Cable Update (GBPUSD)

Enough room on Daily to go down to 1.5898 (Bollinger)

targeted 5955
lolz

That'd be lower then previous 5-6 months. Last monthly low 5938 is the first fence to break.

Hello.

I already got one good short trade: 5980-5955 and now long at 5950.

On 4H chart we are targeting 5910 I'll wait for good entry.

Josef

I am afraid of heights ........ daily chart.

we go up for 4 hours then ............ free fall to see if there is water in the deep well.

Long at 5956 - no tp - babysitting

Agreed. Ive been in since 5977 but just got my +20 stop taken out that second on this rather large retrace... Hope it goes back down though!

Long closed at 5975. (+20 pips)

Hoping for 1.5988

Hmm...

Don't see 5988 lvl on 1h chart...

May be the moving avg 21 ?

G/M,

Another run down to area of yesterday's lo and some demans here again, (likely took a few long stops) this after pullback from yesterday's 5947 lo - 6017 as price found supply at the previous 4hr swing lo zone (previous resistance and underside of the previous 4hr ascending trend line circled in 4hr screenshot below.

Weekly S1 @/around the current daily lo/yesterday's lo and below here:

5925-10 prev 1hr/4hr/daily swing lo zone
5878 61.8% 5343-6746
5869 Daily S2 @/around
5848 61.8% 5290-5746
5832-18 previous Daily swing lo zone inc Weekly S2 @/around 5824
5802 Monthly S1 @/around
5790-44 previous Daily swing lo zone Daily S3 @/around 5790

1hr and 4hr are both in downtrends now although 1hr 100sma remains above it's 200sma, well below on the 4hr. Daily remains in an opa downtrend having printed a 4th successive LH and now aLL at today's current daily lo (5943.)

Event Risk: Uk Manuf and the wider Ind Prod numbers at 0930am London. These have fallen for the last 3mths and last month's -1.5%/-1.7% respectively were particularly soft numbers. With ISM manuf and construct this month showing falls will these output numbers folow suit or buck the trend like this week's surprising rise in the ISM services bumber ? The greater probability will be for some knee-jerk (+) market pressure on the £ if numbers are soft. Conversely, like ISM we may see a rally (howsoever shortlived) if the numbers are strong. Uk Boe/Mpc later at 12noon London is really a non event in respect of the decision re rate, the very great probability is that there will be no change @ 0.5% and n/c too in the current £200billion Qe programme that was halted at that total some time ago, although if there is an accompanying statement (there isn't always) this may cause a reaction depending on how market reads it. Minutes of this meetinng later in the month will be eagerly awaited no doubt, for further clues.

G/L

TP at 1.5986 -I am happy!

Nice.

10 daily candle into the same range.......
pfffff
boring

Hoping for closer to 591X region... get down there you bitch!!!

just noticed today's current lo is right on ascending daily trend line.

23.6% of the 6099-5943 (current daily lo) has halted the pullback (for now ?) Nice 2hr bullish hammer candle closed up from there.

G/L

may take a little help from upcoming data to blast down there

Yeah well lets hope its all bad news!