Cable Update (GBPUSD)

thats a quality start cable bounced nicely off that 1.9766 support level to 1.9815 S1

another 49 pip but i wasn't in that boat :
But who was in he collect today 150 pip in the first two hours of today

that was 100mph speed boat had to be fast to catch that!!

take care i'll go to the bed now. i still wakeup for the internet connection problem till now and i wasn't wont to leve the UK news.
watch the cable for me well you

9759 the low so far, I have Daily S1 pivot at 9777-79?

well done again Abuawad!!

only thing I have at that 9759 is the already breeched fib 61.8% of the long term move 9362-2.1162...support obviously further down around 9710-40

from news wire

GBP/USD: Helped Off Post-Data Low by Eastern European Demand London,
April 3. Eastern European demand for GBP is being touted as a factor in cable"s sharp rally from a post-UK service sector PMI and BoE credit conditions survey intra-day low of 1.9760. The rally from 1.9760 has run into resistance at 1.9820. Demand at 1.9820 was absorbed earlier this morning (BST), following good size selling from a UK clearer. The UK clearer selling was reportedly on behalf of a Middle Eastern account. - ABUAWAD WAS THIS YOU!!!!

1.9847 (today"s Asian session base), 1.9882 (today"s Asian session top) and 1.9900 (yesterday"s high) are GBP/USD resistance levels north of 1.9820. 1.9748 (yesterday"s low) and 1.9728 (Tuesday"s four-week floor) are support points south of 1.9760.

I see it now as well as that fib mentioed above.

BTW: FX_Local, what news wire service is that you post?

IFR Forex watch, the report has a thomson financial email address thou

Thank you, fx local apprecaite it.

Overall I think the direction is down, just not yet. Just got quite a nice bullish pin off resistance on 1 hr

is this 5min hidden (reverse) divergence going to follow through for a new intraday low??

LH= Lower High

ADP saying +8k for NFP tomorrow but a fall in manuf jobs...forecasts $ bearish still elsewhere:

4hr charts shows clearly how key this 9720/40 area is;

Managed to cover those short positions in 9770ties. A goog ride down, now waiting for a pullback to short again. Do not feel confident to go long atm.

Didn't see it in real-time (wish I had) but there was a pefect see-saw divergence pattern in the 30min chart at todays high.

ie: a lower high (LH) with regular bearish divergence after the see-saw pivot marked with yellow circle. Useful patterns for pinpointing a sell at a lower high (LH) or buy at a higher low (HL)

Abuawad

When H4 candle (blue arrow) opens between S1 19815 and down Target 2 19782 but previous H4 candle penetrated as far as S2 19766, does this indicate price will move DOWN or UP?

thanks

same here, sterling seems to be the dollars ugly sister!! euro being cinderella! sell rallies favored afternoon trading have been notourisly hard to decipher

guys are you confident that cable will go lower?

may seem trying to go up right still? market right now confused me a little, sorry