Cable Update (GBPUSD)

Im sharing my personal analysis of the GBP/USD pair, based on recent market observations. Feel free to share your thoughts and add your perspectives.

Currently GU is breaking through the inverted Head and shoulders pattern, and I envisage a daily close above 1.35770. Rate cut on Wednesday and I guess the market already expecting a 25-bps rate cut. The catalyst would be 50 bps which will send GU to new highs. Currently I can see a test of my monthly resistance and pullback to 1.35770 to enter buy trades.
Trade well Folks.
Cheers.

My favorite kid is back.

Closed Friday's GU long for 52p, now short, target >1.3510

He's still "Temp Sus" the suspence is killing me ...

Long UJ, target >148.20

If Lincoln were alive today he'd likely be a DEI advocate.

Same as before , watching

I think we're setting up for a massive "buy the rumour, sell the fact".

CABLE

On the H4, the Cable remains in a definite uptrend.
The overall bias is still bullish.

From a technical perspective, I see a possibility that the initial decline (labeled as the first ABC) could represent the first leg of a more complex correction (a three-wave pattern).
The current price action may be forming a second ABC, which would complete a second three-wave pattern.

However, even if that bearish count is valid, I would expect the pair to at least retrace higher to the 78.6% Fib level of the recent down move.
A key level to watch is that 78.6% retracement.

If the price rejects that level and breaks to the downside, we could then anticipate one of two scenarios:
A strong, impulsive five-wave decline (indicating a 3-3-5 pattern).
A more complex three-wave decline (indicating a W-X-Y structure).

Despite this potential bearish setup, the core strategy remains the same: the short-term trend is up.
Therefore, we should primarily be looking for long opportunities in line with the dominant uptrend, rather than attempting to short against it.
Good lick.





Find only best set up to minimise drawdown.
Minimalist, after 177 trades in Sept, drawdown still 0.

While waiting for the big day on Wednesday.

Please enjoy to this song.
The song is about UK CPI and US Fedral Fund Rate on Wed..........

This price action is horrible. The way it's just constantly nudging higher looks like the buyers are weak.

I have a hypothesis that it's more likely than not that we will have at least 1 bearish hourly candle before the interest rate decision in 35 hours time. Unless of course the consensus is that it's more likely that we will have 37 consecutive bullish hourly candles.

Attachment g

Pull back point to down site.

With everyone dumping the dollar, just wait until they hear about the shitshow that is the pound and the euro.

Dory is clever. Be like Dory

DXY just dropped beneath 97.

G/M. Price @ CDH/CWH/CMH is again challenging the prev 1hr/4hr sw hi zone = prev res = pot res that extends up to 3648. Above this a prev 1hr/minor 4hr sw hi zone = pot res that extends up to 3657 that contains Wkly R2 @/around 3652, both from early July. Dly R2 is @/around 3666.

1hr below