GBPUSD Technical Analysis – 16th May Update – Forex-FX-4X.com Cable has moved to a low of 1.5171 on Wednesday, covering 104% of the average daily range, before paring earlier losses and consolidating around the days open at 1.5223. The 1.5125 area 61.8% Fibonacci level is an initial focus, for the 16th May trading sessions, should…
GBPUSD Technical Analysis – May 1st – Pound/Dollar (Pound/Dollar Technical Update – Forex-FX-4X.com – 1/5/13) Cable has now rallied to the the 50% retrace of the last major swing lower from 1.6347 – 1.4829. This area also marks the upper channel-line as per the daily timeframe GBPUSD chart below. Price has also seen an extension of the…
GBPUSD Technical Update – Week Of April 29th – May 3rd – Pound/Dollar GBP/USD has seen an extended move to the upside in April after the monthly timeframe pinbar/hammer candle formed at key 1.5260 area support – as highlighted in our previous updates. This currency pair has seen a strong push higher during trading late last…
GBPUSD Technical Update – April 9th 2013 GBPUSD has found an element of initial support at the 1.5260 area after breaking above this key level late last week. We had highlighted this previous support area as potential resistance prior to the two bounces, which can be seen on the D1 chart below. The double top resistance…
GBPUSD 25th March – Technical Analysis – 25/3/13 GBPUSD is trading around the 1.5260 area. This is a key technical point of interest and it marks the previous support lows as can be seen on the weekly timeframe chart below. This area has potential to see an element of resistance as previous demand can sometimes…
GBPUSD Technical Analysis – H4, H1 Chart Update For 13th March GBPUSD covered 83% of the 60-day ADR today (March 12th) and an associated 84 pips. H1 timeframe shows a descending trend line held as intra-day resistance. Potential breakout scenario. H4 chart shows a bearish breakout met with demand and closed back within the recent…
GBPUSD Technical Analysis Update – Weekly, Daily H4 Chart Overview – WC 11th – 15th March 2013 GBPUSD Weekly Chart A look at the pound/dollar weekly analysis chart, reveals cable is trading above the longer term 78.6% Fibonacci retrace of 1.4228 – 1.6754 following a breakout under the ascending trend line, a constructive long term technical development. GBPUSD…
GBPUSD Technical Update – Weekly, Daily H1 Chart Overview GBPUSD Weekly Chart Starting with the GBPUSD weekly analysis chart, we note that cable is trading just above the 1.5000 round number after breaking below the following key technical areas: The longer term ascending trend line, stemming from Jan 2009 and the highlighted triangle consolidation pattern….
GBPUSD Technical Analysis Update – March 5th 2013 The GBPUSD currency pair found support around the 1.5000 handle psychological level during the European trading session today (March 4th). Pound/dollar has subsequently moved as high as 1.5116 and formed an inside day candle after bottoming out at 1.4998. Positive sentiment towards the greenback has gained momentum over recent weeks and…
GBPUSD Technical Analysis Update – Week Of March 4th 2013 The GBPUSD currency pair has seen a continuation of the recent bearish price action, with a move to a fresh 31-month low. The market took out the key 1.5000 handle during trading on Friday, but ultimately ended the day/week around 1.5030, as traders squared positions heading…
Sterling Lower After UK Manufacturing PMI Data – Breakout Under Recent Range Lows GBPUSD (pound/dollar) has seen a continuation of the prevailing bearish trend, after the UK Manufacturing PMI data released today revealed a return to contraction of the UK manufacturing sector in February. The Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) dropped to 47.9 from…
GBPUSD Update – Fibonacci Retrace Caps Recent Highs The GBPUSD currency pair is range trading between the 1.5070 prior support area and 1.5220 previous resistance zone. Pound dollar has only covered 77% of the ADR (average daily range) today and is trading in a consolidation phase after the extended downside move seen over recent weeks. The range highs coincide with the 61.8% Fibonacci retrace…
GBPUSD Technical Update – 25th February 2013 – Cable Closes Gap (Nick Simpson, Forex-FX-4X.com, 25/2/13) Cable gapped to the downside during the Asian open and printed a low around 1.5071, in thin illiquid trading conditions. GBPUSD dropped to a 31-month low, EURGBP a 16-month high. The European trading session has subsequently seen the pound/dollar pair close…
GBPUSD Technical Analysis – Week Of 25th February 2013 – FX Price Action Update Our last update highlighted the GBPUSD move into prior support and the 61.8% Fibonacci retrace area as highlighted below. Price subsequently printed a small pinbar at this area on Thursday, after an initial rejection from the fresh pound/dollar lows. The location of this pinbar…
GBPUSD Technical Analysis Update – 21st February 2013 – 61.8% Fibonacci Focus Cable has dropped to a two-year low as the post FOMC price action unfolds, this has now seen the GBPUSD pair drop under the January 2012 swing low, in the 1.5235 area, and as low as 1.5191. The US dollar has seen broad…
GBPUSD Technical Analysis – Week Of 18th February 2013 – FX Price Action Update Sterling moved to the lowest level versus the US dollar in over half a year on Friday, amid increasing signs that the UK economy is experiencing difficulty avoiding a triple-dip recession scenario. Cable has now seen a weekly basis close under…
GBPUSD Technical Analysis – 13th February 2013 – FX Price Action Update The GBPUSD pair moved to a 6-month low around 1.5570 during early trading on Tuesday, on softer than expected UK CPI data, but subsequently pared back earlier losses to end the day near the open. Cable had likewise moved under the long term ascending…
GBPUSD Technical Analysis Update – WC 11th February – 2013 – Triangle Consolidation Pattern Cable has seen a corrective move higher, after hitting the lowest level since August 2012 (1.5628) earlier in the week. The longer term chart below (fig 2) shows the pound/dollar pair is trading within a triangle consolidation pattern and has now…
GBPUSD Technical Analysis – FX Price Action Update – 4/2/13 Cable was trading around the 1.5865 area heading into Friday and looked set for a weekly basis gain. However, the price action as the week drew to a close had the GBPUSD pair covering around 189 pips – with the majority of this to the…
GBPUSD Bearish Continuation – Technical Update 28th January The bearish GBPUSD price action has carried into the new week, with a gap lower on Sunday and subsequent bearish continuation move today. Cable has dropped -0.45% on the daily basis and is now trading around the 61.8% Fibonacci retrace of the move higher from 1.5267 –…
