Cable Update (GBPUSD)

The GBPUSD price action on the daily time frame is sideways at the 78.6 fib-retracement area of the bearish swing traceable to May 2021. There was a bearish drive to the area on Tuesday, but Friday saw the printing of an indecision candlestick in contrast to the relatively small bullish print of Thursday. The technical impulse favours bears more than bulls.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

So I was right in the end, I don't know what the impact of the US attack will be on the dollar or the euro, but technically the euro should have fallen
1.16149 is a very strong historical resistance
I took a short before leaving for the weekend, and immediately at the opening, the gap gave me 60 pips profit, and I immediately closed the position
3 more minutes we will see the gap up of gold , because the gold is in a upward move

Supply Zones (Resistance Areas)
These are marked in red and represent areas where selling pressure previously overcame buying pressure, causing price to fall. Price is likely to react or reverse in these zones upon a revisit.

1. Zone 1 (Highest)
   1. Range: 1.36224 – 1.36324
   2. Status: Untouched; strong supply.
   3. Outlook: If price returns here, a strong reaction is likely. Ideal for short entries.

2. Zone 2 (Middle)
   1. Range: Around 1.35164
   2. Status: Previously respected.
   3. Outlook: This zone could act as a resistance on retracement. Moderate strength.

3. Zone 3 (Lower Supply)
   1. Range: Midway zone tested around 1.346–1.348 area earlier.
   2. Outlook: Was previously respected but may now be weaker due to recent proximity.

Demand Zones (Support Areas)
These are marked in blue and indicate areas of prior buying pressure where price reversed upwards.

1. Zone 1 (Nearest/Active)
   1. Range: 1.33828 – 1.33999
   2. Status: Recently tested with a bullish reaction.
   3. Outlook: This is a strong short-term demand zone. Price has bounced off it, showing buyers' interest.

2. Zone 2 (Lower Demand)
   1. Level: Around 1.33348
   2. Outlook: A deeper zone with stronger potential support. A break of the upper demand zone may lead to a drop here.

Price Action

1. Current Price: 1.34199
2. Recent Trend: Bullish correction in a larger downtrend.
3. Recent Reaction: Price bounced from the 1.33828–1.33999 demand zone, indicating short-term support.
4. Structure: Lower highs and lower lows from mid-chart indicate a bearish structure overall.

Key Technical Observations:

1. Trend: Still bearish unless the price breaks above 1.35164 supply zone.
2. Bias: Bearish below 1.35164; bullish above it.
3. Intraday Opportunity:
   1. Buyers might look for confirmation around the 1.339 zone.
   2. Sellers might wait for price to approach 1.35164 or 1.36224 zones for shorts.

Trading Ideas:

1. Long Setup (Aggressive): If price re-tests the 1.33828–1.33999 demand zone with bullish confirmation.
2. Short Setup (Conservative): On price retracement to 1.35164 or 1.36224 with bearish confirmation candles (e.g., pin bar, engulfing).

So a little jump usdx and correction gbpusd! Like short term .
next immediate target 3433 and breaks for 3452 test and even breaks up before down restart !

test 3450 , waiting breaks 3452 to 62 , risky , 3448 may even enough at limit . so care arounds

it hit the TP

Looks like yet another day of a dead London session.

No, not this one.

This one.

3359 test breaks may still before a bounce

May some professional explain, why gbu/usd reacted with fall on positive data news?

My theory is that positive data are expected from US as well and they push it down..

Just my view.
Possible stop run below equal lows.

Euro/USD hasn't done the same YET.

or another possibility is that they expect worst data and pushing lower to start buy cheaper to take discount and NY close the gap.

Or the gap gonna be hanging out several days or weeks...

Breakout

Waiting for 3398 break out for 3429 limit .
Breaks limit then 1:st signal will be 3449 for next target 3472 &+
Equivalent limit signal 1492 in eurusd and 1 st confirmation signal 1522
Well done so far and time care , wait and recheck
Resistance ahead 3480 , better close scalping long to see next time

YES
and with the profit from the opening , i amwith 410 $ profit today