The Cable Pair - The British Island Pair

The GbpUsd Rate is not considered at an overbought length just yet - There appears to be an underestimated 1 minute chart downtrend still in play which may cause the rate to spiral into 1.2184 as a lower low outcome and Support Level for the Present Rate and Price Action - Is at 61% percent bar on the Current Daily Bar from high to low. Stoploss again remains at 1.2497.

Trade geschlossen: Ziel wurde erreicht:

Cable - GbpUsd Rate Looks set to spring higher from 1.2204 at Support Level just slightly short off the 1.2184 mark as advised - Although as i write Price appears to be pulling back a shade lower for now. - Expected Outcome is that the Rate will bounce from these Support Levels with Higher Targets nominated at 1.2890 which is the 38% percent bar on the monthly chart cycle high - i can only anticipate that my view will be respected by the market participant and my Live Contact Call obliged through the interbank system. Stoploss placement as always just below the Support Level at 1.2184 may need a slight adjustment whilst the trade progresses.

Kommentar:

GbpUsd Pair - Well as you can see from the markets the Price currently within A very tight Range at the moment but I do expect the Rate to utilize the advised Support Level at 1.2184 or move higher into the alternative level at 1.1.2890 & 1.2950 the new or shorter term outcome for Pair - Current support level at low stands at 1.2204

Kommentar:

All strategies referred to by my-self incorporate the Fibonacci Extension Methodology so allowing for plenty of time whilst the Indexes are trending is very essential and will play out key towards finding the right outcome to the Currency Rates at the nominated Fibonacci Level.
Lets Face It: We have arrived at Points A to B safely: Point C is where are followers come in. Between Point C this where I explain Secure Outcome and Take Profit Levels to our followers.

Kommentar:

Trade Closed as Target Reached at 1.2184