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Cableshort

GBP/USD 4H SHORTGBP/USD May fall 100+ pips Insight - Price is maintaining the downwards trend line. Resistance at 1.2237, support at 1.1996 has broken the monthly upwards trend line and is now approaching the downward trend line that supports the monthly descending channel, which could indicate further downside. Intraday - 4H Trade: Sell Sell or Below 1.1996 Target TP: 1.1936 & 1.1670 Alternative scenario: Trade: Buy Buy or Above: 1.1996 Target TP: 1.2237 & 1.2386 Pivot and Support 1.1996
Short
by julez
GBPUSD Short to continue the trend down to 1.280GBPUSD is forming somewhat of a leisurely downtrend on the 4-hour chart, lower highs, and lower lows. An impulse move from 1.292 brought price down, which is now the resistance point to watch for on the retrace for a continued move lower. If that support breaks we will see 1.280. If the price moves past that we will expect 1.295 to hold resistance so the FX pair doesn't print a higher high. It becomes way more bearish if 1.292 holds resistance. This is based on price action and market structure. If long wicks form at this resistance then there will be a strong push to the downside.
Short
by TRADEPROAcademy
Wanna ride cable to the hell or fly to the sky?!!!Reading up all the last day fed reports expectations of future cuts in 2019 aren't much and not so dovish dot plot/statement from Fed Chair Powell is holding the cable from rising further today. Fed had a dovish cut but talking about the future outlook it sounded not so dovish (no further major rate cut may arise and depending on economic data changes and how chaotic it gets fed may play conservatively if need to ease mp further) and now the only reason we can expect cable to rise strongly again is if the BOE surprises with positive rhetoric today, then the bottom of that rising channel may hold to present traders with a short-term buying opportunity. Yep, you got it I'm talking about the bullish bias here! If you’re a bear on the pair, then the not so dovish future outlook of Fed statement scenarios mentioned above had already drawn in some relief rallying for the Greenback, and in this scenario if the market is able to break below the rising channel lower trendline, that’s likely a strong signal for bearish momentum and bear players can start jump in. And any dovish rhetoric or surprise rate cut scenario from the BOE later will more likely turn a break into a swing move lower that potentially returns Cable back to its longer-term downtrend. Cheers! Have a party with cable tonight :D
by jessi061
1
GBP weak figures Good morning, The 'Cable' RPI and Core CPI lower than prior but as expected! As seen on the 4 hour chart, a bearish engulfing candle is currently being set up and would like engage in some plotted risk trading. A short @ 1.2403 position is taken, with a stop loss @ 1.2470 and a take profit @1.2280 - This take profit is conditional, meaning that if the dollar does not get a wind change in the next Fed meeting, we should be clearing out and heading towards the 2 year lows area of 1.2300 - 1.2200 zone. Good luck
Short
by Nixxflixx
hollow diamond to hit 1.2395 when price will break 1.2677the currency drew a first hollow diamonds the week on past and concretized its break up to 1.2508 last week before picking up again with the news on Fed rates. this week she drew the same hollow diamonds. So if you know this figure described in the encyclopedia of graphical configurations by Thomas Bullkowski. When I calculate the price target just at break below 1.2677I just that see the price going to [ b]1.2395 levelaccording to my experience
Short
by SterlingAir