Cable Update (GBPUSD)

Quoting HaLBot

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{quote} Interestingly though this weeks, Weekly Candle although an indecision candle is bullish and I'm tipping gains to the 3400 to 3450 area. However if we can't hold onto those gains then a pullback to around this current level by the end of the week depending on what's ahead news wise.... It's in the governments interest for the Pound to weaken....No doubt very happy with the drop after Brexit, gives them some wriggle room....

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Quoting Ill-b-back

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{quote} yep most likely, spike up this week is on the cards

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Quoting Bones

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monthly close on sunday, most likely would close within last {image}

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Quoting HaLBot

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{quote} Nice one Ill-b-back, love these 'Long Game' views you and Bones keep us all updated with...puts things into perspective..

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Quoting braintheboss

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{quote} When I see a candle like that I think 2 things. A new candle open upping will confirms the swing or first will cover a part of that shadow before go up. I saw in lower TFs full the shadow making a low retest too but that kind of movement at Month TF are so serious for think bulls are fake. And we have a very delicious gap I think nobody will want ignore. And finally we have lastly GBP data were not bad even Brexit is not reflected yet. I think we will close gap after a fake down movement

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Quoting Bones

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could be ,its not easy to cut through all these levels and see free fall even with the large candle prior ,this candle can be red ,but better is a little up move tonight this candle represents problem down and up this month {quote} {image}

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Quoting Ill-b-back

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gu looks under pressure {image} {image}

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Quoting attilafx

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{quote} Not yet ... Updated my chart. {image}

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Quoting Ill-b-back

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{quote} hi Attilafx, yeah I have the same outlook on my 1hr chart and I will take longs on this lower TF if the right opp. presents itself. My analysis is primarily off the weekly TF (my first chart), this is where I get my overall perspective from and can take time to play out.

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Quoting attilafx

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{quote} Nice. I use 8 hours cause that usually fakes out everything on the lower timeframe. Weekly gives just to much risk since these days FX is all about momentum. 1 day up 2 down, 2 up 1 down, 3 down 4 up etc. It's just whacking all around. As you see, currently it is in bullish momentum. Not going to chase it. Had my EURJPY long overnight already so. Patience is really the key in FX. Took me 6 years but getting there {image}

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Quoting Lock

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[...] that will be retraced quickly that reference (3150) is a clear zone to correct for gb upcoming price action. Note also the weak level made by Tokyo tagging exactly with its low Friday gb session high at 3212. Also please note current Sydney low tagging exactly 3200. [...]all this action upwards from Thursday pit ses. is very weak and that could be retraced quickly during a fire cracker effect [...] Note that we have a huge m30 periods Tokyo cluster exactly at gb June (lowest:edit) low at 3240.

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Quoting Lock

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{quote} during this very slow gb gap up retracing 3240 has been immediately taken out. then it tagged 3212 (that is now very weak) and round 3200 could be the next probable ref to correct. Note anyhow that current B period came from June gb low at 3240 that is now weak. While A period opened and went down exactly from round number 3250 that is also weak: So watch out, all this move is weak.

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