Posts Tagged ‘GBP/USD’
GBPUSD failed to break above the trend line resistance and dropped from 1.5488. Now the fall from 1.5488 could possibly be resumption of downtrend from 1.5997, another fall towards 1.5200 would more likely be seen, and a breakdown below 1.5326 will signal resumption of downtrend. Resistance remains at the falling trend line (now at 1.5495), [...]
GBPUSD remains in downtrend from 1.5997 and the fall extended to as low as 1.5326. Resistance is at 1.5597, as long as this level holds, downward move is expected to continue and next target would be at 1.5200 area. However, a break above 1.5597 will indicate that a cycle bottom has been formed on daily [...]
GBPUSD stays below a falling trend line on 4-hour chart and remains in downtrend from 1.5997. As long as the trend line resistance (Now at 1.5525) holds, another fall to 1.5200 is still possible. On the upside, the pair may be forming a cycle bottom at 1.5326, key resistance is at 1.5597, a break above [...]
GBPUSD may be forming a cycle bottom at 1.5326 level on 4-hour chart. Key resistance is at 1.5597, a break above this level will confirm the cycle bottom and indicate that the fall from 1.5997 has completed at 1.5326 already, then the following uptrend could bring price back 1.5700-1.5800 area. However, as long as the [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Tuesday (8/31/2010) has dropped to approach support in the 1.5350 price region. This occurs within the context of a relatively choppy descent from the 6-month high just under 1.6000 reached in early August. This descent has formed a clear downtrend resistance line. [...]
Price action on GBP/USD (a daily chart of which is shown) as of Wednesday (8/25/2010) has hesitated after approaching key 1.5350 region support on the heels of almost three weeks of bearish price action that broke down below a key uptrend support line and just established a new one-month low for the pair. For more [...]
GBPUSD stays in a trading range between 1.5535 and 1.5712. Another rise towards 1.5712 key resistance would more likely be seen later today, a break above this level will confirm that a cycle bottom has been formed at 1.5535 level on 4-hour chart, then another rise towards 1.5997 previous high could be seen. On the [...]
Being supported by the rising trend line from 1.4346 (Jun 8 low) to 1.5124, GBPUSD rebounded from 1.5535 level. Now the pair is forming a cycle bottom at 1.5535 level on 4-hour chart, key resistance is at 1.5712, a break above this level will confirm the cycle bottom, then another rise towards 1.5997 could be [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Thursday (8/12/2010) has continued this week’s precipitous drop from 1.6000 resistance and has approached key support in the 1.5550 price region once again, establishing close to a two-week low. For more technical analysis on this currency pair, please click [...]
Price action on GBP/USD (a 4-hour chart of which is shown) as of Monday (8/09/2010) has consolidated under key 1.60 psychological resistance, thus far unable to breakout out above the 6-month high established on Friday. The bullishness of the last several months has propelled this currency pair from the 1.4227 low [...]
