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Cable Update (GBPUSD)

Needs to break and close below 1.568 today or tomorrow, at the latest, for shorts to be valid at 1.582 and 1.586/7

There will be a final long chance if it breaks 1.568. Entry will depend on 15M signals, don't know if/where it will happen but target will be 1.579/1.58.

One more scenario is 1.573/4 long supported by a 30M short trendline break.

Edit: Everything else just offers horrible RR ratio and is untradable for me.
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close my gbp short.. =)
Quoting Ksth
close my gbp short.. =)
Curious, what is your reasoning for that ?
Quoting alexpi
{quote} Curious, what is your reasoning for that ?
buy low sell high =)
already break my lowest line. Buy now..good luck
Quoting Ksth
{quote} buy low sell high =) already break my lowest line. Buy now..good luck
You're buying really high though... well, good luck to you too
my own analysis . =)
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so 100 % now to look 1,61 fib
Closing-in on a near perfect impulse wave (c) towards target zone for reversal.
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Elliott Wave for optimum entry, exit and risk management of trades
Quoting skyhok
Closing-in on a near perfect impulse wave (c) towards target zone for reversal. {image}
ya hopefully gbp can reach 1.6 that is a good area to short.
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looks like gbp gonna flow back to eur now, grexit deal ends in the corner
Quoting Dano12
so 100 % now to look 1,61 fib
The tp for my shorts is 1.5480 but I might close them at 1.56
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Quoting pipsdotpk
The tp for my shorts is 1.5480 but I might close them at 1.56
Im in a similar frame of mind and position. Just waiting for it to bust through 1.58 though its been taking its time. Still some GU bulls in there even though no data on stream for GBP of any note this week. I can cover 1.6 but but prob no higher (personal bias). UK economy is ticking along better than our EU cousins, but is the recovery economically stronger than our US brothers?
Quoting Dano12
{image}
Dano and lately your charts have been nothing less than a breeze of fresh air to me
Quoting Afterburner
{quote} Im in a similar frame of mind and position. Just waiting for it to bust through 1.58 though its been taking its time. Still some GU bulls in there even though no data on stream for GBP of any note this week. I can cover 1.6 but but prob no higher (personal bias). UK economy is ticking along better than our EU cousins, but is the recovery economically stronger than our US brothers?
Afterburner, data only matters when your considering long term positions, and I agree with your top limit for GBP. Even though the british economy is going smoothly still its shrinking in size due to tight budget and more cuts, P.S not to forget on the long run there are factors like BREEXIT that limitize its upwards movement. But thats just how I see things.
Quoting pipsdotpk
{quote} Dano and lately your charts have been nothing less than a breeze of fresh air to me
They need to break 1.5800 if look on 1,61
Quoting fontu
5950 & 5808 become the initial determinant for the probable next play at this top, breaks up & hold can be 62++ play & down 5440 to 5300. anyway after it got life pressure up remain intact & strong & so test up again & again before any failure temporary or permanent !Month ending/close will look for either 5600 or 6070 around . take care . fontu {image}
so broken down limit 5805 but still on support 5800, 5780\5742 for play top again & again before more correction down continue or not . just primary signal here for correction with next signal at 5770 breaks for 5653\5553\5440 all limits down for bull continue if. that is bull set up to fail or good crush need for all this down while momentum still strong UP.
take care ,
fontu
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