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Cable Update (GBPUSD)

  • #772,601
  • Sep 5, 2023 3:08am Sep 5, 2023 3:08am
Quoting Sezavo
{quote} I'm targeting 1.25500. check sentiment retailers are buying the low lol {image}
fast and smooth
  • #772,602
  • Sep 5, 2023 3:08am Sep 5, 2023 3:08am
isn t she lovely?
chaos is just unknown order
  • #772,603
  • Sep 5, 2023 3:11am Sep 5, 2023 3:11am
Quoting dantpm
{quote} There hasn't been any data released today. The news has the US deficit doubling this year but that doesn't appear to have had a negative impact unless traders believe this will cause US rates to rise.

strange one.. Friday should have been enough for a move over 12650 aiming for 12750 for this week. No data yesterday either
Insane in the Brain..
  • #772,604
  • Sep 5, 2023 3:13am Sep 5, 2023 3:13am
Quoting BeeTogether
{quote} strange one.. Friday should have been enough for a move over 12650 aiming for 12750 for this week. No data yesterday either
Just released PMI data showing Europe is continues to contract. Doesn't explain what happened earlier today.
  • #772,605
  • Edited 5:13am Sep 5, 2023 3:13am | Edited 5:13am
Speculators, and a nice order block
Attached Image (click to enlarge)
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  • #772,606
  • Sep 5, 2023 3:16am Sep 5, 2023 3:16am
Quoting forexn00b81
Speculators, and the little order block that could {image}
Retail traders jumping in thinking that the bottom had happened.
Algorithms simply working against them.
  • #772,607
  • Sep 5, 2023 3:18am Sep 5, 2023 3:18am
2nd test.... long 1.2545
  • #772,608
  • Sep 5, 2023 3:20am Sep 5, 2023 3:20am
Quoting BrainBucks
1.2535 is my target Am I being delusional?

Looking less and less delusional
  • #772,609
  • Sep 5, 2023 3:21am Sep 5, 2023 3:21am
enuf for bears. Long 1.2537
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #772,610
  • Sep 5, 2023 3:22am Sep 5, 2023 3:22am
Quoting TheWraith
Short Let's Go Brandon. {image}
TP-ed!!! (~80 pips)

LET'S GOOOOOOOOOOOOOOOO BRANDON!

See you tommorow folks!
  • #772,611
  • Sep 5, 2023 3:23am Sep 5, 2023 3:23am
Looks falling knife for now
  • #772,612
  • Sep 5, 2023 3:25am Sep 5, 2023 3:25am
Surely does! It’s like the market woke up and shit the bed…
Insane in the Brain..
  • #772,613
  • Sep 5, 2023 3:26am Sep 5, 2023 3:26am
just add at every uptick, 1.25 will melt
chaos is just unknown order
  • #772,614
  • Sep 5, 2023 3:28am Sep 5, 2023 3:28am
Quoting eyefeelsix
{quote} 0.94% total risk I take for the three short tortoises {image}

Profits taking day --- myEW in more detail

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Simple view post #14561231

https://breakpullback.com
  • #772,615
  • Sep 5, 2023 3:32am Sep 5, 2023 3:32am
Wasn't expecting a drop like this today with no news. It seems that news really do not matter AT ALL.
  • #772,616
  • Sep 5, 2023 3:32am Sep 5, 2023 3:32am
Had to cut my losses market moving to fast
average dude treading water
  • #772,617
  • Sep 5, 2023 3:32am Sep 5, 2023 3:32am
Quoting Waveskierrob
Massive drop on GU ....
I hope people believe me when I say that this was just a guess, been underwater SHORT GU for sometime, just shows even wishful thinking works as a good indicator...
  • #772,618
  • Sep 5, 2023 3:35am Sep 5, 2023 3:35am
Quoting TheWraith
Wasn't expecting a drop like this today with no news. It seems that news really do not matter AT ALL.

There was news for Euro. GBP and Euro are brothers
  • #772,619
  • Sep 5, 2023 3:37am Sep 5, 2023 3:37am
UK PMI was good
Insane in the Brain..
  • #772,620
  • Sep 5, 2023 3:38am Sep 5, 2023 3:38am
Quoting Eren10
{quote} There was news for Euro. GBP and Euro are brothers
Yeah.. correlation is almost 100%.

One good thing to determine which currency will drop more against USD is to look at EUR/GBP and to determine which currency will be weaker out of the two EUR and GBP.

Euro is stronger then the Pound today, hence Pound is falling at the faster rate against US Dollar in contrary to Euro.

However, it has to be said this is usually the case that Pound will drop more, because GBP/USD is more volatile than EUR/USD.
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