Today has been challenging, as GU is trading within yesterday's range of 147 pips, and remains above the 50% (good sign for bulls) of YR. It's difficult to identify a reliable pattern on the 15M TF.

Coreg's EW+HP+D/W Range

Let's see if GU gets today to the "killer zone," from 4 days ago @1.3467-1.3488. image Added: AB=CD pattern suggests a new high. The last zone that can prevent it from happening is between 1.3436 and 1.3443. Break below the current support zone ...

Coreg's EW+HP+D/W Range

EOD...

Coreg's EW+HP+D/W Range

The resistance zone was busted; shorting is not advisable after TLB (except scalp).

Coreg's EW+HP+D/W Range

After finding support at 1.3300, GU had a nice bump up. Now approaching resistance zone for the day @1.3396-1.3415

Coreg's EW+HP+D/W Range

Yes, but from the PA in the oval, we can anticipate only retracement to (a)-(b) leg b/c the swings are overlapping. Yes, it is. For one hour, the fight went on at 1.3477

Coreg's EW+HP+D/W Range

Waveskie, I hope you didn't buy GBP for your retirement account, anticipating a massive dollar drop.

Cable Update (GBPUSD)

birdland, I respectfully disagree with you. The best-case scenario for the bulls didn’t materialize. But it's not the end of the world. You had to anticipate the outcome when the bottom trendline didn’t hold. As a result, GBP/USD went toward the ...

Coreg's EW+HP+D/W Range

Weekly...I know, I know, crazy Coreg.

Coreg's EW+HP+D/W Range

Watch 1.3420.

Coreg's EW+HP+D/W Range

birdland, this is the most favorable pattern for GU unfolding right now.

Coreg's EW+HP+D/W Range

Birdland, this is why GU is currently in limbo. There hasn't been sufficient movement to motivate a larger group of traders to commit to buy or sell.

Coreg's EW+HP+D/W Range

I'm back.

Coreg's EW+HP+D/W Range

GU is toying with the WL @ 1.3512 level for now.

Coreg's EW+HP+D/W Range

Please note that last week, GU formed an inside bar on the weekly time frame. Both ends of the range have already been tested. It's important to monitor the weekly low at 1.3512 for a potential continuation lower to 1.3458. The weekly (ATR) for this ...

Coreg's EW+HP+D/W Range

Potential support zone for today (if GU gets there, all depends on the reaction to CPI data) is between 1.3489 and 1.3471. GU already hit the DRE zone.

Coreg's EW+HP+D/W Range

1.3583 is an important level on the daily TF. image Added. image

Coreg's EW+HP+D/W Range

I wouldn't rush into a long trade until I see at least a change of character (ChoCh) to the upside because so far, every demand zone has been breached.

Coreg's EW+HP+D/W Range

The market cooperated.

Coreg's EW+HP+D/W Range

PA on the GU formed a symmetrical triangle, so by the book, the breakout should be to the upside b/c prior move was up. But the market does not always behave by the book. It would be too easy to trade.

Coreg's EW+HP+D/W Range