Cable Update (GBPUSD)

news might be good but where is the market going,, ready to pull mine to , like to see momentum now,

remember yesterday the move came after the news broke out long off a triangle and the went short,, it even foiled our man from fxstreet Anil

Fundamentally, looking at the big picture, I think there is a solid argument for a meaningful correction in the USD from these levels. The US macro data has been far from good over the last few months. Factory orders for instance, recently dropped for the 6th consecutive month, a "rare" event which normally happens during a recession. And that's just one example. Even the much hyped NFP figure came with a list of negative caveats, including non existent wage growth and low participation rate to name a couple. Add to that a contraction in 4th quarter GDP and I guess it's safe to say that the US economy does not look so hot (perhaps the US citizens on this forum can share their opinion on this). Why else the FED has not hiked yet? Because if they did all QE induced asset bubbles would burst and possibly cause a severe recession. In fact we're getting a taste of that even before the alleged coming rate hike that the market seems to have taken for granted: stocks have erased the entire gains for the year, bonds are dropping, USD index breaking new record highs for the past decade pretty much every day, etc etc

If the economy was doing so well, would it really be such a big deal to hike a mere 25 bps? And what about all the drama around the terms used by the FED, "considerable time", "patience"? It seems to me that the FED are finding themselves stuck between a rock and a hard place. On the one hand they want to keep the expectation of a rate hike alive, on the other hand if they do raise rates in a very fragile economic environment, they know that the consequence of that might be that they will have to bring back QE down the road. Let's also remember that the recent FOMC minutes showed a remarkable dovish tone.

Considering the above and considering that GBP has dropped 15% in less than a year vs the USD, recent UK economic data are as good as they can get within a context of global economic slowdown and there is no divergence in monetary policy (supposedly) between the BOE and the FED, cable in particular seems like a good candidate for an extended retracement to the upside.....

all off 2 loaded plays plus normal lots

stay around this area until US Unemployment claims and GBP's carney speaks

https://charts.mql5.com/7/244/gbpusd...ts-limited.png

Stuck again here due to E/G and EU bounce. Waiting patiently for a break of 1.4950 initially, then 1.4905 and below for 1.4780 in the following week. 1.5020 breaks it for me (SL's there).

Another opportunity to short this pair or add to a short. Pretty sure we're heading right back down very soon.

imo , your bollinger and rsi setup are works

I don't see the RSI at all during the day or low levels. Just noticing when it passes below / up from 50 on the daily for trend continuation and in accordance with the middle 34 EMA's. BB's I use on 5m, 30m & 1h in conjuction with 34 EMA's for placing positions. Other than that I mostly trade on gut feeling & high leverage. That's why I am constantly losing about 200 eur per month

I couldnt have said it any better. I agree with everything you said. I feel there is a "surprise" drop in USD Index coming to around 88 (Healthy correction). GBPUSD should test the recent high of 1.5550. I believe GBPUSD is in a trading range between 1.49 and 1.55. We will soon see if we are correct...

Consider correction, then returns to the direction was. The scenery is strong sale .... the purchase volume over the previous bar is much lower

Cable between a Rock and a Hard place.

Expecting lower before higher.

$ is hot property right now and I'm not surprised

Or this I guess

Good day IB, longer term,, rock or hard place maybe to day we will see were its going ..g; Regards

tp hit did not see that coming , gone short sl on 30 remember yesterday broke of that triangle and went short, let see

bang on the nose to no shorting this one yet

Good morning (for you) Billy.

Yes, focusing on one of the lines and considering the various reference point options, I see resistance lines above and target lines below

With the speed that rose, is returning to trend

just holding short for now till it looks like it makes its mind up ,, i got caught yesterday not today,, lets see if the short plan works out to 4800

1 hr respecting so far.

Let's see if news shakes it up or not