Cable Update (GBPUSD)

long gold

Closed SHORTS, LONG now BE 3358...

This must be the slowest pair in Forex, it took 7 days to give me 72p .

I'm long with you, 3385 looks good.

Long GU, target > 1.35300

GBPCHF, long target > 1.07700

long 1.3455

G/M. Y/day's lo was @/around last wk's hi, and now more downside today so far overall with price now below last wk's hi ,and with a 1st downside b/o of y/day lo and today's asian lo, both still true right now. @ current dly lo price is challenging a prev 1hr/4hr/minor dly sw hi zone = prev rbs = pot rbs, @ the 61.8% of the 3374-3588(current wkly hi) move. Price remains below the 3625 (also Wkly R3) Mthly pivot (even @ said 3588,) but above the Wkly pivot still (which is @/around 3425,) after opening the new week just below it and climbing above it early on Monday, where it has remained so far, on this last trading day of week. Current wkly lo is 3402.

4hr below

...you can see on 1hr chart below how there is a prev 30min sw lo zone = prev supp @ current dly lo in that wider prev sw hi zone = pot rbs mentioned in post above. Dly S2 is below current dly lo, @/around 3446. 1hr is in a classic downtrend right now.

EDIT: merged 2 x posts and typo.

1hr then average ranges graphic below

Trade closed for 33p, the bears are struggling. Now long, target 1.18100

...today's down move so far is a downside follow-thru on y/day's bearish engulf dly candle. With 4 trading days to go of the month, after today, the Mthly candle per the far greater probability is shaping up to be bearish-bodied, but - anything can happen, and the far lesser probability could result? We will see, no-one knows, all you can do is go with the probabilities, it's all we've got.

Mthly below

...I would think that some institutional/Bigger Payers stops for longer-term long positions might have been moved to under the 3365 current mthly lo? Longer-term Retail stops for long positions will likely mainly be under the 3402 current wkly lo. Right now, Mthly is in a general uptrend, Wkly in a general uptrend,Dly in a messy general uptremd, 4hr - don't know - probably rangy - presently bearish, and 1hr in a classic downtrend. A downside break of last week's 3365 lo is possible but not probable, but a downside break of the 3402 current wkly lo is more probable.

closed -5p. not yet

EURCAD, long target > 1.61000

What happening lately , down and more than 3463; , direct to demand zone . Anyway watching signal 3456 test breaks, earliest 1731 for any bounce , till then bottom play or bear play ok.
Eurusd crazy bull surrender unconditional as well ! For time being perhaps !!
Over support zone still for pullback .
So both may test 2700 and 3400 round numbers +- to react next . As before target s 3411 and 1705
Any way they are both relatively scalping buy zone if signal present!

...76.4% of the 3365 (current wkly lo)-3588 move up, & @ bottom of a prev 1hr minor sw hi zone=pot rbs, as well as just into the dly part of the prev 1hr/4hr/minor dly sw lo zone = pot supp that extends down to this wk's 3402 current lo, - all @ the current dly lo.

EDIT: mistake corrected re fib move.

1hr below

long GU 3420

50 pips banked.

Looking for a better way to jump into long term trend.

Long 1.3420

BE now 3350...