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Cable

GBPUSD Bullish and Bearish Technical Outlook➖⚡➖ KEY TAKEAWAYS ➖⚡➖ ✔️ The pair overall remains bullish on larger timeframes. ✔️ USD Continues to remain under pressure across the board. DXY near lowest level since Feb 2018 ✔️ Stimulus is continuing to be delayed with vaccine just around the corner. ✔️ Brexit deal unlikely with Michel Barnier, the bloc’s chief negotiator, is to go into quarantine just as time to reach a deal runs out. ➖⚡➖ TECHNICAL ANALYSIS ➖⚡➖ Bullish Outlook: The 4 year Brexit deal that began back in 2016 and put the pound into a tailspin might finally close out with no deal. This might actually add some strength to Cable hence the well supported Bullish rally. With timing running out, European officials discussed whether they could implement an agreement by Dec. 31 but leave the formal ratification process to next year. That could put the bloc’s executive arm on collision course with the European Parliament and member states anxious to protect their rights to approve any accord. Bearish Outlook: In terms of technicals, I believe if we're unable to break above the 1.333 area, this might add some downside pressure. However we would need to see some recovery with the greenback which might remain supported near the 2018 lows. Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
by Michael_Harding
GBPUSD 17 November The cable GU is a very violate market and is difficult for even institute traders. UK are releasing there data tomorrow and indicators are showing low figures already so fundamentals are there. I am bearish and it has a descending triangle on the 4hr chart high on many oscillators if it hit tp1 then we could go to tp2 this week this is just my speculation. Please like and follow for more updates! glad to those who kept with my last few trades great wins,
Short
by issafx1
GBPUSD PREDICTIONFor the first time in months I'm excited to trade GU this week! So on the daily, we have a bullish pennant whereas on the 4hr we have a Head and Shoulders. What does that mean? Simple, we don't take the sell, as that goes against our higher timeframe bias as we're still in an uptrend due to higher highs and lows. We wait for that neckline to be breached and for the magic to happen in the orange circle, taking buys all the way up. Magic? 3rd touch of trendline. Golden 61,8% Fib area Daily support. 3 great confluences for buys! Sells if the pennant is broken.
Long
by RealistFX
$GBPUSD - Daily Bias Long - Pull Back to 1.30500 (SMT)SMT = Smart Money Theory. A lot of this can be explained in my EU Idea since both move in concert together (usually) Just GBP happens to make bigger moves. So that's why this chart is on the hour chart and the EU is on the 15 min chart. GU is looking to break the next daily low. There's a far reach for the next daily low. Price will reach the GU daily order block which looks like a breaker on the one hour chart, before then moving higher. When moving high it will reach for the next daily highs which two are almost equal. And price loves to break equal highs. (GU DAILY CHART) Additionally it looks as if the dollar will rise clearing highs before, hitting a bearish order block before moving lower which the opposite will occur with GU. (DOLLAR CHART) I've tried to look at this from a selling perspective and the only thing that makes sense is the equal lows notated in the chart with the green trend line and that's around 1.29140. But I expected that to happen a long time ago and it still hasn't happened. And as I always state, I COULD BE COMPLETELY WRONG. What do I know, I'm just some guy that likes to post his ideas. Good Luck and Good Trading ;) FX:GBPUSD
Long
by BodiesXWix
Wedge Pattern on Cable - Its looking good Ray.I can see a very strong 4 hour bullish backbone which I have looked at for a while now, with the previous highs also creating a resistance level, I'm looking for a bullish breakout. As the markets open tonight I'm expecting to see a little bit of bearish movement to retest the supportive trend line but then if rejected, ideally by a bullish candle, Ill be looking for a buy for sure! Can expect slot of volatility this week as Biden finally being announced as president - Lets Get It
Long
by danielbtrading
$GBPUSD - Sell Bias Setup - Sell at Breaker Clear the LowThe picture is pretty self descriptive. The next daily bias seems to be heading toward the direction of selling. There are many daily lows stacked up ready to be broken as well as an equal low setup just prior to the previous daily lows. I think during the Asian session we'll see Cable range but create equal highs and lows that it will want to break to creating a breaker that will propel it to the current breaker. I'm seeing the same Bias in EURUSD as it seems to be struggling to create a higher high. The current swing high in GU was formed from a previous breaker but the low has yet to be cleared. To be honest it could just keep going lower without pulling back for the set-up. But if it does pull back to around 1.30995 I will be looking to sell with about a 40-50 pip stop loss, but it should gain over 100 pips to break the low so well worth the risk to reward. But I like to peel off profits in case it does not get to my target so I have planned 3 TP zones and depending on price action will depend on how much I move my stop loss and where. Will be giving updates as I continue to watch this setup unfold. Edit: The S/L Depicted in the graph may be too tight. I may loosen it back to 1.31500 depending how the market is reacting. I don't want to go above the prior swing high of 1.31757 because if it breaks that, it's more than likely going higher. There could also be a lower sell at 1.30787 in which it may not get higher as that is another bearish breaker. Just another thing to watch for in this setup.
Short
by BodiesXWix
Cable GBP/USD (Dangerous Times)View On GBP/USD (3 Nov 2020) It has found some support near 1.287 region and it may try to rise up again. I expect it may retest 1.306. Let's see, DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Long
by SonicDeejay
Cable, An uncertain / slow down move, then UPThe previous trade is in the play (in profit and stop loss moved to profit too), so far exactly as forecasted 👍 Watch the area around the green arrow, to see what kind of pattern will form there. Take it into consideration that, the turning back up, can happen earlier because it doesn't need to break the previous low. Happy Trading, Stay Green! ✌️ ➖➖➖➖➖➖➖➖➖➖➖➖➖ 💬 Please let me know your view about the idea 🔗 Check out the "Related ideas..." in the links below too Find us on social media😉 ➖➖➖➖➖➖➖➖➖➖➖➖➖
by Forexian
GBPUSD US ELECTIONS SELL LIMIT!!!!!!!!!the Pair traded in a range the last couple weeks, however the pattern shows that the upside momentum is still corrective for a downtrend continuation. 7-9-11 swings are related to A,B,C corrective phases in Elliott Wave Theory. tomorrow is the US ELECTIONS results so we will definitely expect high volatility trading, thats why i prefer to put pending orders ( sell limit ) orders near 1.3270 level to short the pair and probably target 1.2390 the monthly engulfing pattern target. Good luck
Short
by josephdahrieh
1