Cable Update (GBPUSD)

It depends. Hopefully GBP fails with his speech

Can’t see any impact until the data tomorrow.

So I don't know if you answer messages or not so ill ask you here and if I'm not allowed as its not GBP ill not do it again but you mind looking at USD/CAD? Using the system you have...Thinking it has potential to hit the top trend line for 200 pips....maybe a SL at say 50 pips?

Thesis is if USD get a pop then it will pop on this pair as well.

Thanks,

very important data should impact on GU.

Price can go down from here 2715.

GU

no problem let happen ! trying best and not success yet , till then it is bear and may continue bear any time! and whenever it able do reverse we will gladly follow ! let it go there !speakers may telling left and right !

just under 12 hours for the data ..nothing gonna happen between now and then

..just @ desk updating charts. I see price dropped down to the prev 1hr/minor 4hr sw lo zone = prev supp = pot supp that extends to y/day's 2685 lo and found strong support, resulting in a run-up to just beyond the prev 1hr/minor 4hr sw hi zone = prev res = pot res that extends to y/day's 2525 hi, but the b/o proved false (to 1hr so far,) as resting orders were met that acted as supply, taking price back down.

Hopefully we'll see an increase in volatility for the last 3 days of the trading week starting with Tomorrow's Uk Cpi/Rpi/Ppi releases. Any overshoot on the forecast could well see a sell-off with any undershoot potentially seeing more gain for gbpusd?

The prev dly sw hi zone that starts @ 2709 and extends down to circa 2677 is still intact on that t/f as pot rbs. Below that on same t/f the same (but a wider zone,) starting @ 2634 and extending down to circa 2551. Above the current dly hi on the same dly t/f there is a prev dly sw hi zone = prev res = pot res that extends from circa 2787-2804, and this is coexistent with a prev minor dly sw hi zone that extends up to 2823. We could well see a 3rd consecutive bullish-bodied dly candle close later.

1hr then dly below

...

below taken from the London evening Standard.

So checking what happen today or may happen this week in the light of weekly doji hypothesis to stop bull train temporarily ! Daily continue making doji , so far weekly in perfect star formation , range increases may still may make doji if indecision here continues. so no one win this week so far ! So all new to start next day !
While usdx not shape of a doji stop , only hope some bounce at daily doing , weekly tl not yet , may ready break even , so usdx likely readily continue bear even spike up some more . And if so ,not needed others to have a doji stop try , may continue weekly bull. So eu , gu , gold more possibly continue bull without much care at least this week .

gbpusd not moving...
whats the best pair now ?

Is anybody finding 2.1% CPI expectation for GBP weird? Since December they managed to come down from 4% to 3%, that took 4 months. Now in one month they are expecting CPI to drop another percent. Not sure what to make of this.

They are looking for a reason to spike it another 100 plus pips

I kinda agree...could be one of those over expectations under previous just to get us confused enough to either buy or sell and go the opposite way with it....then say we'll this is why it did what it did....I love the news bullet where they justify moves.

Hello Guys,
today might not be Good idea to buy Pound,
if i were you i will be looking for the High on News and then sell.
well i am not Sure how high for fast it may react to the news,
but remember even Above expectations of forecast is still Lower then last time,
so any more up Might be just a spike
and then there is Home Sales,
and the FOMC minutes also.
trust me today can be tricky,
just remember "leverage is Poison"
just my 2 Cents.
good luck Guys.

Hey:! What you do think will Data come positive or negative (what are you expecting about today News )

Nothing. Don't think. Just wait. Don't get in the way of the data release. Just let it show you what to do after the fact

Yes, trade after the fact

Even if assume a doji day , all attention goes to usdx ! Bouncing at an 45 degrees with functions of doji indecisions again , have to prove if can breaks and hold 104.70 for the day otherwise may tank to directly bottom as 45 degrees range maximum! Or still have doji to survive for the day . So usdx to pass or fail , not got support retest so not very good shape for bounce any great and always to be in fear of tanking .take care

GBPUSD
High of day (May 22, 2024) should be at 1.2748
Sellers should be waiting there.
Happy trading everyone.

Expecting it to go up first since we have stuck at open price for days