Cable Update (GBPUSD)

That zone folded, so waiting for SMA100 reaction.

GBPUSD H1 still looks like a continuation sell for me because price remains capped below the prior support zone around 1.34885 to 1.34975 which is now acting as resistance. As long as H1 stays below that band, I am looking for a push toward the next support at 1.34445, and I will invalidate the bearish view if we get an H1 close back above the resistance band.

Scalping short into this zone worked out well. Waiting for a drop to the zone lower line.

CABLE

The dollar isn't moving much right now.
Waiting for important U.S. jobs data coming out on Friday.
Jobs report yesterday was weaker than expected, but the market didn't really react—every scalpers focused on Friday's bigger report.

Another issue that could weaken the dollar later.
The U.S. might have to pay back more than $133 billion in past taxes on imports if the Supreme Court rules a certain way.
This is a potential prinitng more dollar's.

G/M, another bearish dly candle y/day and so far today; a downside follow-thru to today's AL, then an upside p/back to the AH/CDH, then a 2nd downside b/o of YL to the CDL. Price @ said CDL is testing the dly part of the prev 1hr/4hr/dly sw lo zone = pot supp that extends down to 3413, the CML. This in itself is the 1st test and hold of a prev 1hr/4hr sw lo zone = prev supp x 1 = pot supp that extends down to 3401. Also, @ the CDL price is testing a separate but coexistent prev 1hr sw lo zone = prev supp x 2 = pot supp zone that extends down to 3425. So basically, and in the 1st instance, potential support down to 3401 if tested.

1hr below

M15 bears are still pushing, this zone may also fold.

DXY_H4

...re b/o's. Well, 1st upside b/o's of LWH (3541) and LMH (3534) earlier this week, both proved false. Today so far, the 1st downside b/o of today's AL is still true, as is the 2nd downside b/o of YL.

4hr below

GU H1. A double bottom? Well, based on the lower TF range offcourse. When the buy comes, my first target will be the H1 pivot, we can see how the SMA200 and SMA100 will pause the up move.

...rising channel on dly t/f breached to the downside. Next fib cluster to downside is 3427-19, (3.) Price is again this week, presently below the Wkly pivot, after an earlier upside breach of Wkly R1.

dly below

3rd loss on GU what's going on this week

Today is Thursday, January 8, 2026. After a high-octane start to the week where GBP/USD surged to a multi-month high of 1.3570, the pair is currently in a consolidation phase, trading around the 1.3440 – 1.3460 zone.

The market is digesting yesterday’s mixed US data—stronger Services PMI but weaker private payrolls—and is now looking ahead to today’s Weekly Initial Jobless Claims and tomorrow's massive Non-Farm Payrolls (NFP) report. For the "Cable," today is all about whether the 1.3430 support floor holds.

Is the Sterling rally over, or just resting? GBP/USD is currently catching its breath at 1.3450 after hitting a peak of 1.3570 earlier this week. While the UK’s Halifax House Price Index showed a slight dip this morning, the overall trend for the Pound remains supported by a "less dovish" Bank of England compared to the Fed.

We are seeing some safe-haven demand for the USD today, but technical indicators suggest that as long as we stay above the 1.3430 mark, the bulls are still in control. Today’s US Jobless Claims will be the final "warm-up" before the big NFP report tomorrow!

Trading Strategy for Today:

1. Support: Watch for a bounce at 1.3430. If it breaks, we could see a slide toward 1.3380.
2. Resistance: Bulls need to reclaim 1.3500 to target a retest of the week's highs.
3. Risk: High volatility expected at 8:30 AM ET.

...so, more demand encountered @ CDL which is @/around the 23.6% of the longer-term 3010-3568 recent up-move, in that prev 1hr sw lo zone = prev supp x 1 = pot supp. Ema's up to 4hr reflect the fall.

EDIT: corrected typo.

1hr, then current 10/20/40 ema crosses graphic

Happy New Year. TP hit and price is still falling. I have not entered another trade. I was having fun selling gold. No trades now.

...bit of a fight-back by the bulls? All the upside p/backs have been sold so far today off the AH/CDH. Price needs to remain above the CWL/CML @ 3413 if it's not going to go below the last HL on the dly t/f, re it's uptrend. Dly S2 is @/around 3415. Price is still above the Mthly Pivot, (where it opened the new month,) it is @/around 3396, and Wkly S1 is just above it, @/around 3397.

1hr below

...from an intraday pov, I would have thought that bulls have to at least get north of today's AL to relieve the underlying intraday and longer-term intraweek bearishness? Currently meeting sell the rally/sbr supply there. They do however have a fractal swing (lo) now on 1hr, to build from.

1hr below

...bulls trying to buy the dip @ 5min rbs -against- the sell the rally longer-term players @ 1hr sbr. Who will win?

5min below

Happy New Year, everyone! I hope I'll post more this year.
I am bullish on gbpusd, should have placed a pending order yesterday. My current goal, however, is 10 pips on the upside.

Almost 2 trading weeks later follow-up on this