Cable Update (GBPUSD)

G/M,

Yesterday's Daily candle was neutral with 5595 the Hi right at a previous 4hr minor swing lo zone/previous 1hr swing hi zone and in the middle of a 5 fib cluster running 5580-5600.. of the upside fibs of the moves down to 5422 from an including 6165. (...Now a 4 fib cluster running 5588-5600) The pullback from said 5595 found support at 5467 (asian lo.)

Daily remains in a classic downtrend with 3 x LH's and LL's, it's 50sma under it's 100sma and that under it's 200sma. Bearish conditions generally on 4hr with same sma config as Daily although there has been a HL and H (at yesterday's Hi) printed on that t/f...no HH though as yet and that H remained under the lowest sma - the 50sma. 1hr sma's config is as 4hr/daily although this t/f has seen 3 x HH's before the pullback from 5595 yesterday's Hi - that being the last HH, price testing inbetween the 100sma and 200sma at that 5595 Hi. So conditions are mixed-bullish on thison this 1hr t/f right now.

Immediate near-term potential support/resistance factors per the current 1hr chart below with Daily R1 @/around 5579 in that previous 1hr/4hr swing hi leading up to yesterday's Hi , and Daily S1 @/around 5443. 5518 is where the Daily Pivot is @/around.

Uk data @ 0930am gmt and of course Uk Chancellor (Finance minister) Osbourne due to give his autum statement at 12midday gmt - which is likely to be dovish re Gdp growth forecasts.

G/L

1hr 50sma pointing up and converging on it's 100sma...may cross up ?...1hr candle may close as a bullish thrust master engulf x 3 if it carries on like this...price testing 61.8% of yesterday's hi 5595-5467 asian lo now. Looking bullish intraday so far.

G/L

1hr closes as that bullish thrust master engulf x 3...immeditaley overhead as 1hr screenshot below.

G/L

Good day to you,

Was out - missed my final buy limit only just. Locked. Hope to see the trendline hold to TP. Will close manually if bar opens below.

Regards

hi everyone im new to this thread, and i just found more interest in cable than fiber


anyways here is a trade i took and it looks to clear supply zone and will hold till 70s if it does

upside breech of 1hr desc t/line and follow thru on last 1hr candle close...testing 76.4% 5595-5467 now.

Uk data due 0930am

G/L

Good day to you,

Welcome! Nice one... do take time to share your analysis here from time to time.

All success to you
Regards

buy stops at 5600 will look for stop hunt if pa willingly agrees

and its tau

heard good stuff bout u sir yes i will when i can!

thanks for the welcome. seems more welcoming than eu thread. damn that place is the bomb!



ill try see the higher tf analysis now like daily or 4h.

im seeing 5600 as stop hunt but if it doesnt clear well enough oh well.

i think we'll see a fake 'resistance is holding' there and flag then bang up but hey thats speculative. pa does what it does.

whats ur thought tt?

im getting tired locking with a sell order now


ADD: whell i just SUCK at that!

hahhha never had a good lock in my life yet!

that 10+v on the right is not what it seems lOL

going north , wanna join ?

Good day to you,

Thank you - but you have heard wrong....

Anyway - I am interested in 3 trendlines I have drawn. It will be interested to see how price behaves around the confluence. My rules are telling me up on weekly and daily - but 4hr almost neutral for me so I believe we may test that area 1.5610 - 1.5640 in coming sessions but then possibly lower again to reload.

Not saying much - I know... but my main interest is lying above us... will take it from there when we get there.

Edit: OK - added 3rd chart....

Wish you all the best

Regards

Skipping the plan. Didn't get the PA wanted (MM hasn't been changed).

i did asked nicely

lovely of u to bless this thread
hope u well brother!

Good day,

That did'nt take long....

closed all my bull for now, don't want to risk it

I'm all good man. Thanks. Always like sharing my thoughts and GU is the pair that I had my eyes stuck upon recently. Had a nice trade last week and saw something alike yesterday. But the comb didn't have enough power to change the main move as it did the previous time. Took a position on a pull back then.
How are you N?

no tau that was a little to the right so not right on it im tempted to relock the damn thing

...upside breech and 1hr close above the 1hr desc t/line, and upside breech of the steepest 4hr desc t/line and 1hr 200sma. Immediately above current hi unbreeched fibs of the 6165,6128,6092, 5888, and 5691 moves down to 5422 as well as Dly R2 @/around 5642, Weekly R1 @/around 5675 and Daily R3 @/aroiund 5715.

Current near-term 1hr and 4hr scressnhots below.

G/L