Cable Update (GBPUSD)

come on drop like a brick!

You think this will drop fast soon?

was hoping for it but price doesn 't seem to go down terminated the trade

My charts say the price will go down between now and New York close. Not a crazy movement, but down. 1.41200 tops.

Im holding my short for a little bit. Gonna play a small gamble here

For those with an eye for the obvious and want to believe it, I'm sure it's pretty clear what's going on here now.

PA shows a nice rejection off the TL and 23.6 fib with a new low.

Daily shows untested resistance at 4434 area.

If I was to drill down to the 4hr, I'd say we have a potential rejection area in blue for price to continue down from once retested.

The $ is in a nice little rally (when looking at higher TF, say daily). It's no where near full steam yet, but after a couple of more little dips, I think it will continue up.

i am out for today starting to do overleverage trades to compensated my 5% drawdown today

I guess that's the thing with tech analysis, so many potentials.

Here's Version 2: make up your own minds I guess

Interesting point there have a target area around the 142 500 zone

from 140 850 .. lets see how it plays

as per usual trade stance

one can see the possible

Hi Dean, yes, could go there.
Looking at the power of rejection from 4290 area (38.2 fib), upside maybe limited, but trade what you see and hope you make green pips
Got to go and get kids off to kindy

1min

Cool ..

So I'm still going long am I nuts !!
How do I get rid of junior member status ?
Its stoping me posting in real time!

My weekly risk Calendar:
Seem like thursday is the day!

I highly recommend saving the below events into your google calendar as a part of weekly routine.
Please see further analysis below. It includes Tuesday to Friday trading sessions.


Very light week ahead of us in Forex markets. There are almost no high impact events happening. I guess, all data will be skewed by the situation in UK. So called Brexit caused a massive gap on Cable this morning and volatility is expected for the rest of the week in GBP pairs.

Trading Highlights of the week:
Tuesday, Feb 23th,2016 @ 11:15am – CHF – SNB Chairman Jordan Speaks
Tuesday, Feb 23th,2016 @ 3:00pm – USD – CB Consumer Confidence
Thursday, Feb 25th,2016 @ 12:30am – AUD – Private Capital Expenditure q/q
Thursday, Feb 25th,2016 @ 9:30am – GBP – Second Estimate GDP q/q
Thursday, Feb 25th,2016 @ 1:30pm -USD – Unemployment Claims
Thursday, Feb 25th,2016 @ 11:30pm -JPY – Tokyo Core CPI y/y
Friday, Feb 26th,2016 @ 1:30pm – USD – Prelim GDP q/q

Tuesday
Tuesday, Feb 23th,2016 @ 11:15am – CHF – SNB Chairman Jordan Speaks
Swiss Central Banks has a tendency to surprise the markets. They did come out few times before with a total shock but this time Jordan’s statement should have no echo. They have been saying that the Swiss currency is overvalued many times before and will probably say it again tomorrow. This stance is expected from the markets hence this event will have low impact on the prices.

Thursday
Thursday, Feb 25th,2016 @ 12:30am – AUD – Private Capital Expenditure q/q
It’s a leading indicator of economic health – businesses are quickly affected by market conditions, and changes in their investment levels. It can be an early signal of future economic activity such as hiring, spending, and earnings.
Expenditure is expected to print a negative 3% vs a negative 9.23% previously.
Deviation in both directions can affect AUD pairs.
Thursday, Feb 25th,2016 @ 9:30am – GBP – Second Estimate GDP q/q
This could be a market mover indeed. Two important reports are out at the same time. Second estimate GDP q/q is expected to come out flat at 0.5% Prelim Business Investment q/q is expected at 0.6% vs much stronger 2.2% prior. Any positive number is good for UK economy and might spark GBP buying. This could be supported by the current double bottom printed in Cable this week.
Thursday, Feb 25th,2016 @ 11:30pm -JPY – Tokyo Core CPI y/y
Another potential market mover. As inflation is in the spotlight, JPY CPI will be closely watched by traders. The report is expected to come out at 0%, compared to negative 0.1% prior. Less than 0% is a technical deflation so any positive number will be a good news.

Friday
Friday, Feb 26th,2016 @ 1:30pm – USD – Prelim GDP q/q
Market expects this report to print 0.5% vs 0.7% Any deviations from expectation can move USD pairs across the board. Market would like to see higher GDP. This would increase the odds of FED raising interest rates this year. Personally I don’t think this is the case.

Your status will change soon after moderators evaluate a few of your posts and deem you not to be a threat to anyone

update

s/o'd