Sold at resistance 1.3438 with 10 pips stop, collected some pips. Really easy trade. Will it rebound? Quite possibly. But this is a preview of what's to come. There is no deal at the moment, and there seems to be no easy path towards one. And maybe ...

Cable Update (GBPUSD)

Just for me to understand, why it's different? I have a lot of respect for your knowledge and chart reading skills, and your arguments make me more cautious. But I can't overlook fundamentals of Brexit, so my bias is still short.

Cable Update (GBPUSD)

Big money was buying before Brexit referendum. Did it help? The market convinced itself that a UK-EU deal is coming, and is positioning accordingly. If talks break down, these positions will be closed in a hurry creating a big sell pressure.

Cable Update (GBPUSD)

I guess you don't need my advise given your success, but seeing you want to continue taking longs, maybe it would be a good idea to use stops just for the next few weeks. Today, GU was sent 70 pips up by relatively insignificant Brexit news. If news ...

Cable Update (GBPUSD)

Congratulations to all the bulls here that caught the move! I guess both good trades today (short from 1.34 to 1.333 at least and long once 1.3315 held) were clear and high-probability. I only caught the first one, mainly because I have short ...

Cable Update (GBPUSD)

Ok, there is a "tunnel". Should help pound finally reach 1.35. But a deal it is not, and may still fall apart.

Cable Update (GBPUSD)

Ummm... I am just glad I took my 70 pips from a morning short. Wonder what it is, is there a deal?

Cable Update (GBPUSD)

Yes, pound and dollar battle for the wooden spoon here.

Cable Update (GBPUSD)

EU broke 1.2, Dow close to all-time highs. The risk on will help the bulls here, let's see if it is sustainable.

Cable Update (GBPUSD)

What I wanted to say is that to me, technicals look fairly balanced atm. We are of course still in an uptrend, but bulls are trying to break 1.34 for 7 days now, while pound lost a lot of ground against other currencies.

Cable Update (GBPUSD)

It's a glass half full/empty really. 1.33 does not break, and we go up with force each time we reach this level. 1.34 does not break, and we do down with force every time we reach this level. I really see no way to predict a winner based on ...

Cable Update (GBPUSD)

Was my expectation as well, but it does not look to be happening. EU/GU/AU reached 1.2/0.74/1.348 on September 1. And on November 30, they reached the same levels, with exception of GU, that could only manage 1.338. Now for GU to get into 1.35 area, ...

Cable Update (GBPUSD)

So far, the scenario is almost exactly the same as September 1, with (almost) exactly one quarter between the dates. But I am still cautious, it is just one day of dollar strength and it is the last day of the month. The signs look good for dollar ...

Cable Update (GBPUSD)

While being bearish on GU, I have some reservations coming from the fact that EU, AU, Dow and some others met their technical targets (in EU and AU cases, almost exactly matching the Sep 1 levels) quite precisely, but GU did not. We are just 100-150 ...

Cable Update (GBPUSD)

Probably this is the plan: let the talks fail now and do a deal late in December / early next year. All to show that Johnson is "strong". Will also work very well for those hedge funds that know the plan details and timing.

Cable Update (GBPUSD)

Looks likely. And as our friend pipfarm is saying, "this time it will break 1.34".

Cable Update (GBPUSD)

Down, then up. Pretty simple. Now at which price it stops going down, that's a million dollar question.

Cable Update (GBPUSD)

Intra-month timing would probably favour a different scenario: move up at the end of the month on possible dollar-negative flows, and then all the way down from December 1st. See what happened exactly one quarter ago. Having said that, Brexit may ...

Cable Update (GBPUSD)

Teasing the bears? Not the safest practice.

Cable Update (GBPUSD)

Agreed. One certainly cannot say bulls are not trying. But they may run out of ammo.

Cable Update (GBPUSD)