Cable Update (GBPUSD)

GU M15

it looks like compression with an upside bias imo

heading to 1.52. dream run over. yesterday's pattern was convincing but still it rallied. today is looking much worse

not so much any more

bailed out at break even, maybe next week

Looking for cable downside move as upside seems limited and is stagnated imho. A retracement may be in order.

Wassup Nav ...

2 bad news for USD (i.e., Prelim Nonfarm Productivity q/q and Prelim UoM Consumer Sentiment), GBP/USD supposes to move up. But it does not....

Possibly is time for GBP/USD to reverse.

Let us watch for the movement next week.


Have a great weekend....

Hi all!

I'm new to FF!

GBPUSD is a great pair to trade.

Looks well and truly capped at 1.5650

I am short

Murray math agrees ...

Don't worry the 100 pips is coming... on the downside!!

good day to you, Taomql4

Good to see you around.

All the best

Promise ?

Nice Weekend ..

ok top play > 1 leg up pudendal though & over , so correct down , need break the channel action at 5608 & then 5594 breaks as 1st limit for up to start down. scalping only playing .
fontu

Fibo Extensions... Very Interesting

I think GU is going for correction after completing wave 3. Imo this correction will be sideways as wave 2 was sharp. I took a short @1.5640 target @1.5450.

Which one of the lines is interesting?

Hello FX

Yeah in the same trade GPB/US 15500 TP

I just do pending orders in this pair

Seem to screw everything up

I end up staying in trades for weeks

Best of luck .

Gbpusd closed the week having covered only 39% of 20 day atr on Friday and only 81% of 20 week atr in the week. So far this month, 109% of 20 month atr has been covered and price trades between monthly R1 and R2 pivots.

The Weekly t/f remains rangy between 5751-4811 with recent signs of strength off that 4811 low. No fractal swing created by close of this week's candle A bullish hammer-esq candle with longer lower than upper wick) but we now have a HL and a H above last LH on this t/f in that range. price trades below the 100sma on this t/f which is still below it's 200sma. There has been a decisive upside breech and close of the weekly candle above the steepest weekly/steepest monthly descending trend line.

The Daily t/f saw a bearish bodied spinning top candle close on Friday. This t/f remains in a general opa uptrend with 2 x HL and 2 x HH in the leg up from 5101 although the 2nd HH at Friday's 5655 hi isn't a fractal swing. Price trades above both the 100 and 200sma on this t/f although 100sma remains below the 200sma although beginning to point up ?

4hr remains in a general opa uptrend and it's 100sma is above it's 200 - both pointing up, with price trading above both. 1hr too is still in a general opa uptrend although experiencing some consolidation between 5655 and 5606. Price's relationship with it's 100sma and 200sma on 1hr is as the 4hr and they too are pointing up at the close.

Given the above current tech conditions and everything we currently know, the greater probability in descending order of probability (ie most probable first) is probably as follows;

1. Generally more upside to and even past 5751 previous swing hi
2. Rangy between 5655 and 4811
3. a complete collapse in £ below 4811.

....and should price break to the upside of 5751 - ie the greater probability play out (it doesn't always !) the greater probability should price pullback to the 5751-4811 channel/range is probably as follows, again in descending order of probability;

1. Price finds support in top 1/2 of that range and a 2nd ' truer ' upside breakout occurs.
2. The upside Breakout is false and price returns to the 5751-4811 range/channel and generally ranges.
3. The upside Breakout is false and price collapses through the bottom of the said range/channel at 4811 to the downside.

The most interesting variable running into the year end may be when and how aggressively the Fed starts to ' Taper ? '

G/L