The Pound Sterling has continued to underperform against the US Dollar, following a series of key economic events. Initially, on Friday, the USD experienced a brief weakening after the release of the ADP Non-Farm Employment Change and Unemployment Claims, which pointed to weaker-than-expected economic signals. U.S. employment growth for August came in below...
HELLO TRADERS
Hope everyone is doing great
📌 A look at The CABLE Heading into the NY PM SESSION
* Still on a bearish Overflow on the 4H looking for a continuation with the bears on GU.
* We just put in a short term high which might possibly be inducement with that 4h -OB but we will see with price.
* sweep of the short term high would signal mitigation of...
GBPUSD seems to be bouncing off the major support area, will this be the continuation of the long trend or its just a retracement to pick up the pace for the bears?
HELLO TRADERS
Hope everyone is doing great
📌 A look at The CABLE from HTF - MULTI TIME-FRAME ANALYSIS
GBPUSD WEEKLY TF
* With a bullish run last week, looking for continuation towards ERL.
* With this weeks Bullish run open, an last weeks bullish run we could see continuation wuth the 🐮.
* The weekly & daily TF show we are still showing signs of a bullish...
$GBP - What shall we do now?
GBP - Since we hit below 1.14 - 1.10 it's really been a one way for this pair and it could continue...However, we have options!
1 Emergency rate hike
2 Intervention
3 IMF
4 Fiscal spending
5 Swap Lines
Now these are the options technically speaking we filled gap around 1.09 this morning, I expected 1.06 on table during open...
Cable (GBP/USD) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 1.2812 which is a pullback support.
Stop loss is at 1.2767 which is a level that lies underneath an overlap support and the 61.8% Fibonacci retracement level.
Take profit is at 1.2887 which is an overlap resistance that aligns with...
Cable (GBP/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 1.2871 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level.
Stop loss is at 1.2899 which is a level that sits above the 38.2% Fibonacci retracement level and an overlap resistance.
Take profit...
Long-term target based on the latest BoJ interest rate hike and signs of a positive outlook for Japan's economy. Technically the pair is scraping around .618 FIBO level which is 195ish - there's still some room to hit the level.
1st target = 170 (0.382 FIB)
2nd target = 160 (156-157 - resistance/support of the past price action).
Expect continued #DXY weakness and corresponding risk on moves across the board
The Pound is a good example that has already triggered a Bullish upside move.
Yet still has decent room to move on up.
#GOLD #BTC #STOCKS can continue ripping with the tailwinds of #Dollar softness.
GBPUSD H8
We have traded just shy of our 1.30 psychological price level. We are looking to see some selling pressure come into play from around this price level, in hope we trade south back down towards this 1.28500 price. A more major considered area of support.
From this zone, we would be looking to catch some long positions. A rejection of 1.30 would...
GBPUSD daily structure is weakling, a close below 1.26586 will most likely cause the pair to dip further...
N.B!
- GBPUSD price might not follow the drawn lines . Actual price movements may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#gbpusd
#cable
Cable is performing a pretty strange setup. It looks strongly bullish on higher timeframe, but looks ready to liquidate in both side on lower timeframe. I can see a good golden zone in the 1.271-1.273 range. This is a strong support zone and we have seen lot of liquidity in the previous days. I think price could drop in this zone to induce retails to short, and...
Cable (GBP/USD) is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 1.2691 which is a pullback support that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 1.2633 which is a level that lies underneath a pullback support.
Take profit is at 1.2811 which is a pullback resistance.
...
GBPUSD Analysis(15M TF)
BUY/SELL SCENARIOS:
🟢BUYS: Price comes down, test and respect the 15M OB at the 1.27152 level. A Bullish CHOCH is required in order for the BUY Set up to be A+.
🔴SELLS: Price Dumps Past the 1.27061 level. If this happens with a body candle close, Sells after a Break and Retest of the Failed 15 minute OB is possible to target lower prices.
Cable has seen some nice recovery at the end of 2023; move is looking impulsive so more gains can be seen after the corrective retracement which has unfolded down from March highs. So far, price came down with three waves but pair is making a nice turn-up in last few weeks, out of a downward channel, thus it appears that pair is back in bullish mode. In fact, UK...
Expecting a pullback to the +FVG, then a rally back to the highs.
From External Liquidity to Internal Liquidity.
Am I right or am I right?
Let me know in the comments.
Bias is Bullish.
Came very close to the DOL, and
barely missed the FVG. I expect
both will be tapped next week.
The IFVG, price trading through
the swing high, and the +FVG, are
multiple confluences that support
the idea that price will find support
at these levels and continue higher.
Expecting price to tap the +FVG
before heading higher.
Thank you for...
