Cable Update (GBPUSD)

30% per day? Is it working out?

good read. I was out all day not trading but that was a good spot to look for a long

yes, infact, i was expecting a bounce at 2673.

it dropped 5 pips more

now, drop below 2685 will be sell again

Greetings everyone,

GU update from my side. Should be interesting.

Cheers

depends on where we close today, if tomorrow we see the forecast data we could drop like a stone to 12550-126

long 2689.

stop 2683 ( stop 2687 now. lol )
ok, stop edited again, stop 2684. This is final.

Fair enough assessment. I think it's safe to wait for EOD and see what it does. I feel like we are in line for some bullish pressure.

Yes yes yes
Only like that
Small bites

closed all Gold, enough

who else notice the PA in 2024 will end up with low range

Little by little mf

Sell with tiny risk for the end of the day

Tomorrow could be a bigger mover than Thursday and BoE, if inflation has dropped to the 2% area or lower than the pound could drop allowing a dovish BoE. However I’m not too sure.. 128 is open for another attempt

Gu long

First tp about to get hit. We have a possible big upside for gold and gu pairs today.

2690/85 support zone for longs

went short

will close before go to sleep since gbp cpi is tonite

Uk
Cpi today will shape the Mpcs' tone tomorrow.

If less or equal than forecast, We may saw a rate cut tomorrow, given target is met 2.0% goal. However, whether it will be a sustainable or touch and run inflation progress, will wholly depend on the components of the inflation.
If we get an above than forecast cpi, MPC will take the tone of bumpy road, but still the real rate is already huge. So they can still afford to cut, same as ECB, cut one then keep a hawkish tone indicating its not a cutting cycle, unless economic data support the cutting cycle.

So if mpc indicate no cut tomorrow but a cut in August which is priced in onky 41% chance, the shift will be quite huge (70-90pip for mpc).
A hotter than expected might easily shift GU by 120pips today, even if not outright but by new york session, shit will surely goes up.

Not a financial advice and dont try this at home.

The immediate bear set up changes to little bull , may try test the limit up 2737 , so range up possible test limit! Take care
whatever working now , actually waiting confirmation to play the existing swing low. before may range 2679/58 to 2737/60