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Cable Update (GBPUSD)

  • #431,161
  • May 22, 2016 5:02pm May 22, 2016 5:02pm
There is no clarity on GU atm. Pa is flat - sideways - on both the daily and weekly tfs. Trade safe, wait for clarity.

KP
Do your homework, follow the footprints of smart money
  • #431,162
  • May 22, 2016 6:14pm May 22, 2016 6:14pm
GU Weekly. Looks like a bearish flag but a break of the 61.8Fib Fan line could be significant.

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Indentify > Plan > Accept > Execute
  • #431,163
  • May 22, 2016 6:45pm May 22, 2016 6:45pm
looking at my mtf hybrids, I think we are heading down to 4330 area next after breaking back below 1.45
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Come with me if you want to live....
  • #431,164
  • May 22, 2016 7:14pm May 22, 2016 7:14pm
as i mentioned before guys i am on sell so that is what i have done and will be looking to sell near or anove 1.4530-40 and target will be 1.4400 and then we will see what happens after that..
Good luck Folks
Wish you all the Best..
  • #431,165
  • May 22, 2016 7:21pm May 22, 2016 7:21pm
A couple of things to note - Monday is usually a quiet day

Also there is no major figures coming out for these pairs

However, I thought I would provide a summary of where the GU is;

Fundamentals: Bearish

US- more likely to raise rates
UK- more likely to cut them

Current Sentiment:
Bearish

Current position- Sold off on Friday

Volume - Low volume down bar

News:

Williams says - Fed will do what they want

http://www.forexfactory.com/news.php?do=news&id=591960 (bearish)

Bookmakers slash Brexit Remain to 1/6- (Bullish)- but this just re-confirms an earlier result

Economic Reports
US - getting better
UK - still poor - although latest RPI figures improved


Overall position

Now that the Fed has turned more hawkish- think we will see more selling of the GU in the short term.
Brexit seems done and dusted. But we need to keep our eyes peeled.
  • #431,166
  • May 22, 2016 11:58pm May 22, 2016 11:58pm
Cable has found some support around the 1.4500 level, from here the price may go back up towards the 1.4600 or break to the downside to the 1.4400 level.
  • #431,167
  • May 23, 2016 1:26am May 23, 2016 1:26am
Attached Image (click to enlarge)
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  • #431,168
  • May 23, 2016 1:42am May 23, 2016 1:42am
Hi HalBot
Is retracement complete ? H1, H4 and Daily show upward move.
  • #431,169
  • May 23, 2016 1:46am May 23, 2016 1:46am
Quoting Dano12
{image}
Where C D is expected to go ? 1.4600 ?
  • #431,170
  • May 23, 2016 2:09am May 23, 2016 2:09am
Quoting arasheed
{quote} Where C D is expected to go ? 1.4600 ?
if now 4 to 5 more 'down, but now we play Probably resistance test


We see on resistance
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  • #431,171
  • May 23, 2016 2:29am May 23, 2016 2:29am
Quoting arasheed
Hi HalBot Is retracement complete ? H1, H4 and Daily show upward move.
all looks bearish atm, H4 supported by 50 sma at 4476, drop below that I think it will free fall...
Don't Leave Money on the Table
  • #431,172
  • May 23, 2016 3:07am May 23, 2016 3:07am
Quoting Fader123
A couple of things to note - Monday is usually a quiet day Also there is no major figures coming out for these pairs However, I thought I would provide a summary of where the GU is; Fundamentals: Bearish US- more likely to raise rates UK- more likely to cut them Current Sentiment: Bearish Current position- Sold off on Friday Volume - Low volume down bar News: Williams says - Fed will do what they want http://www.forexfactory.com/news.php?do=news&id=591960 (bearish) Bookmakers slash Brexit Remain to 1/6- (Bullish)- but this just re-confirms...
I think the Fed hawkish position is a bluff, they will not rise rates any time soon.
  • #431,173
  • May 23, 2016 3:14am May 23, 2016 3:14am
Quoting arasheed
Hi HalBot Is retracement complete ? H1, H4 and Daily show upward move.
I have DP as 4530, a rise above that could be bullish up to the 4560 area...maybe more depending on how traders are feeling LOL
Don't Leave Money on the Table
  • #431,174
  • May 23, 2016 3:18am May 23, 2016 3:18am
Quoting HaLBot
{quote} all looks bearish atm, H4 supported by 50 sma at 4476, drop below that I think it will free fall...
Gbp went down upto 1.4481 now again up above 1.45 ie 1.4525, atm looks sideways.
  • #431,175
  • May 23, 2016 3:21am May 23, 2016 3:21am
Quoting arasheed
{quote} Gbp went down upto 1.4481 now again up above 1.45 ie 1.4525, atm looks sideways.
looks like it could go higher, doesn't look sideways to me...
Don't Leave Money on the Table
  • #431,176
  • May 23, 2016 3:31am May 23, 2016 3:31am
Quoting arasheed
{quote} Gbp went down upto 1.4481 now again up above 1.45 ie 1.4525, atm looks sideways.
Nice little bounce of 4481, wish I had taken a position for 60 pips...
Don't Leave Money on the Table
  • #431,177
  • May 23, 2016 3:36am May 23, 2016 3:36am
Quoting arasheed
{quote} Gbp went down upto 1.4481 now again up above 1.45 ie 1.4525, atm looks sideways.
Yeah it was driven up by a sell off of euro/gbp, unusual seeing as Euro dropped as well, can anyone out there enlighten me? I'm not sure why....

maybe because of a rise in nikkei...????? and a jump in The Dow...
Don't Leave Money on the Table
  • #431,178
  • May 23, 2016 3:58am May 23, 2016 3:58am
rise in equities across the board...
Don't Leave Money on the Table
  • #431,179
  • May 23, 2016 4:06am May 23, 2016 4:06am
Quoting HaLBot
{quote} Yeah it was driven up by a sell off of euro/gbp, unusual seeing as Euro dropped as well, can anyone out there enlighten me? I'm not sure why.... maybe because of a rise in nikkei...????? and a jump in The Dow...

About GU to me it just seems to have tested again the low made during the asian session. If you look at the weekly chart you'll see a clear S/R zone there.
I'm long with min target @1.48.
  • #431,180
  • May 23, 2016 4:08am May 23, 2016 4:08am
staying long until price is above 1.45,, target 1.46
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