Cable Update (GBPUSD)

oh i love fiber...

at last, the breakout of 3200.. as expected.

To all cable traders, i wish you all the best!

if you aren't short cable now you are a fool

4 now $ is flying...!

A lot of bad data in UK and Eurozone this week, the retracement of the rally since 16th Apr is in progress now, no long, short is the right thing to do.

If i were a Longie , I would go Long around 160 - 170


:nerd:

G/M

Yesterday saw a fractal swing hi form on the daily and yesterday's candle bearish. Precipitous drop from recovery attempt to 6237 and a drop to see the previous minor 4hr/1hr swing lo around yesterday's lo challenged now.

@/below here:

[ 6195-85 prev minor 4hr/ 1hr sw lo zone incl 6187=Daily S1 @/around
[ 6190-86 prev minor 1hr sw hi zone incl 6189-87= 4 fib cluster ( 50% 6077-6300, 76.4% 6151-6300, and 23.6% of 5805 and 5817-6300)
6175/73 23.6% 5769-6300 / 6173 85.4% 6151-6300
[ 6164-45 prev 4hr sw hi zone incl 6163 = 61.8% 6077-6300
[ 6164-51 prev 4hr/1hr sw lo zone incl 6156 = Daily S2 @/around
6139-31 prev 1hr minor sw lo zone incl 6135 = 23.6% 5769-6300, and 6132 = Weekly S1 @/around
6130 76.4% 6077-6300
6126 Daily S3 @/around
6118-11 3 fib cluster incl 6112 = Monthly Pivot @/around, and 6111= 85.4% 6077-6300
6098 38.2% 5769-6300
6090-87-80 prev minor Daily/4hr/1hr sw lo zone
6080-75 prev 4hr/1hr sw lo zone
[ 6058-48 3 fib cluster
[ 6055-24 prev minor weekly/Daily sw hi zone (non immed)
[ 6045-41-36 prev 4hr/1hr sw lo zone incl 6035/34 = 50% 5769-6300/38.2% 5601-6300
6019-07 prev 4hr/1hr sw lo zone
6002 61.8% 5817-6300 & Weekly S2 @/around
5995 61.8% 5805-6300
5991-82 prev minor 1hr sw hi zone
[ 5982-66 prev minor Daily/4hr sw hi zone (non-immed) incl 5971=61.8% 5769-6300
[ 5970-62-57 prev 4hr sw lo zone
[ 5966-56 prev 4hr/1hr sw hi zone
5952 50% 5601-6300

G/L

...and if you were a shortie ?

if you desperately want to long, perhaps you might interested at 6060..

Uk Construction PMI at 0928? / 0930am bst

current near-term 1hr below

G/L

what a lovely may
if break last low, next target would be around 6048...
Am i right? *wondering*

I'm a Shortie right now

reaction low testing /broken & if hold & next pb to continue then 60 pips from it 6186 or more can expect . anyway still can abort after breaking & so care to 6171 , 53 to 43-31 also .
Full go 60 pips , that is to 6125 then can expect towards 6061 move .
one thing again action or reaction both can be of 60+ pips & comparative violent even very small in nature .now at 6223 , centre of the gravity for the present move , watching it as pb to continue what doing previously. and breaks 6247 , abortion complete without pudendal block !! go up till the top !
so carefull in taking any action in trades other than scalping .


fontu

I have a chart just like you , but i consider % 78.6 & % 88.6 as

resistances points...

i would love to see cable retest back 6210 area.. i have my PO set at that price.. hopefully the price can manage to get back there..

Looks like the retailers nailed it again turning long at 1.63. Retailers still heavy short cable so could see some chop before NFP. Will look for sells with a stop above 1.6250.

Crazy pound.

Double Good news 4 pound made her fly

maybe toward 285

market is a fruit cake..but this is what happens when theres a lot of diverence on the index which is bullish,,

still fancy down thou

anyway, line in the sand imho is 6230..