GBP/USD outlook

Quoting Ill-b-back

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{quote} A sell stop at 4350? I'm not sure that's a good idea to be honest, it looks like another daily support area and pattern retest. Personally, I'm looking for a bullish bounce from around 4350/4300 area, then see if we get a bullish 4hr TL break. {image}

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Quoting tradeur

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{quote} thanks. i guess i was wrong. thank you for opening my mind.

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Quoting Ill-b-back

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some interesting confluence on the DOW around 18960 {image} {image}

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Quoting Ill-b-back

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I get the feeling we are soon to get a bounce off weekly support level(s) after Aprils bullish monthly bar I think the weekly 55ema above will get knocked out of the park as it makes an aggressive move towards 1.55/200ema area. note red channel break and retest, blue channel next {image} {image}

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Quoting Ill-b-back

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uj looking prime to short soon, waiting for the daily/weekly retest. Currently bouncing off a weak monthly TL, (last chart), I don't think it will hold {image} {image} {image} {image}

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Quoting Ill-b-back

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Cable almost looks like it wants to spike up to 4570-80 area

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Quoting tradeur

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{quote} what made you say that kind sir? how did you anticipate such a big spike? my untrained eyes telling me it's downward move. please enlighten me

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Quoting Ill-b-back

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{quote} hi tradeur, I was watching a resistance area. US news yesterday not great and the spike came before getting sold off. I have a possible hybrid TL retest/50 fib retrace around that area. Bad news today could send it there. I won't go long but would look to short the spike

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Quoting Ill-b-back

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uc broken immediate support after the weekly retest now a nice pattern to trade off {image} {image}

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Quoting Ill-b-back

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{quote} uj {image} {image}

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