Long

Would Cable take off?

By blamezak

Updated

I'm bullish on this asset, would GBPUSD take off?
Let's discuss

Trade active

Currently active in a Short Position.

Note

GBPUSD has been on a tear lately, but is it time to take a breather or keep chasing the rally? Here's a quick look at some potential trade ideas for the coming week:

Bullish Momentum:

- GBPUSD is currently trading above its 50 and 200-day moving averages, suggesting continued bullish momentum.

- GBPUSD chart showing 50 and 200day moving averages

Positive fundamentals:

- A weaker US dollar and improving risk sentiment could provide tailwinds for the pound.

Potential long entry:

- Look for a break above 1.2800 to confirm the uptrend and target 1.3000 or higher.

Key resistance levels:

- 1.2850 and 1.3000 could act as strong resistance zones.

Alternative strategy:

- Consider a long trade with a tight stop loss or wait for a pullback before entering.

Bonus:

- Keep an eye on upcoming economic data releases, such as the US Core PCE and Non-Farm Payrolls, which could impact the USD and GBPUSD direction.
Feel free to share your own GBPUSD ideas and analysis in the comments below!

Disclaimer: This is not financial advice. Please consult with a qualified financial advisor before making any investment decisions. These are just ideas, not guarantees. Always do your own research and analysis before making any trading decisions. Manage your risk carefully and use stop-loss orders to protect your capital.

Note

IN LONG SCALP:

https ://s3.tradingview.com/snapshots/r/RgWveY05.png

Trade closed: target reached

Took Partials reaching +100 P, trailing the rest.

https: //s3.tradingview.com/snapshots/i/InQE58GE.png

Trade active

https ://s3.tradingview.com/snapshots/r/RtOSNO0x.png

Trade closed: target reached

+100 P Partials Closed, Trailing rest.

>> 1st Trade Smashed, 2nd Add on in play.

https: //s3.tradingview.com/snapshots/a/asB7By5B.png

Note

Closed 2nd Trade in +100 Points.

Note

Analysis.

https: //s3.tradingview.com/snapshots/x/XAWDsnke.png

Trade active

Another one LONG, let's see the play

https ://s3.tradingview.com/snapshots/c/CbMQayAF.png

Trade closed: target reached

+60P HIT TP , Reversed at my level. I'm Out.

I will wait for further confirmed trades, than gambling at this range.

https: //s3.tradingview.com/snapshots/o/OzRj3jqE.png

Note

If we dont have enough Bullish volume and close below .269 on HFT breaking .2669 it gonna drop till .2641/ .2596 ranges.

That's for rest of the Week.

CHART : s3.tradingview.com/snapshots/p/pX6qMe8I.png

blamezak

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Disclaimer

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