GBP/USD: Buy on dips, people are underestimating Cable

Carol Harmer Charmer Trading

GBP/USD

Give it its due...we have broken 1.2529 and now looks set to reach the Feb yearly high of 1.2570...I think Cable will come under pressure at this point...but I also think seriously that Cable is a buy on dips.. Yes.. we are overbought. But we can go sideways to ease that...what we really want to see s a pullback to 1.2445/40 area and that I think will encourage buyers back into the market.

People are underestimating Cable….we have had a seriously drop to 1.1980/50 and have double based at this area on the weekly charts...this cannot be ignored...even a minimum target would be 1.2706 which is the yearly high then 1.2775...but...the important point is that if we do break 1.2775 the measured target from the base formation is 1.36.

Now 1.3600 may seem really high...but memories are short.. in June of last year traders were saying and thinking how low was 1.36/1.35…this s because we lost from 1.50….so please...do not think Cable cannot make these higher levels...because it ca...and I think it will...Now not overnight...or even in a week...but if weakness is seen in Cable please believe me that there are longer term traders/hedge funds/institutions that are just ready and waiting to hoover up bargains… I am good...but I am not the only on seeing
this….This is where my banking experience comes in...and the investment side of banks are advised by people like me ( not me now) but people like me to wait and buy any sort of pullback.

1.2445/40 would be a good level to go in and buy and I know yo cannot act like a bank trader...but even if it breaks here we will still see buyers coming in and defending any sort of weakness. So please be prepared.

GBPUSD Current Trading Positions

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

EUR/USD consolidates around 1.0900, bullish bias remains ahead of key US data

The EUR/USD pair is seen consolidating its strong gains registered over the past two days and oscillating in a narrow band during the Asian session on Tuesday. Spot prices currently trade around the 1.1900 mark, just below an over one-week high touched the previous day.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold retreats below $5,050 on profit-taking ahead of US data

Gold price attracts some sellers in the Asian session on Tuesday, falling back below $5.050. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders look to the US Retail Sales data and Fedspeak due later in the day ahead of Wednesday's Nonfarm Payrolls release.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

The market is buying everything again but is it dancing on a borrowed floor

The market has a short memory and a fast trigger finger. Last week’s liquidation barely cooled before risk came roaring back, pushing the S&P toward record territory and reinstalling Big Tech as the engine of choice. This is not discovery. It is re exposure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.