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Cable Update (GBPUSD)

  • #820,481
  • Apr 6, 2024 12:56am Apr 6, 2024 12:56am
Quoting suhas316
Weekly chart GBP/USD for next week I think 1.25200 is imp support As you see rejection from weekly trend line I think GBP/USD trend will be down from long term perspective.... {image} {image}
MN is slightly confusing.
Weekly TF is still bullish.
Daily TF is bearish.
H4 is bullish and until that H4 support is taken out there's no worry about price dropping further.

However, since forecast for CPI is annoying 3.5% I don't see a bad case for USD, because whatever the number comes out it will be higher than the prior one at 3.2%.

Wait a second! Forecast for CPI Y/Y lowered to 3.4% from 3.5%!

They miss CPI Y/Y from -0.2 to +0.2 the most, so there's a case to be made that CPI might come out the same at 3.2% again,.but I doubt it. Since it was 3.5% forecast, then lowering it only gives USD more chance to go up.
  • #820,482
  • Edited 1:52am Apr 6, 2024 1:39am | Edited 1:52am
I believe 1.246 will be the target they're going for and we'll see if that is true next week. USD/JPY will break 152 and clean all orders and SLs and then reverse. 1.23 is out of the question at the moment, because 1.246 is a strong support and we have Japan that will not tolerate USD crushing JPY anymore. They are keeping USD/JPY in check while they're pushing every other JPY pair higher and once they release USD/JPY above 152, then we'll see...

I will go through every USD pair I have and DXY and see what the charts suggest is likely course of action. Why only look at one pair or two? The more the better.

We are very close to the reversal on USD pairs in my opinion (USD going down).
  • #820,483
  • Apr 6, 2024 3:48am Apr 6, 2024 3:48am
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  • #820,484
  • Apr 6, 2024 7:21am Apr 6, 2024 7:21am
Quoting Whatevs
{quote} I'm still staying with the June rate cut prediction. This is when all of the major central banks have a meeting; Fed, BoE and ECB.
I agree with what you say other than the premise central bank controls interest rates. Interest rates are controlled by the free market and therefore by the higher than 2% inflation rate.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #820,485
  • Apr 6, 2024 7:26am Apr 6, 2024 7:26am
Quoting _BBKing_
I cannot really believe that in a world built on debt, the way to fight rising prices is… rising interest rates. Don't you see the sickness behind this? .
Money value is going down, not price up, as too much is being created. Higher Interest rates destroy money creation, it is that simple.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #820,486
  • Edited 8:34am Apr 6, 2024 8:13am | Edited 8:34am
Look to the free market for the outlook,
You cannot do QE with an elevated CPI, which is the only way to stop the move, the FED is a passenger right now.
Powell SHOULD be telling the Gov you're spending too much, and that just proves how independent they are.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #820,487
  • Edited 10:24am Apr 6, 2024 9:06am | Edited 10:24am
Bones is flexing again after a -250 pip DD He made a great deal out of my 50 pip DD but look at him lol

I won't ruin his fun, he must be feeling a big relief after a -250 pip disaster.

He is late to the bull party though. We bulls already banked over 100 pips since last week.

Edit: wait lol he still has -170 pip dd since his green weekly bar close is at 1.28
You have to have an IQ higher than 90 to interact with this user.
  • #820,488
  • Apr 6, 2024 9:30am Apr 6, 2024 9:30am
i see theres alot of worthless talk about USA debt and bond yields again on another Saturday by foreigners whose own countries are in worse shape than mine LOL

hows that brexit working out for you bonzey

bonzey reminds me of a squawking parrot with his weekend charts LOL
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so please gentlemen do you're own homework and research and not rely on dipshits like bonzeys apocalyptic doom and gloom world view...he's so miserable with his own life he wants others to be the same LOL

yields haven't done shit in the big picture...they've just returned to the historical norm after all those years of low interest rates
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short trump and go long the deepstate
  • #820,489
  • Apr 6, 2024 9:34am Apr 6, 2024 9:34am
Quoting Nordling
Bones is flexing again after a -250 pip DD He made a great deal out of my 50 pip DD but look at him lol I won't ruin his fun, he must be feeling a big relief after a -250 pip disaster. He is late to the bull party though. We bulls already banked over 100 pips since last week. Edit: wait lol he still has -170 pip dd since his green weekly bar close at 1.28
nordling...can you do me a solid and not try to steal my troll...bonzeys mine ...you have ferna LOL

just kidding...I'm waiting for the day bonzey deletes his posts like your guy does LOL
short trump and go long the deepstate
  • #820,490
  • Apr 6, 2024 9:46am Apr 6, 2024 9:46am
heres a longterm dollar chart...it isnt the end of the world as we know it either Z

if the dollar does ever fall below 70 than that's when the world will prolly end from wars and nuclear armageddon

I drew this chart on the monthly but if you flip to 6 month midyear chart you'll see my support line is an ICT fvg area so every one of those beginners that learned his crap should be bullish dollar too
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short trump and go long the deepstate
  • #820,491
  • Apr 6, 2024 9:48am Apr 6, 2024 9:48am
Quoting Bones
{quote} Money value is going down, not price up, as too much is being created. Higher Interest rates destroy money creation, it is that simple.
yes ok.
my point is from the standard consumer point of view. Or let’s say, from the end of the chain point of view, be it consumer or enterprise or whatever.
thing net prize rises. Due to oil, imports, and many factors. Also, decrease in money value of course. It’s a sum up, it’s not a single factor.
what comes out is that in last 2 years or so, whatever the reason, I go to the supermarket form my family and I spend A F.LOT more than 2 years ago and even than 1 year ago. House bills are somehow doubled in average. Home mortgage I cannot really believe the amount of what we pay now.
Dinner out in 4 is approx 100€ when we are lucky. A McDonald is 60/70€ a pizza is 100€, restaurants is 200/240€.
My point is not about the reason, it’s about what we have today and how much will this be sustainable being payrolls the very same than 2 years ago.
This is really out of control imo.
90% of traders use TA, indicators and prediction
  • #820,492
  • Edited 10:08am Apr 6, 2024 9:53am | Edited 10:08am
Quoting Zebi
heres a longterm dollar chart...it isnt the end of the world as we know it either Z if the dollar does ever fall below 70 than that's when the world will prolly end from wars and nuclear armageddon I drew this chart on the monthly but if you flip to 6 month midyear chart you'll see my support line is an ICT fvg area every one of those beginners that learned his crap should be bullish dollar too {image} {image}
I like poking gentle fun at ICT traders... cause ICT stole pretty much everything from edwards and magee and just renamed shit and making money off utube views cause he doesn't trade his shit just like gann and elliott didn't trade their crap LOL

my advice is to buy their book and read it...its 800 pages thick ....its the bible of technical analysis so once you learn it you can be dismissive of dipshits in this room like I am
short trump and go long the deepstate
  • #820,493
  • Apr 6, 2024 10:07am Apr 6, 2024 10:07am
i dont see gbp getting back to that brexit vote level until it tests the lows first

and a new vote to return into the EU
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short trump and go long the deepstate
  • #820,494
  • Apr 6, 2024 10:13am Apr 6, 2024 10:13am
Quoting Zebi
i dont see gbp getting back to that brexit vote level until it tests the lows first and a new vote to return into the EU {image}
That low is an important double bottom btw
going back to 80’s
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90% of traders use TA, indicators and prediction
  • #820,495
  • Apr 6, 2024 10:14am Apr 6, 2024 10:14am
Maybe 1.23/1.24 area
90% of traders use TA, indicators and prediction
  • #820,496
  • Apr 6, 2024 11:51am Apr 6, 2024 11:51am
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  • #820,497
  • Edited 12:28pm Apr 6, 2024 12:00pm | Edited 12:28pm
Quoting Bones
All he had to do is say Bones is the best trader ever, I would have let the Headland bit go, as no one has a higher than 98% win rate. So, Gold Just checked my platform and his short is £12,500 in-the-red if it were 1 lot. Let's think about how people accept no-detail trades as something above actual analysis. All the other newbies come right on in and back him up. He's a live trader. Were talking about a red runaway trade the moment he opened it and came to Cable Update to talk about it, goading. It's bullish...
Quoting Bones
update, my weekly is positive 7pips so say sorry, Bones is the best trader ever...even better than Headland who has a HUGE ego and I won't mention Gold ever again how about that? {image} {image}
Quoting Zebi
{quote} I'd rather stab my eyes out with a hot poker bonzey than say something that ridiculous LOL
bonzey...it seems you have difficulty getting along with people? ...me headland and nordling...why are you having issues with interpersonal relationships between colleagues

here's a definition:
Interpersonal relationships refer to reciprocal social and emotional interactions between the patient and other persons in the environment. Almost every mental disorder is accompanied by problems in this respect. Frequently a basic cause of conflict with other people is the presence of some psychiatric disorder.

i took psychology courses in college so ill attempt to analyze you...please lie down on the couch and we'll begin

I think everything stems from ones childhood and how one grew up ....there are a lot of characters in this room but ill stay to you and nubcake

nubbies the grownup version of the kid in grade school who would taunt older classmates and then attempt to run away before he got beat by them that's why he pops in from time to time has a mental and emotional meltdown and disappears after annoying everyone.

you strike me as the kid that never got picked on teams or if you were you were the last one chosen and its given you an inferiority complex which is why you want me and headland to call you the best trader ever ...once you accept its your genes that are responsible for your lack of physicality and mental acuity you can move on from these grudges you have against people who at times all they did was disagree with your views

nubcakes attacked me in the past and I just ignored him since he means nothing to me...superman does the same ...yet you carry on a fued with people when all they did was try to warn you that those weekly 3 black crows in September of last year on your charts were nearing support so they might turn out bullish.. i don't know what your problem is with nordling but I do know headland disagreed with you about something which I vaguely remember but I'm too lazy to search why exactly

are strangers opinions that important for you ?
short trump and go long the deepstate
  • #820,498
  • Apr 6, 2024 12:02pm Apr 6, 2024 12:02pm
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  • #820,499
  • Apr 6, 2024 12:20pm Apr 6, 2024 12:20pm
Quoting _BBKing_
{quote} yes ok. my point is from the standard consumer point of view. My point is not about the reason, it’s about what we have today and how much will this be sustainable being payrolls the very same than 2 years ago. This is really out of control imo.
I agree, it's a stealth tax on the majority, it's a wealth transference from currency bearer to asset bearer.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #820,500
  • Apr 6, 2024 12:40pm Apr 6, 2024 12:40pm
Quoting Wavegarrick
Getting sell trade confirmation signals at 1.25676 from a 4 hr perspective. My weekly pivot at 1.26230 is 55 pips away and can be looked at as sell opportunities. Trade safe.
Trading the first quarter of the year has been a slog and pain in the butt. Time to step back and look at the broader picture. From a weekly perspective GU is contracting in a narrow range between 1.27000 and my yearly pivot at 1.25569. Notice the weekly rejection off 1.25569 with a higher weekly candle close. I tend to lean more to the upside but a weekly candle close above 1.27000 or below 1.25569 (yellow highlighted area) will be crux in price moving forward in the 2nd quarter of this year. Patience once gain of utmost importance here to catch the trend.
Trade safe.
Cheers.
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