All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD falls 1% this week, bearish in down sloping channel

Posted on December 30, 2015 at 7:36 am GMT

GBPUSD has fallen sharply in December. This week so far the pair has declined by over 1%, dropping from a peak of 1.4944 to an eight-month low of 1.4784, touched on Tuesday. The overall outlook for GBPUSD is bearish. Looking at the weekly chart, the pair has been falling in a downward sloping channel. Cable has been making lower lows and lower highs since declining in June this year, falling from a peak of 1.5929. Prices fell below the key [..]

Technical Analysis – GBPUSD under pressure but outlook remains neutral

Posted on September 23, 2015 at 7:10 am GMT

GBPUSD is under pressure and is testing support at the 200-day moving average at 1.5340. The intra-day bias remains to the downside as the RSI is below 50. A break below the 200-day moving average would signal further downside towards the September 4 low of 1.5162. To the upside prices will first find resistance at the convergence of the tenkan-sen and kijun-sen line at 1.5490. Above this, the Ichimoku cloud will act as a barrier. In the bigger picture, GBPUSD [..]

Technical Analysis – GBPUSD tests 1.5600, bullish above 200-day MA

Posted on July 22, 2015 at 7:20 am GMT

GBPUSD has been struggling to move higher and has been consolidating between 1.5528 and 1.5674 and is basically trapped between the tenkan-sen and kijun-sen lines. If prices break below 1.5529 there is scope to drop back towards the 200-day moving average around the key psychological 1.5400 level. There is currently decent resistance at the highs last week at 1.5674, which needs to be broken to retarget the June 18 peak at 1.5829. A move above this peak would see a [..]

Technical Analysis – GBPUSD bullish outlook with scope to target 1.6000

Posted on June 18, 2015 at 7:04 am GMT

GBPUSD surged on Wednesday to a high of 1.5846, surpassing the May 14 high of 1.5813. The outlook is looking very bullish after the tenkan-sen crossed above the kijun-sen line. RSI is also indicating the possibility of further upside momentum as it is in bullish territory above 50 and not quite in overbought conditions yet. GBPUSD has the potential to reach 1.6000 but in order to achieve this it would have to get over the 50% Fibonacci retracement level of [..]

Technical Analysis – GBPUSD tests 50% Fibonacci

Posted on June 3, 2015 at 7:05 am GMT

GBPUSD rose for a second day on Wednesday to 1.5374 after bouncing off key support at 1.5182. This level is the 50% Fibonacci retracement level of the upleg from 1.4564 to 1.5813. The intraday bias is bullish based on technical indicators. The RSI is pointing back up. The market is still above the daily Ichimoku cloud, and this supports the upside bias. A move higher would target the 23.6% Fibonacci level at 1.5522, which would act as a resistance level. [..]

FX Daily Outlook

Posted on May 11, 2015 at 7:47 am GMT

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Technical Analysis – GBPUSD rally capped by 200-day moving average

Posted on May 11, 2015 at 7:09 am GMT

GBPUSD rally on Friday was capped by the 200-day moving average. After hitting a high of 1.5521 the pair eased lower in early Monday trading. However the intra-day bias remains to the upside as the RSI is in bullish territory above 50 and the tenkan-sen line is rising. Also prices are above the daily Ichimoku cloud. Immediate resistance comes in at 1.5551, the February 26 high. This is a critical level, which if broken would shift the long term outlook [..]

FX Daily Outlook

Posted on May 5, 2015 at 7:50 am GMT

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Technical Analysis – GBPUSD extends retracement of recent rally

Posted on May 5, 2015 at 6:40 am GMT

GBPUSD fell lower on Monday and the correction of the rally from 1.4564 to 1.5497 looks set to extend lower. The pair has fallen below the 38.2% of this rally and support will likely be provided by the top of the daily Ichimoku cloud at 1.5090. This level held on Monday. Next support comes in at 1.5030 (50% Fibonacci and kijun-sen line). A move below this would encourage further weakness. RSI has fallen sharply and is close to the 50-point [..]

Technical Analysis – GBPUSD downside bias strong after reaching 5-year low

Posted on April 14, 2015 at 5:04 am GMT

GBPUSD fell to the lowest level since 2010 on Monday, touching 1.4564. The pair failed to break above resistance of 1.5008 and now the bias remains to the downside. The bearish market structure is highlighted by the falling tenkan-sen and kijun-sen lines, as well as the market being below the Ichimoku cloud. Also the RSI is below 50 in bearish territory. The outlook will remain bearish unless there is a rebound back above 1.5551 (the high of February 26). Otherwise, [..]

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