Cable Update (GBPUSD)

Short in at 1.2794 target 1.2775

A potential bounce zone after further retreat

hello my friends..Its june and im back

long entry price around 2775/70

stop 2750

tp 2900

And oooh look what happened to cable when it ran into the 200 ema (red). Do think it's going to break out of this channel at some point and go on a north bender.

mmm, lets try the AU short this time. But I wont hold my breath as it has already moved about 35 pips from its high. Missed the top because asleep. Lets see

holding onto longs. stops moved to break-even. Will turn bias short at those levels

Gu short

Possible turbulence for shorts here as EU hits 1.0800. Hold on

Added a few shorts.

My gold got stopped.

GU support zone 1.2750

Scalp gold.

So breakout and further correction down towards 2768 limit , apparently top failure possible and may not able make new high without extreme news again ! Now probable sr 2773 areas for bounce 2820/40 as weak bull and as may last leg up ! Signal for bounce breaks up and hold 2800.Take care
Eurusd similar but may correct further down towards 0780 before bounce , if so gu may even breaks limit 2768!

the green area will be nice buying spot, final push...or not!

it's all about how to break the market puzzle

Close all and leave 1.
Tp 2304

Summary of important parts of FOMC yesterday:

1. Inflation Control: The top priority remains controlling inflation, with no rate cuts expected until there is clear and sustained progress towards the 2% target.
2. Economic Growth and Labor Market: The economy is growing steadily with robust job gains, but potential risks necessitate caution.
3. Balance Sheet Reduction: The pace of balance sheet reduction will slow to ensure market stability while continuing to reduce the Fed’s holdings.
4. Data-Driven Policy: Future policy adjustments will be based on thorough analysis of economic data to achieve the Fed’s dual mandate.
5. Market Stability: The Fed is committed to financial stability and is prepared to adjust policies to mitigate risks.
6. Long-Term Outlook: The Fed is cautiously optimistic about sustaining economic growth while gradually reducing inflation to the target level.

Looks like FOMC Members are very cautious since Inflation rates is nearing the target 2%. So they want to do something to make sure the inflation target is meeting while the impact of economy is also minimizing.

wwooooowww!!!

Ah damn GU just went down without going to 1.29. Congrats to those who caught this. ill be watching with FOMO on the sidelines