Cable Update (GBPUSD)
{quote} Looking at 1.4020 thereabout as well. Like you have mentioned, might be worth the risk....... not just the FOMC, there is BOE coming up as well, action pack week
closed on 30 pips 141 000 target 90 pips for the day all done daily aim as always 40 pips so not bad .. double plus some change
{quote} Looking at this H4 it seems logical they will buy back what they sold. Brexit is what june if it pans - people on the street say what they had enough of Europe.] So where would you be higher or lower before June if a sell is on the cards - look what happened the other week when Boris gave his opt out thoughts before the markets opened on that Sunday .. what was it 500 - 600 pips in two days or something .. {image}
...Hard to tell. Major banks expect a stronger dollar after the FOMC. Guess we shall find out later on. I see the pound going for 1.60, but i don't think this would happen before the Brexit, so for me 1.37 seems closer than 1.45.
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{quote} Actually it looks kinda of bullish at this point..... if not for FOMC i would have bought some. This 1.407 level may be the support that the bulls are looking for a bounce. Maybe we won't see a 1.40 test at all.
{quote} That's why i love scalping Nick - at the end of the day you know exactly where you stand as every thing else is just smoke and mirrors
{quote} So true. Scalping helps avoiding exposure to the market. FOMC starts in 56'. GL.
{quote} Actually it looks kinda of bullish at this point..... if not for FOMC i would have bought some. This 1.407 level may be the support that the bulls are looking for a bounce. Maybe we won't see a 1.40 test at all.
{quote} Cable is quite risky to long now, i suggest you stay away unless one of two occurs:
1. retest of today's low (or even a bit further up to 1.4065) with a strong bounce up on the 1 hr & 4 hr charts
2. PA dropping to 1.4025 - 1.4000 zone with consolidation in the way down, this might give a good opportunity for an amazing R:R trade
generally speaking I'm on the sideline for the time being until the FOMC "noise" is over and then will consider my position.
