In case that support is broken, we could see the pair go down to 1.9125 or even 1.8840. A breakout to the upside will likely encounter resistance at the 1.9500 area.
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DislikedClearly, we are in a 100 pip range, with the bottom of 1.9260 being a very strong support.Ignored
DislikedYes, exactly my thoughts! But, after all this sh*t the last days and today, I'm not sure if these rabbits are amputees and can't hop away.Ignored
Dislikedy
A heluva support I must say. No NFP or Rate statement to - even - threat this mark.
Same to the upside. I'm still new to forex, but Cable ranging within a 100 pip horizontal channel seems pretty unusual.
There's a lesson to take from this week (and personaly from my losses). Big mone stood away from the market for the whole week - all markets actually. Reports of CBs acting and a few sellers and buyers in the edges, but I didn't receive one single important comment about banks making big moves.
Those who can afford loosing money were out. I cant afford, but kept trading...
From now on I'm trading microlots only inside of this channel, as I opened this new account to get used to trading with multiple lots x multiple pairs. I'll go on micro only until out of this shithole...
Good Old Days when we used to see Cable up with USDJPY down, with EUR up... then stop.. then reverse... smooooth....Ignored
DislikedIt is likely that the support will hold, and if gbpjpy continues to go up, the cable may finally breakout to the upside. However you never know, and in case it does break the support, depending on how much momentum there will be, it could go down big time. It's certainly a good idea to wait and see how this develops.
On another note, Im also pretty new to all this, and I gotta say I like your approach, especially how you try to incorporate fundamentals as much as possible into the analysis. I wanna see myself doing something similar, cuz right now its pretty much only technicals for me. Have a good weekend!Ignored
DislikedIn case that support is broken, we could see the pair go down to 1.9125 or even 1.8840. A breakout to the upside will likely encounter resistance at the 1.9500 area.Ignored
DislikedLikewise.
I started thinking about "news" as fundamentals only. But then, one day price started moving in an unusual way I received the comments about some Iran rumors... That made me stay aware of these things when trading.
Then one day, GBP started falling across the board in the early European session. Man, I went though every possible news source trying to find out why - terrorist attack, something going on with Blair, there must be a reason for that. Until I found the news about the Asian selloff...
It is the fundamentals that move the market, no doubt. How much? Well, the technicals may help find out that.
There is this huge GJ pin bar suggesting upward move coming up. But it is not going to happen if stocks fall again.Ignored
DislikedWhen we talked with GBPJPY, although someone point out that there is a pin bar in W1 chart, but I have found that D1 and H4 shown that retracement has up to fib 61.8 level.....It maybe possible to reverse down a little at next week.....Ignored