Cable Update (GBPUSD)

Nice impulse up in minute GU, but UJ looks overdone to the downside and on 5m GU possible W top is forming.

Not to worry, 1.48 has been crossed, just watch for resistance there. 1.4850 may happen soon but not sure, got out with my 50 pips.

rushed it

still under that 200 on 15 min

possible bounce area

4822/4867/4946 magic number 5026, any fail then 4750 again,

My resistance is a little bit higher than yours.

i have short term for profit taking as we are counter , tp was hit 67, 67 is now buy order cold go to the line nice pips out of resistance and triangle trend line

i missed the party

Had to sell that @1.4860

you should close your short. We broke the supply line, in order to go higher.

Take your own decision , other levels at top also there , BO! till 5166!!
fontu

EG hit the 21 dma going down. This move was more EG related than GBP strength. Don't expect it to rise further unless EU decides to stick to its place or go higher. I am safe until my stop gets hit @1.4925 to make a HH.

no way im selling this i those candles look too strong ill watch and wait but i got a hunch this may be trend up this week

I'm still buying....
Scaled half position near 4860.



Now the 4780-4820 area as to hold as support to confirm further upward.
Tomorrow starts a new moth and quarter. There are some interesting levels to the upside to be re tested. first of all monthly pivot area near 1.5320 (could get 2months to get there!!) and even the quarterly pivot (could get even 6months to get there).

I will patiently wait price to develop. Atm still looks like we are having LL-LH indeed i find my self scaling positions every time lower. Maybe something to care into lower 1.47? or even 1.46? mm Time will tell, as always!

Good luck

I also would not understimate 4836 as 61.8% fib of major move came in 18th march.

watch this 850 level dont hold your long in profit, it could eat into it slowly i have a confirm buy order filled as it came back but i have a sl on that open line

Right u r. Still some room on the upside but not sure it would go back to 1.490x- 1.5

Yes, my D chart shows it under the 90d EMA, but what's your point ? The 100 says 1.53, it will not reach that or cross it IMHO, I was just trading a 10 lot intraday for 50-70 pips, not that much interested in what may happen tomrorow , He who trades and runs away, lives to trade another day