Cable Update (GBPUSD)

From a seasonal point of view, May is not known for dollar weakness, so it's going to be interesting to see how this month shapes up.

Watching usdx , bounce started yet , but pising great! As huge space open for correction now 1 st signal at limit 100.96 , next 102.82 and 1 confirmation 104.31 . So this week will be important decision making !! Watching

1.32 yes 1.31 maybe before we shoot up.
but 1.30 no way.
I will hold you accontable for 1.30

Re my analysis, and others' analysis below my post re the current GBpusd position, None of us know with absolute certainty what is going to happen next. All we got is probabilities, and when we ain't got them then, we gotta wait till we do.

Mthly, the t/f is recently very bullish but in a range? The greater probability is for an upside follow-thru of last mth's bullish candle - at some point.
Wkly ,well 2 x effective bearish candles now (last wk's and this wk's just closed,) in an uptrend/top of a range, - I don't know what the probability is re this t/f, this pairing, and those candles of what happens next, but the candles are certainly at least suggestive of some more downside, but I wouldn't take 'suggestive' to the bank!
DLY, again in an uptrend, with a recent pullback off the trend hi (3444,) and now an inverted pinbar close, which is suggestive at least of some upside, if not that the pullback is over/close to being over?
4Hr is recently bearish in a range, or maybe @ the start of a downtrend, so suggestive of more downside. This said it is in a very strong (up to this point,!) pot supp zone but that zone has been tested several times, and the more a zone is tested and holds, the weaker it becomes on subsequent re-tests - is the general rule!

For me, I don't care either way; I have no 'skin in the game' as I close out each day and week flat. But even if I didn't I would be just trading one instance in a sample - that overall realises a net gain, so what would happen would happen. I don't worry about any individual trade. I begin each new day waiting for a hi-probability set-up (bullish or bearish,) in the context of the chart conditions on my t/f's of interest, for the highest probability set-ups re my edge.

You have a point. But this year price has shattered a lot of the usual narratives. I believe the plan this year is to weaken the dollar in the long run. However, I will watch out. I'm not confident in selling GU because evrerytime I tried and didn't book profits early it turned up. I will watch 3162 (can go even 100 pips below it). If price breaks below it I'll switch to my tactic of waiting until price closes above it (mobthly pivot) on a weekly basis to start buying again.

Very nice

The GBPUSD price action on the daily time frame turned sideways on Friday after a bearish challenge of the bullish drive to the 1.34257 /1.34360 area. Presently, the price action is tackling the 1.32640 intra-day horizontal support. Nevertheless, we may still see a bullish pullback before a southward turnaround.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

It looks like I'll be doing the Trump trade today, long dollar.

it seems the Bull are not ready to give up the 1.32800/450 zone. This can ignite another mad rush if it stays persistent above 1.32800. Fingers crossed and waiting it still monday

My GU short entry will be at 1.33210, which is the H1 SMA200.

GJ decent drop but it seems the bears are looking a bit exhausted. Maybe an opportunity to go long soon potentially around 19100

you shell not pass 1.33049

Long 3307.

I'm short GU, going to hold this one.

Don't worry, whatever clowny movements the market does, it's going back there and way lower sooner or later, just like with EU and Gold.

Always matter of time, nothing else.

Gold H4, I'm keeping an eye on 3335.00, looking to scale in shorts from there.

Out of this with just few pips profit. Until 3162 is checked it's scary to buy. However, there may be a possible right shoulder which may still help bulls reach 34 area again. But short might be better for now.