Cable Update (GBPUSD)

yeah key levels 96.5 tl /93.5/92 . may bounce next year a s pullback , may not success and may restart at 90 in 2027! so likely no easy bounce as pullback , no bull yet !

Today pa , better back 100 before down , so may next week!

Curious anyone can answer.
why can gold dump so much but yet dollar is not moving up?

Easy - Supply and demand!

Gold falling because US & CHINA talking about a deal. drop of gold price does not mean necessarily DXY must go up.

The easiest answer that suits price movers

Let me add that sometimes there may be a delayed but sure reaction in DXY.

But both countries talking about no deal was equal to a dump in DXY. So no, none of those explanations mean anything. It's simply liquidity. That's what leads everything else follows.

Acc blown gg nights all
just as I lose my position the price move in my favour
naise

What is DXY

[quote=Wavegarrick;15209738]{quote} 1.27500 it was to the downside, and I closed two sell trades at decent pips profit. I await my next move. Time is of essence. Cheers. {image]
Gu upside on my radar,
Cheers

Looking at the megaphone pattern formed by the last 5 candles on the hourly chart it feels like price wants up. Megaphone patterns are usually continuation patterns so higher prices might be coming. However, I am not buying it.

At this point, especially over in EURUSD good or bad trade war news doesn't matter. It just runs up. Thankfully I'm not holding a trade there, either.

Now or its a bull
happy weekend

mmm talk of sitting on your hands, and being choosy as not every thing on the menu is yummy from one customer to another.nice weekend

gold not dumping yet any , strong bull set up at top , limit may 3167 , if not 3245 . and at last may even 3065 all ok as correction .
similarly usdx for corrected down not enough or better say reversal not confirmed yet . lets see . ok now over 100 before next down for 96.5 usdx may next week or so.take care , lets see

99.200 has done it again

W/e summary and analysis.

* 151% of 6mth amr already traveled so far this mth with 3 trading days to go till m/e. Mthly candle still forming therefore, but so far looking bullish in nature.
* Small pip range week just closed, (79% of 13wk awr was traveled,) results in a hammer type candle on that t/f (with a bullish body.) 3 x HL's above the 2100 current yrly lo on this t/f, and what will be a H when it forms fractally at last wk's 3424 hi or higher. So, this t/f looks bullish, but when you look @ it overall on a longer time horizon it looks more rangy in a slight rising and wide channel - recently bullish?
* No upside follow-thru on Thursday's dly bullish thrust candle close, (as yet,?) and Fri's < 30day adr dly candle closes as an inverted hammer/hanging man type candle? the t/f closes the week in a general uptrend, with the week's 3234 lo becoming a HL and the wk's 3424 hi becoming a HH on the t/f now.
* The 4hr t/f closes the week out in a messy 'consolidative' general uptrend. The wide 4hr part of the prev 1hr/4hr/now minor dly sw lo zone = prev supp = pot supp that extends down to the wk's 3234 lo has been tested twice, now and held as supp, at successively higher points within it.

* The prev 4hr/dly/wkly/mthly sw hi zone= prev res = pot res that extends up to last yr's 3434 hi was tested once (on Tuesday gone) @ the wk's 3424 hi, and held as res on that 1st test of it.
* Price closes the week out above last Wk's Pivot, above the current Mthly R2, and above Yrly R1 (which is @/around 3197.)

Hope everyone had a good trading week just closed.

Mthly, Wkly, Dly, and 4Hr, below.

Can you tell me the gold is Bullish or barish according to all time

The market sentiment remains predominantly negative as the ongoing trade war between the United States and key global partners intensifies. The US has imposed tariffs on imports from Canada, Mexico, and China, which has disrupted global trade dynamics. While three major US automakers saw a one-month delay in tariffs on automobile imports from Canada and Mexico, the uncertainty continues to drive investors toward safer assets. This week, US economic data will conclude with the University of Michigan (UoM) Consumer Sentiment Index and UoM’s Consumer Inflation Expectations report. Analysts predict a decline in the sentiment index to 63.1, down from 64.7, as the fallout from President Trump’s tariff policies weighs on consumer confidence. Additionally, inflation expectations for the next five years are projected to remain high at 3.5%, well above the Federal Reserve’s 2% target, suggesting concerns over long-term inflation persist. On a positive note, the US labor market remains relatively robust, with the latest Initial Jobless Claims report showing 221K new claims, which is lower than the forecasted 235K and last week’s 242K, indicating ongoing stability in the job market.

Technical Analysis of GBP/USD:

Meanwhile, the cable has encountered a temporary stall after a streak of gains. It struggled to maintain momentum, hovering just below the 1.3400 mark after peaking at 1.3424. By the close of trading, the GBP/USD pair stood at 1.3308, following a range-bound trading session between 1.3422 and 1.3250. While the outlook of range trading remains valid, the pair closed slightly lower at 1.3200. With little fresh price action or market-moving news, the GBP is expected to continue trading within a narrow range, likely between 1.3000 and 1.3400.

The GBPUSD price action on the daily time frame turned sideways after a bearish pullback from the 1.34300 horizontal resistance. Presently, the price action is consolidating at the 1.33074 intra-day horizontal resistance. Technically, there is a decline in bullish momentum, and we may see further southward drive this week.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

I expect risk assets to find some support on Monday, but it is month-end, and rebalancing favors the USD. I'll be selling the GU and EU highs.

DXY H4. My money is on lower, before higher.