Cable Update (GBPUSD)

That push to 1.2839 yesterday was another classic manipulation to trap new set of buyers and get price crashed back down to make new lows, what an explosive start to August. There should be calm from next week.

Man, hi. I am still in..... Deeply in red in BP. --- E. behaves better. Patience. They stretch the rubber band to is limmit..................

G/M. Big > 30day adr bearish thrust dly candle y/day then. So far today Asian session makes a false 1st downside b/o of y/day's lo and price is now between the Asian lo and hi in early London trading. The Asian/current dly lo is @ a 3 fib cluster, just below that prev 4hr/dly sw hi zone = pot rbs that started @ 2840.

Dly then downside fibs graphic below.

E. and BP 5' --- SLs as shown 1.07 84 and 1.27 16

1.27800 Sell Area
Find Bearish confirmation at that level
with Target 1.26600

...4hr and 1hr are in general downtrends, and dly will print a 1st LL @ some time after the 2 x LH's so that t/f too is bearish. 119% of 13wk (1/4yr) awr traveled so far this week, on this the last trading day of the week, with U.s Nfp to come.

4hr below

...bullish regular div in the 5min - 1hr osc's @ current dly lo, with 4hr very o/s, bullish hidden div on the dly.

1hr below

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Scalping M5 Falling Wedge Pattern Complete

...price challenged the Asian/current dly hi and met with supply, now challenging the prev minor 1hr sw lo zone that extends down to Asian/current dly lo, = pot supp. Is this the sell-the-rally move after the p/back of the big move down re 30min bearish hidden div?

1hr below

Pa now, overall 2700 test imminent , next 2665 possible soon too

...re upcoming U.s NFP, as usual it depends on all kinds of variables re market reaction, such as;

a. Headline # and divergence from forecasts and previous
b. Any revisions to prev # up or down
c. Un-emp rate

and less important (in context of, and rather overshadowed by above data,)

d. Av Hrly earnings.

I'll be looking to get involved with any definite one-sided momentum on the initial knee-jerk (broker spread and 1min+ candle formation allowing,) then it's a case of favoured plays, (should they set up,) of 1. Buy/sell the 1st Lo/Hi, -then- 2. Sell/Buy the 1st pullback Hi/Lo, respectively.

Good luck if you get involved, but remember Flat is a position too if you are unsure, and trade what you see not what you think should be happening.

As testing 2700 , abounce towards 2740 may possible , take care

Long 1.2710 SL 1.2680

My support at 1.2690

GU: H4- Downtrend Continued.
Trade Safe.

...price @ currently dly lo has entered top of a wide prev 1hr sw hi zone = pot rbs (from 1st July last,) that extends down to circa 2686, and contains other stuff like Dly S1 @/around 2699. Stop sweep under Asian lo there as new current dly lo printed and 1st downside b/o of that Asian lo proves false. Asian hi remains current dly hi presently.

4hr/1hr below

waiting sell at resisten level. Patience guys...