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Cable Update (GBPUSD)

  • #830,141
  • Jun 21, 2024 2:09am Jun 21, 2024 2:09am
No GU for me.
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  • #830,142
  • Jun 21, 2024 2:23am Jun 21, 2024 2:23am
Quoting ScalaFX
{quote} all active! I like it, waiting for some action
same here. Hoping for some rebound action around these levels. if so, looking to buy from 2650
  • #830,143
  • Jun 21, 2024 2:32am Jun 21, 2024 2:32am
Risky to catch a falling knife. GU
  • #830,144
  • Jun 21, 2024 2:37am Jun 21, 2024 2:37am
trap zone open, dont be in the wrong side of the market, opened next buy 2640 to my long net, cheers!
P.S. price can fall some more becouse bad data
People don't plan to lose. They lose because they don't plan.
  • #830,145
  • Jun 21, 2024 2:40am Jun 21, 2024 2:40am
Everybody stay calm! Don't pinac! Pnic! Picnic! DUCK!!
  • #830,146
  • Jun 21, 2024 2:41am Jun 21, 2024 2:41am
As thought final confirmation breaks smooth 2641 , immediate sr 2615 before 2574 .
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #830,147
  • Jun 21, 2024 2:52am Jun 21, 2024 2:52am
Here's where the rubber meets the road. Euros can be used to settle contracts. GBP can't. Moreover, the SNB will support the Euro against the Pound.

The witch hard at work
  • #830,148
  • Jun 21, 2024 2:53am Jun 21, 2024 2:53am
Gold waiting with limit at 2370 to sell
People don't plan to lose. They lose because they don't plan.
  • #830,149
  • Jun 21, 2024 2:56am Jun 21, 2024 2:56am
Quoting BeeTogether
So UK data smashes forecasts has a brief spike then back down. Something a bit manipulative here, BoE indicated an August rate cut and we drop nearly 30 pips before a late drop towards 12650. Could be a fry day where both sides get burnt Don’s chart could be right
Hi Bro,
Yes, I think BoE may want to go for cutting rates in August.

The Pound is getting stronger because UK Retail Sales in May grew more than expected.
Retail Sales show strong demand despite high interest rates, which could push prices up and worry the BoE.

The BoE kept interest rates at 5.25% with a 7-2 vote.
They said inflation could reach their 2% target in three years but noted high price pressures in services.

Markets expect rate cuts in August, possibly after elections where the Conservatives trail Labour by about 20 points, according to Reuters.

Market are waiting for the UK's June PMI data at 08:30 GMT, expected to show a slight increase.
The US Dollar fell as May's inflation and Retail Sales data increased bets on September rate cuts.

Next, US Dollar will react to June's PMI data, expected at 13:45 GMT.
The Composite PMI is likely to dip but stay above 50, showing expansion despite slower growth in manufacturing and services.
Weak numbers could boost Fed rate cut bets for September.

This is my guessing for GU.
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p/s please open the trap door for us.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #830,150
  • Jun 21, 2024 2:57am Jun 21, 2024 2:57am
long 2642
Intraday only.
  • #830,151
  • Jun 21, 2024 2:58am Jun 21, 2024 2:58am
Maybe hit some GBP news trader stops.
Earlier US Data was red, but still an improvement on previous month.
I’m thinking we could dip below 1.26 today
Compulsions can be hard to resist
  • #830,152
  • Jun 21, 2024 2:59am Jun 21, 2024 2:59am
Quoting Pat Chiko
{quote} Hi Bro, Yes, I think BoE may want to go for cutting rates in August. The Pound is getting stronger because UK Retail Sales in May grew more than expected. Retail Sales show strong demand despite high interest rates, which could push prices up and worry the BoE. The BoE kept interest rates at 5.25% with a 7-2 vote. They said inflation could reach their 2% target in three years but noted high price pressures in services. Markets expect rate cuts in August, possibly after elections where the Conservatives trail Labour by about 20 points, according...

from a summary that makes sense however this is the trick question.. was the GU over bought for pretty much the data to cancel out each other? And hence a 200 pip drop from last weeks high
Insane in the Brain..
  • #830,153
  • Jun 21, 2024 3:07am Jun 21, 2024 3:07am
Quoting Pat Chiko
{quote} Hi Bro, Yes, I think BoE may want to go for cutting rates in August. The Pound is getting stronger because UK Retail Sales in May grew more than expected. Retail Sales show strong demand despite high interest rates, which could push prices up and worry the BoE. The BoE kept interest rates at 5.25% with a 7-2 vote. They said inflation could reach their 2% target in three years but noted high price pressures in services. Markets expect rate cuts in August, possibly after elections where the Conservatives trail Labour by about 20 points, according...
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People don't plan to lose. They lose because they don't plan.
  • #830,154
  • Jun 21, 2024 3:08am Jun 21, 2024 3:08am
Tempted to go long however , this could be trying to catch a falling knife. Let’s see if the data in 20 mins gives an indication
Insane in the Brain..
  • #830,155
  • Jun 21, 2024 3:09am Jun 21, 2024 3:09am
Quoting BeeTogether
{quote} from a summary that makes sense however this is the trick question.. was the GU over bought for pretty much the data to cancel out each other? And hence a 200 pip drop from last weeks high

measure the last 6 months h and low

we are above the 50%


i expect gu to go up and back 1.25 after summer holiday

its very happen when big players are out low volume will drag price up
MY OPINION NOT FINANCIAL ADVISE
  • #830,156
  • Jun 21, 2024 3:11am Jun 21, 2024 3:11am
Retesting 265
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  • #830,157
  • Jun 21, 2024 3:12am Jun 21, 2024 3:12am
Quoting BeeTogether
{quote} from a summary that makes sense however this is the trick question.. was the GU over bought for pretty much the data to cancel out each other? And hence a 200 pip drop from last weeks high
GBPUSD is already trading circa 20 pips below the immediate high after the retail figures came out. It looks weak to me
and most likely continues bearish from here.
Yes im enterd short so can be judged as biased.
Its all just one persons opinion
  • #830,158
  • Jun 21, 2024 3:17am Jun 21, 2024 3:17am
Quoting BeeTogether
Tempted to go long however , this could be trying to catch a falling knife. Let’s see if the data in 20 mins gives an indication
I have been adding up from these lows up to my initial entry. Today's PA suggest a heavy BULL. I'd be crazy to sell it tho. I mean, yesterday PA was congested like mad
  • #830,159
  • Jun 21, 2024 3:17am Jun 21, 2024 3:17am
Quoting mallee
Retesting 265{image}
Closed. I'll sit and watch.
  • #830,160
  • Jun 21, 2024 3:18am Jun 21, 2024 3:18am
1.26100 taking too long to play out, bear seem to be losing steam. patience to wait if not today next week
Keep the Lights on then you can catch the rise from the dark.
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