Cable Update (GBPUSD)

Just landed in jersey and no real move

choppy session...

It does not look like the news was going to make any difference regards E

Dt at 2194 and triple hit on 2140 and it looking like double doji on the day possibly . So due for a move soon .

Euro/USD moves with almost one percent and GPB/USD hardly moves

Put up a good fight trying to hold that weekly cam level, , dont think enough buyers stepped in to pull it off tho,,,,,,, good quarterly level around 2069 area , may be headed to that ,,,, time will tell, have a good weekend .

time will tell , but could likely test 1.2000 again

nfp doesn't affect this pairs I think, because the strengthen of euro.

Two consecutive daily dojis on the daily chart and bullish divergence starting to appear on the H4 chart.

I'm looking for bullish confirmation before going long.

As I've mentioned in a post recently, for me, the USD only stands to lose from it's current position. Rate hike already priced in, everyone is expecting it, USD is high against most currencies (excluding the run up on the Euro last week).

I think if the Fed hike, USD slips. If the Fed doesn't hike, the USD tanks.

There might be a little lower to go first, but I'll be waiting in the trees for some longs.

Ideal entry point, for me? Around 1.2135.

Happy Sunday and good luck this week.

Would you like to track the EURGBP this week? You may find this perspective helpful.

The pair has been on the ascent on the monthly time frame since December 2015. On the weekly time frame, the order flow has seen two clear price waves northwards with accompanying pullbacks and the major ascending trendline has been well respected. The most recent price action saw a 32.8% Fib retracement of the 2016 high from the November 2015 low and a bounce off the ascending trendline, perhaps preparatory to another price wave upwards. A hammer candlestick formed three weeks ago signposted the follow-up bullish action of the past two weeks. The bulls apparently seem to be in control and the technicals on the weekly time frame are in support. However, realize that price action is at a significant resistance zone around 0.8787 and there are other minor hindrances on the way up, 70 – 150 pips. Thus, any long trade should best wait for a retracement to be profitable, worthwhile or less risky. Details on this and a few other pairs are given on weekly technical outlook.

I may be wrong. Trade safe and prosper.

KP

I want to travel southwards with cable. Here's why!

The pair maintains a bearish disposition on the weekly time frame. After a bullish retracement in January, price action has returned to a bearish mode although the momentum is still weak owing to resistance from the bulls. Nevertheless, the technicals on the weekly time frame still favour the bears.

On the H4 time frame, price action is consolidating in a significant zone (bound by sandybrown coloured lines), adjoining the January gap down and may remain so for a while. This gap has never been visited since January and any break of the zone southward may target the low around 1.19914.

I may be wrong. Trade safe and prosper.

KP

Pound enter consolidation mood while still within negative territory ahead of Article 50 to be triggered, downside seems capped around 1.2130 level, and upside 1.22 is key resistance level.

The GBPUSD has been very volatile, but the pair has no clear direction. The consolidation continues below the 1.2200 level.

Little more going on under the surface than 1st meets the eye by the looks .

Besides the heavy weight events this coming week (FOMC rate hike and trigger of article 50), statistics also showed that a big move is on the way.
Personally I favour the upside.

craftsman

CFTC net position is nearly at historical low since there is track record, noticeably the leveraged money is holding large amount of short which is highly sensitive to market change.


craftsman

At CMC 80% of customers that earns money is long in this pair. This morning it went through several resistance areas 2188,2200,2213,2225 with more power and volume than we have seen the last week.. RSI var 20 in this pair and ready to move up again.
From FF:

GBP/USD: Bearish: GBP to grind lower to 1.2100.
GBP eked out a fresh low of 1.2133 last Friday before rebounding quickly. The price action continues to suggest that this pair is trying to form a base but only a move back above 1.2230 (adjusted from 1.2250) would indicate that the current bearish phase has ended. In the meanwhile, further slow grind lower towards 1.2100 is not ruled out even though the odds for such a move are not high

It went to 1.2240 now 1.2223 so lets see where it goes.

Also the election in Netherlands on wednesday can make an upmove in the GPB and downmove euro if Geert Wilders come in a position.The turkisk noise this weekend can strengten him(at the movement the market does not think it will happen.

All bad is baked into this pair. Talks this weekend abouth not reaching a deal. They have 3 years to get an deal with EU. In addition EU is dependent on the UK for trade. Uk imports more than it eksports.The bearish thing in this is if UK is falling apart(ref Scotish election)

Better wait for the next day candle,

Where did you get this data from out of interest?

It is in the system customersegment. We can see whether the majority is short or long and in addition it is divided in the best customers also where they have their positions.
In FF the position is 67% long and 33 short.
Norway is not a member of EU and have managed perfect withouth beeing a member og the EU even with a very bad deal.
It comes down a bit now with the rising USD but it looks stronger today than days before. We will see. Hope it will og over 1.2230 today. Resistanse 1.2239

Looks as if it has lost it fuel now.