All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD bearish below 1.7000

Posted on July 25, 2014 at 7:25 am GMT

GPPUSD is looking increasingly bearish after having broken below the key psychological 1.7000 level. This level has now turned into a resistance level. This is also where the 38.2% Fibonacci retracement level lies of the upleg from 1.6698 (June 4 low) to 1.7190 (July 15 high). Looking at the 4-hour chart, prices are below the Ichimoku cloud and the tenkan-sen and kijun-sen lines are negatively aligned, adding to the bearish market structure. Technical indicators are also bearish, signaling further possible [..]

Technical Analysis – GBPUSD maintains bullish outlook on Daily

Posted on July 21, 2014 at 6:46 am GMT

GBPUSD has been consolidating on the daily chart for the past three weeks. The overall market structure is bullish as prices created higher highs and higher lows since July 2013 and trading above the Ichimoku cloud and the 200-day moving average. The tenkan-sen and kijun-sen are positively aligned, adding to the bullish bias. Momentum has eased a bit but the RSI remains in bullish territory for now. The multi-year high of 1.7190 hit on Tuesday is now key resistance. To [..]

Technical Analysis – GBPUSD neutral

Posted on July 17, 2014 at 6:25 am GMT

GBPUSD remains neutral and technical indicators are not confirming any trend on the 4-hour chart. The pair is pivoting the 1.7133 level and resting just at the top of the Ichimoku cloud. Tenkan-sen and kijun-sen are horizontal. RSI is flat. The short-term outlook is range-bound. Support lies at the recent low of 1.7058 and resistance at the recent high of 1.7190. [..]

Technical Analysis – GBPUSD consolidates at 1.7100, scope for upside

Posted on July 14, 2014 at 7:04 am GMT

GBPUSD has been consolidating at a near 6-year high between key support as 1.7000 and capped at 1.7178. The pair has potential for more upside to 1.7208 which is the October 21 high. Support is seen at 1.7084 which was hit on Tuesday and is the 38.2% Fibonacci retracement level of the upleg from 1.6926 to 1.7178. Technicals are bullish – tenkan-sen and kijun-sen are positively aligned on the daily chart and prices are well above the Ichimoku cloud. The [..]

Technical Analysis – GBPUSD pauses rally near 6-year high

Posted on July 7, 2014 at 7:08 am GMT

Looking at the daily chart, the short-term trend has been neutral since the start of July, as the pair has been consolidating gains following a rally to 1.7178, the highest in nearly 6 years. The long-term trend remains bullish as the market is well above the 200-day moving average and above its uptrend line. A rising Ichimoku cloud as well as positively aligned tenkan-sen and kijun-sen lines also add to the bullish market structure. Meanwhile the RSI is at 70 [..]

Technical Analysis – GBPUSD, 4-hourly: Cable rallies to 5 ½ year highs but caution warranted

Posted on July 1, 2014 at 9:23 am GMT

[caption id="attachment_17930" align="alignnone" width="555"] (Click to enlarge)[/caption] Sterling rallied strongly in previous sessions, breaking the previous 1.7061 high to trade at a new 5 ½ year high of 1.7130. Sterling is in an uptrend although it is probably overbought in the short-term and needs to consolidate. This is indicated by the Relative Strength Index which is currently at 77; north of the 70 mark which denotes an overbought market. Any pullback would probably be supported by the previous high around [..]

Technical Analysis – GBPUSD extends rally

Posted on June 16, 2014 at 6:56 am GMT

GBPUSD extended its rally for a third day today, breaking above the May 6 high of 1.6995, which was a more-than-4-year high. Prices managed to break above the 20-day and 50-day moving averages last Thursday, which propelled the rally to the 1.70 handle. RSI has gained momentum and is approaching 70, strengthening the bullish bias. Prices have slightly peeked out of the upper Bollinger Band, adding to the upside bias. To the upside, prices are targeting the August 2009 high [..]

Technical Analysis – GBPUSD downside bias

Posted on June 3, 2014 at 6:40 am GMT

Daily technical indicators warn of downside risk for the GBPUSD pair. The tenkan-sen and kijun-sen are increasingly negatively aligned. The RSI has fallen below 50 into bearish territory and the MACD is declining. 1.6776 is acting as resistance while support lies at 1.6728 at the 23.6% Fibonacci retracement level of the upleg from 1.5852 (November 12 low) to 1.6995 (May 6 high). A move to the downside below 1.6728 would target support at 1.6657. A close below this would open [..]

Technical Analysis – GBPUSD attempts rebound, ST outlook neutral

Posted on May 26, 2014 at 9:03 am GMT

GBPUSD tested its short-term downtrend line (from May 6) and failed to break above it. Consequently prices declined and re-entered the Ichimoku cloud. Technical indicators on the 4-hour chart are mixed. MACD is above zero but pointing down. The RSI turned positive and is attempting to rise back above 50.The tenkan-sen and kijun-sen are negatively aligned. This provides a neutral outlook for the short-term. Meanwhile prices have rebounded off support at 1.6810 to test the tenkan-sen line. A move higher [..]

Technical Analysis – GBPUSD reverses recent rally

Posted on May 15, 2014 at 7:55 am GMT

GBPUSD has retraced almost 23.6% of the upleg from 1.5825 (12 November) to 1.6995 (6 May). The pair failed to breach the key 1.7000 level and reversed its recent rally to 1.6995 (a more-than-4-year high) after reaching overbought levels on the daily RSI. The indicator has crossed back below 50 into bearish territory, signaling further downside potential. Key support is the 23.6% Fibonacci at 1.6726, which is also where the lower Bollinger Band is located. Prices have broken below the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

GBPUSD

XM Live Chat