Cable Update (GBPUSD)

gu will reach 1.6600, if GU break S/R around 1.6600(blue area), it will reach 1.69-1.7 major S/R (red area)

here is the chart

Close.That's what I would do here. Sorry if I turned out to be wrong.

Dear All,

what i learnt from the old folks here is that whenever we are at a key level, we should trade cautiously. i also learnt that if the market is about to turn and it looks so obvious, the big boys push it further against the obvious direction to run stops the initiate the big move in the originally decoded direction..lol. also that they will tend to run these stops just ahead of news to make the news look like tha catalyst for direction change eventually.

i am on the side watching events unfold over the next 2 hours to see if what i learnt makes sense. but then that would be a rude shock bcos those old folks i learnt that from are all fully into longs at the moment.

i am now torn btw hoping they are right this time and that they are right in their old analogies......confusing!!!

hi there

if you look back to one of my previous posts regarding a long term view(It was posted some weeks ago)I said back then the GBP should go up to 1.67 inn 4-6 weeks time from back there.we still have 3-4 weeks to reach that level.it does not mean it could not happen sooner.

I said the same thing about the EUR but with longer time frame as per max 7 weeks and as per my view EUR will go down first for a few weeks and then up again to 1.50-51 level and then fall to 1.36

GU will go up and down for the next 3-4 weeks but we will get the 1.67 level...maybe even more.this is my long term TP that I have been holding for more than 2 months now.

after this 1.67 is touched(1.675X) there is going to be a fall of at least 600 pips.
so on the shorts 1.61 first and another 300 pips more afterwards.......

so.....for the 1.67 I can say it loud it will be there in those weeks and it might be due to 5th May BOE or max 09th june BOE.

but for the down moves I can't see any down move so clear as the up one.....so....I have no clue how big the retrace will be

we will see anyway in the next 4 min and how the market will react to the news....I hope it will not be a b***t as yesterday

p.s.I posted some charts some while ago about this vision.if you click on my name and on attachements you will see all the previous charts

Stay off the track my bearish friends

this is what i mean man
+ 46 pips
tgt 6548
SL now above BE

shouldnt the good news have had a bit more of an effect? do we think it will go up from here?

by the way GJ is about to make a big move to 140.10 if we brake the 136.48 in the next 30-40 hours

...the luck of good news is included for free

i go out +45
enough

G/M

Better than forecast Uk PSNB and Retail sales provideds cable with a further lift up on the kinee-jerk...doesn't need much of an excuse to find buyers in this pairing atm. Price extended to 130% of it's 20day average pip range now, 126% of same weekly average and 80% of same monthly average.

To the upside Daily R3 6562, Monthly R2 6590, Weekly R3 6622 and above here a previous weekly swing hi zone 6764-6874.

B/H in Uk and lots of Europe tomorrow and Monday (Easter.)

G/L

Before GBP news :

Innocent Bear : Yay !! I can make some pullback !

After GBP news :

Mad bulls : Go home, my friend. Your turn is not today

Innocent Bear : I think I'll follow your advice. sigh...

Will we see some profit take ahead of the B/H's ?

G/L

ihihihih

today just managed to get 8 winning shorts out of 10 (scalp)

just got $63 as profit with $1000 account - 6.3% gain: more than enough for today

********

I think now we can short for 20 pip scalp - time period: 20 min max.

yes i think so.
maybe also today near london closings

better be careful im going with half positions than my normal trading

LoL, I think bears will stay home for a while.

hihihihi
he's come back to bathroom

hello,
gosh, i thought you already went out of eurgbp longs.
i remember you were targetin 8800

Does anyone see any other potential resistance factors above current price other than those I have mentioned below ?

Thanks

G/L

good!
a question: why you didn't buy this thing? look the rocket!