All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD bounces off 10-month lows

Posted on September 12, 2014 at 7:04 am GMT

GBPUSD bounced off 10-month lows and is testing the 38.2% Fibonacci retracement level of the 1.4811-1.7190 upleg, at 1.6285. The overall trend is bearish as the market is below the 200-day moving average and the daily tenkan-sen and kijun-sen are negatively aligned. Trend oscillators like RSI and the stochastic which were recently showing an oversold bias have now moved away from extremes, warning of more downside. There is scope to target the 50% Fibonacci at 1.5998, which is close to [..]

Technical Analysis – GBPUSD strongly bearish trend despite oversold levels

Posted on September 10, 2014 at 6:49 am GMT

GBPUSD is well into oversold territory, with the daily RSI reaching as low as 13 yesterday and the stochastic below 5 points. Despite the market being overstretched, the trend is strongly bearish and there are no divergences in the technical indicators. The tenkan-sen and kijun-sen lines are negatively aligned, and prices are well below the 200-day moving average. MACD is bearish. Currently prices have found support at the psychological level of 1.6100. The next target down is at the 50% [..]

Technical Analysis – GBPUSD at oversold levels

Posted on September 9, 2014 at 8:24 am GMT

GBPUSD has tumbled to fresh 10-month lows of 1.6063, with further downside potential. The daily technical indicators are strongly bearish. The tenkan-sen and kijun-sen lines are negatively aligned. The MACD is in negative territory. RSI and the stochastic are strongly bearish but at extreme oversold levels, warning that the market is stretched. Next support is seen at the psychological level of 1.6000. Resistance comes in at 1.6200 followed by Friday’s low of 1.6280. [..]

Technical Analysis – Pound in significant down move versus dollar after mid-July 6-year high

Posted on September 3, 2014 at 8:23 am GMT

Following a six-year high of 1.7190 on July 15, the pound has been in a steady downtrend, quickly reversing the previous months’ rally and currently challenging the 6-month low of 1.6464 (it has not yet closed below it). According to the Ichimoku analysis, the pound is trading below the cloud since the beginning of August, while the Tenkan-sen and Kijun-sen lines are negatively aligned and bearish. Despite the bearish-looking chart, the pound is currently oversold as the RSI is currently [..]

Technical Analysis – GBPUSD breaks out of bearish channel

Posted on September 1, 2014 at 12:12 pm GMT

GBPUSD has broken out of its bearish channel on the daily chart after bouncing from a 5-month low of 1.6535 on August 27. RSI is leaving oversold territory which suggests a weakening of selling pressures in the near-term. This level now acts as strong support for any downside moves. To the upside, resistance is seen at 1.6690 at the 200-day moving average. [..]

Technical Analysis – GBPUSD downside risk

Posted on August 19, 2014 at 7:44 am GMT

The downtrend from mid-July remains intact and GBPUSD appears to remain under pressure while it trades below the daily Ichimoku cloud and the downtrend line. Technical indicators show downside risk – tenkan-sen and kijun-sen are negatively aligned, RSI is in bearish territory and MACD is negative. The market is below the 10-day moving average but is supported by the 200-day moving average, suggesting there might be a temporary pause in the decline of prices. Near-term support is seen at 1.6656, [..]

Technical Analysis – GBPUSD selling pressure

Posted on August 14, 2014 at 8:16 am GMT

GBP/USD briefly spiked to 1.6837 on Wednesday and after failing to close above the key 78.6% Fibonacci retracement level the pair tumbled to retrace 100% of the 1.6698 – 1.7190 upleg. Cable was last at 1.6656 early on Thursday, with the bias firmly on the downside and with scope to target the March 24 low of 1.6464. The daily technical indicators are reinforcing the bearish market structure. The tenkan-sen and kijun-sen lines are increasingly negatively aligned, while RSI and MACD [..]

Technical Analysis – GBPUSD bearish below 100dma and Ichimoku

Posted on August 11, 2014 at 7:48 am GMT

GBPUSD maintains its downtrend within the downward channel. The pair turned increasingly bearish after falling below the daily Ichimoku cloud and breaking below the 100-day moving average. The tenkan- sen and kijun-sen lines are negatively aligned, adding to the bearish market structure. RSI is increasingly negative, heading into oversold territory. If the market remains below the 78.6% Fibonacci retracement level of the 1.6692-1.7190 upleg, this would reinforce the underlying bearish outlook for GBPUSD. This level comes in at 1.6799. There [..]

Technical Analysis – GBPUSD bearish after breaking below 100dma

Posted on August 4, 2014 at 9:32 am GMT

GBPUSD has strengthened it bearish bias after breaking below the 100-day moving average and also breaking below the daily Ichimoku cloud on Friday. The pair has retraced almost 78.6% of the upleg from 1.6692 to 1.7190 and is currently resting just above the Friday low of 1.6813. Bearish momentum accelerated its decline since breaking below 50 and falling into bearish territory. The RSI is currently at 26 at oversold levels. Further weakness in cable is expected, with scope to target [..]

Technical Analysis – GBPUSD in downward channel

Posted on July 30, 2014 at 6:32 am GMT

GBPUSD is in a bearish trend which was strengthened after breaking below the key 1.7000 level on July 24. The pair is approaching the June 18 low at 1.6926. A break below this would provide further downside towards next support at 1.6849 which is defined by the top of the Ichimoku cloud. The near-term trend is down as prices fall within the channel. The tenkan-sen has crossed below the kijun-sen line, giving a bearish signal. RSI is in bearish territory [..]

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