Cable Update (GBPUSD)

Hit BE

good that you moved it to BE!

so sweet when price hits your TP and stalls. 3440. Let's see ahat happens from here.

sold 1.3435

again hit be

it's waiting for the next push

I agree with you. Reason is that I expect gold to husband higher to at least 4600 or maybe slightly higher and that translates to a higher push here, all things being equal. Maybe from there the next dump will happen.

Closed with + 50 pips

Now I'll look for some shorts

Buy limit

3. Price Action & Technical Picture

1. Big picture trend: GBP/USD had a sharp sell-off from ~1.36 down to ~1.3310 between 13–15 May (classic breakdown).
2. Recent reversal: Strong bounce starting 18 May with a clear higher low and bullish momentum. The last few candles (especially the green ones on 19–20 May) have broken above the green dynamic trendline and several short-term resistance levels.
3. Key levels right now:
   1. Immediate support: ~1.3390 – 1.3400 (recent swing low)
   2. Next resistance: ~1.3480 – 1.3500 (previous highs)
   3. Major resistance: 1.3550 – 1.3600 zone

4. The chart shows multiple past winning trades on the long side during similar recovery phases (+150, +339, +249, +290, etc.).

4. My Overall Take
Bullish bias in the short term (next 1–3 days on H1). The Breakout Edge system caught a good entry, TP1 is already banked, and price action confirms the breakout with momentum. The structure looks like a classic “falling knife” reversal that is now building a base for continuation.
Bull case (most likely right now):

1. Price pushes toward 1.3480 → 1.3520 → potentially TP2 area (~1.349–1.350+ depending on exact entry math).

eu gartley buy daily keeps on giving

ONLY SWING..

trade risking 0.20 of capital

More comfortable with 0.1%

Dollar index could tank anytime now!

dollar index should test the previous lows 4 hours chart

https://www.forexfactory.com/attachm...1?d=1779323679

Long Idea GBP USD