Cable Update (GBPUSD)

a daily close over 3239 a strong buy signal

beautiful wording, can't lose...

what are you jabbering on about?

Friendly Warning

This guy seems like a scammer to me... could be wrong but better to be safe than sorry. Asking for account management....

ASK YOURSELF... if he was making money why would he be wanting yours !!!!!!!

PS..... i am not FBarthez16

Well that was good for a few.

But let's revisit that.

Ooooh, Sneaky Pete
Let's see how it closes

Trump might be correct about the job numbers been rigged but the main problem is that regardless if it's true or false, continuing the attack towards Powell is hurting the dollar. Non of his advisors used his or her brain to tell him, what about meeting Powell to sort things..
That alone will strengthen the dollar crazily. And even if Trump wanna sack some of Biden's supporters in any position if in the Fed or wherever, he doesn't have to create a propaganda about it in social media everyday!
Trump is on the right path of history while the UK and EU leaders in majority are heading downward with ignorant, against the history and any good future decisions!! But he must create some wise maneuvers internally, in the US, not always taking the attacker position. Loosen up dude

My money is on 3418 confluence

This is the idiots thread if you guys n gals wanna check it out for laughs. Thanks to @FBarthez16 for sending me it ... Cheers pal
https://www.forexfactory.com/thread/...unt-management

?

https://www.forexfactory.com/thread/...unt-management

There’s a monthly trend line that’s just come into play at support.
I’m surprised someone hasn’t pointed it out again yet

meaning it’s hypothetically going lower back to 1.3 or the other way round? (I’m a beginner - I’m
learning)

gu 1.33 1st resistance price action similar with eu 1.16 1st resistance.

lets see what next week brings.

GU is still weak on the weekly and daily even, while got rejected from the monthly but I prefer focusing on the weekly chart that's showing more clear bearish movement than the monthly. However, obviously next weekly candle will show definite several resistance levels to overcome. While EU looking stronger for the bulls, still closed slightly above critical weekly resistance I talked about before 1.1570s that got rejected from until late hours, then closed just little upper.
Monthly resistance at 1.1670s, but next weekly candle open on Monday will create new resistance and support levels on weekly that I'll talk about...
We have 2 scenarios, GU not able to advance forward due to GBP weakness that exceeds the dollar weakness, might drag the Euro downward with it.. OR more weakness in USD might more rise the Euro and help GU go more upward.
In simple trading talk, on monthly of recent highs/lows, EU climbed from 1.02 to 1.18 with just a retrace to 1.14, GU from 1.21 to 1.38 with a bigger retrace to 1.3140. EU is at recent highs, I see a possible good short on EURO/GBP. GU will probably hold more when going downward than the EU that started moving out of its normal daily range, that's abnormal. It will sooner or later go back to lower daily range that'll pour more into GBP.

Checking pa bounce on the way after hit the great support but 2nd confirmation failure ,that reacting deliberately at gasping , limit up and pullback 3366 , 3349 ok so may repeated test here before take the fate as likely.take care
In smaller tf it likely starts with tanking down to 3260 before 3340 if possible , so sideways fire few days to full next week

...a technical summation/some observations re the w/e closing state of things re Gbpusd follows, but before that, a question. Does the weaker than expected NFP, and downside revisions to previous numbers mean that Fed will now lower rates @ next meeting, particularly in light of their previous recent comments about responding to a softer jobs situation? We've seen the markets' initial reaction to this all important jobs data, but will this be a game-changer?

* Price opened below the now old Wkly Pivot and stayed there all week. Price has opened and stayed below the new Mthly Pivot on Friday.
* Price achieved a downside b/o of the now old Wkly S3 this week re it's 148% of 13wk awr pip range, but closes above it after a bounce up from the bottom of a prev 4hr/dly/wkly sw lo zone = prev supp = pot supp that extends down to 3139 (Fri's/the week's lo,) / 38.2% of current yrly lo - hi, ie 2100-3788. This zone is coexistent with, and a 1st test of, a prev 4hr/dly sw hi zone = prev rbs x 2 now = pot rbs, that on the dly t/f extends down to circa 3105.
* Price made a so far true 1st downside b/o of the prev wk's 3402 lo on Monday, and stayed below it all week. Price on Friday made a false 1st downside b/o of last mth's 3185 lo.
* The > 6mth amr Mthly candle closed this week just ended, bringing to an end a run of 5 consecutive bullish-bodied candles on the t/f. It closed as a bearish multi engulf x 2 thrust. The t/f probably remains in a general uptrend?
* The Wkly candle closed bearishly and was a downside follow-through on the previous wk's bearish pinbar candle on this t/f. There will now be a L on this t/f @ last wk's lo or lower, when it forms fractally. The general uptrend on this t/f is currently looking under threat.
* Fri's > 30day adr (182%) Dly candle closed as a bullish engulfing candle with pronounced wicks on both ends, the lower one being longer than the upper one, bringing to an end a run of 6 consecutive bearish-bodied candles on the t/f. It is probably in a rangy-bearish condition now after the bearish H&S pattern from the 3588 right shoulder played out?
* 4hr's last candle was a bullish piercing-pattern after the pullback from the Fri's 3311 dly hi (38.2% 3588-3139) met 'buy the dip demand,' after the strong data reaction move up from the day's lo that was printed immediately before the release. There is a H @ fri's 3311 hi above the last LH on that t/f @ 3282, but it remains in a general downtrend as of the week's close.

EDIT: typos.

Mthly, Wkly, Dly, then 4Hr, below.

There is extreme market manipulation in the markets right now and outright wrong data; no good will come from the Trump effect in the long run.