Cable Update (GBPUSD)

You have to bear in mind that the UK market is closed today due to a Easter Bank Holiday and trading is very thin and may be very volatile and unpredictable, treat it like a weekend trade (sunday asian session trades).

IMHO I think this will stay range bound and no major movements will happen until tomorrow. Look for a major break sometime 0700 GMT or after.

I'm personally just watching this pair today and not trading it, and will only enter a trade when the markets are more liquid from 0700GMT Tuesday morning.

See you all guys tomorrow and good luck.

Trying again to break resistance 1.4760.. Currrently at 1.4746/48. Lets see how it moves..

Good day to all,
If the price above 1.4780, next target will be:-
1st 1.4815
2nd 1.4890

I really hope the price will not exceed 1.4780.
I want to sell..sell

I sell @ 1.4747
SL: 1.4760
Run with TL

same here scalping scalping but waiting for it to reach at 4600 and sure will move it there


UB

I put my sell order at 1.4690.. expecting if it falls 1.47.. it will be on its way to 1.46 and further..

http://lh5.ggpht.com/_Eme9JvJeDhk/Se...GBPUSD_PnF.jpg


On hourly point and figure charts, pound found support at 1.4600. Right now, there is a triple top pattern formed at 1.4766 - a key resistance level. We have to wait whether cable will remain in the range or take a breakout.

see?


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GBPUSD history level

lock trades praying for it down again
its very unconditional up movement abnormal situation here without events market going up and up


Ub

Does someone know where this abnormal bullish action comes from?

no news yet but i think its a impact of US stock 500's failure but its surprising no correction just going up and up no idea what to do

Ub

hello

as i explain before

http://www.forexfactory.com/showpost...stcount=129465

http://www.forexfactory.com/showpost...stcount=129474

Now we target 1.4957 but it could face some resistance at 1.4915 to 1.4925

you mean now it won't go back 1.4600 zone again until it won't touch 14900?


Ub

it should test 1.4900 zone

I hope it will down again... I don't know what happen right now, but my forex friend told me do not take short position at this moment ( i mean a couple hour ago).. I don't know why.. but i already sell at 1.4724 and tp at 1.4667.. and already reward with the 57 pip.

If you all have any news please post it... I think this is the best spot to taking short at 1.4850.. but still worry whether is turn to down or up for this session..

Hope it will down again and make people who sell below 1.48 will cheer again..

Anyway, happy trade to everyone..

i think long position already reached maximum for today
now waiting for clear picture to short targetting somewhere 1.4470

But if current price break 1.4855, then we expect to see 1.4890 & further up.

Hi everyone,

I would just like to introduce myself as a rookey trader interested in trading the GBP/USD and as i can see, there is alot od disscustion on this thread while the markets are open so i think this thread could benifit me ALOT.

A little about myself - am a property developer by trade, have't worked for the last year due to property prices going down. By chance started watching the stock market on the TV as all stock market started to crash. started finding it very interesting..Anyway, went on a quick course asuming id trade on fundemental analisis with property and bank companies. ... well.. they only move from 5 to 10 points, if your lucky. so i started looking at the FTSE100. I made money.. i lost money...i stoped trading as i realised i was gambaling rather then makining planned disitions. i was just guessing...NOT GOOD. So i done a lot of reaserch in the last 3 months..almost 12 hours a day searching everywhere on the net to learn how the pro's do it.

Well. i see that FX is where the money is due to the pip movement and ive learned a lot about most of the indicators, trends, Phycological aspect, all types of systems and stratagies.. keeping an i on the charts and seeng entry points, exit points...you name it.

Anyway i was looking to put my 1st trade on this week and i thought it would be cool if i had some cool people to talk to on the GBP USD. .. and i came across this thread , which seems like the write place to be while tradeing.

Abs

P.S sorry for the really bad english, i really don't mind if you lagh, not great at spelling.

If next H4 candle holds this position ( close/open below 1.4826) to perform Evening Star or Engulfing, she will go down significantly, closed to DP 1.4647 !

Welcome to the thread Abs...I trade only on GBP/USD and post on here from time to time, other times i'm on my own thread (the link is in my signature).

Happy Trading,
FR

Thanks FR, Kind of you to reply. I will definitly be checking out your thread, will have a quick look now