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Cable

GBP - 1.35 Next area?! I'm actually very excited to share this chart! For months I've been loving the dollar weakness keeping a key eye, that's been the main dominance in the market at this moment of time - Forget Brexit..It's like long going divorce which none of them can agree on anything at this moment of time. I posted a video explaining we might reach 1.35 areas - we've come above a long term trend-line down - Keep in mind a VERY long trend-line going on for years. This was posted 2 months ago. Fundamentals to keep in mind we have FED speakers speaking this week, if we get further clarity how they are going to rise inflation which tools will they be implementing in, or if they don't it could drag the dollar either direction, which you should keep in mind major pairs, precious metals and real yields. Technical terms of GBP - We are in a tight range, keep in mind this is longer time frame. If we do extend further of the area we are in, we should be going back to the areas of 1.35 half areas. Which will reach my long term targets for GBP - 1.35, EUR - 1.20, AUD 0.74/0.75 . That's if we get further decline in dollar. (Keep in mind most majors had key trend-line long terms they've battled with). If you'd like further information regarding minor pair targets or any other instruments, please do message privately. However, if we do get key pull back for GBP keep an eye on the levels area of 1.32 if further decline, bulls will come into control. Key tip: The trend is your friend....Don't forget UK, We are on Bank holiday - I don't expect large movements for today and end of month flows. Trade safe and great week ahead to you all. (Just a trade idea, not a recommendation) Trade Journal.
by Trade_Journal
Cable, still waiting for the sellNothing change last week and it's making a small correction up there, we still wait for our sell setup, and some area to watch as shown on the chart. ☝️ Note: It has not broken the previous top yet and there's a small chance that it breaks it first before going down, please consider it. Happy Trading, Stay Green! ✌️ ➖➖➖➖➖➖➖➖➖➖➖➖➖ 💬 Please let me know your view about the idea 🔗 Check out the "Related ideas..." in the links below too ➖➖➖➖➖➖➖➖➖➖➖➖➖
Short
by Forexian
CABLE BEARISH CORRECTION MAY CAUSE PRICE TO FALL ON H4On August 2, we provided our long term view on GBPUSD. Zooming into H4, Cable is now on correction and the structure looks more bearish. Expecting price to fall briefly to 1.30216 next week Monday & if price is rejected between 1.29978 & 1.30216, then cable could start another rally to 1.3333 (as explained in our August 2nd post). However, a violation of 1.29978 & 1.30216 will see the currency pair testing weekly mean price around 1.27000 & 1.28000. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Long
by BullBearMkt
GBPUSD - Within the range!GBPUSD - Yesterday, I posted bear flag formation - we did get to one of the support levels I been looking at but that key pull back I mentioned was key! We are range bound between the areas of: Resistance 1: 1.31233 Resistance 2: 1.31794 Support 1: 1.30151 Support 2: 1.29831 Pattern: Triangle - Consolidating at this moment of time. If we were to go below these key support areas, a further pull back will continue further - However, above resistance area 1 i'd be bullish towards 2nd resistance area. Even within the ranges, there are key trading opportunities. Which you could just focus on the levels and take the trading opportunities within smaller time frames. Larger picture overall on the daily - We are within the range as most majors currently are - Keep an eye on that. Overall, seek whatever direction the momentum goes towards. Key tips: - Longer time frame, indicates shorter time frame movement. - Add alerts it will make it easier for any price movement that develops. ( Remember: Just an idea, not a recommendation! ) Trade Journal.
by Trade_Journal
GBPUSD - More downside? GBPUSD - What clean moves we have had. When it comes to trading and you don't understand what's going on go through higher time frames and concentrate on the levels and then go through more in depth technical approach the shorter the time frames you go into or having few bad runs - take a day or two off and come back refreshed. I've been selling this pair since 1.31200 areas. Now is a key area to be looking at - Why? Let me explain further...! Technical terms: We have a bear flag forming - it's having a pull back as this current time - But question yourself for me if this pull back goes extending further towards lower ends of 1.31010 areas. Could be a fake break out! I will be thinking perhaps bulls are back in control and will be looking at the price action to keep an eye on. However, if this pull back validates and we have further weakness bears are still in control under 1.30150 area. You could measure the bear flag which reach towards areas of: 1.29558. You could even put: EMA's, Fib Retracement, or Elliott wave. Either direction - With my analysis, I keep a non-bias approach. Keep in mind - The beautiful pull back we had in precious metals, 10 yr/5 yr T notes and DXY. Just a trade idea, not a recommendation. All the best, Trade Journal.
by Trade_Journal