote} Hello, Well, i worked further into my system development and currently still at v1.6 with Target of v2.0 . at 2.0 The system is ready to be traded like any other Forex system. You know when my mamma asks if i have a Forex System?. I can easily say better than the neighbor. Included some more days such as Friday = Bella's God of Fire and Monday = Bella's God of Sea. I have reverted back to my old GMT Time = 10:21 AM GMT from 14:56 PM GMT . Bella's Blue Journal (June ) = -89 Pip Bella's GMT Switch v1.6 {image}

Current Rate : 1.28025

I am just watching my charts seeing if the current resistance will hold or not . I still got about 3 Hours left before i can take a new position.
Bella's - Trend-0.25 Resistance : 1.28161

Bella's GMT Switch v1.6
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Goddess of Thunder..
  • #752,288
  • Jun 16, 2023 1:51am Jun 16, 2023 1:51am
Will 1.28126 hold ?
yes yes yes
  • #752,289
  • Jun 16, 2023 1:53am Jun 16, 2023 1:53am
Quoting mysterio
starting to get Q2,3,4 2020 vibes, the market refuses to die
Very good observation, June 2020 high was 1.2812 and slid to 1.2250 same June... This 2nd Quarter now has 543 pips compared to first quarter that has 600+ pips. Volatility is back and I will have to switch from intraday trading to Swing.

Price may return to 1 24 area before another attack to aim 1.30 next quarter. It is currently overbought from daily and whenever daily rsi reads 70+, it usually crashes by at least 400+ pips.
Data + Stat + Risk/Emotions Management
  • #752,290
  • Jun 16, 2023 1:55am Jun 16, 2023 1:55am
Quoting Georginson
{quote} Very good observation, June 2020 high was 1.2812 and slid to 1.2250 same June... This 2nd Quarter now has 543 pips compared to first quarter that has 600+ pips. Volatility is back and I will have to switch from intraday trading to Swing. .price may return to 1 24 area before another attack to aim 1.30 next quarter.
honestly think this is a classic 'buy the rumour sell the fact' for BoE next week
UK govt has been noising up the Bank very publicly to try and get some movement from them
But yeah starting to remind me of the steamroller of 3 years ago
  • #752,291
  • Jun 16, 2023 1:55am Jun 16, 2023 1:55am
Quoting mysterio
{quote} tbh, the price action looks like a sell day with a pump early frankfurt and drop late frankfurt i dread to say that with any confidence after the past few days though i am short again
This is a consolidation zone in my view unless1.282x proves to be a key level in early LO/NY session
by gives us a nicely shaped hammer back to 1.27×!
Face 'ur fears & tame 'ur greed
  • #752,292
  • Jun 16, 2023 1:59am Jun 16, 2023 1:59am
The price is approaching the 2nd monthly resistance 1.2846. It is possible that in this area the price will take a breather from the upward movement.
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  • #752,293
  • Jun 16, 2023 2:02am Jun 16, 2023 2:02am
#GBPUSD / H4
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  • #752,294
  • Jun 16, 2023 2:03am Jun 16, 2023 2:03am
Quoting ninner
{quote} why do you say that???
because daily resistance sits at there area as i think GU needs correction first around 100 - 200 pips before going higher again.. simple but i might be wrong too..
  • #752,295
  • Jun 16, 2023 2:03am Jun 16, 2023 2:03am
Quoting donfriday
We always have 3 set of human in the market 1 why going down 2 i don't care where it goes 3 why going up who do you think make more money?
market maker LOL
  • #752,296
  • Jun 16, 2023 2:05am Jun 16, 2023 2:05am
Look weird but this is my count (not E-wave)
based on discount waves by time.
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  • #752,297
  • Jun 16, 2023 2:08am Jun 16, 2023 2:08am
Quoting Robinhood1
Eurjpy long. Prlce now 148.75 Target beyond. 155.00
eurjpy
Current target 161.89 and rising
POSTMASTER
  • #752,298
  • Jun 16, 2023 2:09am Jun 16, 2023 2:09am
Quoting JereMi256
{quote} This is a consolidation zone in my view unless1.282x proves to be a key level in early LO/NY session by gives us a nicely shaped hammer back to 1.27×!
big sellers getting positioned
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  • #752,299
  • Jun 16, 2023 2:11am Jun 16, 2023 2:11am
Quoting Ayax.TSS
#GBPUSD / H4 {image}
i have similar count like the pink labels on 1h/30m
I posted it in my last post
but if your 5th will go so high the 3rd will be the shortest
  • #752,300
  • Jun 16, 2023 2:13am Jun 16, 2023 2:13am
US dollar bounced of strong support, looks like a retracement day.
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