Cable Update (GBPUSD)

They always blow out their spreads during big news events.

Well many professional traders stay on the side lines when there is high impact news, so theres wild swings in price as sellers looking for buyers and buyers looking for sellers...it's just like any other high impact news event, spreads widen and I'm guessing it's to prevent brokers from losing money, they need to make sure things are always stacked in their favour....

Several minutes ago liquidity was down 24% below average, it's now 10% above average...just shows how many players were not trading during those wild swings

this is the formation cable is showing.. i wonder why it should be showing this when other GB pairs are strong. This is the formation i am seeing. it does not make sense to me so no trading it. i am looking for NZD weakness and CAD strength today lets see how today pans out.

Good morning.

The US pit session situation in a visual recap.

1. Yesterday Pit session was very narrow and inside the 07.27 very wide pit session range.
2. Same thing about value: yesterday pit session value was inside the 07.27 pit session value.
3. We have now a bracket of 8 pit session where all the stops are at the same level 3074.
4. Also, we have two poor lows one for 07.19 and an other for 07.22

This situation should lead to a breakout. And I could see 3 possible scenario for the upcoming pit session(15:30 +1gmt):

1. Remaining in the middle of this bracket for an other day, waiting for a major maturation of the composite poc.
2. Going down to remove the stops at 3074 and come back in to the bracket go to the opposite side of it.
3. Going down, remove the stops at 3074 and accelerate below down to the old gap up starting around 3015.

There could be also a less probable scenario that in any way could merit our consideration:

Current Tokyo, GB and preUS sessions building a gap higher from yesterday pit session high, giving to the upcoming pit session the possibility, at least for now, to skip totally the stops below at 3074 zone. (But watch out! A gap higher from yesterday high, right inside this bracket, could be, in any case, easily retraced by the upcoming pit session. Then a possible gap higher is not an absolute warranty in order to skip the 3074 zone.)

Obviously Tokyo, GB and preUS could build a gap down and in this last particular case if the gap will end below 3074 zone all those stops will be removed automatically when pit session will open.

Have a nice trading everyone

GBPUSD just entered into a new range zone where 1.3160 to 1.3200. 1.3160 is the most heavy loaded level. then 1.3190 and 1.3200 follow one step behind, two steps behind are 1.3170 and 1.3180.

i have no idea for how long the rate will stay there, cause there are some GBP and USD news today. it might be just for 3-4-5-6 hours or it could be for 1-2-3 days. for the time it stays in this range (longer, the better), you guys can scalp any 30-40-50 pips, cause it will move back and forward.

be careful with grid eas, cause you might get killed there, if the range lasts for longer. absolutely avoid the levels that are at the center of the range. manual one trade orders can trade these dangerous for the grid ea traders levels. easy 30 pips are there for you, folks.

within the range, good levels to short it: are 1.3210/20/30/40/50. same, within the range, good levels to long it are: 1.3150/40/30/20/10.

the range breakout levels are 1.3280/90 and 1.3080/70. if the rate reaches those breakout levels, the present small range will be no more.

Yesterday forecasting arrow gave point for open long. I'm waiting 1.34 in soon time.

In a minor perspective, let's see what could happen during upcoming gb session:

Above we have weak references at:

1. 31855 (inside sesssion hb for period m30 F)
2. 3193 period E tagged the gb session open.
3. D tagged the lowest gb low for June at 3214
4. 32165 yesterday poor high for gb session.

Below I see nothing for gb session but its low at 3137 that is a normal one.

Note that we are now right inside yesterday gb session range/value. So if price remain here we could expect initial acceptation of yeterday range 3137-32165

GU is caged at the moment. GBP is trying to ride the winning momentum of other GBP pairs but USD is also strong... a lot of tugging there. Wish i could stay longer in some trades would have exceeded 10K pips by now. Not advisable to trade GU now GB and USD are fighting lets see who wins... There is also a H1 strong Res at 1.3215

61.8% of this months fib, 50% is the known 1.3135

Yep it spiked up to 3115 around 5 hours ago then bounced away.....

Cable is already above the 1.3200 and i am aiming at targets of 1.3250 in the London session

At least yesterdays high of 3246...

Hey Lock what do you have as todays opening price???

I've got 3159...

i dont understand u???
seems GU is following that my earlier forecast which i didnt like.

It is 61.8% of this months (low to high of the month) fib.

Hi HaLBot, gb session opened at 3181, while Tokyo at 3160 exactly as Sydney (that was also the yesterday pit unchanged obviously). By the way it could be also 3159 a single pip makes no difference for me.

Note the big composite cluster at 3171 (Tokyo cluster of m30 lows plus current B/C gb period lows). Take this information forward.

Yes Asian session.....

Hey I was driving around Western Sydney in my Lambo with a trailer on the back......So What....

http://www.watoday.com.au/national/2...29-gqgj15.html

This is one of those days where you can feel that it will spike higher. No big events and a PM whose is talking about working together with EU. The GBPUSD gapped up when it was announced that she would become PM, momentum on that event is still there.

I would say it has the room to move to 1.33 today.

Please, again, note the precision of Dr.Phoenix