Cable Update (GBPUSD)

I got 6032 next support followed by 6000 then 5948 which is a tough one

guys can you tell me what is your moving average for 4h chart in g/u?

i want to test somethnig in my platform.

thanx

the bears seem to take over now, last chance for bulls in overtime probably on monday/tuesday

May I ask what that is based on?
I don't see any importance of the number 1.6032

That's because it is Saturday, still have to wait more than 24 hours for trading

Weekly
This t/f is till in a general opa uptrend although the week saw some downside follow thru off last week's bearish dark cloud cover candle at the 6300 HH - now a fractal swing on this t/f. Weekly pip range was a lowly 137pips even less than previous week's 157 and just 57% of 20 week atr (239 pips)
Daily
Friday candle on this t/f was a bearish thrust engulfing closing below the last HL and L - minor fractal swings on this t/f. The general opa uptrend on this t/f is therefore in some doubt as it is showing signs of weakness. A solid close above the last LH may help to aleviate this weakness ?
4HR
This t/f has been generally weak all this last week and desopite rally attempts off 2 x HL's during the week a LL was recorded on Friday's lo/close - although this is not a fractal swing yet. It remains in a general opa downtrend. Downside breech of the ascening trend line also occurred on Friday and the last 4hr candle was a bearish engulfing.
--------------------------

Last week's Low came at the top of the previous minor weekly/daily swing hi zone (previous resistannce) and the 1st question for the new week is whether this will offer any more support or is Friday's Daily candle a guide to more downside ?

Potential support factors to the downside: (incl new Weekly Pivots)

[ 6065-60 prev 1hr sw lo zone
[ 6060-24 prev minor Weekly/Daily sw hi zone (non immed) incl 6058-48= 3 fib cluster, 6045-36 = prev 4hr sw lo zone incl 6035 = 50% 5769-6300, and 6034 38.2% 5601-6300
6019-07 prev 4hr sw lo zone incl 6017 = Weekly S1 @/around
6002 61.8% 5817-6300
5995-90 ascending Daily and 4hr t/lines on present 4hr candle incl 5995= 61.8% 5805-6300
[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 incl 5970 = Weekly S2 @/around
5952 50% 5601-6300
5932 76.4% 5817-6300
5926 Monthly S1 @/around
5923 76.4% 5805-6300
5910-5893 prev 4hr sw lo zone incl 5894 = 38.2% 5234-6300 and 76.4% 5769-6300
5889 85.4% 5817-6300
5879 85.4% 5805-6300
5873-60 prev 4hr sw lo zone incl 5869 = 61.8% 5601-6300
5847 85.4% 5769-6300
5833 Weekly S3 @/around
5824-16-03-5799 prev Daily/4hr swing lo zone (prev Weekly sw lo zone to 5803)
5796-88-5769 prev Daily/4hr sw lo zone incl 5769 = 76.4% 5601-6300 and 50% 5234-6300

G/L

oooo guys common on man!!..its saturday and people waiting to see yur faces and u waiting for market..which is shut..

stay fresh for market open..huge pippies coming ..its looking like a sell..but wait for a pullback!!..

will post detail analysis over weekend some time..enjoy

sell on pullback is in my playbooks now....

ot oh this thread is bearish I might buy next week ,haha just kidding

It's just a descending 50 fib. I see strong visual support at 6000 and particularly 5948-also 50 fib.

5896?

possible... and if it stalls there, H&S trade en route..... and this time lows will be around 5000 rather than 5210...

oh man.. seems like i'm not gonna get a new hat..

anyway, look at the latest run from 5800-6300, cable is making new high & new low and there's TL supporting bullish view if you connect the lows..

as expected, aussie consolidate on daily so is fiber & kiwi..

anyway, good analysis mate

all green pips to you!

You too Specs, have a great week mate.
Moving my reply of thoughts to my journal as it seems more appropriate to be there.

I see the following important points on a way down before the serious retracement on daily : 1.5990 1.5918 1.5816
Currently in short from 1.6190
Numbers in the area 1.5950-1.5918 are more probable for braking down movement

have same speculation.

e/u low 12850/1280
g/u 16010

about aussie and kiwi i think will go lower but my charts dont give me clear picture and i wont trade them for now.

Can you explain the significance of these price points you mention as you see them ? Thanks.

5990 being the ascending daily trend line ?
5918 I don't see this - nearest thing I have is 5923/24 which is 76.4% 5805-6300/85.4% 5861-6300
5816 being in a previous Daily/4hr swing lo zone leading down to 5799 ?

G/L

So, the basic question is this: Is Friday's Daily bearish thrust candle a guide to more downside -or- will the previous minor weekly/daily swing hi zone extending 6060-24 provide support from this topside as it did resistance from the underside ? In this zone there are 5 fibs of the major Weekly/Daily swings up from and including 5234 to 6300 as well as 3 x fibs of the minor 4hr swings up from and including 5861 to 6300, making in total an 8 fib cluster between 6058-28, and the majority (5 of the 8 total) falling between 6050-28.

G/L

These points grow out of the analysis of my trading system and can have difference from data of the analysis of other systems
The red line is support on daily and the point 1.5818 is border of a standard range (isn't shown)
This point is approximate. It is impossible to tell that the market will react just on it. I chose it as the most probable because there is one of MA lines of my system on this level. (Sorry, not all instruments I can show as they commercial)
I almost don't use classical Fibо I prefer Fibo extended (look at green circles) it is possible to earn on them