Cable Update (GBPUSD)

now support for bull goes to 2446 or 44 now last chance , otherwise likely test 2434/30 to 27 last chance to your sl ! take care

...clearly supply has been there on the approach to y/day's hi...how much left if tested again? 4hr still in a general uptrend.


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

Thanks so much, Sir Fontu

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* Price opened the wk above the Wkly pivot and so far has stayed there, but remains below the Mthly and Yrly pivots. Price opened today above the Dly pivot, with one dip below it so far today.
* 98% of 6mth amr traveled this mth as we approach month-end tomorrow. Current mthly hi is likeliest to break if anything - only re it being the nearest to current price @ 2575, with current wkly hi @ 2523/24. 54% of 13wk awr traveled so far this week.

1hr below

Yen pairs on back foot after BoJ speech in the early hours of the UK morning. What I have noticed with the Yen pairs is that after a big drop during any particular session we see some kind of correction.

...so, that wkly bullish multi engulf x 2 thrust candle last wk hasn't exerted much influence over price so far this week, with only a slight thus far failed upside follow-thru on it. Will it have any influence in last 2 days of the trading week?

wkly below

Yesterday I was not watching GU, I was carried away with CADCHF

There was a setup yesterday..

y's daily candle insures that price will go up today

If you have develop a system over the years, You'll start seeing similarities in your chart analysis

CADCHF is going well

Hi, yeh it's got a chance of becoming the 3rd HL (after 2160 and 2293) on the dly t/f, but no absolute guarantee that it will result in an upside move.
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3 x 1hr rejections of y/day's hi now, and a move backdown to the post fomc spike lo pot supp zone with current dly lo (just below asian lo) pot supp zone a 1st 1hr test and hold as supp of it. Daily Pivot @ top of it. To the downside 2384-76 is a 4 fib & Wkly pivot cluster.

EDIT: corrected typos.

dly then 1hr below

opened a long on GU based on a chart pattern breakout .. lets see what will happen

Hi, you are obviously hoping for a 3rd truer upside b/o of that pattern on your chart. Good luck with it.
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There is a repeating pattern of bullish hidden div on 4hr @ y/day's lo. This will succeed or fail to make a new uptrend hi above 2523/24 current wkly hi, but will not be there on that t/f (re shape of the osc's,) if price tests lower than y/day's lo. Re next higher t/f in that t/f combo, - the dly, well no real 'established' uptrend yet, but 2 x HL's and a HH on the t/f, so could be developing?

Still waiting for 2432/ 30 if not 2415 !! Take care
Similarly eurusd breaks and hold try for 0405 for bottom test! So failure hold 2430 gbpusd to retest bottom likely!!
Before this decision have , no more trade for me !
Breaks 3430 and eurusd 0405
As eurusd testing previous low after pullback and reject to here more likely no further pullback before next sr down 0342 !! So may continue bear for now !

If so then gbpusd may to initially test previous 2392 ! All go fast !

...speaking of hidden div (which I was in post above,) there is an historically weaker opposing bearish hidden div on dly t/f @ 2523/24 current wkly hi which may stay valid whilst below 2575-current mthly hi, on any higher upside move. Given last wk's wkly candle, as discussed in a post earlier today, would you have to favour the upside generally?

dly below

More fireworks later I suppose. Back in time for the fun.

GBP/USD.. Ranging

...bulls are struggling. Can they find some liquidity deeper in the immediate post-fomc spike lo potential 1hr supp zone ?

1hr below