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Cable Update (GBPUSD)

  • #875,281
  • Jun 21, 2:35pm (2 hr 26 min ago) Jun 21, 2:35pm (2 hr 26 min ago)
The GBPUSD price action on the H4 time frame made a bullish pullback to break above the 1.32020 intra-day horizontal resistance in the early part of Friday before turning sideways at the 1.32150 intra-day horizontal support. However, the prevailing technical impulse favours bears more than bulls. So, we may still see southward price action in the early part of this week. Nevertheless, this may be short lived as, presently, the price action is just a few pips above the 1.30840 horizontal support.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #875,282
  • Jun 21, 2:43pm (2 hr 18 min ago) Jun 21, 2:43pm (2 hr 18 min ago)
I think bearish gap.
Keir Starmer is going home.. first reaction seems to be bearish.
  • #875,283
  • Jun 21, 2:46pm (2 hr 15 min ago) Jun 21, 2:46pm (2 hr 15 min ago)
Quoting Wavegarrick
{quote} scalp sell trade, Does not hold as much power as the higher time frames but worth a 10 to 30 pip scalp. Cheers {image}
I have no idea where we will end up with the Hormuz crisis but there should be some retrace to 1.32689. I am adjusting my Strat to follow intraday. Summer Season is upon us.
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  • #875,284
  • Last Post: Jun 21, 4:47pm (14 min ago) Jun 21, 4:47pm (14 min ago)
Quoting Wavegarrick
{quote} I have no idea where we will end up with the Hormuz crisis but there should be some retrace to 1.32689. I am adjusting my Strat to follow intraday. Summer Season is upon us. {image}
Early start to the week. Buy trades in with 1st take profit at 1.32689 and stops below 1.315. I could be wrong of course.
Have a great week.
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