Cable Update (GBPUSD)

This is how I see it on the daily

The Fitch downgrade for the UK I assume.

Pound/Dollar - Daily

Yea I see your point ,but I dont know about that tl

What I see is a head and shoulders on the 4HR time frame and a very strong retest on Friday. The retest failed to break the right shoulder high and price then fell away.

I am looking at the start of next week at least being bearish depending on how much we gap down due to Fitch's downgrade of the UK.

Actually, 5125 area looks promising on a second look.

Everything seems showing that the trend up is finished , but I would like to see a clear break of the triangle this week and the star of the down channel to be sure .

i agree..

We may see a big gap on Sunday. Look:

Italy's Napolitano re-elected for 2nd term after Bersani resigns over presidential crisis

http://rt.com/news/italy-political-c...president-142/

What effect maso do you think it will have on the EURGBP? A gap up?

Well, the pair EG is generally bullish. Moreover, sterling is under the downward pressure. But anything may happen because of weaknesses of Yen. Because it helps USD.

1.5201 potential place of confluence

Good Morning , So a bull try in gold & eu specially , gap up , filled & continue a little . ok but no hope specially in eu & to some extent in gu too but certainly a turmoil can happen before a great crush , mini ok too as start .Monday! so turmoils /ranges as usual perhaps .

If gold actually at this situation 1425.48 & 27 $ then that will be the last leg up for final down , may be shortcut not 1553 high .better go down & take further support confirmation at 1358 or lows with next probable camel action strong to that highs.
fontu

I am expecting a re-test of the weekly support at 1.525-1.527 before it heads south.

It's Monday today, prefer ranging trade. The test south of 1.52 level then head up 1.5280 before any true move occurs

on the bigger picture, if 1.5200/10 [23.6] holds, it will re-test 38.2 and 61.8 of daily chart. There's both buying and shorting opportunity. I prefer long if its on daily's entry and targets, as 23.6 acts as my support with small stop loss. Intra-day, still going with fibonacci range or trend on hourly and 4hourly.

May not see 1.5180 or lower before seeing 1.5270 or 1.55

I hope GU go to 1.5360

GU

I don't wanna analysis the dominant Trend right now, and just suggesting the strong Area for Long and Short Entry Position

Area between :
1.5288 --- 1.5320 is Strong Area for Short Position

1.5170--- 1.5138 is strong Area for Long Position

Closing Daily Candle above 1.5380 will send pair toward Monthly Resistance
Closing Daily Candle below 1.5130 will send pair towards Monthly Support

230 hold -> 260 next

if upward momentum and vol are strong, should struggle a bit between 270 and 300.