Cable Update (GBPUSD)

We traded in a tight range of 40 pips for most of the day today between 163 - 162.60 ... that spike lower on 5 mins looks more like stop hunting than any position buildup or liquidation... Markets are right now waiting for more data, services PMI tomorrow can take it to todays low if bearish, otherwise i expect it to hold 162.65 .. atleast till rate minutes this Thursday.

yessss!!!
took more than 20 pips!!!

gold roars!
usd looks weaker..

what is going on?!

S&P 500 gone in free fall, now at the lowest level since March 16th. 2011 now a net loss for the index again. What the heck is going on here ?

an 'already seen movie'

august trading

...vacation unwinders, ah, I was already wondering whether a hedge fund collapsed somewhere.

What indicator it is? I am interested, could u please share it

Edit: SMA 30, just notice it, sorry

.

Hi
Potential zone I’m watching – currently I see some interesting resistance lined up above at 1.6275 where I’ll be alert if it gets back up there. I see recent support to resistance lines for all timeframes from H1 down to M5 there atm (and very near support to resistance from the H4 and D1), with a current descending H1 trend line, and the 50 fib of yesterdays D1 candle sitting there too.

Edit - I see in the previous pic above that Iqyu5an's pivot sits there. Interesting zone.

I'll wait for the Services PMI to see if there's any big deviation ,looks like market turn attention to economic data (not europe or us debt drama )..

Good luck !!

m30

where are you guys!!

Morning. Got my coffee and ready for trading session.

As yesterday situation is not clear.

Anything is possible...

good morning josef. whats the local time now?

6264 is rock solid support so far. price get close to it and rejects.

Yesterday's pullback from the 6222 Lo (MOnthly Pivot and 61.8% 6067-6474) produced a dailoy hammer candle-albeit with a bearish body.
1hr/4hr in some consolidation now re overall price action, daily has printed a L below the last HL of it's uptrend after the 3rd HH on that t/f. Price remains above the 100sma on 4hr/daily which is above the 200, but below on 1hr which has crossed down through the 2oosma.

Above/below current price I see the following:
Potential Resistance factors:
6309-15 prev 1hr swing hi zone with 6315 = 38.2% 6465-6222
6319 38.2% 6474 - 6222
6320-28 previous 1hr/4hr swing hi zone
6332 Daily R1 @/around
6344-49 50%'s of 6474 and 6465 - 6222
6372-78 61.8%'s 6474 and 6465 - 6222
6383 Weekly Pivot & Daily R2 @/around
6390-6408 prev 1hr/4hr sw lo zone
6408 76.4% 6465-6222
6415 76.4% 6475-6222
6437 Daily R3
6460-74 prev 1hr/4hr swing hi zone
6475-96 previous 4hr swing hi zone
6515-46 previous 4hr/daily/weekly swing hi zone inc 76.4% 6746-5779 @ 6516, with 6506 = Weekly R1 @/around
6591 Weekly R2 @/around
6665 Monthly R1 @/around
6714-46 previous daily/weekly swing hi zone with 6715 = Weekly R3 @/around 6715
------------------------------------------------
Potential Support factors:
6278 Daily Pivot @/around
6272-62 prev minor 1hr swing lo zone
6257-50 prev 1hr swing lo zone
6237-22 prev 1hr/4hr sw lo zone with 6222 =Monthly Pivot @/around with 61.8% 6067-6474 @ 6222, Daily S1 @/around 6227
6209 38.2% 5779-6474
6195-83 prev 1hr sw hi x 2 zone with 6184 = 61.8% 6003-6474
6174 Weekly S2 & Daily S2 @/around
6164 76.4% 6067-6474
6130-19 prev 1hr/4hr sw lo zone with 6127 = 50% 5779-6474
6121 Daily S3
6119-12 prev 1hr sw lo zone with 6115 = 76.4% 6003-6474
6088 Weekly S3 @/around
6085-68 prev 1hr/4hr sw lo zone
6045 61.8% 5779-6474
6032-15-03 prev daily/4hr/1hr sw lo zone
5976 Monthly S1 @/around
5944 76.4% 5779-6474
5914-04 prev minor 4hr swing lo zone
5875-20-5779 prev daily/4hr swing lo zone


Current near-term 1hr screenshot is attached.

Event Risk: Uk services sector pmi at 0930am London.

G/L　
　
　

you can see from 1hr chart above that yesterday's recovery Hi off the 6222 bounce/lo was at the 38.2% of the 6465-6222 move....price is challenging the zone up to that previous 1hr swing hi now.

G/L

Some Seller Sits at 1.6300 above

Forexcrunch.com say as per attachment re the Uk services sector pmi...any fall like the manuf pmi might see knee-jerk (+?) £ pressure, conversely any upside print may see some £ demand on the knee-jerk (+?) It's data-anything can happen.

G/L

trying hard to break red ellipse to kiss yesterday's high ?

http://www.forexfactory.com/attachme...6&d=1312340850