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Category Archives: GBP/USD Weekly Analysis

A look at the GBP/USD exchange rate with associated British pound sterling technical analysis posts.

GBPUSD Trend Line + Fib Confluence Provides Near Term Support

GBPUSD Trend Line + Fib Confluence Provides Near Term Support

GBPUSD Trend Line + Fib Confluence Provides Near Term Support Our update earlier today highlighted the trend line as can be seen on the GBPUSD hourly chart below.  Price has subsequently found support at this level. The trend line touch was also a move into the 23.6% Fibonacci level.  The technical confluence area proved to beContinue Reading

GBPUSD Update – 23rd July – Cable At Key Fib After Break Above Resistance

GBPUSD Update – 23rd July – Cable At Key Fib After Break Above Resistance

GBPUSD Update – 23rd July – Cable At Key Fib After Break Above Resistance The (fig 1) daily timeframe GBPUSD chart shows that cable is trading just under the 61.8% Fibonacci retrace level.  This comes after the strong recent upside price action culminated in a break above the 1.5260 – 1.5300 area PPZ (price pivot zone) yesterday.Continue Reading

GBPUSD Technical Update – 18th July – Cable Price Action Analysis

GBPUSD Technical Update – 18th July – Cable Price Action Analysis

GBPUSD Technical Update – 18th July – Cable Price Action Analysis The (fig 1) hour 4 GBPUSD chart shows that cable has been printing higher lows on this timeframe. The recent cable rally has seen resistance at the 1.5260 area and a look at the weekly chart shows why we have been calling this aContinue Reading

GBPUSD Technical Update – 16th July – Cable Update

GBPUSD Technical Update – 16th July – Cable Update

GBPUSD Technical Update – 16th July – Cable Price Action Analysis The $1.4811 low printed last week resulted in a false breakout for cable and the subsequent price action has seen a squeeze on the GBPUSD shorts. The pound/dollar pair is moving around the broken trend line and 38.2% Fibonacci retrace area during early week rangebound trading. This comes after price movedContinue Reading

GBPUSD Technical Update – Week Of 15th July – Cable Update

GBPUSD Technical Update – Week Of 15th July – Cable Update

GBPUSD Technical Update – Week Of 15th July – Cable Update As previously noted, the low of $1.4811 this past week resulted in a false break scenario and the subsequent price action is now squeezing the cable shorts. The GBPUSD pair has retraced around 38.2% of the last swing lower after a sharp reversal for the greenback followingContinue Reading

Elliot Wave Perspective – Key Technical Points – GBPUSD Currency Pair

Elliot Wave Perspective – Key Technical Points – GBPUSD Currency Pair

Elliot Wave Perspective – Key Technical Points – GBPUSD Currency Pair (Guest Post, Vladimir Ekimov, ElliotWaveStrat). The Elliott wave principle is often used to forecast market trends.  We look to use this analysis in conjunction with lower term price action analysis in order to gain desired entries. From the weekly chart we see that… · Elliot Wave count hadContinue Reading

GBPUSD Technical Update – 10th July – Cable Update

GBPUSD Technical Update – 10th July – Cable Update

GBPUSD Technical Update – 10th July – Cable Update  The GBPUSD currency pair has seen a test of the key previous cable support level today – located around $1.4830. GBP has now dropped over 9% versus the dollar since the beginning of the year. The low of $1.4811 resulted in an initial intra-day rejection and price is nowContinue Reading