Cable Update (GBPUSD)

Hy guys , Please share , what are the next support levels for GU bears ?

sensitive area and time of day. if frankfurt pushes the price somewhere, then london almost never continues right away.. mostly they revert the direction, sometimes completely, but very often just for a short time to get the price to more reasonable level to jump in.. both cable and EU approaching ascending trendlines..

1.60

then 1.59

then 1.58

then 1.57

then......look out below

i'm in both..

I see ..
I'll wait until the news ..
from the history in this Retail Sales news, FF forecast is always accurate
I hope it will make GBP strong

Be careful for the H1 candle.

G/M

Upside breech of 4hr descending trend line with the upside follow thru so far today after yesterday's bullish candle. 6200 the current daily hi - right on the decsneding daily channel line. Above here:

6207 61.8% 6470-5779
6227 Daily R2 @/around
6240-6262 prev 4hr/daily swing hi zone with 6252 = 50% 6546-5779, and 6262 = 50% 6746-5779
6284 76.4% 6441-5779 6288 = Daily R3/Weekly R1 @/around
6308 76.4% 6470-5779
6366 76.4% 6546-5779
6376 61.8% 6746-5779
6387 Monthly R1 @/around

1hr and 4hr are in opa uptrennds and daily has now prinbted a HH above the last H (thatr above last LH of it's downtrend) this following a HL @ 6003.

Potential near-term suipport / rbs factors are shown on current 1hr screenshot below..not shown here are the fib levels from the 5779-current daily hi 6200 move. Daily S1 is @/around 6091, Daily S2 is @/around 6029. 6100 area looks interesting currently a 3 fib cluster of the 5779, 6003 and 6068 moves to 6200.

Will the Eurozone members reach a deal ? Will U.s Republicans and Democrats reach a deal before Friday's deadline for getting legislation framed and passed thru congress in time for August 2nd ?

Uk data at 0930am London.

G/L

Price testing that descending trend line/channel top area on daily.

G/L

Uk PSNB and Retail Sales expected 0930am London, will retail sales rebound from last mointh'sa -1.4% ? could some see knee-jerk movemnet (+?) on this data release.

Let's see what happens

G/L

Anyone cares about the Eu Summit ?

usdx has bullish candle at last & if sustain shorts in gu be closed first at 6117 & next see if any more .
waiting again , short at top & 6162 there .
fontu

knee-jerk £ buying on better than expected Uk retail sales ...bears beat it back down with supply approaching today's current 6200 Hi...how strong are the bulls now ?
-----------------------
Re Eu summit, any failure to reach a deal or any 'fudge' deal will see a market reaction as indeed any deal could with a relief rally in Euro and other markets ? Time will tell. Similarly debt ceiling negotiations in the U.s could impact further the markets.

G/L

Good news for GBP and London Time...
How high can you go ?

thats how majority 95% people thinks

we can see how high today by tomorrow... just my 2 cent ...

so, it's wrong when buy after good news? I am one of those 95% people

update shorts scalping situation started in the morning & now ok for levels of interests .
http://www.forexfactory.com/showthre...64#post4798264

the usually around a news release, for example a gdp release, if it's good and supposed to bring the currency higher, the pair would drop first for bulls to get a better price

Those 1000am London time closes on 15min,30min and 1hr gave a great sell signal off the supply approaching today's current hi.. Knee-jerk Relief rally on Uk retail sales soon snuffed out !

Potential support/rbs factors to the downside now as on 1hr screesnhot below. Daily Pivot 6128, Daily S1 6091, 3 fib cluster 6100 area of the fibs of 5779, 6003 and 6068 moves to said 6200. 6039 is 38.2% 5779-6200, Daily S2 is 6029. Unbreeched Fibs of 6003 and 6068 to 6200 shown on 1hr screenshot below.


G/L

So it's

I knew there will have retracement but this drop is so far thank to USD, nearly hit SL now, great