Author Topic: Daily GBP/USD Analysis from ForexMart  (Read 3454 times)

Offline Andrea ForexMart

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Daily GBP/USD Analysis from ForexMart
« on: March 28, 2016, 07:14:02 PM »
Technical Analysis for GBP/USD: March 28, 2016

The British pound slightly recovered from last week’s trading as it hit a daily high at 1.4180, taking advantage of the dollar’s respite. However, the pound’s strength is expected to be short-lived as the uncertainty of the Brexit looms over the market.

A bearish outlook on the pound remains leading to the EU referendum in June. On the other end, a stronger dollar is anticipated in the following days as investors remain hopeful for a rate hike in the near future based on  Fed officials’ vague remarks.

The first support occurred at 1.4098 and 1.4028 subsequently. The first resistance was at 1.4149 and 1.4220 subsequently.

The MACD indicator is at a negative location. The price is falling.



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Daily GBP/USD Analysis from ForexMart
« on: March 28, 2016, 07:14:02 PM »

Offline Andrea ForexMart

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Technical Analysis for GBP/USD: March 30, 2016
« Reply #1 on: March 30, 2016, 04:02:21 PM »
The extensive demand for the dollar reinforced the pound/dollar pair. The Manufacturing PMI will be issued on Friday and so we propose to focus on it as well as we wait for Bank of England Chairman Mark Carney's performance on Thursday.

The price's first support occurs at 1.4320 and at 1.4240 subsequently. Meanwhile, the first resistance resides at 1.4400 and at 1.4480 subsequently.

A non-confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen and the Kijun-sen display an ascending movement  creating a "Golden Cross". The ascending motion will remain until the price is over the Cloud.

The MACD indicator is in a positive location. The price is increasing.



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Technical Analysis for GBP/USD: April 5, 2016
« Reply #2 on: April 05, 2016, 01:26:50 PM »
In the midst of the Construction Sector increase, the Gross Domestic Product of the UK in Q4 was re-assessed upwards. The business activity index occurs at 54.2 contrary to the reported 54.0 which is more than expected. The increase of the pair was finite due to fears about Brexit and the market could not disregard the probable demand on the oil market. The activity of the GBP/USD pair was merely influenced by the oil price.

The first support of price occurs at 1.4240 and at 1.4160 subsequently. The first resistance lies at 1.4320 and at 1.4400 subsequently.

The price is along the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen forms a descending movement and the Kijun-sen displays a horizontal motion creating a "Dead Cross".

The MACD indicator is in a neutral location. The price is revising.



Offline Andrea ForexMart

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Technical Analysis for GBP/USD: April 7, 2016
« Reply #3 on: April 07, 2016, 01:18:31 PM »
Initially, the main drivers for the pound/dollar pair firstly, is an escape from risks, second is decline in oil prices and lastly is the poor Service PMI in the country. In March the index increase to 53.7 from 52.7 when the market was expecting an increase to 54,0. Apparently, the descending movement was also in the Bonds Market which made the 10-year UK government bonds yield to diminish. The Sterling grew by the end of the trades.

The first support occurs at 1.4080 and at 1.4000 subsequently. The first resistance lies at 1.4160 and at 1.4240 subsequently.

A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen and the Kijun-sen form a descending movement. The descending movement will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is rectifying.



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Technical Analysis for GBP/USD: April 11, 2016
« Reply #4 on: April 11, 2016, 12:42:27 PM »
The UK investors were perturbed by the poor macroeconomic data. Because of the seasonal correction which came at 1.1%, The Manufacturing Production for February decreased wherein it was way farther than the reported 0.2%. Moreover, from 12.16 billion pounds in January to 11.96 billion pounds in February, the Britain Trade Balance Deficit lessened.

The first support occurs at 1.4080 and at 1.4000 subsequently. The first resistance lies at 1.4160 and at 1.4240 subsequently.

A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a descending movement and the Kijun-sen forms a horizontal motion. The descending movement will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is retrieving.



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Technical Analysis for GBP/USD: April 15, 2016
« Reply #5 on: April 15, 2016, 05:27:15 PM »
The repercussions of three days imposing increase of the pound/dollar was it has initiated rectification. The Bank of England has announced its minutes and the interest rate decision wherein the rate was kept at the same level. The unpredictability of the Brexit caused the currency to remain under pressure.

The first support occurs at 1.4080 and at 1.4000 subsequently. The first resistance resides at 1.4160 and at 1.4240 subsequently.

The price is in the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a horizontal movement and the Kijun-sen forms an ascending movement which creates a "Dead Cross".

The MACD indicator is in a neutral location. The price is retrieving.



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Technical Analysis for GBP/USD: April 20, 2016
« Reply #6 on: April 20, 2016, 02:15:29 PM »
The probability of a rate hike was lessened by the Bank of England which may cause the pound to stay unstable. The English regulator dwelt the risks for the country economy when Brexit takes place amidst decision-making regarding the interest rates last week. Mark Carney stated on Tuesday that the effect of Brexit would not be sustainable and it would cause a financing of the payment balance more pricey.

The first support occurs at 1.4320 and at 1.4240 subsequently. The first resistance stands at 1.4400 and at 1.4480 subsequently.

A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen displays an ascending movement and the Kijun-sen forms a  horizontal motion creating a "Golden Cross". The ascending movement will remain until the price is over the Cloud.

The MACD indicator is in a positive location. The price is growing.



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Technical Analysis for GBP/USD: April 21, 2016
« Reply #7 on: April 21, 2016, 02:55:20 PM »
The GBP/USD strengthened as the pair positively increased earlier despite oil prices gains and the attraction in risky assets. The Brexit rivals count has been decreased. Perhaps, there had been a positive impact on the British people the deterrents of government lately regarding the immense effect of the country exit from the European Union.

The first support occurs at 1.4320 and at 1.4240 subsequently. The first resistance resides at 1.4400 and at 1.4480 subsequently.

A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen displays an ascending motion and the Kijun-sen creates a horizontal movement. The ascending movement will remain until the price is over the Cloud.

The MACD indicator is in a positive location. The price is correcting.



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Technical Analysis for GBP/USD: April 28, 2016
« Reply #8 on: April 28, 2016, 11:31:58 AM »
As it has been expected, the Gross Domestic Product of the UK heightened by 0.4%, while its economy made an increase of 0.6%. The interest for the pound were sustained a bit by the 10-year UK government bonds yield which showed a growth in the Bonds Market.

The first support stands at 1.4480 and at 1.4400 subsequently. While the first resistance occurs at 1.4560 and at 1.4650 subsequently.

A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou span. The Tenkan-sen displays an ascending movement and the Kijun-sen creates a horizontal movement. The ascending movement will remain until the price is over the Cloud.

The MACD indicator is in a positive location. The price is consolidating.



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Technical Analysis for GBP/USD: May 4, 2016
« Reply #9 on: May 04, 2016, 04:07:53 PM »
Declining to its bottom-most level since February 2013, the Markit Manufacturing PMI in the UK modulated to 49.2 in April. This data was lower than the re-assessed value of 50.7 in March and below the economists' expectation of 51.2. The Manufacturing is still one of the most unpredictable sectors of the economy and still faces challenges including poor demand in the Asian markets and the slowing down of the euro area.

The first support occurs at 1.4480 and at 1.4400 subsequently. The first resistance stands at 1.4560 and at 1.4670 subsequently.

A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen and the Kijun-sen display a horizontal motion. The ascending movement will remain until the price is on top of the Cloud.

The MACD indicator is in a positive location. The price is strengthening.



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Technical Analysis for GBP/USD: May 6, 2016
« Reply #10 on: May 06, 2016, 06:48:25 PM »
The sterling hardly reached the 1.45 level when dismal figures on the UK’s services sector was released. GBP/USD retreated to 1.44 levels and bottomed at 1.4456. The current exchange rate is 1.4496.
 
The service industry’s purchasing managers index (PMI) slimmed to 52.3 in April from the previous month’s 53.7, recording the softest PMI in three years.  Economists expected a 53.5 growth.  Traders are closely watching for the NFP data from the US which will help decide the Fed’s next move on its interest rates. 

The first support is at 1.4442 and 1.4403 subsequently while the first resistance is at 1.4494 and 1.4496 subsequently. The MACD indicator is in neutral location. The price is increasing.



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Technical Analysis for GBP/USD: May 13, 2016
« Reply #11 on: May 13, 2016, 04:15:30 PM »
The significant event on Thursday was the inflation report of the Bank of England. As we have expected, the Central Bank statements about the economy and the inflation increase were quite negative. The rate remained unmodified by the UK regulator at the level of 0,5%.

The first support occurs at 1.4400 and at 1.4320 subsequently. The first resistance stands at 1.4480 and at 1.4560 subsequently.

A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a horizontal motion and the Kijun-sen forms a descending movement creating a "Golden Cross". The descending movement will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is declining.



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Technical Analysis for GBP/USD: May 18, 2016
« Reply #12 on: May 18, 2016, 07:03:09 PM »
Bonds Market. The 10-year UK government bonds yield decreased which lessen the investments of the British assets. The UK presented Consumer Price index for April wherein the data came in at 0,3% y/y against the report of 0,5% y/y.

The first support occurs at 1.4400 and at 1.4320 subsequently. The first resistance stands at 1.4480 and at 1.4560 subsequently.

The price is in the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen and the Kijun-sen form a horizontal movement creating a "Dead Cross".

The MACD indicator is in an impartial location. The price is correcting.



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Technical Analysis for GBP/USD: May 26, 2016
« Reply #13 on: May 26, 2016, 05:38:36 PM »
The decreasing doubts regarding the result of the referendum cause the pound to come nearly to its high for the week. The volume of Brexit opponents is 55% against 42% who want to exit the EU, according to the recent poll.

The first support occurs at 1.4670 and at 1.4560 subsequently. The first resistance stands at 1.4760 and at 1.4880 subsequently.

An inveterate and a solid buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chinkou Span. The Tenkan-sen ascends in movement and the Kijun-sen displays a horizontal movement creating a "Golden Cross". This activity will remain until the price is over the Cloud.

The MACD indicator is in a positive location. The price is growing.



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Technical Analysis for AUD/USD: May 30, 2016
« Reply #14 on: May 30, 2016, 06:39:05 PM »
AUD/USD is taking a beating after Fed Chairwoman Janet Yellen said that a rate hike is “appropriate in the next coming months,” fueling speculations of a rate hike in June’s monetary policy meeting.

Bears are surrounding the Australian dollar as high it loses steam, trading at 0.7175 from last week’s 0.72 level. The MACD indicator is in neutral position.

The first support occurs at 0.7065 and 0.6827, while the first resistance occurs at 0.7243 and 0.7331 subsequently.

The pair is in for a volatile ride this week with a deluge of data coming from both sides. Australia’s Company Gross Operating Profits slowed down again to -4.7 percent in the first quarter after sliding by 3.6 percent in the fourth quarter of 2015. This indicates weakening profits of private firms.

New home sales in April declined by 4.7 percent from the previous reading’s 8.9 percent increase. The country’s current account and number of building approvals will follow today, while trade balance, retail data, and GDP will be released on Tuesday.   

On the greenback’s side, consumer confidence and Core CPE Price Index will start the week of significant volatility, trailing to manufacturing PMI and nonfarm payrolls in the later part of the week. Several Fed officials are also scheduled to deliver speeches.