Cable Update (GBPUSD)

price behaviour making no sense at all.

breaking all levels of concern with London open 5543,60 & 68 also , as limit & so waiting where settle before short takings next .
fontu

watching closely when this crazy stop any , breaks 5569 with confirmation 5554 for limit 5532 , breaks 5543 again important for possible down continue without bounce from above 5532 to more up . h1.H4 & lower tf QQe strong UP .

575 the test imo

a clear low volume stop hunt. very manipulative

Aaarrrggg, well done me sea mates, we'll be home by Christmas for wine, women 'n song, Aaarrrggg.

does eur chf effect market movement of gbpusd?

yeah , testing it I see 5588/92 top .let do it if one last spike up .lets see .started short though to see .
fontu

looking 5567 next breaks to start bear /correction towards the level started spike 5543/32 or even channel bottom . 5588/92 still ok as broken top also 5583.

We will have a nice correction now in the 1.5553 level

don't really know about the correlation there , but in general I think of majors as affecting the crosses because that's where the bulk of the volume is , and the cross is calculated from values of majors - eurchf = eurusd/chfusd - so it measures relative strength of the euro and the swiss franc against the dollar.

yep - this the mid of DEC. swing so far... I've done a couple of scalps round here , but nothing major - being cautious , time of year and all that - GL

G/M,

Upside progress and descending 1hr/4hr trend line upside breech following pullback from yesterday's hi zone to 5492. Yesterday's candle being bearish-neutral, the pip range yesterday well under the 20day atr. Daily R2 and 23.6% 6165-6409 at the current daily hi-5582, immediately @/above here:

5570-81 prev 1hr sw lo zone (non immed) incl 5569-78 4 fib cluster
5586-91 3 fib cluster
5596-5603 prev 1hr sw hi zone incl 5596-98 2 x fibs
5610-13 prev 1hr sw hi zone incl 5610 = 61.8% 5735-5409
5619-28 prev 4hr/1hr sw hi zone incl 5620 =85.4% 5657-5409 incl 5620 = Daily R3 @/around

5631 61.8% 5769-5409
5645-57 prev 4hr/1hr sw hi zone incl 5649 = 50% 5888-5409
5658 76.4% 5735-5409
5663 Weekly R1 @/around
5665-70 prev 4hr/1hr sw hi zone incl 5668 = 38.2% 6092-5409
5683-87 3 fib cluster
5696 38.2% 6165-5409
5705 61.8% 5888-5409
5716-35 prev 1hr/4hr sw hi zone incl 5716 = 85.4% 5769-5409

[ 5744-50-69 prev 4hr/ 1hr sw hi zone
[ 5769-80 prev Daily/4hr/1hr sw hi incl 2 x fibs

5784 Weekly R2 @/around
5785 50% 6165-5409

Immediately below current price per the near-term current 1hr screenshot below. DP is @ 5502.

So far today 66% of the 20day atr has been covered.

G/L

the bid on this is insane. its overdone, not a single piece of news to justify the rise

markets move without specific intraday data...no justification needed, sentiment bullish atm and more buyers thnan sellers, don't ask why just get with the money flow !

G/L

have a look at charts instead - can see both EU and GU previously compressing with Higher Lows , Lower Highs

bullish diverence on gbp strength ..keeping gbp up
also actually chart simply shows this move..as charles mention its compressing

its a year end bonus lol..

or what you call.. a Santa Claus Rally ?

no news?? come on traders.... It was spanish bond auction.

lol - happy Nav ?

not quite..but feeling better

monthly rejection here is a good sign

price now challenging:

5645-57 prev 4hr/1hr sw hi zone

above here:

5658 76.4% 5735-5409
5663 Weekly R1 @/around
5665-70 prev 4hr/1hr sw hi zone incl 5668 = 38.2% 6092-5409
5683-87 3 fib cluster
5689/90 2 x fibs
5696 38.2% 6165-5409
5705 61.8% 5888-5409
5716-35 prev 1hr/4hr sw hi zone incl 5716 = 85.4% 5769-5409 and 5723 = 85.4% 5779-5409
[ 5744-50-69 prev 4hr/ 1hr sw hi zone incl 5749 = Mthly Pivot @/around, 5750 = 61.8% 6092-5409 and 5764-69 = 2 x fibs
5784 Weekly R2 @/around and 50% 6165-5409
5789-96 3 fib cluster
5802-06 prev minor 4hr sw hi zone
5811 85.4% 5888-5409
5830 61.8% 6092-5409
5854 61.8% 6128-5409
5859-75-88 prev Dly/4hr sw hi zone incl 5874=61.8% 6165-5409
5875-5890 Daily t/f descending trend line
5910 Weekly R3 @/around
[ 5912-31 prev 4hr sw hi zone incl 5930 = 76.4% 6092-5409
[ 5925-40 Steepest Weekly t/f descending t/line
5959 76.4% 6128-5409
5985 76.4% 6165-5409
5990 85.4% 6092-5409
6024 85.4% 6128-5409
6052 85.4% 6165-5409
6076-92 prev Dly/4hr sw hi zone incl Monthly R1 @/around 6076
6096-6117-6128 prev dly/4hr sw hi zone
6130-39-65 prev wkly/dly/4hr sw hi zone
6173 = 76.4% 6454-5270
6181-6208 prev minor Daily sw hi zone incl 6181 = 61.8% 6746-5270

G/L

...don't want to do all the work for others that are too lazy to find it out !