US news at 15-00 BST; nothing at 13-30.

Cable Update (GBPUSD)

Bar 1 is an upthrust which shows evidence of weakness but the background is a strong uptrend and the next bar is also up. Bar 2 is an up bar closing off the high on climactic volume which might be a danger sign for going long because it could ...

vsa with Malcolm

Nothing to do with VSA, but I've got Magix's template on a 15 minute EU chart. It's got more arrows in it than John Wayne's wagon. The problem is there's hardly two consecutive ones in the same direction.

vsa with Malcolm

It's a public holiday in the US and Canada. It does seem to have an inhibiting effect on vols even in the European session.

vsa with Malcolm

Move up got hammerered straight back down.

vsa with Malcolm

5128 was previous resistance on 4hr. Might act as support. Have to wait and see.

vsa with Malcolm

Possible stopping volume on GU.

vsa with Malcolm

You're very likely right. Logic would dictate we're likely to see at least a retrace of the move up on the euro. I was just making the point that at the moment there isn't any short term direction.

vsa with Malcolm

There's no clear direction on EJ either for that matter. It's trending slightly up if anything.

vsa with Malcolm

That chart is EJ, not EU for a start. If you are looking at EU, it's been trading in a narrow range for about five hours with no clear sign of which way it's likely to break that I can see.

vsa with Malcolm

It doesn't affect the point you're making, but I think you may have misread price. EJ is at 110-odd not above 112.

vsa with Malcolm

Shouldn't the bar marked ND for No Demand be NS for No Supply? Or have I misunderstood? Very helpful analysis in any event. Thanks for that.

vsa with Malcolm

You would expect the volume to drop off at this time of day so I'm not sure how much you could read into that. It's certainly not finding any buyers at the 2290/2300 level but it's getting bought on dips and so far it's been making higher lows each ...

vsa with Malcolm