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Cable Update (GBPUSD)

CPI and FOMC minutes
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Hello Everyone.

Here is my take on Cable today. It could go down retracing 61.8 to 74.4% of yesterday's move up. Afterwhich it could proceed to breaking that resistance at the top.
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.5684 buy stop...
Anything is math!
No significant push either ways. Sideways till FOMC minutes.
We might not even get a catalyst today or tomorrow. Lol.

CPI data is marginally positive, good against weak currencies but its not going to do much against another currency that is also strengthening.
Luck shines on the positive.
Quoting YvetteTeo
No significant push either ways. Sideways till FOMC minutes. We might not even get a catalyst today or tomorrow. Lol. CPI data is marginally positive, good against weak currencies but its not going to do much against another currency that is also strengthening.
Update: We just touched yesterday's low, can we break it?
Luck shines on the positive.
Quoting YvetteTeo
No significant push either ways. Sideways till FOMC minutes. We might not even get a catalyst today or tomorrow. Lol. CPI data is marginally positive, good against weak currencies but its not going to do much against another currency that is also strengthening.
went up to resistance area first ??
0.1 Percent hey - now thats put the cat amongst the pigeons..
Quoting elbert3
{quote} went up to resistance area first ??
Yes, hit upper triangle trendline/resistance before coming back down. Just another rejection.

Like to hear your view on the current price action. Do you see short or long?
Luck shines on the positive.
Quoting YvetteTeo
{quote} Yes, hit upper triangle trendline/resistance before coming back down. Just another rejection.
i have a pennant shaping on the 30 min might use that as scalping tool , expect a false break of it some where
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trapped some longs then trapped some shorts sneaky buggers aye

regards damien
Here's my triangle, bigger time frame because I seldom scalp.
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Luck shines on the positive.
Quoting Kajos2250
{quote} GU D1 GMT+2 .5659 really sensitive! no BE, not really decided, bullish outside bars, buy limit .5638... trend remains, possibility for a real BO... YPP ~6087 is waiting Good luck! {image}
GU H4 GMT+2

buy stop trigger, but i think the lower left buy limit will be triggered too.
the bullish flag is creating...

Good luck!
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Anything is math!
I expect big market volatile on FOMC minutes after calm day.
5626 then 5607!!!
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Quoting Dano12
{image}
Ill be looking for buys in the little purple square. AKA the 1.5580 area
Quoting SteeP7
{quote} Ill be looking for buys in the little purple square. AKA the 1.5580 area
It's a toss up with what we have coming later today...but a good buying opportunity was just here. Latest 4Hr candle is bouncing off of previous broken resistance.

There is order in what seems to be chaos for this range...the bias is to the bulls right now...it WANTS to go up...but its waiting for the right thing to let it.

The only way you'd get down to that purple square for a buying opportunity would be a very quick move, it would be high risk and candle close would be extremely important, if it doesn't bounce immediately...you'd be looking at one heck of a bearish daily candle.
Quoting Syntrader
{quote} It's a toss up with what we have coming later today...but a good buying opportunity was just here. Latest 4Hr candle is bouncing off of previous broken resistance. There is order in what seems to be chaos for this range...the bias is to the bulls right now...it WANTS to go up...but its waiting for the right thing to let it. The only way you'd get down to that purple square for a buying opportunity would be a very quick move, it would be high risk and candle close would be extremely important, if it doesn't bounce immediately...you'd be looking...
nice plan!
Anything is math!
Quoting Syntrader
{quote} It's a toss up with what we have coming later today...but a good buying opportunity was just here. Latest 4Hr candle is bouncing off of previous broken resistance. There is order in what seems to be chaos for this range...the bias is to the bulls right now...it WANTS to go up...but its waiting for the right thing to let it. The only way you'd get down to that purple square for a buying opportunity would be a very quick move, it would be high risk and candle close would be extremely important, if it doesn't bounce immediately...you'd be looking...
You are most likely correct. Only thing id be buying right now is EUR
Flag here, seems to be bullish
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