Cable Update (GBPUSD)

a daily close above that red line today means we shud reach the dotted line this week

i meant to put the line there in my last chart post

thats roughly 150pips higher which may happen on fridays NFP number

Out here at 3531. +39 pips in the bag. May tomorrow be even better than today. Amen.

Bulls have reached 1.3530 and have even breached the level so the scenario for Bears to push price down to 1.3260 has been invalidated. However I think Bears may want to revisit 1,3400 before Bulls rally to 1.3600 area.

Tomorrow bull

1.35860 or better 1.36

DXY_H4

Bro what happened to your short positions did you close them

G/M. So, big >30 day adr bullish multi engulf x 7 candle close on the dly y/day,and a 1st upside b/o of LMH too. Today so far; a 2nd upside b/o of YH, and a 1st of today's AH proves false, as some supply is met @ the CDH/CWH. Today's AL is presently the CDL. Chart below is self explanatory.

1hr below

Short 3537. TP 3500.

...other than the mthly part, and bottom of the wkly part of the prev 1hr/4hr/dly/minor wkly/v.minor mthly sw hi zone = pot res that extends up to 3726, I have no other pot res/sbr factors @ CDH. Next fib to the upside is 3604 = 76.4% of said 3716,-3010 move. Price made a 1st upside b/o of Wkly R1 y/day, and Wkly R2 is @/around 3592/93, with Dly R1 just below @/around 3589. Some stops obviously triggered above today's AH (probably retail,) but I bet most of the longer-term bears' (bigger) stops are above 3788 LYH, with some above 3726?

...might have been some profit-taking at the CDH/CWH? The current p/back lo is challenging top of that prev 1hr/4hr/minor dly (from Sept'2025) sw hi zone = prev res x 3 = pot rbs that starts @ 3536, now. Lots of fibs of various upside moves, all to the CDH, below current price.

EDIT: merged 2 posts and rearranged to make more sense.

4hr below

The breakout we’ve been waiting for is finally here! GBP/USD has smashed through the 1.3500 ceiling today, hitting new multi-month highs near 1.3540. While geopolitical tensions in Venezuela are providing some minor safe-haven support to the Greenback, they aren’t enough to stop the Pound's momentum fueled by weak US labor data.

With the Fed now expected to cut rates more aggressively than the BoE, the path of least resistance for the "Cable" is firmly to the upside. If we can close the day above 1.3535, the next stop is the 1.3650 zone. It’s a great time to be a Sterling bull!

Trading Tips:

Immediate Support: 1.3500 (Now a critical pivot point).

Target Levels: 1.3600 and 1.3650.

Watch Out For: US Services PMI data at 10:45 AM ET and Fed’s Barkin speaking at 8:00 AM ET.

...price @ the CDH/CWH made an upside break of the 76.4% of the 3726-3010 move. Only 85.4% of that move left, which is @ 3620. Meantime bulls have made a couple of attempts to buy the dip (visible on 5min and below,) in those prev sw hi zones = pot rbs discussed earlier, and @ the prev 1hr sw lo zone = pot supp - which was a 1st test of them as pot rbs. That zone extends down to today's AL, which is presently the CDL.

1hr below

...bears testing deeper/lower, resulting in a new CDL. The wkly part of the prev 1hr/4hr/minor dly/v. minor wkly sw hi zone = prev rbs x 1 = pot rbs that starts @ 3534 LWH, extends down to circa 3496. There is a 5 fib cluster 3512-00. Dly Pivot is in there @/around 3501.

1hr below

...so the buy the dip bulls trying again, this time in the prev 1hr/4hr/minor dly sw hi zone = pot rbs that starts @ 3531 LWH, and specifically @ the breached desc t/line that joins 3726 with said 3531. 1hr bullish hidden div is present on my 2 x osc's, but this could develop further on any deeper fall, and may stay valid so long as price remains above 3425! Intraday is bearish right now.

An orderly desc channel on 5min right now.

4hr, then 5min, below

...price tests deeper again into the 4hr/dly part of the prev sw hi zone = pot rbs described in post above, and this time the buy the dip bulls manage to smash out of the topside of the 5min desc channel. The prev 1hr sw lo zone that starts @ today's AL becomes pot sbr now. All upside recovery/continuation attempts re longer t/f trends sold off so far today, since the CDH. How strong are these buy the dip bulls now?

5min, then 1hr, below

5' --- Risky trade ... Long now , as shown . . .

[quote=Headland;15523908]{quote} Hi. Yes, I put in the coloured rectangles ( showing previous fractal swing hi and lo zones,) and the fibs, and trend lines, in manually. I update as price discovery takes place, as required.The calculated pivots like Dly S1, Dly R1 etc are via an indy.

Amazing stuff, I will keeep an eye on this content.

STILL bias SHORT GU ...