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Cable

CABLE RETEST B4 WAVE #3GBP/USD looks as if some weakness is creeping in to the chart. On the smaller timeframes we had a TEST of the resistance at 1.235 area during large session volumes, followed by a subsequent retest where it looks as if buyers are exhausted, as they have failed here to push above the resistance during multiple sessions. Looking for volumes to start pulling CABLE DOWN TO SUPPORT, around the 1.20 area which is VERY solid support structure. Any longs should be resumed in this area, assuming that the price action does play out. From a fundamental level we have Powell who just hiked the dollar 25 base points which should provide some short term support to the ROCKY DXY
Short
by NakedTrading4U
GBP/USD: KEY 1.2420 AND 1.2500 LEVELS CAN BE TESTED QUITE SOONAccording to analysts at ING, GBP/USD is currently fluctuating below the 1.2300 level after the Bank of England's recent decision to raise the policy rate by 25 basis points. The economists predict that the pair will soon test the key resistance levels of 1.2420 and 1.2500. Despite the rate hike, the Bank of England did not provide much guidance in their statement, and it seems that the Monetary Policy Committee (MPC) has left all options open. It was anticipated that the BoE would not offer any substantial guidance, leading to a brief impact on the Pound. As predicted, this has been the case. It is likely that the BoE will take a pause in May, despite the recent rise in inflation. The analysts believe that with around 30 basis points of tightening in the price, there is potential for a repricing lower to favor a slightly higher EUR/GBP. The BoE's decision does not seem to have much of an impact on Cable, and with the view for Dollar downside risks, the key resistance levels of 1.2420 and 1.2500 are expected to be tested in the near future.
Long
by FOREXN1
3
Cable, four-hourCable reached the peak of its recent range last week and formed a downward engulfing pattern before moving back to lows around $1.193. While a breakout is possible here depending on sentiment, with potential targets around round numbers like $1.19 or even $1.18 further ahead, the absence of any obvious driver ahead of the NFP might suggest that continuation of the range could be more favourable. Last week's American PMIs brought some volatility on this chart but did not shift the technical picture significantly except in the case of a notable surprise. Instead, 10 March is particularly important for cable because British GDP and the US job report both occur then.
by Exness_Official
CABLE BULLISH 3 DRIVEAfter some careful consideration of the price action I realized that CABLE was making a very RARE, DOUBLE HARMONIC pattern called the 3 drives. In this case it appears as though CABLE is creating a BULLISH THREE DRIVES DOWN harmonic pattern. Which would frame our sells at this point and give us a nice potential EXIT to any CABLE sells at point #3. From point #3 it is a very high likelihood that CABLE will experience some form of bullish impulse wave. The current trading plan is to ride the THIRD DRIVE TO THE BOTTOM, which is wave 3 of the second harmonic pattern that is contained WITHIN a 3 Drive pattern. After completion of wave 3, the size of the resulting impulse wave should give clues to the next step in CABLE
by NakedTrading4U
GBPUSD H4 - Short Signal from 1.24150GBPUSD H4 - Not entirely sure of cable at the moment, and I think and feel there are more attractive and clear cut setups, we discussed this on a coaching call last night, and compared this pair to XAUUSD and USDWTI, of which, we decided to signal XAUUSD shorts to the group, which unfolded nicely, whereas GBPUSD has yet to do so. Ultimately, shorts from 1.24150 wish would be attractive, with stops around the 1.24600 mark. Targets, previous support price of 1.23000.
Short
by Trade_Simple_FX