Ideas on Cable

GBP/USD bounced off from 1.2555 after forming a doji candlestick and a spinning top candlestick at that level on the four-hour time-frame. It’s currently testing the support at 1.2470 and a breakout below that level will probably lead to a further drop towards the previous low at 1.2375.

The GBP/USD pair did not make any unexpected moves this week. The pair continued to trade in the range 1.25 and 1.2370. CMP 1.2397.

The pair is stuck in a quite wide sideways consolidation between 1.2080 and 1.2700 and it’s currently moving to the upside again. The closest target is at 1.2550.

GBP/USD had a good week this week as price advanced to a high of 1.2575. Next week the pair might consolidate if there are no major news to stir the market.

GBP/USD moved sharply to the upside after the fundmentals yesterday and reached a new high at 1.2900. It’s currently consolidating sideways, but it’s possible the move to the upside is not over yet.

Good week for the Sterling. Maybe consolidation can be expected in the coming week and a slight correction to the downside before bulls attempt to go higher.

The pair stay within the range between 1.2750 to 1.2860. In order to further gains, Pound needs to break above 1.29 level.

Gbp/Usd is slowly building up some gains but still within the range, upside seems limited, 1.0900 act as psychological resistance level.

Cable continues to be trading within a narrow range in positive territroy , there is no clear directional strength, the consolidation would probably continue until Friday preliminary Q1 GDP release.

Finally, the pair confirmed a bullish break out of 1.2910/1.2900 zone after multi-week consolidation. On the upside, 1.2950 and follow by 1.30 psychological level might be in sight.

GBP/USD is having a very strong bullish rally as price advanced to a high of 1.2962. Bears might try to take it down this week.

The pair is showing small pull back, but risk remains on the upside. I’m expecting Gbp/Usd would consolidating further until break above 1.2965 and lead to next resistance zone at 1.3.

I agree. The retracement could continue back to 1.2890 - 1.2880, or even lower than that, but the trend remains bullish for now.

GBP/USD retraced back to 1.2860 and bounced off from that level after forming an inverted hammer candlestick on the one-hour time-frame. It is moving to the upside again and it will likely test the previous high at 1.2965.

GBP/USD continues it’s way to the upside. I’m expecting 3% this week!

Gbp/jpy 05/10


GBP/USD bounced off from 1.2988 after forming a shooting star candlestick at that level on the four-hour time-frame as well as a double top, also at that level. The pair is testing the support at 1.2850 and a breakout below that level will likely lead to a further move to the downside towards 1.2800.

Gbp/Usd bearish consolidation movement capped under 1.29 level, the pair needs clear breakout of 1.3000 level to confirm further gains, on the downside support zone are around 1.2830/20.

BoE certainly won’t make any steps towards easing cuz inflation speeds up at decent pace because of depreciation. The only matter of concern is weak figures on consumption, investments, and construction. Pay attention to housing market as purchases of durable goods is a good indication of consumer sentiment.
Remember that all recessions start from a change in consumer and business expectations (Keynes)
Last piece of data manufacturing and sales was too daunting, but hope next streak won’t reveal any weaknesses in the economy.

To recap, I would really try to enter long, but for now only wait-and-see.

GBP/USD did not make any interesting moves this week. Interesting to see how the next develops.