Cable Update (GBPUSD)

Market at strong resistance zone at weekly (1.00 expansıon + 0.618 retracement)



Note: Those of you asking the fibonacci tool that I m using please check out => https://www.mql5.com/en/market/product/21835

Hedged up for 32 pips now sold at 37

long candle line break

4hr

That's the spirit Amigo

You know it's happening...

Good rally on the GBPUSD, the pair has kept its bullish trend since it started rising from the 1.2400 level and it is due for a longer correction, probably from the 1.3000 zone.

Had dig had to go with that one on a hedge but closed mins before close as at 5 pm the broker phoned me to tell me the margins are up over the weekend but I have 2 short trades underwater . The retrace is going to be the gap I think eu is 2 pips of its big number ?? Strange that one ?? Gbj I still have a short on that one to but it's a few hundered pounds down but I will hold it same as my Euro trade I must admit with not paying it my full attention I have let it run out of hand . But hey ho it's only money . Easy come easy go let's see Sunday

https://m.youtube.com/watch?v=BfIAKj3Gl1E

First hurdle taken, targets above

(1 hour chart)
Not one to blow my trumpet but I have been saying 2977 all week and where did it close... 2977.

Plus the EMA has made the HH preceded by the longest bar of the day.

I would now expect some sort of retracement, 25% would indicate a continuation upwards, whereas 50% would make things more ifffy again.

Ha, the next resistance is way up at 3977 but I would not be holding my breath for that one yet, price will put in many more before it reaches that high. Nearest support is at 2897.

(Daily chart)

We see price is climbing slowly allowing we scalpers to make lots of money in either direction. Those long term traders held out for a week for a gain of about 11 pips.

These latter few weeks all the action has been around the Yen crosses with terrific profits to be made.

The NFP didn't do much because it was positive thus bearish, the market was bullish and just ignored it.

Market now gu 1.2982 eu 90913

You should be OK with your shorts Elbert provided it doesn't break above the 2984.

With alternative measures, a short term rejection from 1.3 will prob bring 1.2933ish into view before more expected upside IMO

lol cheers we put international rescue in to take care of it . I have been there before and if I pull the trades it will be a loss but I have a lot of wins under my belt to cushion any blow . Regards E

GBP/USD continues it's way to the upside. I'm expecting 3% this week!

Looking ahead to the coming week, we have the BOE rate decision where the bank is expected to keep the rates on hold though the voting pattern and the summary would be noted with interest to see whether the bank has any intention of rising rates in the near future. On the other hand, we have the retail sales, PPI and CPI data from the US which should keep the GBPUSD volatile. We still believe that the pair is firmly in the grip of bulls and we believe that 1.30 would be broken soon (maybe as soon as Monday) and then we should be moving towards our medium term target of 1.34.

Technically :

1.30100 is the strong resistance for GBPUSD

If the Cable could break 1.30100 the next level is 1.31800.

Correction levels for intraday trading are : 1.29600 and 1.29200

All possible pullbacks are buy opportunity for me.

Which way will this head when Macron wins?

Imo

Macron will win and Cable will open with a Gap down today.