Short — Short from 1.4711...its hit top of channel, think we will see a retrace now.

Cable Update (GBPUSD)

Holding Longs — Still holding onto longs also...hoping for a break out of this wedge on the topside. PA looking good, lets wait and see.

Cable Update (GBPUSD)

Careful — Careful with shorts...we're still in an uptrend. Theres strong resistance around 1.4360 but if it breaks she is gonna fly. This might just be a pull back to around 1.4300 before a retest of the 1.4360 level, but cant see it going ...

Cable Update (GBPUSD)

I agree Bottom of channel broken and I don't see any resistance now until weekly low of 1.4450 at least.

Cable Update (GBPUSD)

Target reached, 1.4540...75 pips. Could see a bounce off the bottom of the channel now at about 1.4525 for a long but will stay out of longs for now

Cable Update (GBPUSD)

Short — I'm short from 1.4615...think we are in a downward channel still, TP toward bottom of channel. Also, bounced off previous high today of 1.4634, so looks like a double top forming, which also leads me to believe we are heading south now.

Cable Update (GBPUSD)

Any ideas why??

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Slow day — This is too frustrating, no momentum or clear direction

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Wheres the bottom?? — Wow, you could swear the UK was the only one in trouble the way this is falling

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It does, thanks

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Thats good analysis

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Same here, crucial time now. If she closes below 4110 we could see a further drop otherwise she will go back up again...not sure how high or low though so I'm out for now.

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Thanks JammerJams, I agree! Is anyone else seeing the upward trendline on the 30min and 1hr charts or is it only me? Looks to be holding.

Cable Update (GBPUSD)

Yes If 30m candle closes below 1.4320 though we could go down IMHO but so far she is holding.

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Newbie — Hi everyone, I'm a newbie here but been following the posts her for a while. Just wanted to say to all keep up the good work. A place where traders share ideas and opinions is always a good thing. Been long since 1.4271, looking to TP ...

Cable Update (GBPUSD)