Cable Update (GBPUSD)

weekly

http://www.efxnews.com/story/29735/t...eks-cot-report

I have to agree with this article though:

http://www.efxnews.com/story/29726/w...credit-agicole

I don't see what's so hot about the UK economy for all this talk of raising rates to be warranted .

All we did in here is prediction. What matter most is keep our SL in place.

GBPUSD re-visits the strong resistance region; however, chances are higher this time for the pair's rally towards 1.5750 region.

1hr/4hr congestion continues with a recent sell-off in that congested zone......will the 4hr rising trend line survive the sell-off ? Bids reported to 5550 if 5580 goes.

best wishes

Good upside trend.

another 1hr bearish close...more follow thru southwards?

best wishes

I think go to 1,5430

the way I am seeing it in this moment is that weekly still looks constructive particularly after last week's bullish engulfing candle. Daily has no real trend, and 1hr and 4hr are congested trading toward bottom of congestion channel.

Can bears push thru this area on 4hr ? bids reported to 5550 then 30.

best wishes.

GU H1 immediate target. 1.549

blew thru 5550 bids...now deep into that former 4hr swing hi zone (ie former resistance possible support..) and a couple of fibs...was always the likelihood after last 1hr close...that former 1hr/4hr swing lo now becomes possible resistance on any retest from underneath it

best wishes

profit off watch for lower break support to the left

I wonder whether Carney's hawkish tone last week re rate rise before y/e was because of a change in the 0-0-9 BOE MPC's vote at last meeting ?...minutes out on Weds and this and the Uk retail sales data are the only 2 known event risks of note this coming week from a Uk perspective.

best wishes.

5min, 15min then 30min candles closed outside the 20bol at the bottom and as that bol contains 95% of price action it seemed a good bet that price would snap back inside and a strong bounce up from that former 4hr swing hi zone (former res now sup)...only to be met in this moment by former support now turned resistance on 1hr/4hr.

Not much for the longer t/f players right now it's been all intraday lower t/f opportunities really for last few trading days

best wishes

just scalping off 1/5 min see where we are trying to go the 30 min might show a nice move down to the next tl if id that 61% on my 4 hour chart goes , Regards E

former 4hr swing hi, now a minor former 1hr swing lo zone also being re-tested after the pullback to the former 1hr/4hr swing lo zone that acted as resistance from underneath...how many bids left in that 4hr zone ?...bids to 5530 then 5500 reported...next 4hr/minor daily former swing lo zone is down at 5450...some fibs and calculated pivots inbetween.

best wishes

GbpUsd Going up?

1.556 (place to watch whole day). Selling it once again. let's see if we make lower lows today.

Hello,

I attached an image from GPBUSD. It is from today - 1m chart.
I am confused about elliot waves. I know that the elliot wave count is wrong.
Can someone correct it, please?

Thank you,
Best Regards