GBPUSD Analysis.
Being contained by the previous high resistance at 1.4985 (Feb 9 high), GBPUSD pulls back and breaks below 1.4647 key support, suggesting that a short term cycle top has been formed at 1.4957 level on 4-hour chart. Deeper decline is expected to 1.4290 level in next several days. Key resistance is now at 1.4957, only rise above this level will signal resumption of the uptrend from 1.3654 (Mar 11 low).
Being contained by the previous high resistance at 1.4985 (Feb 9 high), GBPUSD pulls back and breaks below 1.4647 key support, suggesting that a short term cycle top has been formed at 1.4957 level on 4-hour chart. Deeper decline is expected to 1.4290 level in next several days. Key resistance is now at 1.4957, only rise above this level will signal resumption of the uptrend from 1.3654 (Mar 11 low).
Trader Rich
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On hourly point and figure charts, cable made a triple top breakout at 1.4766. The next target would be testing last week's swing high 1.4956.
GBPUSD Analysis.
GBPUSD breaks above 1.4778 resistance, suggesting that a short term cycle bottom has been formed at 1.4585 on 4-hour chart. Further rise could be seen to test 1.4957 resistance, a break above this level will signal the resumption of the medium term uptrend from 1.3654 (Mar 11 low), and then the next target would be at 1.5200 level.
GBPUSD breaks above 1.4778 resistance, suggesting that a short term cycle bottom has been formed at 1.4585 on 4-hour chart. Further rise could be seen to test 1.4957 resistance, a break above this level will signal the resumption of the medium term uptrend from 1.3654 (Mar 11 low), and then the next target would be at 1.5200 level.
Trader Rich
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Cable is heading NORTH
Cable broke a major resistance at 1.49 and had a double top breakout on daily point and figure charts - a very bullish sign. There is a nice upward channel formed by higher highs and higher lows on daily charts.
Cable broke a major resistance at 1.49 and had a double top breakout on daily point and figure charts - a very bullish sign. There is a nice upward channel formed by higher highs and higher lows on daily charts.
GBPUSD Analysis.
GBPUSD breaks above 1.4985 (Feb 9 high) resistance. Further rally could be seen to 1.5200 in a couple of days. Initial support is at the rising trend line on 4-hour chart and key support is located at 1.4821, as long as this level holds, we’d expect the short term uptrend from 1.4585 to continue.
GBPUSD breaks above 1.4985 (Feb 9 high) resistance. Further rally could be seen to 1.5200 in a couple of days. Initial support is at the rising trend line on 4-hour chart and key support is located at 1.4821, as long as this level holds, we’d expect the short term uptrend from 1.4585 to continue.
The Pound (GBP/USD) fell down 60 pips in the Sunday open, as the currency market was again obsessed by risk-aversion. Furthermore, the pair already broke under Friday’s low, but now is leading towards an older 4h support area. The GBP’s calendar is full with top-row release this week.
GBPUSD stays in a trading range between 1.4397 and 1.5066. As long as 1.5066 resistance holds, we'd expect downtrend to resume, and pullback to test 1.4110 support is in favor. However, above 1.5066 will indicate that the uptrend from 1.3654 is underway, and further rally could be seen to 1.5300-1.5400 area.
For long term analysis, GBPUSD might be forming a cycle top at 1.5066 level on weekly chart. Key support is at 1.4110, a break below this level will confirm the cycle top and then deeper decline could be seen to 1.2000 zone.
For long term analysis, GBPUSD might be forming a cycle top at 1.5066 level on weekly chart. Key support is at 1.4110, a break below this level will confirm the cycle top and then deeper decline could be seen to 1.2000 zone.
GBPUSD broke above 1.5066 previous high and reached as high as 1.5247 level. Further rise to test the upper border of the rising price channel on daily chart is expected next week, a clear break above the channel resistance will signal a sharp move towards 1.6000 or even higher. Near term support is at the lower border of the price channel now at 1.4600, as long as this level holds, the uptrend from 1.3654 will continue.
For long term analysis, GBPUSD is in consolidation of the long term downtrend from 2.1161 (2007 high). Rebound to 1.6000-1.6500 area to reach the next cycle top on weekly chart is expected.
For long term analysis, GBPUSD is in consolidation of the long term downtrend from 2.1161 (2007 high). Rebound to 1.6000-1.6500 area to reach the next cycle top on weekly chart is expected.
jon1971
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Dont know how far it will drop, but for now where in a uptrend
jon take a look at my other thread http://www.trade2win.com/boards/for...8-forex-demo-testing-system-6.html#post756874
jon1971
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Tell you what Moe, I'd dearly love to get in this and ride it back up to 2 dollars, just been looking at the long term 1hr chart going back to late March and I'm not so sure (based on the current trend line starting late April) that it will go sub 1.50 again. That said, my line has only been touched 3 times, 2 of which formed a "W" within the past 48hrs.
I will look at some more indicators to get further confirmation.
You should be aware that I usually trade stocks and have only been looking at currencies, specifically GBP/USD for about a week.
just started a new thread here http://www.trade2win.com/boards/forex-strategies-systems/60972-gbp-usd-trade-signals.html#post756898, my system is base on end of day data, open,high,low and close so i won't know for sure where it's going till monday close.
