Cable Update (GBPUSD)

Might reject 1.26 again but think pound up to at least 1.2636 today which could be a nice short, lets see.

ok looks like fake, need below 1,2536 for shorts in my opinion, Pound pretty simple right now above 1.26 is bullish below 1.2535 is bearish.

quiet trading day so far ,not much news to stir things up and push it around ,,,,will be working the short side with the weekly pivot and last weeks mid point as tgts will see what happens if and when it gets that far ,,, a trendline gave a nice shorting area , cheers

if goes below 1.2535 i will maybe go short aiming for 1.24

Long if 1h candle closes above opening. PA has touched daily pivot, 5 candles back PA hit and rejected bolligerband, with exhaustion type candle.

daily open is 1.2558,,,,,,,, a nice drop below that then that should be a resistance area

Are we going to see bullish at U.S session back to 1.26xx I smell it

closed all my pound longs , tempted to add short but already big short on euro so probably leave it

And if you viewed the daily open as a resistance point you got a nice little day trade short ,,,,,, now lets work on last weeks high then the weekly pivot , could be a choppy ride or no ride at all lol,,,,,cheers

Seems like a nice short opportunity here at 1.2535 with 35 pip stop. Usually i would be very confident with this trade but the amount of fake outs and traps today has been ridiculous

Well I have no idea what fake outs and traps are it all looks perfectly normal to me.

Talking about other pairs n indices, typical with low news days i suppose.

Pound looking brutal for me but needs to get below 1.25 as could still be fake, above 1.2536 indicates probably fake with above 1.2566 confirming fake. I think target is 1.24 as that never got properly tested on way up, might post chart in a bit to show what i mean. good luck.

Thanks I would appreciate that

Here is the whole thing as I currently see it

The day before the Brit letter arrives

The third target may not work because the bears were not able to hang on to the resistance when they broke out.

2305 is a possible I would not be surprise to see 2424 today

Im short from 2510 with sl @BE, no tp yet

Finally some news to move the Sterling.


craftsman

It’s a correction but still thinking of adding another long at 1.24