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Cable Update (GBPUSD)

G/M, looks like a genuine gap down @ the new week's open, (not just broker spread widening,) and an early false 1st downside b/o of Asian lo to the current dly lo (@ a 4 fib cluster) which was maybe some liquidity/stop hunting by early London traders under that lo, re the subsequent run-up to Asian hi/current dly hi @ base of that gap, where sellers have been encountered.

1hr below
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Intraday swing scalper (+) via 1min+ repeating set-ups
Quoting ThaoAnh
{quote} {image}
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...other than the prev 30min (+) sw hi's = pot res, and prev 30min (+) prev sw lo's = pot sbr above last wk's 2502 hi, the following secondary and tertiary potential res factors exist.

pot res factors per graphic below
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Intraday swing scalper (+) via 1min+ repeating set-ups
So though risky still waiting bounce target !
Gbpusd over 2477 / 87 and eurusd 0498
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Quoting BeeTogether
{quote} From a resistance perspective the psychological areas of 125 and then 12530 should be the areas today that we could see. This gives a pathway for a higher move. Not much in data today either that could derail it
or bounce from 1.253 to the 1.237- zone
Always follow your own shit
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yes yes yes
Powerful breakout. Stop below the level
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Figures only
Quoting trumps
Someone mentioned earlier the monthly pivot nearly always gets tested. It looks like that's the plan this week. It coincides with resistance and the 38.2 fib. Looking at the current structure, I don't think we will get too much of a retrace before moving more north. The grey zone looks like a spot where buys maybe gathered. {image} {image}
Monthly pivot above around 1.26
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Compulsions can be hard to resist
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yes yes yes
i will not be greedy and will take this nice profit
yes yes yes
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yes yes yes
Quoting trumps
{quote} Monthly pivot above around 1.26 {image} {image}
Hi, thanks I'd missed it somehow. Current dly hi testing last wk's hi right now. Price is back above last mth's 2475 lo, so 2nd dly downside b/o of it proves false. 1st upside b/o of Asian hi remains true, for now @ least. 2575 is current mthly hi.
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Intraday swing scalper (+) via 1min+ repeating set-ups
Quoting BigNumbers
Powerful breakout. Stop below the level {image}
TP 1.25444
Figures only
I shorted the pound-dollar but is it quite painful?
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I really don't know that red TL will hold.
This looks aggressively bullish
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Compulsions can be hard to resist
Entered new bull set up for next bounce target 2576!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Sold 1.2505
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
...slight upside break of last wk's hi to a prev 1hr minor sw hi (s) zone = prev res = pot res from 7th Jan, and that aforementioned 85.4% fib @ 2506.
The dly part of the prev 1hr/4hr/dly sw hi zone = pot res that extends up to 2575 current mthly hi starts circa 2526. 4hr and 1hr parts of the zone are much less wide and start higher up.

1hr below
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Intraday swing scalper (+) via 1min+ repeating set-ups
Very weak USD bodes will for Pound, can see this pushing all day at this point
Took short
1.25054 is an old resistance
Price can fall even to to 1.23700
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yes yes yes
  • #851,800
  • Quote
  • Edited 6:05am Jan 27, 2025 5:52am | Edited 6:05am
...there may have been some buy stops (particularly retail) just above last wk's hi - ie leading up to current dly hi, but maybe few sell limits there. One or both types of orders are maybe a bit higher up or not exist at all there? Any selling @ current levels will need some fresh market orders to be placed?

EDIT: widened out chart screenshot

4hr below
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Intraday swing scalper (+) via 1min+ repeating set-ups
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