Price in dancing around yesterday's low. Perhaps the support and resistance bulls will be taken by this? I'm waiting for a drop below 1.2027 and then the fun begins.

Cable Update (GBPUSD)

I would just be a bit careful with a break of 1.2020 Depending on how it's done there's trapped volume down there which suggests to me that the bulls may get back in the game. Could be completely wrong... but we'll see what happens.

Cable Update (GBPUSD)

I'm going to pull up stumps here and cash out. Time for sleep. But given that red news is some time away, price has stuck itself here and isn't budging.... It it hangs up here and goes sideways for a while, a tap back under 1.2047 during news is ...

Cable Update (GBPUSD)

The more I look at this, 2050 is not going to hold. It will go lower. Just how far low is the question.

Cable Update (GBPUSD)

If it does, then we can expect a tap back into volume for a buy trade out of here.

Cable Update (GBPUSD)

Here's where the real battle will be. To determine if the volume is going to stay trapped under 1.2050 or not. So far, it's not looking good for it's survival

Cable Update (GBPUSD)

Hasn't gone anywhere this session. Guess it's going to be fireworks in the next one. Sigh... Looks like another game of pendings....

Cable Update (GBPUSD)

The other possibility today is that we don’t get anywhere in London, and red news decides to smack the high again come us session. That would suck, but the resulting hit would almost definitely cause a dump.

Cable Update (GBPUSD)

Still waiting for a drop here. Market is trying to paint a buy entry for the dumb money.

Cable Update (GBPUSD)

It really depends where they are in the cycle, but yeah, Fridays and end of month likes to pull back often. I don't know if we're going to parity, but I've seen huge pullbacks in a downtrend act like slingshots to break further down. My target is ...

Cable Update (GBPUSD)

There was already a massive rejection off the top side with involved a stop hunt of yesterday's high. London is done already. Going to plop down.

Cable Update (GBPUSD)

Very likely that price will come back, but not until we find a floor somewhere down here. Not exactly sure where it is, but the US session should provide a clue. 1.2050 looks doable at least.

Cable Update (GBPUSD)

If this is going to drop,it should run the entire Euro session, and later there's US red news. If it's positive US data then there's a perfect excuse to drop further

Cable Update (GBPUSD)

Looks like they didn't get exactly what they were looking for out of the US session, so it's cracked another high. Let's hope the drop is a nice one.

Cable Update (GBPUSD)

So I was basically right yesterday, well sort of.We hit 1.2111 as expected and bounced off. What I got wrong was that we entered a new phase of the cycle before going up there, and in this phase there was no guarantee that it would pull back that ...

Cable Update (GBPUSD)

Expecting it to stall out at around 1.2085 and head back down, but it's bed time here. I don't care.

Cable Update (GBPUSD)

Not a time to buy yet is it? Nope, we're going down to find a new range. I was a bit suspect that it may pull up. and go sideways for a bit, but it will sooner or later, somewhere.

Cable Update (GBPUSD)

I see where I screwed up. I'm not going to bull this even though it looks like it wants to. I know what happened - basically same mistake I made last time but I didn't think it could happen further down in this trend.

Cable Update (GBPUSD)

Stops hit, but we'll see what transpires now.

Cable Update (GBPUSD)

Been in this long now for a while. With any luck we'll get to 1.211 by the US session open where we can unleash the bears.

Cable Update (GBPUSD)