Cable Update (GBPUSD)

G/M, y/day's bearish dly candle close made for a 1st HH (after 2 x HL's) on this t/f, @ last wk's 2523/24 hi. So far today a slight false 1st upside breach of the asian hi deeper into a prev 1hr sw hi zone (x 1 tested now) = prev res = pot res was made. and then an immediate early London session move down, testing a prev 30min sw lo zone (x 1 tested) = prev supp = pot supp @ current dly lo, this after 1st downside b/o of the asian lo. This zone is coexistent with others to it's downside. Y/day lo and hi remain untouched so far today.

1hr below

...gmt+2 price feed 4hr bearish multi engulf x 7 candle close testing bottom of a prev 1hr/minor 4hr sw lo zone = pot supp to y/day's lo now.

4hr below

GBPUSD

hitting support now

Attached Image (click to enlarge)

GBP/USD 4Hour perspective.. warning thats a Reversal

bought gbpusd at 1.2411... target 1.2461

...So, in respect of breaks; 2nd upside break of last mth's 2475 lo is false to the dly t/f, and 1st upside b/o of last wk's 2502 hi is similarly false to the dly t/f. Now we have a slight (so far) 1st downside b/o of y/day's / the current wkly lo, after 1st today - the asian lo downside b/o.

next swing load up zone below

...2 x fibs and Dly S1 cluster starting @ current dly lo down to 2405 in a prev 1hr sw hi then lo zone = prev res = prev rbs = prev supp = pot rbs/supp.
Some demand there- probably triggering some tight retail sell stops, and maybe buy limits under y/day's lo? Upside move is in shadow of that last bearish multi-engulf x 7 4hr candle.

1hr below

nearly all the pairs on my watchlist in red so far today. Not sure if this is a liquidity thing for FOMC or the general direction. I feel for GU anything dovish we could see 125-126

GJ seems to be on lip service of UJ and GJ at the moment.

32 pips from signal

...wider view of the 4hr.

4hr with 10/20/40 ema crosses graphic below

CABLE

Scalp a bit before the main event later.

CADCHF LONG

...you can see how sellers were waiting @ the prev 30min sw lo x 2 (ie once tested and held as supp) zone = prev supp = pot sbr.
How strong are the bulls now? That last 4hr close (shown on 4hr chart in a post above this one,) is the 'spectre @ the feast' for the bulls?

1hr below

GU H4 is long. H1 was short from late evening 27,but it looks like flat,not strong trend.23800 can be.

Hi, I would tend to agree, ie; as of right now - 1hr is rangy to currently bearish overall, 4hr is in a weakened general uptrend with what will be a 1st LL @ current dly lo or lower, (when it forms fractally,) and dly is in a weakened general downtrend with the 1st HH @ 2523/24 current wkly hi, (after 2 x HL's.) Intraday is bearish overall so far today.

CADCHF Analysis, anticipate!

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