Cable Update (GBPUSD)

Plenty of bad decisions made today, so really wrestled with taking or not taking this area before price came back to retrace at the arrow. This would have been a nice little scalp but I thought the demand area wasn't low enough into my target area.

we are in the middle positive of last weekly zone.




OK Cable playing around HIGH and LOW Friday

if it doesn't target 1.2950, then consolidation will cause it to exhaust and drop

Yes this sideways is taking awhile already .....

looks like a bullish flag pattern on the 4h tf

It looks bullish but its not a bullflag

Why do you say it's not a bull flag, because the way it looks right now it looks like a one, however this can easily change over the next couple of days.

As long as cable stays above 1.2700 the pattern formation remains intact.

Cable is holding around 1.2800 level, the pair is consolidating in a narrow range between 1.2755 to 1.2860 while still remain in the positive territory. Any break out would confirm clear direction.

I tend to agree with the bull flag analysis...thinking it will be headed up as it sits atop a support/resistance flip zone. I would think people who were shorting at the top of previous consolidation are probably trying to liquidate their positions for minimum loss as price approaches breakeven. If price breaks down, it will also provide a nice cap to sell from. In the short term seeing more resistance to a drop than to a rise in price as there are areas of demand below where it's at now on the M1/M5 that should buoy the price.

Does anyone here know WHY COPPER has a relationship with the cable??? Thank you

I have gbj target 139.900 and gu 1.2608 you don't wat to break that or. We could. See 21700 area

Morning anybody know why the jump up ???

I was and am targeting gbj 139.980 and it was pips away

yes copper. Now why? Copper and gbpusd defo correlated but why is my question??

Have to watch seller jump on it .

We are still in the range ... with out any impulse it is most likely we continue for the next days like this

Not sure it will continue...

Getting a little bored of this stable weather.

Feel like doing a rain dance to make it drop a bit...

Would consider an up move as more of a viable option looking at the pattern on the 4 hour gmt.

Here is my 4 hour chart