Cable Update (GBPUSD)

Wont be trading today Mano...

A battle of 2 x 76.4% fibs so far today - at the current daily lo 76.4% 5788-5878, and at/around the current daily hi 76.4% 5878-5807.

G/L

1.5970 by today... zoommmmmmmmmmm................

Re overall price action (opa) It certainly is bullish 4hr and somewhat on daily, 1hr mixed-bullish, and below 1hr a bit mixed, intraday mixed at the moment.

G/L

Is that redbeben?

Very few clear cut hi-prob trading opps on this pairing so far in the London session...retains a bullish feel overall though I guess, although very mixed intraday, Hi of the Day so far today coming at Daily R1. So far this week only 25% of the 20week atr travelled.

G/L

How will recent 5-30min range resolve ?

G/L

decisive reolution of that recent range to 30min..intraday mixed - bearish now. 30min close at 1000am gmt gave the clue to that with the effective tweezer top above it.

G/L

update..

Price retesting current daily lo @ 5807 (Daily S2 and 76.4% 5788-5879) some demand there.

Intraday turns bearish-mixed now ?

G/L

price drops into the previous 1hr swing lo zone and @ the 85.4% 5788-5879. Daily S3 below here @/around 5778 with Weekly Pivot just below @/around 5775.

Is this a shake out of the weak longs before a 'real move' higher above recent 5879 Hi -or- the start of something bearish ?

G/L

Watching for reaction off 1 and 4 hr 100sma at 58

close my [email protected]..
waiting for long....

further drop down to top of a previous minor 4hr/1hr swing lo zone described below with immediate downside described too under that.

5794-88 prev minor 4hr/1hr sw lo zone incl 5793 and 5789 = fibs

then,

5778 Daily S3 @/around
5775 Weekly Pivot @/around
5758-68 prev 4hr/1hr sw hi zone (non immed) incl 5766 and 5761 = fibs, (5761 being 50% 5643-5927)
5740 61.8% 5653-5927
5734-29 prev minor 4hr/1hr sw hi zone (non immed) incl 5733 = 61.8% 5643-5927
5720-12 prev 1hr sw hi zone
5710-05 Daily and 4hr t/f ascending t/line coming thru on this present 4hr candle incl 5707 76.4% 5653-5927
5699 76.4% 5643-5927
5690 Weekly S1 @/around
5686-80 prev minor 1hr sw hi zone incl 5686 = 85.4% 5653-5927
5678 85.4% 5643-5927

G/L

my view in H4..
TP around ractangle box
sorry if i wrong

you could be right too..but I would wait another bounce to 1.582x/1.584x before another round of short..

Chart?

dotted line is my next short...at supply area

Looking further to the downside:

current daily lo =

5794-88 prev minor 4hr/1hr sw lo zone incl 5793 and 5789 = fibs (38.2%'s of 5643/5653-5927)

then,

5778 Daily S3 @/around
5775 Weekly Pivot @/around
5758-68 prev 4hr/1hr sw hi zone (non immed) incl 5766 and 5761 = fibs, (5761 being 50% 5643-5927)
5740 61.8% 5653-5927
5734-29 prev minor 4hr/1hr sw hi zone (non immed) incl 5733 = 61.8% 5643-5927
5720-12 prev 1hr sw hi zone
5710-05 Daily and 4hr t/f ascending t/line coming thru on this present 4hr candle incl 5707 76.4% 5653-5927
5699 76.4% 5643-5927
5690 Weekly S1 @/around
5686-80 prev minor 1hr sw hi zone incl 5686 = 85.4% 5653-5927
5678 85.4% 5643-5927
5661-53-43 (-5640) Prev dly/4hr sw hi, prev Dly4hr/1hr sw lo zone incl 5661 38.2% 5234-5927
5623/22 2 x fibs
5598 Monthly Pivot @/around
5586/80 2 x fibs
5558 Weekly S2 @/around
5551 61.8% 5318-5927
5542-5528 prev 4hr sw lo zone
5522-12 prev minor 4hr sw lo zone
5499-5483 prev Dly/4hr sw hi zone incl 5499 = 61.8% 5234-5927
5473 Weekly S3 @/around

Immediate upside is per 1hr near-term current screenshot below.

Intraday turns bearish at the moment.

G/L

Well... Cable

my Estimated in Post #300912

Point Key @ Price 1.5858 (Yellow Broken Line)


Good Luck