Cable Update (GBPUSD)

Quoting Wavegarrick

Disliked

{quote} GU once again, the same old repetitive stuff from the 20th to month end seeing a retrace. 1.35425 crux for bulls and bears at month end. I can see a decent move to the upside as per my indicators and I sit tight. Nothing for me to do here at the mo. Have a great week. Cheers {image}

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Quoting Waveskierrob

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Looks like everyone has moved over to the GOLD thread, good on yea ChiForex...talking of GOLD im SHORT bias ... {image}

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Quoting Zebi

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went long GU at 3290 we shud see 3390 sometime this week maybe even 3440 if humpty does more dumb shit like fire people that count the econ numbers

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Quoting Abeylyn

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GBPUSD UPDATE Daily and 4 hour trend are bearish. Daily Candlestick is showing a bullish engulfing after a rebound from 1.3140/1.3177 zone. I am bearish in line with the daily trend but see the current engulfing candle as a signal to move price to 1.3365/1.3385 zone where the bear may continue its movement to the downside. Support against the bear are currently located at 1.3140/77 zone, 1.3000/15 zone and 1.2880/1.2920 zone. In the interim, I will be looking to Buy at revisit of 1.3215/1.3225 zone with the intention of linking the daily trend resistant...

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Quoting Abeylyn

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{quote} The interim plan may not hold since price has created a double top within the structural high zone that was established by NFP bounce. If double top can hold and price reverse to the downside from here, we may likely see a deep pullback to retest 1.3140/77 zone. This is a call to just watch out for a Buy trade either at 1.3215/25 zone or a deep lower point 1.3140/77 zone.

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Quoting Waveskierrob

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{quote} Could do with a 20 pip drop GOLD on the open but weekend markets showing +10 not a great indicator but does have a little bias...

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Quoting ChiForex

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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...

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