Cable Update (GBPUSD)

mff/ftmo

i dont really care.. im a TA trader.

SL hit from all, revenge trade 5xlot for quick recovery enter 2720

Going short from this levels would be so nice after the labor data. Let's wait 2 more days and i hope it pays off nice.

inflation now

Headline: 0.16%/3.23%
Core: 0.2%/4.23%

what is your target scala? Or its just a scalp?

Might be a good area to look for some shorts

Enjoy the month end vibes.

No, this is midterm trade, TP 2500

A short-term trader with a long-term fantasy?

Cute picture but I will stick with the statistics on this one. Maybe it was a good intraday/news trade.

Cable has resumed its retracement and going down now

I see a lot of retail traders in here want to burn their money.

nice you are fully loaded

History :
It's Mr. Bernanke, he was saying that money is an illusion ( not the only one)

Highs of day seen, be interesting to see if 1 we can stay above 127 if not where support will be. On the flip where tomorrow takes us. There is more data which could strengthen the pound but also take us back below. Sitting on fence here but hunch from the drop and retrace is we are on way to 131+

Hello,


I totally share your sentiments on the market outlook for GBP/USD. This currency pair is at a fascinating juncture at the moment, hovering around the 127 level. I'd like to elaborate on a few aspects that might offer more clarity for traders wondering whether to jump in long or short.

Firstly, the 127 level you mentioned is a psychologically important threshold for many traders. Holding above it could attract more buying interest, but any signs of weakness might also prompt the bears to pounce. While we may find interim support levels around 126.50 and 125.80, a definitive dip below 127 could trigger a broader sell-off.

On the flip side, the notion of the pair climbing to 131+ is intriguing, especially considering the upcoming economic data releases. If the data tilts in favor of the pound—perhaps something like a surprise uptick in employment figures or a bullish outlook from the Bank of England—then there's no reason why we can't be looking at 131 or higher in the near term.

What I find most fascinating is how the technical and fundamental aspects are converging here. The recent drop and retrace have created a compelling setup, one that appears to be a classic "two steps forward, one step back" pattern, suggesting upward momentum. Combining this with positive data releases could offer a double whammy of bullish triggers.

However, let's not forget the other side of the coin. Any disappointment in the data could see us tumble back below 127, and possibly even further down towards the 125 level, where the next major support is likely to be found.

So yes, like you, I'm sitting on the fence—but with binoculars. Watching closely for signs that could tip the scales one way or the other. It's as much about being on the right side of the trade as it is about the timing of entry and exit.

Happy trading, and may the Forex gods be in your favor!

Best,
100MDC