Yeah, 6550/6580 is the best zone to look for based on the 4-hr. There is also a wick that touched the 6510 area on the way down so that will be a minor hurdle, as well as 6500 on the way up. According to malcolm based on volumes, this was real ...

Cable Update (GBPUSD)

Our brokers close differently. I use MT4 with GMT +0, so my 4-h bar just closed at 4:00 PM EST (20:00 GMT) Doji with a higher close on the weekly pivot.

Cable Update (GBPUSD)

The 4-h close bullish so this may help bring it back up to levels that we can short at.

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Yeah .. I indicated where I would like to short since I am not currently.

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It's staring you right in the face lol

Cable Update (GBPUSD)

Didnt see that either but yes!

Cable Update (GBPUSD)

Good eye! .. Looks pretty symmetrical already.

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A chart to go along with my sell strategy.

Cable Update (GBPUSD)

I like the potential for a Head and Shoulders. Its projection gives you a safe target in the 6200's. Short orders at 6535/45/75 with a 6250 target.

Cable Update (GBPUSD)

Oh and the weekly pivot is at 6443. Just noticed.

Cable Update (GBPUSD)

Well Im out ... grabbed about 50 pips this morning. Leaving sell orders all throughout the 6500-6600 area for an adjusted 6300 target.

Cable Update (GBPUSD)

in regards to the news that may have sparked this, worse than expected GDP numbers for UK (bad) and some news on mortgage delinquencies in the states causeing risk aversion, fall in equities = good for USD. equals nice sell off in GBP/USD .. fear ...

Cable Update (GBPUSD)

pur your stop at break even. looks good. my target is 6540 but ive moved my stops up so i might be getting closed out soon. anyway im looking to sell 6545 and 6570, target 6250, 6000 and 5800

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6430 is the 38.2% from 2.12 to 1.35 so i just couldnt resist.

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TP = 6540 Sl = BE (am long from 6425)

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Yeah .. In any case the only place I am comfortable to short would be as per the chart I posted a few back. Baterrn 6550/6600 with a 5800 target.

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Im just scalping some quick ones but WB im still with you on that 5300 test, but we wont get too far ahead of ourselves. 5800 first

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I am already long actually!

Cable Update (GBPUSD)

USDCAD still has a ways to go to 1.18, at which time id favor GBP/USD around 5800 before another turn in sentiment.

Cable Update (GBPUSD)

That's because the majority buy right before or during a 'breakout' instead of waiting for a valid re-test of the breakout level as support/resistance

Cable Update (GBPUSD)