Cable Update (GBPUSD)

Expecting GU to make a steady move up towards the gap at 1.3470.
Taken a fresh long position on GU at 1.3337.

Going short GU from here 1.3362. Thinking it should move higher than this level before going Short but...

Risk management is key.

Nice day all.

Remember there is an unclosed gap at 1.3480... also the war event has already crashed prices and any new developments cannot be more significant than when the war began.

This time yesterday it was crashing, but today is proving otherwise.

[quote=Georginson;15598898]{quote} Remember there is an unclosed gap at 1.3480... also the war event has already crashed prices and any new developments cannot be more significant than when the war began. This time yesterday it was crashing, but today is proving otherwise.[/quotel

With entry at that price, I will surely breakeven even if there is MSS to the upside or at worst loose few pips and join the buyers....

The war is actually strengthening USD for now but with the establishment of yesterday's Support, I expect price to move higher than this level before crashing again.

Anyhow, let's see how it goes.

sorry admin, i posted before notice yours one. and i delete it because it may seem contarary

Key take-away for me from yesterday. We had a run on stops that left a lower gap, and retail will surely go after that lower gap today, so I'm keeping long into 1.3420. I expect the move lower to happen tomorrow.

eu resistance 1.1670
gu resistance 1.3450

We now had a decisive bullish break, taking 60p partial profit on GU long, 1 more long position running.

EURUSD_H1.

DXY_H1, heading for the pivot, but we could see lower.

Taking partial 50p profit on EU long.

Got out of my GU longs from below 33 and at 333 in profit. I'll wait after news to see if I get a dip to buy some more for the onwards journey to 3480.

Monthly pivot is 3551. It will get hit at some point, of course. When, I don't know

GBPUSD_H1. I'm only trading as far as the H1 pivot.

So enticing I couldn't resist.

The PA doesn't feel like it, but the euro is in pole position today.

seems like GU is going back down.

Yeah, EU has been so weak it cost me some quid last week. However, way above my TP lies huge volume in my system which I believe will attract price at some point.

Given y'day expansion, 1.3407 is Yearly 1/4 and March 3/4 range, 1.3402 - intermediary weekly poc..
Based on stats, there is 95% chance to close the gap till next Monday included. But I remember Mar'25 when 99.9% setup failed big time (due to macro shift)
buying for a gap close, anyway