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It could go lower but 1.3032 is where I'll be placing a buy order if looking good for more upside in early trading, continues lower then buy in around 1.3000, dependent on Euro news imho
As not very good with sell orders missed the oppotunity just now for 30 odd pips.
Hi All,
It's above R2 monhtly Pivot. Today (or tomorrow), it reaches the 1.29700 price and 1.2900 is a reasonable target for the beginning of next month.
Euro @ 1.1338 support too, if breaks Cable will be dragged down as well, if holds yes I can see it climbing back over 1.3050....
Maybe all negative news for Euro priced in now???
If breaks 1.1338 could see quite a fall for Euro.
Only God knows We need them EUR/GBP, EUR/USD and cable to synchronize so we can see a nice move
I don't think God(who ever that is) trades complex financial instruments, so doesn't know either.....LOL
Euro is getting closer and closer to 1.1338, be a nice short if it breaks, or could be a bear trap..
Option expiries today could be keeping a cap on price movement, notable one on GBP @ 1.3000
Call option they are going to want price to remain above 1.3000, put option below
I could not answer your questioning my post. Had to go out a moment. You were saying?? By the way, cannot see your post quoting mine
The pound shouldn’t stop until 1,32 level, only than we can expect a decent pullback, long term target is 1,4+ considering upcoming rates decrease in the USA
Cable Daily.
I note some exuberance on the bullish side, good luck lads.
-Price has traded above the 200 sma, for at least an ok bullish break.
Some caution to the upside
Price appears to be trading in a descending channel
Notable overhead resistance is on the oblique descending line
Another similar speed bump would seem present 1.3266xx
In most general terms, I would be cautious neither bull nor bear. (I have no position on cable).
Good luck, trade safe.
Wrong, all wrong!...kids, dont do this at home! And, even so, so simple is forex...trying to understand, i need a lot of practise, and im failing do it!
Back to analysis, it huge probability to stop and retrace here to 2850 or 2810...cheers traders, and kids(like me) hard trainning at home on strategy tester visual mode of MT4 before facing the high sea