Cable Update (GBPUSD)

Ready to go long for the bounce and even further up with bad US news expected. Opinions?

im long at 9569, tp 16 pips

cable is DOWN DOWN DOWN

first target is 1.9505

Now you ,maked mistake .

Never ending error.
Small fish trying to swim against the stream...
Perhaps even to turn the stream before it does itself?

Yup, after the break I took a short. Support wasn't supportive enough for a long

dont take any trade on presumptions. wait for signal. look at daily, 4 hour chart, 1 hour chart, 15 min. the only thing i see there is that cable is going down.

Are we heading all the way to 9400 now before US news?

I put Daily TP 1.9465

If u look at through the time frames cable is going downhill...on the daily and 4hrs chart whats been happening is the price has been bouncing of the trendlines..the bias is down ......the only way its going north if there a news report and fundamentals take a hold..

Thank you much sir

i agree. But also look at fundamentals, few hours left till US news

good one ...yur on the money i did just the same ....hopefully it goes there

Alright......a fake breakout is what this is looking like. Long anyone??

GBP/USD: Weighed Down by GBP/JPY Selling, 1.9530 Bids Tested London, January 16. GBP/JPY selling is being blamed for Cable"s drop to test 1.9530 bids. UK clearer demand helped to base the rate at a low of 1.9525 yesterday. Some sell stops reportedly reside below 1.9500 and 1.9480. Sterling plumbed a 10-month low of 1.9483 last Friday (Jan 11).
1.9566 (today"s Asian session base) is now a resistance level. 1.9742 was yesterday"s six-day high.

To me, looks like a simple breakout, retest, and drop out of a descending triangle (15 min)... ill be holding my short position for now... What you guys think about the fundamental situation?

11:28 GMT January 16 1.9530 bids based late European morning cable losses
influenced by GBP/JPY selling (the cross simultaneously plumbed 20-month lows
just shy of 207.00, a previously touted bear target). 1.9525 was yesterday"s
low. Some sell stops reportedly reside below 1.9500 and 1.9480.
GBP/USD resistance levels include 1.9614 (yesterday"s pullback low from
1.9742) and 1.9653 (today"s Asian session top).
EUR/GBP bids are tipped at 0.7540 (today"s Asian session base was 0.7538). A
0.7535 option strike expires tomorrow (Thursday).
December"s RICS UK house price balance fell to a 15-year low of minus 49.1,
from minus 40.6 in November. A more modest fall to minus 45.0 was expected. UK
claimant count unemployment fell by 6.4k in December. A 5.0k drop was expected.
Annualized UK average earnings rose by 4.0% in the three months to November
(unchanged from the three months to October). A 3.9% rise was expected.
Today"s key US event risk is the 13:30GMT inflation data release. Core and
headline CPI are both forecast +0.2% m/m

1.9583 Short 10 Lot In!

cable is down but dont be greedy

try to target your profit cable can bounce from 9500 area

1.9465