Cable Update (GBPUSD)

oh yes yes bro, I was just exaggerating for dramatic purposes, dw. But I wouldn't call that a LS. Market's moved 30 pips up, then 25 pips down and then 20 pips up, so I called it a day. No news. 1 hour before london session. Market should NOT be doing that normally, right?

I think that what it does most of the time

Otherwise everyone will be rich

You right. Just gotta adapt.

if bears hold it here bellow 1.31691 shorting it here

although oversold still a bit of a pullback here - CABLE bears still in control here - now holding house money after a few short scalps

Burnham likely to replace Reeves if he becomes PM

https://www.forexfactory.com/attachm...3?d=1782262954I told you guys about this move. You guys missed !!

sold 1.3180 sl 1 3200

et volila! done, more to come but first bounce up is due.

Stupid news. hit trailing stop 25p

when MM crush with fundamentals, the confusion is on another level.
But one has to budge, the two can't exist in one room with different intent.

1. Market Overview & Trend Analysis

1. Asset & Timeframe: GBP/USD (British Pound / U.S. Dollar) on a 1-Hour (1H) chart.
2. Higher-Timeframe Trend: The overall trend is strongly bearish. The multi-timeframe trend matrix in the upper right confirms that the Daily (D), 4-Hour (4H), 1-Hour (1H), and 15-Minute (15M) trends are all colored red (bearish).
3. Lower-Timeframe Trend: The 5-Minute (5M) trend is green (bullish), indicating a short-term intraday pullback or consolidation against the dominant higher-timeframe downtrend.

2. Key Price Levels & Structure
The chart highlights several crucial support and resistance levels that define the current trading range:

1. Major Swing High / Resistance (1.32732): This represents a significant peak. After reaching this level, the market experienced an aggressive sell-off, establishing a clear structural shift to the downside.
2. Intermediate Resistance (1.31975): A local lower high formed during the recent corrective bounce. Price action rejected this area recently, leaving a prominent upper wick.
3. Current Pivot / Key Zone (1.31836): This level acted as historical support earlier in the chart before being broken. Currently, the price is hovering right beneath it at 1.31820, turning this old support into an active resistance zone.
4. Recent Swing Low / Support (1.31402): The floor of the current decline. Price found buyers here, triggering the current corrective upward bounce.

3. Price Action & Candlestick Behavior

1. The Downtrend Leg: The decline from 1.32732 down to 1.31402 was characterized by large, consecutive bearish expansion candles with relatively small retracements, indicating heavy institutional selling volume.
2. Current Consolidation / Retracement: Since hitting the 1.31402 low, the market has transitioned into a corrective phase. The candles moving upward are smaller and overlapping, signaling a loss of bearish momentum in the immediate short term, though the broader trend remains heavily weighted to the downside.
3. Recent Rejections: The long upper wicks near the 1.31975 level indicate that sellers are actively defending the sub-1.32000 area.

4. Technical Summary & Outlook
The market structure shown in is archetypal of a bearish continuation pattern.
Key Takeaway: As long as the price stays below the major structural levels at 1.31836 and 1.31975, the dominant expectation is for the bearish trend to resume. A rejection at the current 1.31836 zone could see the price target a retest of the recent swing low at 1.31402. Conversely, a clean hourly close above 1.31975 would invalidate the immediate bearish bias and open the door for a deeper retracement.

Sold 1.3193 SL 1.3203

Short GU, short EU TP open.

bounce is on

DXY.H1 - Price is staying above the key MA's, and more importantly above SMA200. I'm keeping short GU and EU.

waiting to short scalp this again - alert on 1.32428