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Cable Update (GBPUSD)

  • #431,121
  • May 20, 2016 6:52am May 20, 2016 6:52am
Quoting arasheed
{quote} Last hour candle of London session is Down,so NY open may go UP??
To me the hourly doesn't look bearish, just a continuation of the sideways movement for the last 5 hours, if it drops below 4550 then I would say it's bearish in the short term..
Yes on NY opening we could see a rise..
Don't Leave Money on the Table
  • #431,122
  • May 20, 2016 7:02am May 20, 2016 7:02am
The funny thing about news is that it is used by the powers that be to move the market

But it's great to see that people are looking at news events and what impact it will have on currencies
And how they view current sentiment

Obviously in addition to price and volume action

Then factor in buying and selling times and levels
  • #431,123
  • May 20, 2016 7:05am May 20, 2016 7:05am
It looks pretty bearish on the daily time frame to me, considering that doji candlestick. I am selling again.
  • #431,124
  • May 20, 2016 7:15am May 20, 2016 7:15am
Attached Image (click to enlarge)
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  • #431,125
  • Edited 8:04am May 20, 2016 7:19am | Edited 8:04am
Quoting Fader123
The funny thing about news is that it is used by the powers that be to move the market But it's great to see that people are looking at news events and what impact it will have on currencies And how they view current sentiment Obviously in addition to price and volume action Then factor in buying and selling times and levels
Except for today being a Friday, news would only have temporary impact against the major market direction except it is in line with it. Any news that turns pa against the major market direction during other days of the week will not have lasting effect. In a matter of 1 hour the market will turn to its previous direction.

KP
Do your homework, follow the footprints of smart money
  • #431,126
  • May 20, 2016 7:25am May 20, 2016 7:25am
Dollar index starting to fall could see rise in euro and cable...
Don't Leave Money on the Table
  • #431,127
  • May 20, 2016 7:26am May 20, 2016 7:26am
Quoting HaLBot
{quote} Yeah I here you...as I see it the problem is you have these bureaucrats on another continent telling you what to do and creating laws detrimental to you without any understanding of the British people. Euroland is about forcing a monetary policy onto everyone who joins and not caring about the social and political aspects of that country, thinking that's all they have to do is have a common currency to make it work. Basically run by Germany. France & Belgium and feeling leftout the P.I.I.G.S screwed up their economies as revenge. Well maybe...
The Brexit trump card is being played by the out campaign.

Essentially the NHS cannot cope and survive if we stay in Europe. This will sway many of the undecided voters.

In the coming weeks expect major NHS stories from the out campaign, this would point to bearish GBP/USD.
  • #431,128
  • May 20, 2016 7:36am May 20, 2016 7:36am
Since last 6 Hours playing in 30-35 Pips range
Attached Image (click to enlarge)
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  • #431,129
  • May 20, 2016 7:41am May 20, 2016 7:41am
Still holding it. Might close it soon.

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  • #431,130
  • May 20, 2016 8:44am May 20, 2016 8:44am
Quoting attilafx
Still holding it. Might close it soon. {image}
1.45 is the next major obvious area of support. Be interesting to see what happens around here.
  • #431,131
  • May 20, 2016 8:44am May 20, 2016 8:44am
So we add.

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  • #431,132
  • May 20, 2016 8:45am May 20, 2016 8:45am
Quoting el_duende
{quote} 1.45 is the next major obvious area of support. Be interesting to see what happens around here.
Nothing. Dead cat bounce maybe.
  • #431,133
  • May 20, 2016 8:52am May 20, 2016 8:52am
Quoting attilafx
{quote} Nothing. Dead cat bounce maybe.

A lot of confluence around this level with many people playing buy orders here. Fibs and averages too, although I didn't add them to the chart. Im not at home atm so forgive the bad chart
Attached Image (click to enlarge)
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  • #431,134
  • May 20, 2016 9:25am May 20, 2016 9:25am
somethings seem to be in the way at this point
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly.png Size: 26 KB
Click to Enlarge Name: GBPUSDWeekly.png Size: 29 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 28 KB
Click to Enlarge Name: GBPUSDH4.png Size: 28 KB
Come with me if you want to live....
  • #431,135
  • May 20, 2016 2:09pm May 20, 2016 2:09pm
Closed all orders for the weekend.

Have a nice weekend all.
  • #431,136
  • May 20, 2016 2:11pm May 20, 2016 2:11pm
PS>

Resistance now 4521
first support 4468
  • #431,137
  • May 20, 2016 2:34pm May 20, 2016 2:34pm
Quoting attilafx
PS> Resistance now 4521 first support 4468
Libenter homines id quod volunt credunt
  • #431,138
  • May 20, 2016 2:51pm May 20, 2016 2:51pm
I hope 1.4482 break n next targets at 1.4412
Libenter homines id quod volunt credunt
  • #431,139
  • May 20, 2016 2:55pm May 20, 2016 2:55pm
Quoting baliprada
I hope 1.4482 break n next targets at 1.4412
I mean not now but in the near future
Libenter homines id quod volunt credunt
  • #431,140
  • May 20, 2016 4:05pm May 20, 2016 4:05pm
Attached Image (click to enlarge)
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orders filled
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