Charting the levels

The 1hr gbpusd chart below shows cable currently in a n hourly triangle...you can see where resistance became support at the yellow and orange circled areas and now inside the triangle we have 3 tests on the 5445/50 area (circled in red) and 2 tests on the 5305/10 area (circled in green.) There are other swings above this near term x3 tests resistance area, notably 5535/40 area the previous swing hi and below the 5174/91 area the previous swing hi/lo, but a break of either areas could see them acting as support (topside break) and resistance (downside break) on any re-test pullback._

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re postabove: price did indeed find support at the previous 1hr triple top shown in screenshot above, following an upside break and then a pullback from the 5490/00 area (previous hourly/4hr swing hi res.) rbs in this area saw a with trend follow thru to slightly higher highs, the entry caught on the lower sub 1hr t/f's...the 5490/00 area acting as resistance again on the 2nd test.

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gbpusd

The daily chart below shows the area of the current cable resistance...the previous swing lows on this daily chart (=potential sbr) co-existing with the 23.6% fib of the 8668-4557 swing down.

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level shown holds again in gbpusd ...could like yesterdays short (lived bounce) be a potential rbs area if tested at a pullbackfrom the topside.

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The potential support is the previous resistance turned rbs shown on 4hr chart, although this can be honed by dropping to 1hr chart. 4hr chart shown; (The previous swing Hi/Lo zone shown being the previous swing lo on the daily chart shown a few posts back.)

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nearer term potential support is probably as below:
(taking a bounce there as i type this)
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Price has taken a 70+ pip bounce at the top of the zone shown on the 4hr chart below, (post 45 above) Within this 4hr previous swing hi/lo zone is the area shown on the hourly chart below, another previous swing hi/lo zone that may act as nearer term support if tested in the 4hr zone.
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The potential support is the previous resistance turned rbs shown on 4hr chart, although this can be honed by dropping to 1hr chart. 4hr chart shown; (The previous swing Hi/Lo zone shown being the previous swing lo on the daily chart shown a few posts back.)

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Price saw an 85pip bounce from the prev 4hr sw hi/lo zone shown on posts above (and by the red line in screenshot below.)

Screenshot below shows the potential sbr zone on this 1hr chart, but not much of a downtrend on this t/f, though

Update 1449pm: Price took an 80 bounce down from the top of the potential sbr area shown in screenshot above. As mentioned above in text, not much of a trend to re-enter on that higher t/f so not surprised that no follow thru to new lows has not been seen, as I write this, but anything can happen.
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British Pound Futures (6B 12-08)

Half an hour until close of candle
 

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EUR/USD 1hourly

Confluence on this one earlier this morning:

1) Round number (1.29)

2) 50% Fib retracement

3) S/R pivot as well as bounce off rising MA

4) Pin bar !

Mikey.
 

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British Pound Dec08 again:

Pin combined with 2 failed probes through Level 2 Supply Line. (Just bounced off)

Sell stop placed at 1.4806

First problem area is the Level 2 Demand Line, a breakout through that could see a test of the swing low

(Now up to Page 70 on Making Money thread!)
 

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