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Cable Update (GBPUSD)

  • #863,721
  • Edited 1:40am Aug 6, 2025 12:16am | Edited 1:40am
Next care level 3289 as chances fakeout!
Below it can play 3270 but below 89/ 86 chances bounce any time over 70 , so sl or trailing active for this scalping short!

Doing 3389 and now next care level 3267
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #863,722
  • Aug 6, 2025 12:40am Aug 6, 2025 12:40am
waiting for this breakout
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  • #863,723
  • Aug 6, 2025 12:52am Aug 6, 2025 12:52am
Quoting pipfarm
{quote} Never an easy ride in the 5th if indeed it is that, stops are intact and after a 400 pip short trade on GU that i posted in the trading discussion session not too worried about giving some back if need be. Very typical of an ending diagonal which moves in 3s ie 3-3-3-3-3 , H1 which is the base top for this swing currently has 3 down and 3 up, could still be wrong though.

Going nowhere atm so close for a small loss , will look for something else this morning
Follow The Markets Structure - Patience and Discipline
  • #863,724
  • Aug 6, 2025 1:00am Aug 6, 2025 1:00am
If there's anything to be done here is selling the Euro with sl at a base above 1.16 though even 1.1600 to 1.1625 it's all like a land of mines for bulls because bears are waiting there, that means current price level has a limited sl as 1.1625 Top now while downside is all open to 1.1420
That when we're speaking pure technical not fundamental that might change the picture, still nothing changes unless EU bases above 1.1625 on daily and even above 1.1660s so as you see it's so complicated for bulls ATM! Weekly close above 1.1625 is necessary for bulls!

GU picture is more clear with resistance ~1.3325, with weekly one waiting at 1.3350s. So daily have to base above the first then tackle the second and end the week above it..to try tackling ~1.3480s next week.

Briefly, it's all f***ed up ATM but with opportunities
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #863,725
  • Aug 6, 2025 1:26am Aug 6, 2025 1:26am
Its now depends h1 close, bounce at 3280 or countinue down to 3210
  • #863,726
  • Aug 6, 2025 1:30am Aug 6, 2025 1:30am
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yes yes yes
  • #863,727
  • Aug 6, 2025 1:33am Aug 6, 2025 1:33am
The dollar/yen exchange rate fell below its average after a long adjustment from yesterday's high, but that was the bottom.I think it will break above yesterday's high, but what do you think?
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  • #863,728
  • Aug 6, 2025 1:37am Aug 6, 2025 1:37am
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yes yes yes
  • #863,729
  • Aug 6, 2025 1:52am Aug 6, 2025 1:52am
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  • #863,730
  • Aug 6, 2025 2:03am Aug 6, 2025 2:03am
Strong bearish engulfing 4HR candle closing near the low. Good possibility of a continuation down.
  • #863,731
  • Aug 6, 2025 2:06am Aug 6, 2025 2:06am
Opened a short at 1.32858
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  • #863,732
  • Aug 6, 2025 2:22am Aug 6, 2025 2:22am
Quoting ChiForex
If there's anything to be done here is selling the Euro with sl at a base above 1.16 though even 1.1600 to 1.1625 it's all like a land of mines for bulls because bears are waiting there, that means current price level has a limited sl as 1.1625 Top now while downside is all open to 1.1420 That when we're speaking pure technical not fundamental that might change the picture, still nothing changes unless EU bases above 1.1625 on daily and even above 1.1660s so as you see it's so complicated for bulls ATM! Weekly close above 1.1625 is necessary for...
An important notice that the 4hr chart is still helping the EU bulls to keep trying on marking new highs though shyly, still 1.1600-25 main coming resistance, but the case is the opposite with GU bulls that are being squeezed downward with less hope, still protected above 1.3280 and less ~1.3265, that can only change with a boost above ~1.3293 to target 1.3310 and there the break should happen to build on before the next 4hr candle.
Both pairs especially GU will try to perform a boost upward to position high before BOE so any fall afterwsrds won't be very harsh!

Next 4hr candle might clear the picture!
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #863,733
  • Aug 6, 2025 3:12am Aug 6, 2025 3:12am
Break out down 3294 and up 3306 and may fake out both cases !! Care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #863,734
  • Aug 6, 2025 3:19am Aug 6, 2025 3:19am
Quoting voeltoez
Its now depends h1 close, bounce at 3280 or countinue down to 3210
Bounce..eye on 3350
  • #863,735
  • Aug 6, 2025 3:26am Aug 6, 2025 3:26am
Quoting Meer-Shayhak
Opened a short at 1.32858 {image}
Hit SL
  • #863,736
  • Aug 6, 2025 3:26am Aug 6, 2025 3:26am
Quoting voeltoez
{quote} Bounce..eye on 3350
3315/16 needs to break first, then a pull back then a long entry is what i am looking.
Intraday only.
  • #863,737
  • Aug 6, 2025 3:30am Aug 6, 2025 3:30am
Quoting navk
{quote} 3315/16 needs to break first, then a pull back then a long entry is what i am looking.
Yes upper band h1 reject at 3315, close above it clear to long
  • #863,738
  • Aug 6, 2025 3:32am Aug 6, 2025 3:32am
Quoting voeltoez
{quote} Yes upper band h1 reject at 3315, close above it clear to long
Just need time, except low break , bull signal will be gone
  • #863,739
  • Aug 6, 2025 3:51am Aug 6, 2025 3:51am
Quoting voeltoez
Long 3268 tp 3330 sl 3230
Closed 3320
  • #863,740
  • Aug 6, 2025 3:55am Aug 6, 2025 3:55am
Uh huh
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