Cable Update (GBPUSD)

Still LONG hoping to average out to 1.3255 my BE before the end of play tonight...

A brutal day for the longer-term and some intraday bulls, (holding those upside bounces too long,?) as a combination of $ safe-haven buying, and £ selling reaction to weak Uk data, piled on the pressure for them, resulting in a downside 2nd b/o of LWL to a new CML/CYL. Mthly S2 was breached to the downside too. And the week started so well for them, with a convincing upside b/o of the previous week's 1hr range/4hr consolidation, (after 3 x failed attempts,) up to the 3483 CWH, which was an upside b/o of LWH. However, even on the day that was achieved, the dly candle closed bearishly, and that has been the theme all week since Tuesday. Today is again almost certainly gonna be a bearish dly close, and a bearish wkly close, later on, both t/f's well beyond their 30day and 13wk average ranges, respectively.

Main scheduled event risks next week (that may have an influence on price,) are the U.s Cpi #, the U.s Fed Fomc rate, and the Uk Boe Mpc rate etc, but with the current geo-political considerations, anything could happen during the week. Technically, the week is likely to close with 1hr, 4hr and dly all in downtrends. The next pot supp zone on the dly t/f, to the downside, is the one that extends down to the 3179 prev sw lo, and in that - the 38.2% fib of the 2100-3870 move-up is @ 3189.

EDIT: added a bit and corrected typos.

Dly, then Wkly, below.

... price closed y/day very close to it's dly and wkly lo, in a prev 1hr/4hr minor sw hi zone = pot rbs from 2nd Dec last year. Under this on 4hr is that prev 1hr/4hr/dly sw lo zone = pot supp that extends down to 3179, (which on the dly t/f starts circa 3209,) mentioned in post above. The mean reversion (what goes down has gotta come up) types may be underwater currently, but will be hoping for some kinda upside p/back, or more, given the over-extended nature of some tech studies on some t/f's. My 2hr and 4hr oscillators closed the week out as very o/s, on a scale of o/s-very o/s-exteme o/s.

4hr below

GBP/USD Weekend Outlook: Can the Cable Find a Floor?
It’s been a bruising week for the British Pound. After UK GDP data flatlined at 0% and geopolitical tensions sent oil prices fluctuating, the GBP/USD pair closed Friday near its yearly lows at 1.3280.

The "Safe-Haven" Dollar remains king as investors brace for the high-stakes FOMC meeting next Tuesday and Wednesday (March 17–18). Technically, the pair is at a critical juncture. If we fail to hold the 1.3250 support on Monday, the door opens for a slide toward 1.3194. However, any de-escalation news could trigger a relief rally back toward the 1.3340 resistance zone.

Stay disciplined and use the weekend to refine your risk management!
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GBP/USD সাপ্তাহিক পর্যালোচনা: পাউন্ড কি ঘুরে দাঁড়াতে পারবে?
ব্রিটিশ পাউন্ডের জন্য চলতি সপ্তাহটি ছিল বেশ চ্যালেঞ্জিং। ব্রিটেনের জিডিপি (GDP) প্রবৃদ্ধি ০% এ থমকে যাওয়া এবং মধ্যপ্রাচ্যের অস্থিরতার কারণে বিনিয়োগকারীরা ডলারের দিকে ঝুঁকে পড়ায় GBP/USD বর্তমানে ১.৩২৮০ লেভেলে অবস্থান করছে।

আগামী ১৭-১৮ মার্চ মার্কিন ফেডারেল রিজার্ভের (FOMC) গুরুত্বপূর্ণ মিটিং অনুষ্ঠিত হতে যাচ্ছে, যা আগামী সপ্তাহে মার্কেটের গতিপথ নির্ধারণ করবে। টেকনিক্যালি, সোমবার যদি পাউন্ড ১.৩২৫০ সাপোর্ট লেভেলটি ধরে রাখতে না পারে, তবে এটি আরও নিচে ১.৩১৯৪ লেভেলে নেমে যাওয়ার ঝুঁকি রয়েছে। তবে কোনো পজিটিভ নিউজ আসলে এটি আবার ১.৩৩৪০ রেজিস্ট্যান্সের দিকে ঘুরে দাঁড়াতে পারে।

মার্কেটের এই অস্থিরতায় নিজেকে প্রস্তুত রাখতে উইকএন্ডের সময়টিকে সঠিকভাবে কাজে লাগান!

Hi. Your commentary makes no sense re the 3250 (3253 was LWL,) potential support. It already got busted to the downside twice on Friday, (See 4hr chart in my post above.) The 1st time to 3245, where stops under 3253 were probably bought resulting an upside p/back, then it met 'sell the rally' supply @ what became a potential sbr zone, resulting in the move down and 2nd downside b/o to 3220, which is whereabouts the week closed.

After recalculating the chart,
its seems like the FOMC outcome is well known.

market going to be bearish.

i don't know how the path of the week will
look like, but i think we will see up some before another extra red hot bears.

Plan: let's say around 1.329X i will start build some heavy shorts (If we get there)

1.3 area and below could easily hit.

1.3100 looks like next stop before any meaningful impact from GBP.
Till then.

Well, that's the last time I'm trading while traveling. Not having a view of the charts contributed to -60p. This week I plan to change my approach slightly. The DXY H4 is following thru on a bullish break-out, which now brings 100.60 into play. Risk ended the week over-extended, so I expect at least an initial push-up by risk during Asia, so scalping long when the market opens. From there I'll trade risk with the DXY 100.60 target in sight.

I may put a small buy but my main objective is to wait for 1.16 to sell.

And just as my luck would have it, GU,EU,NZ and AU longs gave me my -60p back. Now we wait for the low.

BE now, lets make some profit...

My trades of the day is long AU and long NZ. Red news for AU during Asia session tomorrow, speculation of a rate hike for AU will send that pair higher today.

Long on EURAUD. Hoping for it to reach daily PP and beyond. Singapore and HongKong closing out there trades at Daily S1. Couldnt quite get in on the hour I wanted to since there was no m15 pivot elevation but there was one in the next hour and the HS1 was not hit so lets see.

closed...

GBP/USD Strategy: Will the 1.3220 Support Hold?
The British Pound has started the week on the back foot, hovering near three-month lows at 1.3268. A combination of stagnant UK growth (0% GDP in January) and escalating geopolitical tensions in the Middle East has kept the bears in control.
With the high-stakes FOMC meeting (March 17–18) just around the corner, market volatility is expected to spike. Traders are closely watching if the Federal Reserve will maintain a hawkish stance amid rising energy costs and global inflation fears.

Today's Game Plan:
Support: Watch the 1.3223 level closely. A break below this could expose the 1.3164 zone.
Resistance: Any relief rally faces immediate hurdles at 1.3289. For a bullish shift, we need a daily close above the 50-day EMA at 1.3370.
Are you looking for a bounce or riding the trend lower? Share your thoughts below!
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GBP/USD ট্রেডিং স্ট্র্যাটেজি: পাউন্ড কি ঘুরে দাঁড়াবে নাকি আরও পতন?
আজ সোমবার, ১৬ মার্চ। পাউন্ড-ডলার (GBP/USD) পেয়ারটি বর্তমানে ১.৩২৬৮ লেভেলের আশেপাশে অবস্থান করছে, যা গত তিন মাসের মধ্যে সর্বনিম্ন পর্যায়। ব্রিটেনের জিডিপি (GDP) প্রবৃদ্ধি স্থবির হয়ে পড়া এবং মধ্যপ্রাচ্যের অস্থিরতার কারণে বিনিয়োগকারীরা এখন নিরাপদ আশ্রয় হিসেবে মার্কিন ডলারের দিকেই বেশি ঝুঁকছেন।
আগামীকাল শুরু হতে যাওয়া মার্কিন FOMC মিটিং (১৭-১৮ মার্চ) বাজারের পরবর্তী গতিপথ ঠিক করে দেবে। তাই বড় কোনো পজিশন নেওয়ার আগে আজকের মুভমেন্ট পর্যবেক্ষণ করা জরুরি।

আজকের গুরুত্বপূর্ণ লেভেল:
সাপোর্ট: আমাদের মূল নজর থাকবে ১.৩২২৩ লেভেলে। যদি প্রাইস এর নিচে চলে যায়, তবে এটি আরও নিচে ১.৩১৬৪ পর্যন্ত নামতে পারে।
রেজিস্ট্যান্স: উপরের দিকে ১.৩২৮৯ একটি শক্তিশালী বাধা। মার্কেট বুলিশ হতে হলে অবশ্যই ১.৩৩৭০ লেভেলের উপরে টিকে থাকতে হবে।
বাজারের এই অস্থিরতায় আপনার আজকের ট্রেডিং প্ল্যান কী? কমেন্টে আমাদের জানান!

as for lvl alignment March 1/2 = Y_3/4

VA gap closed, I guess.. Opened longs again, DX as a guide
yearly bias bearish

Buy trade from 1.3262 and 1.3300 exited at 1.3282... +20 pips and -18 pips. Only left with the buy trade at 1.3364 which I believe will suffer a lot if price doesn't move to 1.3320 area

My bias is now bearish and I look forward to selling once price reaches 1.3320 - 1.3340 area for a swing target of 1.3070.