Broadening Top formation with a clear True Trend divergence. I anticipate a collapse of GU soon. I am short with a TP at the monthly pivot: 1.2514.

Cable Update (GBPUSD)

I have GU dropping to 1.2465 (S 138 Level) to test the Fib 61.8 of the last swing (1.2335 - 1.2687).

Cable Update (GBPUSD)

So for you the end of the Asian session, in order to determine the High and Low, is the Tokyo close (9 AM GMT) or the London open (8 AM GMT)?

Cable Update (GBPUSD)

Until what GMT time do you consider the session as Asian?

Cable Update (GBPUSD)

I am also short. I have a TP of 1.2310 for now (The Blue area). What is your TP?

Cable Update (GBPUSD)

The Monthly Pivot at 1.2598 has not been touched this month. It warrants the question whether it will be before the end of the month... ??? It is possible... I keep it in the back of my mind... Although fundamentally it would be surprising.

Cable Update (GBPUSD)

You only need one finger.

Cable Update (GBPUSD)

The Daily chart shows today´s test of the broken trendline from below. If it holds, It could start the way down to the 200 SMA (Blue) at around 2500.

Gold

In this H4 chart, we can see the bearish rising wedge has been respected, as well as the 200 SMA (Blue). This could be the top for gold. We may be headed to the 2500 plus area next. I am short at 2635. TP open.

Gold

Yes. The fundamentals of the UK economy are terrible compared to the US. That is the main reason I am looking for a lower GBPUSD. GDP growth is near 0% in the UK while US GDP is estimated at over 2% for 2025.

Cable Update (GBPUSD)

Even though I expect GU to ultimately drop to 1.24 or lower, remember that the Bank of England meets on Thursday and is expected to leave rates unchanged while the Fed is expected to cut on Wednesday. Bottom line: there may be another try higher to ...

Cable Update (GBPUSD)

GU H4 Head and Shoulders forming right shoulder. If neckline breaks, target 1.2411

Cable Update (GBPUSD)

I would say Man of the Century.

Cable Update (GBPUSD)

Meanwhile in H4, notice how price has not been able to break the descending 200 SMA (Blue). The rising wedge (White) has been broken and tested from underneath. This looks down to me. Probably to the 61.8% Fib at 1.2612. After that we shall see.

Cable Update (GBPUSD)

Hi Pat. The chart is not visible.

Price Action Trading (PAT) - Amplifying Market Insights

My favorite group of all time. Thanks for the video, Pat.

Cable Update (GBPUSD)

So... Are we allowed to sell now?

Cable Update (GBPUSD)