Cable Update (GBPUSD)

The GBPUSD price action on the daily time frame is sideways at the 1.36350 area. This area is about midway of the 78.6/88.6 fib-retracement zone of the bearish swing traceable to May 2021. Recent technical prints favour a southward market engineering.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Not a bad profit after all ! Still believe there’s more downside potential for GBPUSD, but happy to lock in gains along the way. Bears still lurking…

Huh, I LITRALLY just watched this again on Sunday! Great true story and a banging Leftfield soundtrack from the 90s!

We've all been there, chasing them losses...

Sold 1.3633 SL 1.3640 TP 1.3605

Waiting 3628 breaks and hold for below 3585 play if !

After observing the market with a deeper perspective I had to leave the buyer @ 3671 reason ;
1 The market was in the 4th wave on thursday,but the premium threshold for bear was missing
and the 3703 was intact(not violated) as invalidation level of 4th wave I quoted it previously.
2 Friday the equilibrium morphed to accommodate the missing premium threshold for bear, @3656
during Asian, to the 5th wave swing.
3 But the Bull breakout @ 3643 is still valid but the stop loss have to be wide to accommodated the 5th wave end,
thus a BULL JUDAS in the making.
Monday's I tend to be slow and cautious.
The beauty of the market is that, Everyone accommodated at their own capacity.

Hit TP 28p

I'll be targeting 1.35500 for support, had my eyes on that level since last week.

Out with +20 pips in the bag.

Hello everyone! A descending channel has formed on the GBPUSD pair on the H4 timeframe. After a rebound down from its upper border, the nearest target for a bearish movement may be the support level of 1.3590. In case of its downward breakout, the next target may be the support level of 1.3518.

[quote=Wavegarrick;15300177] Lining up well so far for an early-mid week area to watch

ok testing 3585 , waiting for more. 3560 may care most as eurusd bounce possible at /over 1723 , nearer. so ready 1st tp for soon!

yes

I was watching The Big Short again for the 50th something time last week. If you like re-watching old stuff, and seeing as it's evening time in Japan - this is good. I'm sure you have watched this many times already but seeing as trading a bit slow, I thought it was worth a link