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Cable Update (GBPUSD)

  • #874,701
  • May 17, 2026 4:42am May 17, 2026 4:42am
back to 1.32 in Q2?
At current state I would say Q2 high is established
Air force
  • #874,702
  • Edited 11:59am May 17, 2026 5:09am | Edited 11:59am
W/e summary

* Price has traveled 93% of it's 6mth amr so far this month, and price closed this last week below the 3464 Mthly Pivot ,after the 1st downside break of it so far this month, on Thursday last week. Mthly S1 was tested @ YL (Fri's lo) / what is now LWL/CML, and held so far.
* A big > 13 wk awr (171% of it) week, with a very bearish wkly candle close. The t/f closed the week still in a rangy state overall.
* 4 x bearish-bodied candles in a row now on the Dly t/f, as price 'fell off the edge of a cliff' from the week's just closed 3653 hi. That steep move down from there has negated the previous 3159-3658 uptrend on this t/f, and it closed the week out in a rangy-presently bearish state.
* 4Hr closed the week in a steep general downtrend. It's last candle close of the week was bearish.

NB: Last week's 3314 lo, (as stated above,) tested Mthly S1, which is in the dly part of a prev 1hr/4hr/dly sw hi zone = prev rbs x 1 = pot rbs that starts @ 3346, and on the dly t/f extends down to circa 3306. Separate to that, the lo also tested a prev 1hr/minor 4hr sw hi zone that started @ 3320 and on 4hr t/f extends down to circa 3312.

EDIT: mistake corrected re wrongly naming YH as YL.

Wkly, then Dly, then 4hr below.
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Trader with an Edge.
  • #874,703
  • May 17, 2026 9:19am May 17, 2026 9:19am
Quoting Wavegarrick
{quote} No trade yet for me with the weekend gap and playing in my favor. I await my next sell trade. Cheers {image}
Solid support around this area for the upcoming week.
Have a great week.
Cheers.
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Trade to trade another day
  • #874,704
  • May 17, 2026 1:30pm May 17, 2026 1:30pm
Although the GBPUSD price action on the H4 time frame is presently tackling the 1.33200 intra-day horizontal support, we may still see further southward price action in the early part of this week before a significant bullish pullback. Technically, the price action is still within the 1.35870/1.32020 horizontal channel (dark violet).

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #874,705
  • May 17, 2026 9:56pm May 17, 2026 9:56pm
Price hit earlier daily IFVG

1.3362X is visible liquidity zone
So i expect it to hit before any massive fall that will come later.
  • #874,706
  • May 17, 2026 10:18pm May 17, 2026 10:18pm
Quoting Whale
Price hit earlier daily IFVG 1.3362X is visible liquidity zone So i expect it to hit before any massive fall that will come later.
I think the daily OB+ is on 1.32824 so price should first be attracted to that level and after that the up move can be expected maybe in London session as it's just spitting distance from the current price
  • #874,707
  • May 18, 2026 1:21am May 18, 2026 1:21am
Quoting AlfieSolomon
{quote} I think the daily OB+ is on 1.32824 so price should first be attracted to that level and after that the up move can be expected maybe in London session as it's just spitting distance from the current price
thank you Alfie to refine my view.
you are right, but after such a big move down of two consecutive waves without segnificant correction, when it come to any POI area it could bounce anytime.

waiting to TP
  • #874,708
  • May 18, 2026 1:59am May 18, 2026 1:59am
Quoting Whale
{quote} thank you Alfie to refine my view. you are right, but after such a big move down of two consecutive waves without segnificant correction, when it come to any POI area it could bounce anytime. waiting to TP
I think price has already hit your TP do you have any other target than 1.3362
  • #874,709
  • May 18, 2026 2:04am May 18, 2026 2:04am
Sold 1.3380
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #874,710
  • May 18, 2026 2:21am May 18, 2026 2:21am
Quoting Yngwie
Sold 1.3380
whats the possible price for TP that you are aiming?
Keep the Lights on then you can catch the rise from the dark.
  • #874,711
  • May 18, 2026 2:35am May 18, 2026 2:35am
Quoting AlfieSolomon
{quote} I think price has already hit your TP do you have any other target than 1.3362
no.. this is the only one for Monday.
I prefer to be on the side of the trend.
ATM still bullish intraday sign, only NY can change it.
  • #874,712
  • May 18, 2026 2:45am May 18, 2026 2:45am
Quoting W0lfram
btw, the price is approaching the greatest TACO gap, that's when he 'decided' not to destroy entire civilization, if you remember those tweets {image} DX on Apr 8{image}
TACO gap officially closed on EU and GU
----
/dx
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Air force
  • #874,713
  • Edited 5:15am May 18, 2026 2:59am | Edited 5:15am
Watching weekly sr 3154 and 2995 signals!
Ok for 3449 try test resistance for next leg down !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #874,714
  • May 18, 2026 2:59am May 18, 2026 2:59am
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Air force
  • #874,715
  • May 18, 2026 3:22am May 18, 2026 3:22am
Quoting ricmaj
{quote} whats the possible price for TP that you are aiming?
to be safe within 1.3300
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #874,716
  • May 18, 2026 3:30am May 18, 2026 3:30am
Quoting W0lfram
{image}
must?
  • #874,717
  • May 18, 2026 4:13am May 18, 2026 4:13am
One hour TF forming back head and shoulder for goes high...
  • #874,718
  • May 18, 2026 4:43am May 18, 2026 4:43am
Quoting Whale
{quote} must?
Yes. Must do x, otherwise y will happen.
Bad condition for safe long-term continuation
Air force
  • #874,719
  • May 18, 2026 5:37am May 18, 2026 5:37am
Quoting Bflyfx
{quote} bounce started lower, I expect to see euro much lower in the coming days.
1.1680- 1.17 is small resistance.

Gartley buy is working from support.
I only follow traders with IQ above 160
Challenge Tour All Time Return: 516.5%
  • #874,720
  • May 18, 2026 5:47am May 18, 2026 5:47am
Quoting Yngwie
{quote} to be safe within 1.3300
hit BE
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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