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Cableshort

GBP / USD - Sell traps for Cable - SHORT Over the next few day's we have various reports coming out for this pair, and we have the Brexit negotiations going on which, will almost certainly have a negative impact on Sterling. Interestingly, both economies are performing well when viewed through the prism of reporting metrics but compared with the US$, Sterling is still going to be the underdog, but while the DXY is moving sideways gathering strength to break 94, the Pound may pull ahead for a short while, falling into our sell traps, unless of course Tues 5th US PMI's come up strong, in which case we could be going straight to the Profit zone. We're currently rising on the weekly trend line and we have two sell traps above to be a Bear on this pair. The first and I think primary sell zone is just above 1.35 and below the 200 days EMA and a previous Point of Control, there will be a great deal of resistance at this zone unless various metrics are sufficient to blast straight through to sell zone number two, between 1.36 - 1.37.
Short
by CBMotivation
18
GBP/USD Cable Short- Brexit Causes Sterling Tumble or does USD?GBP/USD has Fallen Nearly 300+ pips Since Rejecting 1.4000. THis Pair has now seen quite a divergence between the moving Averages as the new Fed Chair Powell Preaches hawkish overtones about Fed Hikes and Market Exhuberance. WIll The Cable Fall Again to Post Brexit Levels Yet Again? Looking at the chart techincally, we can see that the Weekly Ascneding Trendline is currently being tested as the pair consolidates around the weekly mid range level of 1.3750. A confirmed break below would indicate a potential short oppurtunity however lets not rule out any retracements as the pair has had a massive fall in the past few days! Related Tickers AMEX:FXB TVC:DXY FX_IDC:GBPUSD
Short
by ScholarGC
Short on Cable, after burning on a EURGBP earlierNo TA here. And I may very very wrong here, so not making a call to buy or sell. Market will always keep a successful market speculator humble. Just speculation on the price as with all my trading. Now that its in the money, stops at BE and will gear in if its runs further south next week. Retail will was predominantly Long at the break. The same pattern unfolds very often, after the Retail positioning gets cleaned out, those nervous move to the sidelines, and the angry try to Technically analyze why they were wrong at that point and why it should still be a long, So they often buy in again at 38,2 or 23.6 or at some trendline that is curve fitted to just co-incide with the 23.6, and it does....and then it accelerates down again cleaning them all out again, at this stage Retail start going short, but the move is finished, and as they become predominantly short the market moves NOrth and the cycle repeats. And thats one reason why TA is usually so un-actionable. My Humble Uneducated Opinion. (I dont know where you get education for trading though, aside from experience, so maybe I have a little education But this approach works, search for Mykl on MyFXBook, it doesnt produce those unbelievable results that the adverts promise you but it is the real deal and often the way the big money shifts the trends.
Short
by justforex
GBP/USD meets 100-hour SMAGBP/USD meets 100-hour SMA Previous trading session the Pound ended with a 104-pip fall against the Dollar. The support was provided by the 100-hour SMA. Most probably this indicator will continue to drive the cable up to the 55-hour SMA located at 1.3553. Even in case of release of disappointing British Services PMI data the pair is not expected to fall below the 1.3500-1.3580 marks as this support area is additionally secured by the 50% Fibonacci retracement level and the weekly PP. However, in larger perspective the buck is expected to take the lead once again. This assumption is supported by traders’ sentiment, which is predominantly bearish as well as allocation of pending orders which are mostly set to sell.
by UnknownUnicorn890690
GBPUSD SHORT TARGET 1.3060 (Continued)Following up on the previous post on the cable where I recommended a short with a final target of 1.2700, I have closed my position early, just before the pair retraced up. The week ended with the cable at 1.3190, bouncing off the 61.8 retracement level of the dip. Let's take a look at fundamentals. From UK's perspective, the EU has given Britain a 2-week deadline to clarify key commitments that it is willing to honour. While both parties claimed that talks were to accelerate after October, there has been no significant development till date. The current situation has certainly left most market participants in limbo, undecided on the consequences of Brexit. As mentioned previously, with EU being Britain’s largest trading partner (accounting for 43%), it is not difficult to comprehend the complications of Brexit. As a matter of fact, it is not a matter of good or bad, but rather how bad would it be? US wise, equities ended lower amid concerns of Republican's tax plan and possible delay of cut in company's taxes. The TVC:DXY has also ended the week lower. Currently, while I hold a neutral stance towards USD, I remain fundamentally pessimistic on the cable. The existing price action proved itself to be a good entry, and hopefully a profitable trade.
Short
by HouTianTan
GBPUSD- Potential D Leg on "Bullish Gartley"***Note: technically this is not a true gartley pattern since there is no definitive impulse leg. However, many of you find success trading the fibonacci zones within pattern structures.*** If GBPUSD can close today below the .886 fib retracement of the AB leg i think the pair would be a nice short for a few days. RSI is showing multiple signals for overbought conditions, as well as macd is starting to tighten up. - If price closes above the .886 fib retracement the idea is invalid, as well as the bullish gartley. D leg of the gartley should never extend past X and typically completes itself by fulfilling the 1.272 fib extension of the AB leg. In the coming days/weeks if the setup is still valid execution rules is to place a buy limit at 1.272 fib extension and stop is 10 pips or 1 ATR below X.
by Jroge107
Keep calm and sell GBPMacro fundamentals Uncertainty remains until GE on June 8. Even after GE, Brexit uncertainty remains. This is GBP negative in the medium term. Sentiment Speculative short positioning is NOT overextended, as was the case a few months ago. There is room for large speculators to build net short GBP positions. Market sentiment was very GBP positive until recently. Market has been caught off-guard. More room for Sterling downside. Technicals Broken key support levels as in chart. Next target 1.26 US dollar Dollar strength may resume from oversold territories heading into NFP. In any case, risk for further USD downside is diminished in the near term.
Short
by Exercise-Discipline