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Cable Update (GBPUSD)

  • #752,761
  • Edited 1:52am Jun 19, 2023 1:42am | Edited 1:52am
checking pa , breaks 2802 will signal for further correction below 2768 while 2699 real limit down for up , so if to run for new high now better go above 2802 for 2850/70/ 3000. decision may be 2837 + . take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #752,762
  • Jun 19, 2023 2:19am Jun 19, 2023 2:19am
the bears are here
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yes yes yes
  • #752,763
  • Jun 19, 2023 2:21am Jun 19, 2023 2:21am
Quoting Moty
the bears are here {image}
Are they, really? Kinda too sluggish for me.
  • #752,764
  • Jun 19, 2023 2:22am Jun 19, 2023 2:22am
A lot of focus on BOE later in the week - I think some traders are pricing in an above forecast rate hike - would explain the demand over the last week.

Public holiday in US as well today so may be a quiet Monday.
  • #752,765
  • Jun 19, 2023 2:24am Jun 19, 2023 2:24am
Quoting ninner
I like the way the euraud is acting!!!
Buying Selling?
  • #752,766
  • Jun 19, 2023 2:28am Jun 19, 2023 2:28am
Hope we're not in for another day of shitty price action. Have gone long with stop below the recent low. Will go short if we break pivot. Also long on UJ.
  • #752,767
  • Jun 19, 2023 2:40am Jun 19, 2023 2:40am
Quoting Scotteyy
Hope we're not in for another day of shitty price action. Have gone long with stop below the recent low. Will go short if we break pivot. Also long on UJ.
bias still long but it looks messy below M30.
I may take a small lotsize 2828 long
in wondering about yourself, you forgot what you came here to be part of
  • #752,768
  • Jun 19, 2023 2:41am Jun 19, 2023 2:41am
G/M, U.s B/H today. Fri's hi @ Mthly R2. Fri and last week's candle - bullish thrust candles both > their 30day/13wk adr/awr respectively.
3 attempts on that prev 1hr sw hi zone now, and all held as pot rbs.

1hr below
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Trader with an Edge.
  • #752,769
  • Jun 19, 2023 2:58am Jun 19, 2023 2:58am
UK Economic Outlook
UK Headline CPI (Consensus): 8.4%
Truflation: 13.1%
OBR forecast: 6.9% for Q2. (Q2 going to end, CPI still well above forecast)
Avg earning yoy: Kept increasing each month. and this month, it rose considerably from 6.1% May (revised) to 6.5%
GDP mom: 0.2% in june print up from -0.3% for the prior month.
MPC: 50bps hike on the table.
Split Vote: 5- +50bps 2- +25bps 2-0bp

A CPI print tomorrow (> consensus), tomorrow itself will price in the final MPC June hike above market consensus.

Market priced in 6% BOE bank rate
More time in the market, does not mean you trade better!
  • #752,770
  • Jun 19, 2023 3:06am Jun 19, 2023 3:06am
Quoting Headland
G/M, U.s B/H today. Fri's hi @ Mthly R2. Fri and last week's candle - bullish thrust candles both > their 30day/13wk adr/awr respectively. 3 attempts on that prev 1hr sw hi zone now, and all held as pot rbs. 1hr below {image}
Stabs up or stabs down, which liquidity grab is it going to make or will it simply pick up both of them?
  • #752,771
  • Jun 19, 2023 3:07am Jun 19, 2023 3:07am
This repeated frustrating bounce at 810 is starting to feel cautionary albeit ominous for a bear like me today.
What to do, what to do
  • #752,772
  • Jun 19, 2023 3:08am Jun 19, 2023 3:08am
Quoting knkie
{quote} bias still long but it looks messy below M30. I may take a small lotsize 2828 long
im not liking it
exit -12

i should have waited for clearer momentum

sidelines now
in wondering about yourself, you forgot what you came here to be part of
  • #752,773
  • Jun 19, 2023 3:08am Jun 19, 2023 3:08am
long @2811 for +- 15 pips
May be wrong trade safe
Cheers
my loss is your gain
  • #752,774
  • Jun 19, 2023 3:19am Jun 19, 2023 3:19am
Quoting dantpm
{quote} Stabs up or stabs down, which liquidity grab is it going to make or will it simply pick up both of them?
Hi, yeh who knows? Another test of that prev 1hr sw hi/lo zone now and more liquidity. 1hr/4hr 'general' uptrends still intact despite the 1hr 'consolidation/ranging.'

1hr below
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Trader with an Edge.
  • #752,775
  • Jun 19, 2023 3:21am Jun 19, 2023 3:21am
12810 needs to crack for a bearish run…
some talks over the weekend that although the UK has avoided a recession the rise in rates will cause a crazy housing market crash and ultimately a recession before the year end.
Insane in the Brain..
  • #752,776
  • Jun 19, 2023 3:25am Jun 19, 2023 3:25am
Quoting BeeTogether
12810 needs to crack for a bearish run… some talks over the weekend that although the UK has avoided a recession the rise in rates will cause a crazy housing market crash and ultimately a recession before the year end.
The 'other' theme is that below 1.2805 is a liquidity grab for it to move higher.

1.28300 also appears to be a bouncing point this am as well.
  • #752,777
  • Jun 19, 2023 3:26am Jun 19, 2023 3:26am
Quoting BeeTogether
12810 needs to crack for a bearish run… some talks over the weekend that although the UK has avoided a recession the rise in rates will cause a crazy housing market crash and ultimately a recession before the year end.
There is Uk housing problem and US student Loan, majority of people are ignoring it.
These 2 are ticking time bomb.
More time in the market, does not mean you trade better!
  • #752,778
  • Jun 19, 2023 3:27am Jun 19, 2023 3:27am
Quoting dantpm
{quote} The 'other' theme is that below 1.2805 is a liquidity grab for it to move higher.
Definitely a possibility, although ive noticed when price tends to bunch up around support/resistance, in this case the pivot, it tends to break through eventually.
  • #752,779
  • Jun 19, 2023 3:31am Jun 19, 2023 3:31am
Quoting Bogdanoff
long @2811 for +- 15 pips May be wrong trade safe Cheers
closed 10 pips
Cheers
my loss is your gain
  • #752,780
  • Jun 19, 2023 3:34am Jun 19, 2023 3:34am
Quoting Fardeen1209
{quote} There is Uk housing problem and US student Loan, majority of people are ignoring it. These 2 are ticking time bomb.
The US had a housing market correction. The UK and Canada have not. Not sure about the UK but Canadian banks took record hits for mortgage loss provisions in the last round of results.
Incomes have not kept up with housing costs and with the current inflation expectations the gap is unlikely to be bridged.
In Canada the 'experts' are saying that people have to abandon the notion of home ownership and move into condos for sustainability. A completely insane idea as condos are the least sustainable form of living on the planet as proponents ignore the very short (60 year?) lifespan of the units.
Not investing in banks or mortgages anytime soon.
Hope to master this currency trading sooner than later.
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