Author Topic: Daily GBP/USD Analysis from ForexMart  (Read 7173 times)

Offline Andrea ForexMart

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GBP/USD Technical Analysis: February 20, 2017
« Reply #45 on: February 21, 2017, 01:08:46 PM »

The technical pictures the GBPUSD to hover around the trading range of the previous week. The cable came across with a wave of selling pressure after the failure of the spot in reacquiring the psychological mark 1.2500.

The British currency weakened to 1.2500 amid Asian hours and touched 1.2400 level overnight. The level prevents its losses which rejected the price higher. The pair pushed the 50-EMA lower, tested the 200-EMA and rebounded the 100-day moving averages as shown in the 4-hour chart.

Furthermore, the 200-EMA seems bullish-neutral while the 50 and 100-EMA are neutralized. Resistance settled at 1.2500, support entered 1.2400 area.

The MACD sits in the center point. Should the histogram move near the positive zone to provide further strength for the buyers. While an entry towards the negative territory will imply sellers capacity to manage the market. RSI departed from the neutral zone and advance south.
The technicals manifested a moderate bearish signal. We projected the major will proceed towards 1.2400 and the price might decline to 1.2340 after reaching the initial target.


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GBP/USD Technical Analysis: February 20, 2017
« Reply #45 on: February 21, 2017, 01:08:46 PM »

Offline Andrea ForexMart

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #46 on: February 27, 2017, 06:38:02 PM »
GBP/USD Technical Analysis: February 27, 2017

The British currency preserved a bid tone close to its recent highs. The sterling gained strength following the favorable results for the BBA Mortgage Approvals along with the USD retracement.

The GBPUSD lacks momentum and failed to touch resistance region 1.2600. The bulls stalled near the 1.2565 level due to failure in driving the spot upwards. The pair is confined in a tight range around 50 pips amid the European trades. A bout of renewed selling interest developed amid EU morning trades.

The Cable weakened versus the greenbacks moving near 1.2500 area. The GBP/USD bounced back from the 200-EMA and surpassed the 50 and 100-EMA higher viewed in the 4-hour chart.  The GBP resumed its development over the moving averages. The 200 and 50-EMA directed higher while the 100-EMA preserved a bearish pattern indicated in the same chart. Resistance is set at 1.2600, support pierced the 1.2500 mark.

The MACD indicator increased which confirmed strength for the buyers. RSI weakened and descended.

Bullish sentiment would likely prevail. A trend on top of 1.2550 would restore the bullish tone through 1.2600 – 1.2650.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #47 on: March 07, 2017, 06:16:20 PM »
GBP/USD Technical Analysis: March 6, 2017

The downbeat data of UK non-manufacturing PMI coupled with the growing expectation for the rate increase in US occurred on the back of British currency’s 6-week low recovery versus the greenbacks. Moreover, the sterling resumed its period of consolidation during the Asian trades took place on Friday. The price traded range-bound lower in a tight range of 50 pips. The sellers were able to push the GBP towards 1.2200 as it became active throughout the morning EU trades.

The 4-hour chart continued its development under the moving averages while the 50, 100 and 200-EMAs drove lower. Meanwhile, the 100 and 50-EMA made a downward crossover to the 200-EMA. Resistance is seen at 1.2300, support highlighted 1.2200.

The MACD histogram weakened which indicates seller’s strength. RSI came in the oversold territory, en route south.

Technicals are expected to support a downward extension to 1.2200 level. The final break would suggest further weakness at 1.2150 region. The possible minor correction still predicted to happen if the spot appeared to be oversold. In order to ease the downward pressure, buyers may push the price through the mark 1.2300.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #48 on: March 10, 2017, 02:18:28 PM »
GBP/USD Technical Analysis: March 9, 2017

The House of Lords decided to allow the Parliament to exercise a veto with regards to the management of the Prime Minister towards the European Union. This resolution made some impact to the British currency. Moreover, Theresa May has to face another difficulty with the Brexit negations.

The sterling remained flat during the Asian hours. The sellers spend the whole night accumulating strength for another support and pushed the price lower in the morning.

The spot was removed from the region 1.2200 and progress lower prior to the opening of London session. The Cable was able to hold 1.2150 amid noon trades. As mentioned in 4-hour chart, the price resumed its development under the moving averages. The 50, 100 and 200-EMAs headed downwards. Resistance is seen at 1.220, support highlighted 1.2100.

The MACD indicator decline as the sellers gained strength. RSI belong in the undervalued zone and expected to favor for a new lower trend.

Based on the current flow, a scenario where a downward movement at 1.2100 is considered.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #49 on: March 17, 2017, 04:33:08 PM »
GBP/USD Technical Analysis: March 17, 2017

The market mainly focused on the meeting of the Bank of England about its monetary policy decision. Investors anticipate that regulator will keep an unchanged rate and does not assume any other surprising events.

The market became bearish yesterday. Investors believe that the sterling should be lifted on top of 1.2300. The major stayed near the barrier and moved downwards during the first part of the day. The Cable preserved an ask tone throughout the day.

According to the 4-hour chart, the GBP/USD broke the 50-EMA and tested 100-EMA afterwards. At the same, the 100 and 200-EMAs drove lower while the 50-EMA came in neutral.
Resistance is found at 1.2300 level, support is at 1.2200.

The histogram made its entry to the positive territory. Upon maintaining this position the buyer’s strength will increase. The RSI consolidated alongside the overbought readings.
Moving downwards near the 1.2200 level would the be the next possible scenario.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #50 on: March 21, 2017, 01:11:51 PM »
GBP/USD Technical Analysis: March 20, 2017

The upside bias continued to exist until Friday. Buyers stalled its activity during the night. Moreover, the night correction was considered as a profit-taking action of buyers who failure to hold its place.

Bulls became active in the morning trades pushing the major near 1.2400 region and slowed down further. In line with the presentation of the 4-hour chart, the price cross above the 100-EMA and confined under the 200-EMA. Meanwhile, the 200 and 100-EMAs remained to be in a bearish pattern, 50-EMA directed up as mentioned in the chart. Resistance highlighted 1.2400, support entered 1.2300.

MACD indicator strengthened confirming for a buy signal. The RSI consolidated around the positive area.

Should the GBP/USD pair accomplish to breakout from the 1.2400 mark, the next focus is 1.2500 resistance region. However, there is an outside chance for a move on top of 1.2400 due to an overbought condition. Due to this probable scenario, the Cable is expected to reverse at 1.2300.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #51 on: March 27, 2017, 07:13:39 PM »
GBP/USD Technical Analysis: March 27, 2017

The recovery of the greenbacks coupled with the BBA Mortgage Approvals of UK place pressure towards the British currency on Friday.

The Cable secured its bullish market position on Friday. The spot leaves the upper limit of the channel in the night and slowed down near its lower limit during the morning session of Europe. The GBPUSD kept steady amid the day maintaining its seat close to the 1.2500 region.

The 4-hour timeframe illustrated the major stayed aloft moving averages, seeing the 100 and 50-EMAs to drive higher while 200-EMA turned neutral.

Resistance touched 1.2500, support hit 1.2400.

The MACD indicator grew less presenting weak position of the buyers. RSI oscillator sits next to the overbought grounds, confirming for a higher move.

A move over the 1.2500 level would likely take an advance move towards 1.2600 mark.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #52 on: April 04, 2017, 11:49:30 AM »
GBP/USD Technical Analysis: April 3, 2017

The renewed figures of British Gross Domestic Product saddened the investors as it presented lower than expected results. The report stalled the current recovery which pushed the spot downwards.

The Cable started the day with a bullish tone. Traders successfully lead the price near the resistance level 1.2500 where the spot met new offers. The GBP/USD stirred away from the barrier in the mid-session of Asian hours and sustained a downward sentiment amid European trades.

The price moved close the mark 1.2450 in the middle part of the day in which the sterling lost its selling impetus.

The 4-hour chart pointed out the 50-EMA being tested by the major. Meanwhile, the 50 and 100-EMAs preserved its bullish pattern, alongside the 200-EMA to appear neutral.

Resistance touched 1.2500, support entered 1.2400.

The MACD histogram increased indicating weak seller’s position. The RSI maintained its position within the neutral grounds.

The major is seen struggling with an aim to build towards the recovery gains. A break over the region 1.2500, the next focus would probably the 1.2600 mark.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #53 on: April 18, 2017, 05:15:51 PM »
GBP/USD Technical Analysis: April 17, 2017

The 1.2500 level halted the sellers activity on Thursday.  The price rebounded the mark during the Asian hours and continued to climb higher. The British currency strengthen overnight and highlighted the area 1.2515 during the first part of the day.

The spot maintained a spot nearly its recent highs within the day. Resistance is at 1.2600 region, support touched the 1.2500 range.

It is much anticipated for a move below the 1.2400 area.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #54 on: April 21, 2017, 12:42:42 PM »
GBP/USD Technical Analysis: April 19, 2017

The British pound versus the U.S. dollar sustained the bid tone during the Tuesday Asian session. The price climbed from 1.2550 during the night and proceeded towards the 1.2600 level the next morning. The pound rebounded moved downhill during the post-London open. It almost reached the 1.2500 level as the trend turned bullish again. It surged upwards reversing losses as it broke exceeding the 1.2600 mark. 

The Resistance level came in at 1.2700 while the support level was seen at 1.2600 mark. If the market is capable of sustaining the psychological levels higher than the 1.2600, the buyers will have the upper hand towards 1.2700.

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Re: Daily GBP/USD Analysis from ForexMart
« Reply #55 on: April 27, 2017, 01:51:47 PM »
GBP/USD Technical Analysis: April 26, 2017

The general situation persists to manifest the same scene as of Tuesday. The British currency seems rangebound amid day trades. The price has already reached the band’s lower limit during the first part of the day and rebounded afterward.

The spot stalled having touched the range’s upper limit while technical indicators are in mixed signals.

Moreover, the Exponential Moving Averages (EMAs) trailed lower while the RSI together with the MACD showed positive indications. Resistance entered 1.2900 level, support entered 1.2800 area.

A negative scenario is projected to take place. In case that the GBPUSD touched below the 1.2800 support region will trigger a downtrend in the near future.

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GBP/USD Technical Analysis: May 15, 2017
« Reply #56 on: May 15, 2017, 06:39:43 PM »

The Cable decline within the week as it tested the bottom of the hammer in the past week. The range 1.2950 appeared to be resistive, moving near the 1.3 region. A break over the mentioned level will push the market around 1.3450, wherein a previous resistance was seen.
A cut through in that area would likely be bullish, however, there is a significant level of support found at 1.2750 range.

To be honest, it will be a tedious job to grind below just like breaking upwards. The short-term trading could possibly the simplest thing to accomplish since the market has high possibility to consolidate amid the two regions.

A move in the long-term is anticipated and a needs to break out within area to execute the trade. Meanwhile, a range bound short term is predicted as it will remain to take notice.
Moreover, a breakdown underneath 1.2750 will cause the market to continue to slide.

A significant amount of support can be found below, however, it would appear like the  longer term downtrend resumption.

The British currency is currently surrounded by lots of dynamic strains, hence expect for a complex trend over here. In light of this, we decided to allow the market to take an action deliberately.

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GBP/USD Technical Analysis: May 19, 2017
« Reply #57 on: May 19, 2017, 03:15:40 PM »

The national currency of Britain climbed higher as the data of retail sales presented stronger figures beating expected result.

The level 1.30 contained some amount of psychological significance. A break out on top of it provides signs of bullishness. With that being said, the market is expected to move higher on a longer-term however the overall place appeared to be complex.

There is a likelihood that the market will trail upwards hitting the region above 1.3450.
The stronger statistics of the retail sales could be linked on some side of inflation because the figures and U.K suddenly gained greater strength.

We could still experience pullbacks occasionally and it should provide buying opportunities intended for longer-term traders.

A huge increase throughout the day indicates a bullish sign while trends could possibly break and when it happen, the market may need to take some time to rest.

The downtrend is over for the GBPUSD however, plenty of noise are needed to beat amidst the current range together with the mark 1.3450 which requires patience and diligence.

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GBP/USD Technical Analysis: May 22, 2017
« Reply #58 on: May 22, 2017, 06:12:38 PM »

During the Friday session, the pair GBPUSD remarkably did well since an extreme and rapid price decline occurred on Thursday. While an uptrend is tested, however, a turnaround was carried out promptly.

As the traders calm down, the market eventually break out in the upside hitting the top of the 1.30 region. In the previous trades, a renewed highs were formed and the Britain’s currency would likely look forward through the 1.3450 area that has consolidated in the longer term.

A break on top of the range 1.30 seems significant and the flash crash happened on Thursday still not clear which brought fears to many people. Moreover, the uptrend line amid that sudden drop matters a lot and it appears that the 1.29 mark can be the acting basement of this market.

The choppiness was still expected to continue but the market may indicate a bullish attitude.

The pullback eyes some support within the level 1.30 but a breakout towards a fresh peak would trigger a buying behavior.

The GBP attempted to change its general trend in the upside which could go a long way throughout establishing trend confidence.1

In addition, the uptrend will continue since the moving averages drove to the upside and selling is not an option at all. While a move forward would pave the way for the “buy on the dips”.

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NZD/USD Technical Analysis: May 29, 2017
« Reply #59 on: May 29, 2017, 04:08:36 PM »

The New Zealand dollar against the U.S. dollar has had a flat trading in early Friday but when the buyers returned, the price rose towards the 0.71 handle and above. Short-term pullbacks offer value in the market as the market tries to reach higher levels.

The 0.70 level gives off massively supportive until the price breaks lower which makes it complicated selling. Buyers will proceed with going long as the market is open climb higher although the pair is still involved with high risks. It is anticipated that the pair will most likely decline from here onwards that makes the pair more susceptible to risks.

There is a strong upward pressure for this pair and volatility would increase even more. The New Zealand dollar is highly sensitive to the overall commodity market that makes is important to monitor the commodity market not necessarily a certain commodity market.

There is high volatility in the market which will reflect in trading this pair. With the political concerns from the Washington, D.C., the pair is expected to be influenced despite its almost daily occurrence. Hence, traders should still be cautious that makes short-term trades more advisable to trade to make through the current problems concerning this pair.