Cable Update (GBPUSD)

Good day to you,

A move up directly from here may severely weaken this run north. Just saying...

Leaving to go sort out some consumer complaints - see you all later.

All the best for the sessions ahead.

Regards

judging by the lower TF (30m) we have yet to see a closed below 5695 level and all the candles formed in a curved up formation. Seems like it wanna take off from here but at this price level, i'm nervous to go long tho it might take off at this price level..

maybe a little bit of patience might pay off later, i will long at a lower price but certainly would not open short position.

,

Even I know Elliot wave theory is not supposed to apply to a few up and down bars in a consolidation...

Bold, good luck. I will be playing break of yesterdays high or Lower TF TL break north after a pullback. TP 1: 5785, TP2: 5860

Hey A-Speculator... You and I have been waiting for this Swissy break a long time, no?

Hopefully my last trade for the year we will see how this one goes. But trade at 1.57031 with sl at 1.56531 and tp at 1.58031. Yesterday was good day Tuesday was an average day.

Regards

went short 1.5715, s/l 1.5756, t/p 1.5626

G/M

Bullish thrust candle on yesterday's Daily as the 1hr consolidates off yesterday's 5723 Hi with 2 attempts on that hi zone and supply encountered.

Daily has printed a HL now after the last LL of it's downtrend. 4hr mixed-bullish.

Potential support/rbs to the immediate downside per the current near-term 1hr chart below. DP is @/around 5676 with Daily S1, S2 and S3 @/around 5529, 5547 and 5500 respectively.

Potential resistance/sbr factors to the upside listed below:

5716-22 prev 4hr/1hr sw hi zone
5727/28 85.4% 5754-5560/76.4% 5780-5560
5744-54 prev minor 4hr/1hr/sw hi zone incl 5747 = 85.4% 5780-5560 and 5749 = Mthly Pivot @/around

5757-80 prev 4hr/1hr sw hi incl 5758 = Daily R1 @/around, 5765 = Weekly R1 @/around, and 5777/79 = 50% 6128-5422 / 76.4% 5888-5422

5792 50% 6165-5422
5802-06 prev minor 4hr sw hi zone incl Daily R 2 @/around 5805
5820 85.4% 5888-5422
5836 61.8% 6092-5422
5859-75-88 prev Dly/4hr sw hi zone incl 5859 61.8% 6128-5422, 5880 = 61.8% 6165-4422, and 5887 = Daily R3 @/around

5912-31 prev 4hr sw hi zone incl 5932 = 76.4% 6092-5422
5933 Weekly R2 @/around
5935-50 Daily t/f desc t/line
5963 76.4% 6128-5422
5988/94 76.4% 6165-5422 / 85.4% 6092-5422
6026 85.4% 6128-5422
6055 86.4% 6165-5422
6076-92 prev Dly/4hr sw hi zone incl Monthly R1 @/around 6076 and Weekly R3 @/around 6087

6096-6117-6128 prev dly/4hr sw hi zone
6130-39-65 prev wkly/dly/4hr sw hi zone
6173 = 76.4% 6454-5270
6181 61.8% 6746-5270

Uk Boe/Mpc rate and Qe announcemnet later.

G/L

today is bank rate.. any rumors about a change on it???

europe will move market with press conference and stress tests, be careful!
also unemployment claims in usa could give good power.

big sell??

i still consider its still have not break. i consider the support breaks if the price can sustain below 23 fibo at about 9195 area.

anyway, i do heavily short swissy and have close half of my positions.

technically speaking imo this is a buy to target 58 area with a possible extreme extension near 1.59.

im interested to search buy pattern in those gray area.
first one comes 5670-5650 range (mmm... too near, its december )

best one happens lower range 5630-5595 which is between weekly closing and weekly opening.
posted in h4 to show older moves.
will search my positions according to m5-m15 and/or m30/h1 charts

entered 2 test positions with just small lots long cable. this is just a test positions with only 1/4 of my standard lot position.

I make this position since i see that there are demand at about the 5695 area and at lower TF there's still no bar closed below that price.

all the best to y'all. green pips everyone.

hourly bull pennant.
h4 (previous post) bear pennant broken down then strong reversed up....................................................................................

Long @ 1.57021, scalping like a wh0re on steroids. TP 1.5719.

....no 1hr close below the 23.6% of the 5594-5723 move yet today, this fib is in a previous 1hr swing lo zone and price is bouncing between there and the prev 4hr/1hr sw hi zone at yesterday's hi...20% of 20day atr covererd only, - so far today.

Will there be an upside follow thru on yesterday's daily t/f bullish thrust ?

G/L

Lovely flag, perfect target of 1.5875.

I was looking at that, my tp has been moved to around that area, but if it looks like it may reverse around 5720ish I'll close. TP is now at 5805.

couple of pinbar candles on eurusd daily y/day and tuesday...daily correlation with this pairing stands at 84.8% at the moment, slightly higher on a weekly correlation - 87.1%

1hr bullish hammer close in that pot res zone

G/L