Seems like the GBP/USD is now going to the all-important 50% Fibonacci level (1.2220), which is also a support area (blue line). If that level does not hold watch out... url

Cable Update (GBPUSD)

You are welcome my friend. If you like to trade with round numbers then this book should greatly interest you, it's called The Quarters Theory: The Revolutionary New Foreign Currencies Trading Method, by Ilian Yotov. The whole trading system is ...

Cable Update (GBPUSD)

Yellen is still saying "Test, test, 1, 2, 1, 2, test..." in the microphone. Just kidding.

Cable Update (GBPUSD)

Round numbers (or psychological numbers) are also important support/resistance levels, especially if they end with a triple zero, I cannot agree more. Now let's see what Yellen's speech in San Francisco (due in 15-min) will do to the Dollar...

Cable Update (GBPUSD)

By the way Toranaga, of all the major currency pairs, the cable has the highest disrespect for trendlines, contrary to the well-behaved Yen for example. In fact, GBP/USD spends most of its time producing false breakouts around any type of trendline. ...

Cable Update (GBPUSD)

Really? I just earned 100 pips with the pullback from 1.24 to 1.23, a support area (price action-wise) but also an important Fibonacci level. Why would sound technical analysis techniques stop working suddenly??

Cable Update (GBPUSD)

Absolutely, that's the only to trade my friend, the rest is just cocktail conversation.

Cable Update (GBPUSD)

I don't know about the 1.275 take profit but one thing is for sure, the cable has broken its downtrend line on the smaller time frames (here 5-min on this chart): url

Cable Update (GBPUSD)

+100 pips, position has been closed at 1.23. Now GBP/USD should resume its post-May-speech uptrend, at least for a while.

Cable Update (GBPUSD)

British Pound traders looking for even more volatility and price action should perhaps concentrate on the GBP/CAD and the GBP/AUD tomorrow (January 18). With the very important Bank of Canada Rate Decision report due at 10 AM EST and the Australian ...

Cable Update (GBPUSD)

Oh yes, Forex will end one day, unfortunately, when the banksters create the New World Order and its One Currency. No more Dollar, Euro, Yen, Pound, or whatever, just one single currency. It is not a conspiracy theory anymore and the idea is gaining ...

Forex as a Future?

50 pips in the bag. 50 more pips and I will call it a day.

Cable Update (GBPUSD)

Yep, pullback time, Asian traders who woke up 300 pips richer are now cashing their chips...

Cable Update (GBPUSD)

Some profit-taking activity is going to take place that's for sure, at least in the short term...

Cable Update (GBPUSD)

The cable should now pullback to 1.2300 (at least), short at 1.24 (strong resistance area), 50 pip stop.

Cable Update (GBPUSD)

Yep, nice call Aleksbuk, congratulations! I also got a buy signal on the GBP/AUD around 3 AM (EST).

Cable Update (GBPUSD)

No way the GBP/USD is going to move to 1.24 in that extremely bearish context. Just my opinion.

Cable Update (GBPUSD)

Bought at 1.2085 and got my money (20 pip-loss) back. Now let's wait for a nice pullback and buy again...

Cable Update (GBPUSD)

One of the best way to profit from situations like this (when a big sudden move is expected soon) is to buy deep out-of-the money put AND call options on the GBP/USD. That way no matter what happens the trader will collect a truckload of pips ...

Cable Update (GBPUSD)

Only May knows the answer...

Cable Update (GBPUSD)