Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#873,721
Edited 6:35am Apr 8, 2026 6:17am | Edited 6:35am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

... a new CDH printed. The prev 1hr/4hr sw hi zone = prev res = pot res that extends up to 3483 is coexistent with the 1st of a cluster of overlapping 2 x prev 1hr/4hr sw hi zones = pot res, and a prev 1hr/4hr lo = pot sbr, (all from late Feb this year,)and these all in all extend up to 3508. Wkly R3 is @3493. Of course the prev 1hr/4hr/dly sw hi zone = prev res = pot res that extends up to 3479 was a 1st test and rejection of that aforementioned prev sw hi zone to 3483 LMH. Wouldn't be surprised therefore, to see supply emerge anywhere from the CDH/CWH/CMH up to 3508 initially. My 2 x oscillators currently read between o/b and extr o/b, on 1hr, 2hr, and 4hr right now, on a scale of o/b - very o/b - extr o/b.

Next fib cluster to the upside is 3512-14 (3,) that includes 50% of the 3870 CYH - 3159 CYL down-move.

EDIT: corrected typo.

Trader with an Edge.

#873,722
Apr 8, 2026 6:24am Apr 8, 2026 6:24am

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,289 Posts

Quoting Georginson

Disliked

{quote} I will add 3rd sell at 1.3470 area... It is a martingale approach, my manual stop loss is 1.3570 area.

Ignored

Sell 3 added at 1.3455... all target 1.3300

Weekly range now stretches to 294 pips of expected maximum 300 pips on a Wednesday...

Monthly range now 294 pips of expected 400 pips... Just 106 pips left to complete minimum with 17 trade days left, enough time for bearish recovery.

Data + Stat + Risk/Emotions Management

#873,723
Apr 8, 2026 6:42am Apr 8, 2026 6:42am

Shiham
| Joined Apr 2021 | Status: Trader | 573 Posts

gbp seems unstoppable today. thats good

#873,724
Apr 8, 2026 7:05am Apr 8, 2026 7:05am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

...it has the feeling of a' relief rally' rather than a fully 'risk on' tone, re this instrument's (and others') reaction to the 2wk ceasefire. It may be overdone? Ie nothing to do with Trump is straight forward, and then you add in Iran, and well,! - it is therefore likely that there will be plenty of oscillations both ways in the days/weeks to come. Whatever though, (for us technical traders - it doesn't really matter, we just trade what we see,) today so far, Bulls are 'on one!'

Average ranges graphic below

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Trader with an Edge.

#873,725
Apr 8, 2026 7:20am Apr 8, 2026 7:20am

Yngwie
Joined Aug 2008 | Status: Trader | 3,976 Posts

Quoting Yngwie

Disliked

{quote} add short 1.3440

Ignored

Add 1 more short last 1.3475

Live trade ~ GBPUSD only. No chart! Follow at your own risk!

#873,726
Apr 8, 2026 7:48am Apr 8, 2026 7:48am

Guy1969
Joined Jul 2021 | Status: Trader | 2,147 Posts

[12:45 gmt] Israeli army says it will ‘continue to strike Hezbollah’
Israel’s Chief of the General Staff, Lieutenant General Eyal Zamir, has said the Israeli army will continue to strike Hezbollah without any compromise.
“We will continue to strike the terrorist organisation Hezbollah and seize every opportunity,” he said, according to a statement from the Israeli army.
“We will not compromise on the security of the [Israeli] residents of the North. We will continue to attack without pause,” he added.

#873,727
Apr 8, 2026 7:53am Apr 8, 2026 7:53am

W0lfram
Joined Dec 2020 | Status: Re█████ | 2,867 Posts

Quoting W0lfram

Disliked

March high ~= Yearly open is likely the destination again {image} Mar 1/2 - 1.3320 Apr 1/2 - 1.3308

Ignored

Reached. Risky short 1.348
Options activity pointing to 1.355

Air force

#873,728
Apr 8, 2026 8:16am Apr 8, 2026 8:16am

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,289 Posts

Patience is required for Bears, it will be quick and swift.

At least 120 pips retracement from high.

Data + Stat + Risk/Emotions Management

#873,729
Apr 8, 2026 8:21am Apr 8, 2026 8:21am

Guy1969
Joined Jul 2021 | Status: Trader | 2,147 Posts

Quoting W0lfram

Disliked

{quote} Reached. Risky short 1.348 Options activity pointing to 1.355

Ignored

I thusfar have 3 GU short, and 2 EU short positions in place, between the GU price over-extention and the Israel Lebanon situation reaching boiling point, I regard these shorts as low risk. War stats has it that today, more than 120 people were killed in Lebanon Tyre, that's the highest casualty count in a single day since the war started. Israel clearly not interrested in a ceasefire.

#873,730
Apr 8, 2026 8:33am Apr 8, 2026 8:33am

Guy1969
Joined Jul 2021 | Status: Trader | 2,147 Posts

It's clear what's going to play out next in the geopolitical arena. Iran will again pick up arms, claiming they were sold a pipedream, we'll see more escalation and aggression, yet again using the Strait of Hormuz to apply pressure, because Israel won't stop. Note, all the Gulf Nations are still complaining about missile and drone attacks on their infrastructure.

#873,731
Apr 8, 2026 8:40am Apr 8, 2026 8:40am

TooSlow
Joined Mar 2012 | Status: Trader | 14,309 Posts

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“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden

Price Action #advancedalientrading

1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar.
3) Price will either close above a level (line) or not.

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade

#873,732
Apr 8, 2026 8:41am Apr 8, 2026 8:41am

Guy1969
Joined Jul 2021 | Status: Trader | 2,147 Posts

Closing first GU short from the high for 40p, and EU short for 30p.

#873,733
Apr 8, 2026 9:12am Apr 8, 2026 9:12am

Guy1969
Joined Jul 2021 | Status: Trader | 2,147 Posts

(14:06 GMT) Iranian official says will ‘punish’ Israel for ‘crime’ in Lebanon
A senior Iranian official told Al Jazeera that the country will “punish Israel in response to the crime it committed in Lebanon and the violation of the ceasefire terms”. “The ceasefire includes the region, and Israel is known for breaking promises and will only be deterred by bullets”, the official said. Iran’s Fars news agency, quoting an unnamed military source, says Iran is preparing a response to Israel’s violation of the ceasefire.

I'm afraid, now anything can happen.

#873,734
Apr 8, 2026 9:17am Apr 8, 2026 9:17am

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,289 Posts

Quoting Georginson

Disliked

{quote} Sell 3 added at 1.3455... all target 1.3300 Weekly range now stretches to 294 pips of expected maximum 300 pips on a Wednesday... Monthly range now 294 pips of expected 400 pips... Just 106 pips left to complete minimum with 17 trade days left, enough time for bearish recovery.

Ignored

Sell 3 at 1.3355 closed now at 1.3348... + 7 pips, still 2 sell trades left at 1.3395 and 1.3290 area...

Noticed price dropped by 40+ pips and still rises again to attack new high... I will replace sell 3 at 1.3489 for a target of 1.3365 tomorrow.

Data + Stat + Risk/Emotions Management