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Cable

GBPUSD - Is it time to FADE?WEDNESDAY - Half way through the week! GBPUSD - I like the long side for GBPUSD for months. It's a great trade that has had great momentum, I stuck to my trade plan, being disciplined is key and built long positions along the way - I am now scaling out of my positions! On my FX weekly I posted out to various groups I am part of - It's FREE to subscribe. It's explaining the FX majors for the week ahead, if you're interested - Message privately. I stated GBP above 1.37 you'll get 1.38 coming into play as well as perhaps 1.40 areas...However, for those who have been trying to fade GBP for while, You may just get your chance...Let me explain further! Technical Aspects: Pattern: Channel - At resistance Fib Retracement - Fade Area Support: 1.37830, 1.37580, 1.37370 Resistance: 1.38250, 1.38550, 1.38600, 1.38860 Fundamental events: 1. US CPI 2. BOE Gov Bailey Speaks 3. Fed Chair Powell Speak How could you play this trade: - Following your own trade plan to add further confluence - You could wait for candle formation, candle close, bearish pattern or perhaps an indicator that is on your trade plan - Add orders at certain resistance zone areas Have a great day ahead, Trade Journal (Disclaimer: Just a trade idea, not a recommendation)
by Trade_Journal
12
Cable Explodes following BOEComments from the BOE meeting this morning 1. CPI inflation is expected to rise quite sharply towards the 2% target in the Spring. 2. Other indicators suggest that Labour market slack has remained higher than implied by the LFS rate. 3. CPI inflation is projected to be close to 2% over the second and third years of the forecast period. 4. A further increase in unemployment is projected over the next few quarters. 5. The average weekly earnings growth has been notably stronger than expected in the November report. 6. See UK GDP +5% in 2021 (Nov. projection: +7.25%). 7. BoE sees UK GDP +7.25% in 2022 (Nov. projection: +6.25%). ------------------------- Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
Long
by Michael_Harding
GBPUSD - Things could take a turn...!!Happy Tuesday...Here's a free Cable trade idea...! I got asked why do I give my trade ideas for free? It's my passion I live and breathe the markets, I know there's so many scammers out there and capital isn't what I am greedy for ever - but giving the community a guidance to help build confidence for your trading journey is the best gift I could give anyone. This will always be free! GBP - You know for ages if you are an active follower of mine - I am bullish GBP you probably even know my target areas longer term perspective and 1.50 it could go to. However, for now I am really keeping an eye on this formation we have built.- Dollar squeeze could be coming soon....! Fundamentally: - BOE Monetary Policy Report (Thursday) - Negative Rates - I highly doubt its needed - Positive vaccine roll out Technical aspect: Wedge has been formed a break to either direction. Support: 1.37570, 1.36585, 1.35520, 1.35240 Resistance: 1.37100, 1.37600, 1.38070, 1.38940 Ways you could the trade GBP: - Wait for the break out and trade the pull back - Add orders either directions - Go to a smaller time frame to get into an early position if you're feeling confident - Follow your own trade plan for further confluence Key tip: Patience & Discipline. If you have any questions, message privately happy to help. All the best, Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
2
GBPUSD - PRICE BOUNCELooking at Cable, price has been bouncing between the Support and Resistance Zone for the last few days. We are also seeing price sat on the Support currently, we will wait for confirmation of a broken trend before entering. Key points to take from the analysis; 1. Price is sitting at a key support zone (1.3650) 2. Stochastic Indicator is showing the market is Oversold on the 1hr charts 3. We haven't see the 50 day Moving Avergage cross over the 100 day Moving Average. I believe we will see a continuation of the Ascending price, if the market breaks the Support, we will look to enter a Short Sell. My thoughts are a short term Long with a follow up Sell Off in next day or two.
Long
by Xpressforex
1
GBPUSD breakout imminent the week of 01 Feb 2021Recent price action on this pair has been choppy but grinding higher all the time. As my weekly chart (below) shows, the 1.3750 area has become a barrier that price has been unable to overcome since end Apr 2018. Back to the H4 view, let us examine price action for the last 10 days. We can see a series of higher lows, while the highs have remained consistently capped in the 1.3750 region. I see this PA as a squeeze in progress. I am expecting that the bears will weaken while the bulls will grab a better control of the market during the next few days. I am watching with a bullish bias, expecting price to impulsively break out to the upside sometimes in the coming week, while also keeping an eye on DXY. For trade location, an aggressive entry would be when breakout occurs, while a conservative approach would be to wait for a retest of the breakout line. The region around 1.4000 would a good choice for the initial target, while 1.4350 is certainly possible for the patient trader. If my analysis is correct, we could have a nice Multiple R trade either way. If you like my analysis please give it a “thumbs up” and follow me to get immediate notifications. As always, please use sound money and risk management in all your trades.
Long
by Trading_Vista
ridethepig | EURGBP Finding a Floor📌 ridethepig | EURGBP Finding a Floor After the preparatory manoeuvre, passive sellers are keeping a close eye on the 0.882x ABC target and already starting to cover. Sharp Buyers were aware of this and made the transition to attempt a base formation. With ECB / FED now cleared there is the customary inventiveness to continue with the rally. What we are trading here is the expectation of BOE cuts and calling bluff on ECB holding pattern. On the GBP side, we have been given a data from Johnson for March where kids will return back to school. Taking it with a pinch of salt once more and recommend resisting temptation to park in GBP. BOE has room to cut rates and with Brexit impact starting to enter into play, the flows will become clearer. Technically taking 0.893x will open the floodgates for a momentum gambit towards the highs, while to the downside 0.887x/0.882x area will continue to be the loading zone. Thanks as usual for keeping the feedback coming 👍 or 👎
Long
by ridethepig
10