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Cable

GBP/USD IdeaPrice seems testing 1.350 major level which also corresponds to our point A of broken trendline. On lower timeframes price is creating rejection candlesticks and yesterday also made a new HL indicating a change in market structure and a possible formation of trendline. I wait for a cross of moving averages (EMA 8 and EMA 14) and a formation of a new HL before entering a long trade. We also should consider a break of 1.350 key level due to brexit news. In this case our bias will be bearish aming point B of the broken trendline as TP. In the last idea we were short but a change of the market structure led us to close the trade. Like and subscribe for more!
by marcomihaicondrache
EURUSD- Potential Bullish continuation?!Technical Analysis - EURUSD has been in a uptrend since 25th may 2020 and has shown strong bullish momentum ever since. - There has been loads of confluences shown in the higher time frames which indicates that we should be looking for buy this pair. - 50 and 200 EMA added confluence to go long as it shows bullish trend on the higher timeframes. - On the 4 hour we can see an ascending triangle which is another confluence for me to buy and a good opportunity for me to enter on the reversal of the resistance turned support of the triangle. Fundamental Analysis -The fundamental news for the this week shows loads of high impact news on the US Dollar 10 high impact news releases for the week. -These impact news include news : retail sales, crude oil inventories, fed interest rate, FOMC press conference and many more... I would be wary trading around these news releases as impact news can have a major impact on the EURUSD pair such as price spikes, sudden change of trend. Sentimental Analysis - According to COT Data, there has been a large amount of orders as 62% of short positions have been placed on the US Dollar in the past week by commercials (banks). - This could show that there could be a potential reversal in prices to the downside to catch out the retail traders who are long on this pair. Please make sure to follow, like and comment your ideas/opinions on the EURUSD!
by LDForex_
2
GBPUSD Entering Key LONG TERM Zone - Multi-Timeframe AnalysisLike some other USD pairs, GBPUSD closed within a key zone on long term timeframes. *If this is helpful please LIKE or COMMENT so I know whether to keep sharing these charts* MONTHLY (see main chart) We have again entered a KEY pivot zone (yellow parallels) and approaching median line of major downtrend pitchfork (PF). We attempted to enter this zone in September but eventually rejected off the trendline (TL) from 2007 high to form a false break scenario. However October we failed to move lower and the November candle closed INSIDE the lower yellow parallel. If the December closes above this TL and above the yellow parallel we can look for a test of the Median line last tested in 2018 early 2021. NOTE: If we close the month BELOW these levels (have to be sub 1.30 figure) the MONTHLY outlook stays neutral. Weekly We are currently trading within an UPTREND PF joining 2016 low, 2018 high and 2020 low. We closed the week right at resistance on the median line basically on the 2018 OPEN. On a WEEKLY basis we have closed above the 2007 TL BUT as you can see its a bit messy so while it is a guide the pitchfork levels are KEY. We would need a WEEKLY CLOSE above the median line to signal a bullish breakout scenario BUT be aware just like the monthly PF the 14.4% parallel around the median line may act like a pivot zone. Upper target zone would be the yellow 23.6% retracement confluent with the MONTHLY median line in blue (1.37~) to the weekly 14.4% parallel confluent with 2009 high week close (HWC) at 1.3790. Lower target if we breakdown initially is 2020 Open at 1.3253, then the GAP at 1.3230, then the December low at 1.3134. Daily On top of the UPTREND PF shown in the weekly we have also been following another UPTREND PF on the Daily in GREEN. On Thursday we found resistance on the upper 25% line of GREEN PF and retraced back to the 2018 OPEN to close Friday. To remain bullish we need to stay ABOVE the 14.4% parallel. The BULLISH and BEARISH targets are the same as on the WEEKLY chart BUT if we push lower look for the Trendline we have tested 4 times since the May low that is confluent with the October high day close (HDC) at 1.3141. If we breakdown further it really is the 1.30 figure then 1.2850~ and 2019 OPEN at 1.2754. Intraday (4hr) You can see intraday we are also following an UPTREND PF. We did break below 2 weeks ago only to gap back inside and push higher (on the apparently positive BREXIT news). The only additional information here is you can see we closed the week sitting on top of the September high. Due to the volatility I've been trading off the GREEN PF primarily BUT if you are a scalper this near term structure may help you. Just remember we are BULLISH while inside the near term PF so I will be very careful getting overly bearish. On a break I'll look for some near term structure to guide me.
by Kei_Capital
1
GBPUSD. BEARS OR BULLS? HERE'S MY VIEW...It's no secret GBPUSD has been bullish lately and might say the bulls still have a room and I absolutely agree. But after my analysis I have come to a conclusion that we might see bears taking off next week and possible the week after too. in the next 2 weeks we might see a great retracement to the downside until price reaches around 1.3150, which is where I'm planning to take my long trade at. Right now I'll look for an opportunity to capitalize on this fall I'm seeing happening. 4 Hour timeframe will be a good one to spot that opportunity. One thing you must note is that I won't force trade just because it'll go down but I'll look for an opportunity that'll fit with my risk management criteria and align with my entry rules. Got a question? Share it below.
Short
by DYongs
ridethepig | Notes on GBPUSD📌 @ridethepig G10 FX Market Commentary 17.12.2020 ==> What we must track here is the buyers playing $1.360x and reaching overdone levels. The exchanging between UK and Europe is coming to an end, meaning the focus can shift towards the complete 'liberation' of the UK from which it was previously 'restricted'. So, in such cases, when a country loses market access the central bank gets bogged down with devaluation, and in these cases it means we should be able to employ offers with the same stratagem from when Johnson was initially elected. This sort of tendency to going down and roll back up the whole swing, is what I would call the cleansing of the board. It is a move which is aimed at whiping the ladder and opening up the dominating (and appropriate story) at the time which is the well being of the UK and woes of which will determine the actions. A very plausible move we played earlier in the month, and of course after the bounce up I am sure there is hesitancy to play it again. Now I am looking for signs of a top at $1.357x / $1.360x and the threat of a hammer down is greater than ever. GBP buyers have not played very economically and are hung by a thread of support. Sunak announcing the furlough package any minute, this expensive fiscal deal is far from any stretch of the imagination a conservative policy... The exploitation of the terrain up here, namely the squeeze, will force all soft hand retail to close and into a state of confusion. Stay alert, avoid the noise and play the leg down...we might get the waterfall for Christmas. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
4
ridethepig | GBP Market Commentary 09.12.2020📌 @ridethepig G10 FX Commentary GBPUSD This linkage between the retracement and the impulsive wave is classical, believed only in absolute directional moves; ....sellers of UK assets are a forced to be reckoned with and such a move in 80 cases out of 100 will be considered worth playing. I am dropping the figure from 1.350x to 1.345x because I expect sellers to aggressively defend the resistance move. The strength of the USD should in no way be underestimated. And suddenly we are reaching the nucleus of the retracement. Clarification of the manoeuvre.... The majority are thinking that a dinner for two tonight between Johnson and VDL will consist of progress, instead I think the can will be once again kicked and create some kind of diversion. At the same time, we are going to use technicals here to show the nucleus. I shall choose a typical ABC retracement as an example of the flows to link and fade. In this case 1.345x is being blocked from the previous orderblock which we traded live: The threat of another leg lower interrupting all lines of communication between GBP buyers on one hand and risk on the other. Therefore we should track the necessity of trapping out opponent on the highs. If you know the thoughts of your opponent, it is easy to assimilate the concept of a counter attack; a flank which will hammer the currency in a naturally speculative way. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
33
GBPUSD - PREDICTIONCould you find a more volatile pair right now between DXY and Brexit?! I favour longs on this retest of the daily support, especially with the minor bullish trend line to consider and the fact we have a perfectly lined up fib area. As always we prepare for buys and sells, so sells we have below the support and retesting the 61.8% fib and longer term descending channel which would give us a very tasty 1:7 which is very doable with Brexit deadline inching closer. We will send a signal out later this week should we take entry.
by RealistFX
GBPUSD - SELL OPPERTUNITYLooking at GBPUSD (Cable) - I think we will be in a Bearish market for the first part of the week, commencing 30th December 2020. Using Fibb Retracement from last weeks high/low points, we're currently sat in the 'Golden Zone'. A second confirmation candle has confirmed price has broken the Ascending Trend. We are targeting the 23.60% Fibb level which sits just above our previous Support Zone (1.32426). So why are we taking this trade? - Broken trend with a third confirmation candle on the 4 hour chart - Price currently in the Golden Zone - Relative Strength Index (RSI) is sat at 60 on the 1 Day chart. (Indicating the market is overbought) Target Pips: 62 Risk to Reward: 1.30 Remember to LIKE, COMMENT and FOLLOW for more trade ideas! @newgenforex on all social media platforms :-)
Short
by Xpressforex
GBPUSD - Liquidity TrapStill looking at a trap for Liquidity on Cable going into this week. There are some nice lows that I'm looking for failure around providing a high probability move to the upside (targeting the FTA - First Trouble Area). Why do I trade these liquidity traps? Reason 1 - Because when price breaks structure, the breakout traders have their pending orders (Sell/Buy Stops) activated to which the institutional players will trap by failing the break and pulling price back slightly to close above/below previous structure, invalidating the breakout traders ideas so they will either hit stop or pull out of their order due to fear or rules. Reason 2 - Because any retail traders who are currently still holding positions usually have their stops placed beyond structure/swing points creating a mass of orders. If you're not aware if you're short the market you have to buy back your position and if you're long the market you have to sell back your position. For both of these reasons this creates a high volume area of transactions in the market creating high liquidity. If you study what the big players do at these areas, watch your strike rate grow! If you want to learn more about how we trade at Xclusive Trading, either message us or check out our membership plan online: www.xclusivetrading-groupltd.com
by Kieran_Duff
Bearish divergence, possible break out of rising wedge on GBPUSDOn the 4h chart of Cable, a bearish divergence (in RSI, MACD, and Stochastic) is observed with no higher-highs being formed, signaling weakness in the current bull trend. A break out of the rising wedge and a subsequent break below the local support of 1.32990 could provide a short signal where it is expected to fall to at least the 4H support of 1.31760. However, I believe it could drop further to longer-term support at around 1.30700 and possibly even further to 1.28800. If price does not break the first support level at 1.32990, the trade is not taken.
Short
by aidan1b
1
$GBPUSD - Seeking Liquidity Short - 3:1 Scalp-ish TradeThe old me wants to buy it because it fits the trend-line/channel. Also, the double top doesn't help. I know that once we get near that double top it's going to break it. But everyone else is buying right now, thinking the same thing and that's why the smart money signals are telling me to sell soon. There is a breaker and an order block just above this consolidation area. I believe it will enter and exit this area pretty quickly and head south seeking more buyers and taking them out as they set their Stop Losses just below these liquidity areas like the previous daily lows. So I have 3 take profits marked out along the way in case it does hit another small Order Block and bounce, I'll take profit there, move my stop loss to where ever is appropriate and continue hoping that it's going to take out the sell-side liquidity. I believe it's currently building up sell orders, although it looks like a buy, that's what they bankers want you to think so that when you buy on this level they'll just turn around and take out your money by forcing the price to sell. So I'm going for the sell here and I'm already in position to do so. Happy Thanksgiving! and happy trading!
Short
by BodiesXWix
2
GBP Cable Strength Took small Long position in GBPUSD on back of continued weakness in USD and strong trend to upside on GBP. Took position on Nov 20 via LGBP ETF, and has been somewhat anaemic - will watch closely to see if breakdown in trend emerges in coming days. Will likely be dependent upon BREXIT talks in UK and continuing near term risks in US macro environment on foot of future Fed printing and evolution of CV-19 spread/shutdown and subsequent implications through winter.
Long
by Fraser_G
GBPUSD - Liquidity TrapLooking for a potential Liquidity Trap here to trap new sellers predicting a change in trend and squeeze out current long positions. I am looking from an institutional point of view, where liquidity is needed before a further move to the upside. This area of business (blue rectangle) interests me as we have nice prior lows where there will be a lot of stops beneath and we have the Daily ATR also. Looking for a failure around this area before longing to the FTA.
by Kieran_Duff