All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD continues rally to new 8-week high

Posted on February 26, 2015 at 8:21 am GMT

GBPUSD managed to break above and close above the 23.6% Fibonacci retracement level of the 1.7190 to 1.4949 fall. This level comes in at 1.5477. The corrective move higher continues after bouncing from this multi-month low and prices reached a high of 1.5551 by early Thursday, hitting a fresh 8-week high. There is a likelihood for further upward momentum as prices have moved above the top of the cloud and the RSI has entered bullish territory above 50. Also the [..]

Technical Analysis – GBPUSD pauses downtrend, bearish below cloud

Posted on January 21, 2015 at 8:04 am GMT

GBPUSD is consolidating just above the key 1.5000 psychological level. The recent downside momentum has stalled and the pair has been trading between 1.5033 and 1.5268 for the past week, waiting for a catalyst. The 1.5033 level is acting as immediate support and a break below this would expose the July 2013 low at 1.4811. Upon reaching this level GBPUSD would have retraced the entire move up from 1.4811 to 1.7190 (July 2014 high). The overall trend for GBPUSD is [..]

Technical Analysis – GBPUSD falls to new 15-month low

Posted on December 24, 2014 at 8:11 am GMT

GBPUSD extended lower on Tuesday, recording a new 15-month low of 1.5484. 1.5500 is a key level. A daily close below this would strengthen the possibility of another leg lower. The bearish trend is intact and has been strengthened as prices fell below the tenkan-sen and kijun-sen lines. RSI is in bearish territory below 50, highlighting the downside bias. The bearish outlook is reinforced by the market being below the Ichimoku cloud and the failure to break back above the [..]

Technical Analysis – GBPUSD pauses downtrend

Posted on December 2, 2014 at 8:39 am GMT

GBPUSD remains neutral for the moment, consolidating around the 61.8% Fibonacci retracement level of the upleg from 1.4811 to 1.7190. Resistance is seen at 1.5825. Failure to break above this would see prices extend lower after breaking immediate support at 1.5583 to target the 78.6% Fibonacci level at 1.5322. Overall the trend is bearish as can be seen on the daily chart. RSI is bearish territory below 50. The Ichimoku cloud is falling and prices are below it. The tenkan-sen [..]

Technical Analysis – GBPUSD bearish bias but oversold

Posted on November 19, 2014 at 8:08 am GMT

GBPUSD has been in a downtrend since July 15 when it hit a 6-year high of 1.7190. The pair has been making lower highs and lower lows since then. The bearish market structure is being supported by the fact that prices are below the Ichimoku cloud and also the tenkan-sen and kijun-sen lines are negatively aligned. Daily momentum is negative but is approaching oversold levels. The stochastic is also in oversold territory therefore cautioning of possible consolidation in prices in [..]

Technical Analysis – GBPUSD, Daily: Pound on downtrend and 15-month low versus dollar

Posted on November 10, 2014 at 9:18 am GMT

Like most other currencies, the pound has also been a victim of the strength of dollar strength, as the currency’s bull run ended at 1.7190 in mid-July earlier this year. Pound / dollar made a new 15-month low of 1.5788. The indications for the pound are negative since it is trading below the cloud and the Tenkan-sen is below the Kijun-sen, which is also negative. The Chikou span is also free to move lower, as it may encounter resistance only [..]

Technical Analysis – GBPUSD in neutral

Posted on October 29, 2014 at 7:04 am GMT

GBPUSD has paused its downtrend and has a neutral bias since trading within a range between 1.5873 and 1.6225 during the last 3 weeks. Prices are capped by the 50% Fibonacci retracement level of the 1.6523 – 1.5873 downleg (September 19 high – October 15 low). This resistance level stands at 1.6197. The 23.6% Fibonacci level at 1.6024 acts as immediate support while stronger support lies at 1.5873. A break below this would strengthen the bearish bias for another leg [..]

Technical Analysis – GBPUSD maintain downside bias to retest 1.5873

Posted on October 23, 2014 at 7:43 am GMT

GBPUSD maintains its bias to the downside. The market has been making lower highs and lower lows. After bouncing from 1.5873 prices were unable to move beyond 50% of the downleg from the September 19 high of 1.6523 to the October 15 low of 1.5873. This 50% Fibonacci level at 1.6197 is now strong resistance. Prices are currently finding support at the 23.6% Fibonacci at 1.6024. Failure to hold at this level would open the way towards a retest of [..]

Technical Analysis – GBPUSD completes correction higher and reverses lower

Posted on October 13, 2014 at 7:11 am GMT

After making an attempt to correct higher, GBPUSD reversed back down from 1.6225 hit on October 9. The pair was capped by the kijun-sen line and the 50% Fibonacci retracement of the Sept 19 to October 3 downleg. This level stands at 1.6236. The bias is for the market is to head lower as trend indicators show. The tenkan-sen and kijun-sen lines on the daily chart are negatively aligned and the Ichimoku cloud is falling. The market remains below the [..]

Technical Analysis – GBPUSD corrects higher

Posted on September 18, 2014 at 9:40 am GMT

The break of the 200-day moving average strengthened selling pressure for GBPUSD, which declined to a low of 1.6050 on September 10. These selling pressure have since eased and GBPUSD corrected higher to breach resistance at 1.6280 – which is the 38.2% Fibonacci retracement level of the upleg from 1.4811 (July 2013)– 1.7190 (July 2014). The rising momentum (RSI turned up) signals scope for a move higher. Daily resistance now stands at 1.6631 – the 23.6% Fibonacci retracement level. However, [..]

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