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Cable Update (GBPUSD)

Quoting Std-uk
Pending order Short @ 1.5670
Yeah, GBP looks extremely overbought.
daily falling t/line now smashed thru....price 5689 at the present high - now above that last 4hr/daily swing hi zone to 5674... at the high challenging that former 4hr/daily swing hi to 5674 and this is part of the former daily swing lo zone (former support) that leads up to 5700/01 which is 61.8% of the recent main 5929-5328 fall. Daily R2 @ 5689, also 61.8% extension of yesterday's pip range, then daily R3 and weekly R2 5750/55 area leading up to a former daily swing hi zone to the 76.4% of 5929-5328 @ 5785. Offers reported at 5700-10 with stops above.

Will this former daily swing hi then minor swing lo zone to 5700 hold as resistance ?

Will the former triple top on 4hr/daily leading to it's highest point 5674 now act as support on any test from above it ?

best wishes.
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it's all gone a bit........
Quoting tashkent
{quote} it will look like this if you put a few stupid lines across the chart yes, i have been speculating it will go up since 1.55 and longs at pull backs is the way to go {image}
Thanks for clarifying. Any chance for a small retrace to 1.56?
Quoting nixdem
{quote} Thanks for clarifying. Any chance for a small retrace to 1.56?
today expect anything. fomc meeting will take place soon and the outcome may change the whole picture.
As Above, So Below
Quoting tashkent
clear, plain and simple. {image}
Go up to 1.58, form perfect gartley there...then sell from there on brexit news...Of course this is just 1 out ot thousands of scenarios..Anw i like ur chart, clean and self explanatory
so far only the big boy hunt SL
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Quoting Didgeridoo
{quote} Yeah, GBP looks extremely overbought.
overbought ?
my long term bias long. absolutely ...

GBP INDEX WEEKLY CHART
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looks like will be fun day, guys
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As Above, So Below
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just back from the dog walk and auto trade was 4 pips out ,
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Quoting elbert3
{image} just back from the dog walk and auto trade was 4 pips out ,{image}
your charts have reminded me, its time for spaghetti on toast
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this chart depends how you see it 61% hit , was it correction and now short , thats how i read it , hence the x on the 4 hour, if not then its going to 1.600 and above
Quoting mrfigure
{quote} your charts have reminded me, its time for spaghetti on toast
if you can make money out of that spaghetti , like that chart , save me some ,,lol
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some more spaghetti .just need a fried egg and toast
Quoting Polaris4dy
{quote} Go up to 1.58, form perfect gartley there...then sell from there on brexit news...Of course this is just 1 out ot thousands of scenarios..Anw i like ur chart, clean and self explanatory
i am very worried about the last hour move whatever was behind it. will wait how hourly and 4h candle will close.
As Above, So Below
Quoting elbert3
{quote} if you can make money out of that spaghetti , like that chart , save me some ,,lol
, i made my daily profit earlier today in the lead up to the u.s session
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5670 rejected now market is waiting for FOMC targeting 100 pips range UP & DOWN

5710 UP
5500 DOWN
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Quoting mrfigure
{quote} , i made my daily profit earlier today in the lead up to the u.s session {image}
Yes i saw your chart well done , so where now , regards just hit that tl that i put up tp,, short order 5600 , and lets see 5633 area to short also,, no longs for now until i see whats going on, gl E
Quoting tashkent
{quote} i am very worried about the last hour move whatever was behind it. will wait how hourly and 4h candle will close.
Yeah mate, will watch for fomc as well...at least that should determine direction for the next couple of weeks
We are at an interesting level now, being structure support (15m chart) 15,620 area. You know what its like, we will likely see a spike in both directions, but this pair has been in a strong uptrend (again 15m chart) since late march early april, making higher lows and higher highs, so when the spike settles I see no reason why the pair should reverse given the good GBP data releases, so I would expect the trend to continue. Currently considering a long @ 15,620.

If we did dip, It doesn't change the positive uk data, so I would buy any dip that reached the 15,580 area
If thats not heading south then i shall retire - well pretty much am these days lol but that surely has to be a confuscious move - got u thinking thats the london fix move right which one high or low and so its south or why shortly are they going to be buying back what they sold to take it even lower .
COOL and wearing em for sure
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