Author Topic: A Technical Look at GBP/USD  (Read 5578 times)

Lloyd

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A Technical Look at GBP/USD
« on: September 24, 2012, 07:24:00 PM »
British Pound is currently in long positive trend from bottom at 1.5390. After good data about Public Sector Net Borrowing price made sharp upside move. Expectations were that the value of indicator will be 13.2B but value shows at 12.4B. This is much better than data about July -1.9B.  As you can see on four-hour chart below price of the currency pair continues to move above 15 and 25 EMA which signals for continuing the trend. Today cable made new fresh high at 1.6307 after break of the previous top at 1.6274. If the price closes the week clear above 1.6300, this will bring further rise to 1.7043 in long term. Next target of the upside momentum in short term is set at 1.6450 first 1.6570 after that. On downside first support could be projected around 1.6160. In case of break next support would be around 1.6070. Crucial for whole bullish trend is 1.5910. Break and daily close below that level would change scenario in the currency pair for downside. In long term, price movements from 1.3503 are treated as consolidation pattern of the long term down trend from 2.1161. There isnít any change in this view. There are a lot of interpretations of the corrective movement from 1.3503 but before break of 1.5234 support more consolidation would continue.

Source: binaryoption

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A Technical Look at GBP/USD
« on: September 24, 2012, 07:24:00 PM »

Ajawed

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Re: A Technical Look at GBP/USD
« Reply #1 on: December 19, 2012, 07:28:49 PM »
December 19, 2012

EUR/USD on Tuesday made an intra‐day low of US$ 1.3155/EUR and made an intraday high of US$1.3236/EUR and settled the day 0.516% up at US$1.3227 /EUR on session close.

GBP/USD on Tuesday made an intra‐day low of US$1.6193/GBP and made an intraday high of US$1.6267/GBP and settled the day up by 0.290% at US$1.6248/GBP on session close.

USD/JPY on Tuesday an intra‐day low of JPY84.206/USD and made an intraday high of JPY 84.418/USD and settled the day 0.076% below at JPY0.076%/USD on session close.

http://www.ikonfinance.com/

Ajawed

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Re: A Technical Look at GBP/USD
« Reply #2 on: December 20, 2012, 07:01:36 PM »
December 20, 2012

USD/JPY on Tuesday an intra‐day low of JPY81.129/USD and made an intraday high of JPY 81.750/USD and settled the day 0.501% above at JPY81.669/USD on session close.
Technical in Focus:

In daily charts, JPY is sustaining below 200DMA (79.645), which is strong resistance on the daily chart. MACD has entered above zero line but histograms are also suggesting downward movement. The Stochastic Oscillator is in oversold territory now and signaling to sell as it has given negative crossover to confirm bearish stance.

Finally, the USD/JPY pair succeeded in clearing the Fibonacci resistance of 81.50 with a daily closing as seen on the provided figure. Taking out the upper line of the ascending channel should bring additional strength over intraday basis mainly targeting 76.4% Fib. at 82.50 boundaries; noting that RSI 14 will cause fluctuation during the northern trip.

http://www.ikonfinance.com/

Ajawed

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Re: A Technical Look at GBP/USD
« Reply #3 on: December 21, 2012, 07:03:01 PM »
December 21,2012

EUR/USD on Thursday made an intra‐day low of US$ 1.3202/EUR and made an intraday high of US$1.3293/EUR and settled the day 0.180% up at US$1.3236/EUR on session close.

GBP/USD on Thursday made an intra‐day low of US$1.6242/GBP and made an intraday high of US$1.6294/GBP and settled the day up by 0.129% at US$1.6270/GBP on session close.

USD/JPY on Thursday an intra‐day low of JPY83.847/USD and made an intraday high of JPY 84.440/USD and settled the day 0.235% above at JPY84.418/USD on session close.

http://www.ikonfinance.com/

Ajawed

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Re: A Technical Look at GBP/USD
« Reply #4 on: December 24, 2012, 07:00:48 PM »
December 24,2012

GBP/USD on Friday made an intra‐day low of US$1.6147/GBP and made an intraday high of US$1.6163/GBP and settled the day down by 0.627% at US$1.6147/GBP on session close.

Technical in Focus:
In daily charts, prices are sustaining above 200DMA (1.5890) is become good support level to buy. 14-D RSI is currently in approaching towards overbought region at 55 but still giving buy signal. MACD is now in negative and indicating decreasing histograms; sell stance. The Stochastic Oscillator is in overbought territory and gave for gave negative crossover to confirm bearish stance.


The GBPUSD pair reversed after touching the ceiling of the long term sideways range at 1.6300 level, the reversal was a sharp bearish engulfing candle, however, the selloff didn't violate 1.6150 short term support level, where we may see attempts to resume the bullishness from here; we still prefer to stay aside with the start of the week, awaiting more clues, either through breaking the top of the range, or settling back below 1.6150.

http://www.ikonfinance.com/


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