Cable Update (GBPUSD)

Keys for next week are 1.9847 and 2.0119
I will go short if 1.9847 is broken, and will go long if 2.0119 is broken

Keys for last week as mentioned was 1.9676 and 1.9822
I mentioned that if 1.9822 is borken so I'll go long, and if 1.9676 is broken I'll go short, and we have seen that 1.9822 is broken and we reached 1.9995 (173 pips) and we had a range of 246 pips

Cable needs good momentum and power to play in the 2.0 area, the nearest low for cable was 1.9621, which is not that enough for cable

Last time when cable reached the 2.0 area it's nearest low was 1.9185, which gave cable a good momentum to reach and stay in the 2.0 area for 11 days

Keys for Monday are 1.9936 and 2.0030
I will go short if 1.9936 is broken Initial TP 1.9875, and will go long if 2.0030 is broken Initial TP 2.0070

I'm still short @1.9990, I rarely leave trades open till next day, specially during weekends but this one I will keep it open till it reaches it's target even if it kept open for days

Besides that Monday is the key of the week, last Monday 1.9822 which was the key for going long was broken, this means that for the rest of the week, the pair will go in the same direction, so for next Monday, if 2.0119 is broken and 1.9960 is not seen at all in this day, so for the rest of the week it will go in the same direction and the 1.9960 or below won't be seen till the end of the week, on the otherside if 1.9847 is broken and 2.0006 is not seen, the same thing happen, sometimes Mondays don't give clear signs when it makes small ranges or there is a holiday

Nice week everybody

not quite the series of epic gaps I'd hoped for

oodles of luck to all

Thanks, same to you and to all traders here

Thanks cesar, same to you and everyone else.

Does anyone think there is a great chance we will see a rally in cable beyond 2.0000 during the London session?

Yes

So long as Chairman Mr B. and the rest of the fed boys don't screw up weds and thurs, it might be nice.

Well it just reached 2

You think it gonna fall back soon?

Here Bravado: http://www.forexfactory.com/showthread.php?t=35370

Long 0002, counting on 9976 as today's bottom. First TP 0025, for a 50 pips range day. R:R 1:1, minimum. Worth the shot

...that's definitely a measured risk worth taking - and it will probably reach 20-25 (maybe even 50 today). but over a short-term basis I'm still bearish. have a feeling the BofE will cop out of raising rates; think the Fed will raise - if not this week, then next month. it's a difficult call...

What are your stops?

9950 for emergency. Will cut it at breach of 9975 confirmed

Actually, breaching of 9975 could bring 9950 minimum into play. So 9975 may be a stop and reverse... Gonna check on it.

just note:
there is a bearish divergence on 4H and it's target is 950

It broked my support line on @1.9972 i am short on @1.9973 first TP around 1.9950, we will see after the news.

my broker said that over chat...Trade Idea - GBPUSD: We have been filled on our order to buy at 2.001 Targeting 2.0075 with a stop offer at 1.9968....
but dailly stohastic shows down, meanwhile weekly up!?...

already short from Friday's (unrealistic) high @19986. down we go...