Cable Update (GBPUSD)

Not worked overnight play but ok to see and wait , anyway 3774 is great resistance months , so try breaks up while hold 3689 and 3648 all monthly close levels !!
And weekly close resistance 3751 may try best to hold above while next target 3829, remain bullish .
Waiting 3716 test breaks for 3700 !

E. and BP. 5' --- Holding my shorts ... Lowered SLs to almost BE , as shown...............

He's been reading implementing Erdoğanomics 101

after 5 you should expect 6, because 5 isn't really that many

bears keep your account locked if not today it’ll be on Monday. Retesting 1.3650 is inevitable.

Off to 1.38

DXY going for a meaningful monthly close below it's 17 year bull trend, then this dollar fall accelerates.

I don't want to degrade this thread in any way, but if you want another perspective you may visit this thread "Eur and Gold", it covers GBP/USD as well. Forgive me if I transgress an ethical code here, but the aim is just to assist our fellow traders.

looks very bearish to me, the 2 point tl won't hold imo

For today I'm short 2 lots at 3744. I strongly believe it's the wrong trade. But I'll hold it and see what happens. I think price is destined to hit 4000 mark but not yet.

Dollar sellers are not selling with the intention of buying them back cheaper and pocketing the difference. They are simply selling dollars.

This idea that simply because price goes in one direction, therefore it must go back down to "balance" or something totally ignores the reasons that the selling is happening.

And full disclosure, I have a short position. So you know it's going to go up. I'm short because I'm also looking at the chart and thinking, "normally this would retrace after such a move" but as the two charts below show, these are not normal times.

I'm totally conflicted because the technicals make me think it's more reasonable to expect a down move, but the fundamentals makes the think it's more reasonable to expect an up move.

It's better to say "I don't know" than to make things up...

I'll take what the ex director of an off-shore Jersey bank with 50 years experience in the finance sector, and who regularly writes on the subject, has to say, over some dude on an internet forum who appears to make a living "setting up music festivals".

ps did Glasto as a favour, apart from free food no money exchanged hands, so it appears you learnt something today...

GU GJ UJ none are looking an easy trade this week. Gold on the other hand is dropper faster than Katie Price’s knickers

Bias LONG GOLD ...

No movement , so checking eurusd pa , range at top as in very strong bull set up !!
Need 1699 ,86/80 test correction to see if bounce next !
If 1699/80 fails take off bounce then likely continue correct further down ,no easy bull continuation today
Similarly 3721 either breaks or bounce at it , so test 3721 !

I shorted at 3287 TP 3260 before a long to 3300

After finding solid ground at 1.37255, the bulls seem to have regained control momentarily, setting their sights on the 1.37800 resistance zone. That level has acted as a strategic barrier so far, but if buyers manage to force a clean break above it, we could see a rapid acceleration in price possibly triggering a breakout rally.
Buy Limit @ 1.37300 sl 10 tp 30

how’s it going there?