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Cable closed near the low but dip buyers noted

al_dcdemo Posted 10 Apr.  in #Trader's blog #GBP/USD #Support #Resistance #D1 Chart #Article 50 #U K Data #Gap Up
Cable closed near the low last week after taking out Article 50 low at 1.2375. However, the pair opened with a gap up today, which testifies of some demand at this level. Inflation and job reports will be closely watched this week and will help determine the direction of the next leg.
The pair is back below 50 and 100 DMA which makes 1.24 - 1.2425 the initial resistance. 1.25 - 1.2525 is the next one before March 27th high at 1.2615. On the downside, there's 1.2340 - 1.2360 (50.0% retracement of…
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Cable looks heavy

al_dcdemo Posted 5 Apr.  in #Trader's blog #GBP/USD #Support #Resistance #Services Pmi #Weak Data #D1 Chart #Article 50
Cable continues to trade around 1.25 after Article 50 was triggered last week. Manufacturing PMI and Construction PMI both came in weaker than expected. A solid Services PMI today may not discourage sellers for too long.
1.24 - 1.2425 (50 DMA, 100 DMA) is the immediate support before 1.2375 (last week's low). A move below that would target 1.23 - 1.2325. Area around 1.25 (yesterday's high) is the first stronger resistance.
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Cable to recover in the weeks ahead

al_dcdemo Posted 28 Mar. as Analysis on GBP/USD, Target: 1.2875, Date: 1st of May, 12:00 GMT  in #Technical analysis #GBP/USD #Daily Chart #Weekly Chart #Technical Tools #Net Short Positioning #Article 50 #Brexit Vote #Neutral Boe
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
The declining wedge that Cable carved out during the past three years was pierced on both sides in one of the most volatile weeks in the pair's hist…
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al_dcdemo 17 Apr.

UPDATE 6: Better than expected data from China, released overnight, hasn't had a great impact but it did contribute to a slightly better risk sentiment. Australian and New Zealand dollars remain in a near-term uptrend while yen put in at least a temporary top. A quiet European session is the most likely scenario with main financial centers closed for Easter Monday. Some more activity is possible in N.A. session but many participants will prefer not to involve until tomorrow. That does not rule out a surprise move though.

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al_dcdemo 18 Apr.

UPDATE 7: Some pairs traded as if there were no holiday yesterday. GBP/JPY buying was perhaps the most notable. After the break below 136.45 last week, the pair was bought up 137.15 as risk sentiment improved, leaving a reversal candle on the daily chart. That helped to buoy GBP/USD which rose 75 pips to above last week's high but was unable to breach pre-Article-50 high (1.2615) which is now reinforced by 200 DMA. 1.27 - 1.28 area is the next target if only 1.24 - 1.25 holds as a support.

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al_dcdemo 19 Apr.

UPDATE 8: U.K. PM May called a snap election yesterday and the pound rallied in response. Even though this means more uncertainty in the short term, it is expected to give the government a confidence vote and enough time to focus on Brexit negotiations and implementation. Cable posted a huge candle on the daily chart. Some consolidation or correction is possible in the days ahead. December high (1.2775) could be the first stronger support. If the rally continues, 1.30 is the next target.

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al_dcdemo 23 Apr.

UPDATE 9: U.S. dollar recorded a mixed last week. It rose against yen, Canadian dollar and Australian dollar but fell against euro, franc, sterling and New Zealand dollar. The moves didn't have a lot to do with the U.S. itself but happened against a backdrop of unwinding of the Trump trade. Focus will be on Europe in the week ahead with French election 1st round results to start with and then the ECB meeting on Thursday. Advance version of the U.S. GDP on Friday will be an important data point to watch while the BOJ is not likely to stray from its course.

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al_dcdemo 30 Apr.

UPDATE 10: Story from the last week continued this week. The dollar declined against European currencies and appreciated against yen and commodity currencies. Market-friendly result of the first round of the French election didn't impact this dynamic, although better risk sentiment usually means weaker euro and franc, and stronger Aussie and Kiwi. Looking ahead, FOMC meeting may not leave us any wiser next week. After weak U.S. Q1 GDP, NFP report for April seems more important. Of course, all eyes will be on French election polls to see whether Le Pen could gain any ground.

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Cable surges towards 1.25

al_dcdemo Updated 4 Nov.  in #Trader's blog #GBP/USD #Support #Resistance #D1 Chart #Boe Qir #Article 50
Cable rallied a cent after the U.K. high court ruled that the parliament has to vote on triggering Article 50. There was another half-cent jump on a less dovish than expected BOE QIR. The pair closed in the green for the fifth consecutive day.
The pair convincingly broke above the trendline, drawn off of June and September highs, and traded up to almost 1.25. Pullback into 1.24 was quickly bought and we were soon back to 1.2475. If 1.25 goes, 50 DMA is the next target.
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Elens94 4 Nov.

well done!

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al_dcdemo 4 Nov.

Thanks! :)

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Cable falls on renewed Brexit worries

al_dcdemo Updated 3 Oct.  in #Trader's blog #GBP/USD #Support #Resistance #D1 Chart #Brexit #Article 50
PM May announced yesterday that the U.K. will invoke article 50 by the end of March 2017. That will leave the country two years to negotiate terms of its exit from the E.U. with the rest of the union's members.
Cable opened about 50 pips lower from late Friday's levels. It extended the decline in the European morning, to below August low (~1.2865), before pulling back. July low (~1.2795) is the next target. 1.2950 - 1.30 seems like a good sell zone.
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Elens94 3 Oct.

good

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al_dcdemo 4 Oct.

Thanks :)

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