Cable
GU Intraday Possibilities. GBPUSD Cable IdeasHere are some decent RR possibilities. As always, price could just rip down from here and negate both these for today!
GBPUSD LongHi everyone!
GBPUSD been showing bullish sentiment last week, with retest of the 200 EMA & certain Trend Lines (1H, 4H and Daily) giving further buy entry opportunities.
I am looking on going long on gbpusd for a short term, taking in notice the upcoming events from the economic calendar.
Entry would be in this case on the retest of 1H/4H trend lines & S/R Levels!
Entry confirmation will follow of course after the market open, but betting on 61.8 Fib and S/R Levels.
Clear formation of Double Top/Inverse H&S pattern, after clearing the previous high and retesting the level would move the SL just bellow, to lock some pips.
Daily confirmation of further bullish bias.
GBPUSD long trade. this trade is going to be using a buy stop and we are going to try ride the cable to the highest high and try catch the start of a uptrend.
GBP/USD BUY OPPORTUNITY (4 HOURS):GU is bullish on monthly and quarterly. Cable to tap into reversal region and close around 61.8% fib and reverse into -27.00%.
GPBUSD trade planPrice has a Resistance ahead with 50 and 200SMA as support below. Bullish break to the upside is a buy signal to target 1.26.
Fundamentals remain strong as UK businesses started to reopen, restaurants and bars now open from July 4th.
Please support the idea and share your thoughts on GBPUSD!
Good Luck and Stay Healthy!
ridethepig | GBP Market Commentary 2020.07.02📌 The affinity between 'resistance' and 'overextension'
Light and summery flows continue with GBP in purely technical moves.
Very little to update on the fundamental here; a weak macro and political picture persists as activity remains incredibly low in the absence of confidence. There’s a lot of support stacked on the 0.90 🔑 pivot in EURGBP and 1.252x in GBPUSD. Reassessment only required with a weekly closing below/above.
=> Restraint in the technical sense can be conceived with the presence of resistance; but real total defence which reigns over the whole G10 board and which gives FX markets breathing difficulties, is only possible when risk is in the air. Parking in USD will remain attractive as long as the VIX remains elevated.
=> From a risk perspective, to what extent, we may now ask, does one need to give their stop breathing room? It is not enough to state the highs will hold as NFP can easily capture the stops and will be highly unpleasant to defend. This means we need to give some room up towards 1.258x as we will have the 1.25 quarters and halves to protect.
⚡️ US DATA PREVIEW: Primary Dealer Nonfarm Payroll estimates
- RBC 8.0mn - Natwest 7.2mn
- Citi 5.5mn - Morgan Stanley 5.285mn
- BNP Paribas 4.5mn - Goldman Sachs 4.25mn
- HSBC 4.0mn - Scotiabank 4.0mn
- TD 4.0mn - SocGen 3.9mn
- BMO 3.5mn - Wells Fargo 3.3mn
- Credit Suisse 3.0mn - JPMorgan 3.0mn
- BAML 2.8mn - Daiwa 2.5mn
- Deutsche 2.5mn - Mizuho 2.5mn
- Barclays 2.0mn - Jefferies 1.95mn
- Nomura 1.5mn - UBS 1.5mn
- Dealer Median: 3.4mn
With this in mind, 3m is the headline to track.... undershoots will be positive for USD via risk whereas inline or overshoots will trigger profit taking from the recent squeeze. The ST flows in a technical sense are no less imaginative than the MT and LT swing we traded earlier in the year.
As usual thanks for keeping the feedback coming 👍 or 👎
What I'm seeing on GBPUSD!Price has broken and retested my long term trend line as a support. Im in the trade already from my last post on cable GBPUSD. lets see
Cable 2 Jun 2020 Nice up move, but a bit in a hurry?Pls apply your own trading and mm rules in any case.
Cheers!
GBP/ AUD Here on the Pound Aussie we have the same pattern i drew last week *i think* . PA came to the HOP level of the pattern and quickly reversed! Right now we are having a retest of the PRZ. if the current candle closes with a decent size shadow then we might haven entry. Price hs been ranging for quite a while abd we are just waiting for the break!
GU Cable drop??GBP has been strong but we are racing up to a key level. Possible 1:5 set up looking good based on the levels drawn. Plenty of Confluence to take this trade
