divergeance signals slowing momentum

nice area of support at 4600, although I would expect cables to stumble heavily through holiday period, can't rule out sudden probes upwards

can take some time out; or trade the range as forecast in my last entry; dips around 4600 to long and then 5300;

see daily chart pic attached, price trapped in end of wedge... also check JPY pairs for signs of basing at current levels

down trend still intact but watching 15M for signs of new upwards break

uptrend from 4556 still intact

pivot also still holding after this mornings up move at 5053

looking for new range to develop between 4556 and resistance starting at 5053-5500+
although still room for another drop, also looking for breakout of long-running down trend

TIC flows improving

dollar strength from revisions to last TIC figures, placing a negative pit mid September but improving since

looking to buy gbp, selling eur-gbp

got to 1.5053 but holding for now, support at 95/09 could be place to buy

simple advice

just found this article on developing a sound trading strategy/practice/method
http://blogs.fxstreet.com/advisor/2008/11/11/a-simple-advice-for-novice-traders/

charts

(4H and 15M)

breaktime this morning

continue with GBP shorts by re-entry if trend remains intact, but for me unclear this morning

gpb pb and usdcad short if turn at 2220

gbp short now at area above 6400

looking at USDCAD if 2220 moving resi holds

GBpUSD pulback

shorting around 6700 area...

USDCAD short trade

looking at short on USDCAD, and possible reversal play... still should be careful, you can see stop hunting up from 2700 area
UPDATE: CAN CLOSE OR LONG SIGNALS AT 1.1805 AREA

bear resume

covering at 6990, short to 6800 and 6500

watching for sudden reversal or muddy basing into 6500!!

gbp, bit churny

7240 is immediate pivot up/down! still waiting for direction

above that, topping at 390/430 would seal bearishness for medium-term, or bullish continuation on break 390/430
below next level is 7100

for me unclear

ready to short bearish continuation sooner than expected but expect messy basing above 6800

nearest support 7163 penetrated but holding

gbp buy or new top?

i look to buy on next small pb on 15M if trend is still up

604 now resistance, long from support

GBP short at 7604

weekly rep

Daily Pivots: (S1) 1.7157; (P) 1.7406; (R1) 1.7552;
next target of 61.8% retracement of 1.3680 to 2.1161 at 1.6538.
above 1.7398 will turn intraday outlook neutral first. But consolidation should be relatively brief as long as 1.7398 resistance holds and recent decline is still expected to resume sooner rather than later.

In the bigger picture, a long term top is in place at 2.1161 and down trend from there is still in progress. Next medium term target is 61.8% retracement of 1.3680 to 2.1161 at 1.6538. The impulsive nature and the scale of the fall from 2.1161 also provides strong evidence to the case of the start of a long term down trend.

Sustained break of 1.6538 will target 1.3681 (01 low). On the upside, above 1.8668 resistance is need to confirm that a medium term bottom is formed. Otherwise, outlook will remain bearish and further decline is still expected even in case of stronger than expected rebound.

looking for confirmation of bottom at 8515 area
>>> make buy trades on lows, such as 620 (fb) or 525 (oct06low) and wait and compare weeklies for basing pattern

rebound may go to 9500
9000 seals bearishness, for determining mid-term trough

upwards: euro weakness may allow 2.01 only before/if a full eurgbp reversal taking to 2.04

780 holds support/divides

downwards: looking at new base round 600 for long position

bounce from 600-500 or testing lower 337 if not then
up to 2.0 again then down lower, poss 1.92, before reversal allowed by euro

9883-2.0 - lower means h/s top in place, or continuation to 2.01/2.05