Anyone for longs on Cable?

FX:GBPUSD   British Pound / U.S. Dollar
207 0 3
Weekly Timeframe: The weekly chart shows that the GBP/USD             is now trading just above a weekly swap level seen at 1.4832. This level, in our opinion, is quite a significant one since if you look to the left; you’ll notice that this price area was in fact the origin of a year-long uptrend seen back in mid-2013.

Daily Timeframe: At this point in time, the buyers and sellers are seen battling for position within a daily demand area coming in at 1.4812-1.4949, which, as you can probably see, encapsulates the aforementioned weekly swap level.

4hr Timeframe: The latest coming in from the 4hr timeframe shows price rebounded nicely from 1.4900. This move consequently forced the market to spike above the recently broken 4hr Quasimodo support level at 1.4970, into the psychological barrier 1.5000, which, as you can see, was clearly enough to support a sell off down to 1.4850 where supportive pressure is currently being seen.

Taking all the points above into consideration, our team has reported that no shorts will take place until price convincingly closes below the aforementioned weekly swap level. Conversely, should cable close above the 1.4900 number sometime today, we’ll begin watching for price to retest this level as support, and drive north back up to 1.4970.

Current buy/sell orders:

• Buy orders: Flat (Predicative stop-loss orders are seen at: N/A).

• Sell orders: Flat (Predicative stop-loss orders are seen at: N/A).

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out