Cable Update (GBPUSD)

rock'n roll

any idea what u think is an absolute bottom for cable?..

not really.

Watch the double bottom formation @ 1.5779 (july 10 low)

will do..
thank buddy

Next stop 1.5778 and will keep going down as long as uncertainty is dominating in the Euro zone.

USDX

agree even more to 5600 - 5400 ....if weekly candle close below 80 fibo around 5880.

but if close above it ...let's see ...

prev post : http://www.forexfactory.com/showthre...88#post4936988

Looks like it's playing out.

Does anyone know what should be the target for H&S? I've depicted mine in the chart.

GBP/USD – Bias (W1): Bearish; Bias (D1): Bearish

http://lcchong.files.wordpress.com/2...ng?w=877&h=397

if you guys look on daily there's tons of support at 1.5850

If it breaks I'm looking at a short

GBPUSD has broken all trendlines except this one.

Is the next possible target?

possible targets
just my 2 cents
good trading to all

Ascension will be the direction of the GBP the coming days

1: Trend bullish in the bullish channel on the weekly chart

2 contact with the downtrend is broken on the weekly chart

3 Vebo approaching the contact 61 on the weekly chart

4 price gap since the beginning of the week 60 POINTS is not closed

5 Reports next week on cable supports the rise

Stop a weekly close below 5780

PA on the weekend ....

.

looking for cable to find some footing in the coming days as price nearing oversold and channel support.

i watched euro news, gbp isnt out your right, but gbd/eur USUALLY react to eachother news

the numbers still came out 2minutes before the anouncement and you could have always traded eur/usd because it was euro news and scalped 8pips

The monthly chart for gbp/usd is reflecting the current Risk Aversion Market Sentiment driving the price through short term support levels. We see the yellow 5 sma (close price) has crossed over the orange/red 5 sma open (open price) with a small gap showing. The price has broken down through the blue 14 sma and the white 5 sma low, and testing the green 22 sma. Will this weekly sma support hold? Not with Risk Aversion Sentiment. Only a change to Risk Appetite will stop the fall.
We see a wedge formation designated by the white trend lines, and a break of the green 22 sma will re-test that bottom white trendline below 1.5100.
We see a lower high formed and a rollover of the price.
The momentum indicators are all agreeing and turning bearish.


On the daily chart:
The July 12 low of 1.5779 will be a Double Bottom Formation and may bring a bounce upward. There will most likely be sell stops sitting below there.
Price has broken the purple 400 sma and should reload/re-test that level where sell orders may be sitting. The yellow 5 sma is sitting around the 1.5900 price level. There may be sell orders sitting thereabouts @ 1.5900/1.59200 area.

The momentum indicators are below their 100 levels (bearish), however the blue one candle is starting to show a possible 5 sma retrace to consolidate.

here is a zoomed in monthly chart

i zoomed out on the daily to show the double bottom formation.