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Cable

GBP/USD bulls eye a retest of 1.2800GBP/USD remains in a strong uptrend on the daily chart, although prices began retracing on June 16th. We're now looking for momentum to revert to its bullish trend. Whilst prices failed to hold above May high, they're now back above them having formed a 3-day bullish reversal pattern (Morning Star). A small bearish inside day formed due to the 3-day weekend in the US, and prices remain beneath a retracement line. But bulls could seek evidence of a swing low around support zones such as 1.2664/67 (weekly pivot point/May high) or the 1.2575 (volume node and lower 1-week implied volatility band). We're targeting the 1.800/50 area near cycle highs and the upper implied volatility band.
Long
by CityIndex
CABLE Surges as Resistance Gives Way - What's Next?We finally got the breakout of the resistance level @ 1.267 so what next ?? Personally, I'm exclusively focused on buying this pair, but with a calculated approach. We will be waiting for a pullback , as it presents an optimal entry point. On the chart, I've marked a potential buying scenario, where I anticipate a retracement towards the breakout area. Ideally, I'm looking for a drop towards the 1.263 region, which appears to be an attractive level for market liquidity. "We might experience this downward movement before Wednesday's CPI data, but only time will tell." In terms of target areas, my sights are set on the 1.305 region, which aligns with a significant weekly supply/sell zone. You'll notice this area marked by the red box on the chart. However, it's crucial to pay attention to the strong resistance level indicated by the prominent RED LINE within that box, positioned at 1.316. It's highly probable that price will be magnetically drawn to this level once we establish a position. Of course, managing risk is crucial. So, here's the plan: I'll be setting the stop loss below the last swing low on the daily charts. The specific level will depend on where we enter the trade, ensuring we have a good risk-to-reward ratio and peace of mind. To sum up the setup, we should be patiently waiting for a pullback to the breakout level, ideally dropping a little lower towards 1.263. Once there, I'll seek bullish confirmation on the lower timeframes, such as the 2-hour or 4-hour chart, before targeting the 1.316 resistance level. I will keep the post updated if this buying scenario plays out :) Hope you enjoyed the read happy trading!
Long
by TheFxAce
26
GBPUSD H4 | Bounce off 50% Fibo?GBPUSD is falling towards a key overlap support and could potentially reverse from here. We could see price bounce up to our take profit target. Entry: 1.26734 Why we like it: There is an overlap support that aligns with the 50.0% Fibonacci retracement level Stop Loss: 1.26062 Why we like it: There is a swing-low support that aligns with the 50.0% Fibonacci retracement level Take Profit: 1.27582 Why we like it: There is an overlap resistance that aligns with the 61.8% Fibonacci retracement level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
GBPUSD: 4HR Death Cross, LH and LL formation downtrendMaintaining my shorts on this pair with validation coming from the 50EMA (turquoise) crossing the 100EMA (white) which forms a death cross in the 4hr time frame. GBPUSD has failed to make a new higher high and so I'm expecting a push down to the recent low, we may break this immediately, or retrace back to the descending trendline that's now formed. We're making lower highs and lower lows which indicates a down-trend. Ultimately I'm expecting this pair to fall to below 1.22 in the coming weeks. Big FOMC release tomorrow, if the notes support Powell's recent hawkish stance then this will be bad for cable, then there is NFP on Friday which is a bit unknown. Fundamentally for GBP, recent data suggests inflation may be coming down, which suggests that the BoE may become less hawkish. Powell suggested a couple more hikes, which could mean Fed interest rates remain higher for longer. I'm also expecting a push up for DXY based on it's chart patterns. I'm staying short.
Short
by Finchcliffe
14
GBPUSD, H1 | Bearish reversal off key resistancePrice is testing a major overlap resistance and at the same time, seeing a bearish descending resistance line continue to weigh down on prices. A reversal from here could see prices drop all the way to the 1.2606 level - but take note that there's a risk level at 1.2659 which acts as our intermediate support. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM EU LTD (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Short
by FXCM
1
GBP/USD pulls back into key support clusterGBP/USD has pulled back from its highs and looks like it wants to build a base above the May 2022 high. An inverted hammer formed on the daily chart around the 10-day EMA and momentum has turned higher ahead of the European Open. The near-term bias remains bullish above Friday’s low and for an initial move to 1.2800 or around the 1.2850 highs. A break above which brings the 1.29 handle into focus, just below the upper 1-week implied volatility band.
Long
by CityIndex
GBPUSD H4 | Potential bullish bounce reversal?GBPUSD is close to a key overlap support and potentially reverse from here. We could see price bounce up to our take profit target. Entry: 1.26949 Why we like it: There is an overlap support Stop Loss: 1.26250 Why we like it: There is an overlap support that sits above the 50.0% Fibonacci projection level Take Profit: 1.28275 Why we like it: There is a recent swing-high resistance Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
GBPUSD H4 | Reversal from 38.2% Fibo support?GBPUSD could fall towards a key overlap support and potentially reverse from here. We could see price bounce up to our take profit target. Entry: 1.26800 Why we like it: There is an overlap support that sits above the 38.2% Fibonacci retracement level Stop Loss: 1.25968 Why we like it: There is an overlap support that sits under the 50.0% Fibonacci retracement level Take Profit: 1.28278 Why we like it: There is a recent swing-high Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
GBPUSD: Supply Zone Needs To Clear For CABLE To Rise HigherGBPUSD Currently is at a very crucial level trading near 1.26600. This level represents such significance on the weekly & monthly chart, that if broken properly it could see this pair rise higher and the probability of targeting upcoming resistance would highly likely increase. Current 1.26600 level represents an important supply zone that is still intact. In order to confirm that this zone gets broken properly, the monthly candle should also close above it. After this has happened, a long trade could be executed to target the upcoming supply zone located at 1.30600. The minimum risk to reward ratio should be 1:1 ideally and stop loss placed below swing low. Note: This is just an analysis/view and not a trade signal. Once if the criteria is met, trade details would be posted in a separate post. Lets see what happens. Cheers
Long
by FX618Analysis
1
GBPUSD H4 | Potential bearish reversal?GBPUSD could rise into a key resistance level and potentially reverse from here. We could see price move down to our take profit target. Entry: 1.26084 Why we like it: There is an overlap resistance that sits just above the 78.6% Fibonacci retracement level Stop Loss: 1.26809 Why we like it: There is a swing-high resistance on 10th May Take Profit: 1.25334 Why we like it: There is an overlap support Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
2
GBPUSD H4|Potential reversal from overhead resistance?GBPUSD is rising into an overlap resistance that sits just under the 78.6% Fibonacci retracement level. Price could hit the sell entry at 1.25769 and potentially reverse to drop lower. Take profit is at 1.24953 which is a recent swing-low support. Stop loss is at 1.26525 which is an overlap resistance. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
JUST FOLLOW THE SCRIPT - EURUSDWE ARE BEARISH. THE DXY IS BULLISH. Therefore on a bearish day we expect price to IMPULSE to a AREA of Liquidity right above our Morning Zone before the dump in confluence with the DXY being BULLISH. WE EXPECT A DUMP TO THE 3RD OR 4TH SD. NARRATIVE: MONDAY JUNE 12, 2023 2:58AM EST Never Over Leverage. Large Trading Accounts are grew over time through compounding. TRUST YOUR SET UP. HAVE A GREAT WEEK OF METICULOUSLY CALCULATING AND PRECISE TRADING!!!!!!!!!! I AM THE ALGORITHM NOW:)
Short
by Master-Jedi-Trader
1
GBPUSD H4| Resistance overhead?GBPUSD could approach a key resistance level and potentially reverse from here. We could see price move down to our take profit target. Entry: 1.24585 Why we like it: There is an overlap resistance Stop Loss: 1.25465 Why we like it: There is an overlap resistance that sits above the 61.8% Fibonacci retracement level Take Profit: 1.23495 Why we like it: There is an overlap support Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBPUSD H4|Falling to overlap supportGBPUSD is falling towards a key overlap support and could potentially reverse from this level. Price could hit our buy entry at 1.23766 and bounce up from here. Our stop loss will be at 1.23320 which is an overlap support. The take profit level will be at 1.24486 which is an overlap resistance. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
Cable Expected To Be Rejected Below 1.23948GBPUSD last week closed positive, however, the bearish undertone observed on the final trading day. This occurrence heightens the probability of the forthcoming trading week commencing on a downward trend. If the pair is rejected below 1.23948, the likelihood of a retest of the recently established high at 1.23948 increases. In the event that the GBPUSD pair is not subjected to buying pressure or successfully breaches the specified level accompanied by a strong bearish candlestick, the pair is expected to dip further. N.B! - GBPUSD price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #gbpusd #cable
by BullBearMkt
GBPUSD H4|Cable heading into resistance?GBPUSD is approaching a key resistance level and could potentially reverse from here. We could see price move down to our take profit target. Entry: 1.24681 Why we like it: There is an overlap resistance that sits just above the 38.2% Fibonacci retracement Stop Loss: 1.25323 Why we like it: There is an overlap resistance Take Profit: 1.23495 Why we like it: There is an overlap support Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets