Forex Signals

GBPUSD traded in a range between 1.5561 and 1.5779 for several days. One more fall to test 1.5423 support is still possible, a breakdown below this level could signal resumption of the downtrend from 1.6164. Key resistance is now located at 1.5779, above this level will confirm that the downtrend from 1.6164 had completed at [...]

GBPUSD failed to break above 1.5779 resistance, and pulled back from 1.5768 yesterday, suggesting that lengthier sideways movement in a range between 1.5423 and 1.5779 is underway. Deeper decline to 1.5500 area to reach next cycle bottom is expected. Key resistance remains at 1.5779, only break above this level could trigger another rise towards 1.6500.

Forex [...]

GBP/USD Forex Technical Analysis Strategy The GBP/USD has broken and closed below some critical support levels into last week, reaching lows of 1.5570 before stalling. This downside momentum is expected to continue next week as prices have failed at the 50% Fibonacci retracement of the daily downtrend and trendline support on the hourly charts has [...]

GBPUSD is facing 1.5891 support, as long as this level holds, the fall from 1.6164 is treated as consolidation of uptrend from 1.5272, and another rise to 1.6250-1.6300 area is still possible. However, a breakdown below 1.5891 will indicate that a cycle top has been formed at 1.6164 on 4-hour chart, then lengthier consolidation of [...]

Cross Currency Analysis – A look At The Price Action Today.
The market gave an interesting technical setup today which may have escaped the attention of some technical traders out there.  This brief post will look at the price action today and how cross currency correlations can be used to filter trades.
The three pairs below are [...]

GBPUSD traded in a range between 1.5631 and 1.5851 for several days. As long as 1.5631 support holds, the price action in the range could be treated as consolidation of uptrend from 1.5272, another rise to 1.6000 is still possible. On the other side, a breakdown below 1.5631 will indicate that lengthier correction of uptrend [...]

Being contained by 1.5327 support, GBPUSD rebounded from 1.5341, suggesting that a cycle bottom is being formed on 4-hour chart. Further rally would likely be seen in a couple of days, and target would be at 1.5800 zone. On the downside, another fall to re-test 1.5327 key support is still possible, a breakdown below this [...]

The British Pound (GBP) appears to have broken out of a nasty downtrend which had seen world markets tank as the US dollar strengthened.   Problems in the Euro zone with their debt crisis increased fears in the marketplace which went into risk aversion mode.  “Operation Twist” by the US Fed also helped increase short-term demand [...]

GBPUSD failed to break above the downtrend line on 4-hour chart, and continues its downward movement from 1.6453. Further fall could be expected in a couple of days, and next target would be at 1.5600 area. Key resistance is now at 1.5868, only break above this level could indicate that the fall from 1.6453 is [...]

GBPUSD rebounded from 1.6208, suggesting that a cycle bottom has been formed on 4-hour chart. Range trading between 1.6208 and 1.6460 is expected in a couple of days, as long as 1.6460 resistance holds, the rise from 1.6208 is treated as consolidation of downtrend from 1.6617, and one more fall towards 1.6000 is still possible [...]