All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD bullish flag suggests further upside

Posted on May 7, 2014 at 8:44 am GMT

GBPUSD hit an over 4-year high of 1.6995 on Tuesday. Technical indicators are giving bullish signals on the 4-hour chart. RSI is above 70 and MACD is above zero, indicating further upside potential. The market is far above the Ichimoku cloud and above the tenkan-sen and kijun-sen lines which are positively aligned, adding to the strong bullish bias. Prices have formed a bullish flag formation. As prices are consolidating after the strong rally, the market is expected to continue the [..]

Technical Analysis – GBPUSD corrects upside move

Posted on May 5, 2014 at 12:03 pm GMT

GBPUSD hit a new multi-year high of 1.6917 on Thursday and has corrected slightly lower to the 38.2% retracement level of the upleg from April 24 (1.6764) to May 1 (1.6917). This level is at 1.6860, which is also where prices found support at the Tenkan-Sen line on the 4-hour chart. The market is above the Ichimoku cloud which is a bullish signal. The RSI is positive above 50 but inclining downwards so there is scope for a correction lower [..]

Technical Analysis – GBPUSD bullish bias intact

Posted on May 2, 2014 at 9:46 am GMT

After range-trading between 1.6760 and 1.6850 for the past 2 weeks, GBPUSD finally broke out higher to reach 1.6917, a near 5-year high. The uptrend remains in place as the market continues to trade above the rising trendline from early April on the 4-hour chart. Also prices are above the positively aligned 20 and 50-period moving averages. A positive RSI and MACD adds to the bullish bias. Prices are currently consolidating just above 1.6872, as markets await for direction to [..]

Technical Analysis – GBPUSD upside momentum stalls on daily

Posted on April 30, 2014 at 7:37 am GMT

GBPUSD has lost some upside momentum as it has been trading sideways in the past two weeks, finding support at 1.6761 on the daily chart. RSI has flattened, indicating this fading of upside momentum, but remains above 50, which maintains the pair’s bullish outlook. Cable has been in an uptrend since July 2013. The market has consistently traded above the 100-day moving average since August of last year, which is a bullish signal. The pair is also trading above the [..]

Technical Analysis – GBPUSD neutral

Posted on April 25, 2014 at 10:07 am GMT

GBPUSD has been trading in a range in the past week after a strong rally from 1.6553 on April 4 to a 4-year high of 1.6841 on April 17. The pair is stuck between 1.6761 and 1.6841. These levels are acting as immediate support and resistance levels. The RSI on the daily chart has flattened but remains above 50 in bullish territory. This indicates that momentum has faded although upside potential exists. Prices are trading in the upper half of [..]

Technical Analysis – GBPUSD maintains bullish bias

Posted on April 23, 2014 at 7:27 am GMT

GBPUSD has broken back above the key 1.6800 level and has maintained its upside momentum. The market is trading above the 50 and 100-day moving averages, which is a bullish signal. The pair rallied strongly from the March 24 low of 1.6468 to the April 17 high at 1.6841 and has since been consolidating around this level, currently hugging 1.6800. The RSI found resistance at the 70 level and is pointing downwards, suggesting for some weakening in the upside momentum. [..]

Technical Analysis – GBPUSD looking bearish

Posted on April 14, 2014 at 9:28 am GMT

GBPUSD is looking bearish below 1.6760 on the 4-hour chart. The pair has retraced 38.2% (1.6722) of the recent bull run from April 7 (1.6564) to April 10 (1.6819). Resistance at 1.6760 is important as it is where the 20-period moving average lies and is the 23.6% Fibonacci retracement level. A decisive break above this would see a retest of the April 10 high at 1.6819. A further move higher would target 1.6840. To the downside, the pair would find [..]

Technical Analysis – GBPUSD bullish but prone to correction

Posted on April 9, 2014 at 9:18 am GMT

GBPUSD is bullish on the hourly chart. The pair rallied strongly from 1.6611 to reach a high of 1.6753 on April 8th. The pair has since been consolidating in a tight range below this high. A break above the range-high of 1.6753 will target 1.6784 (March 7 high) and then 1.6821 (February 17 high). A short term correction is possible and bullish momentum may come under pressure as RSI is dropping and prices have fallen below the 20-hour moving average. [..]

Technical Analysis – GBPUSD bearish

Posted on April 7, 2014 at 8:31 am GMT

GBPUSD is consolidating around 1.6573 which is the 50% Fibonacci retracement level of the recent upleg from the March 24 low (1.6464) to the March 31 high (1.6683). The pair is looking bearish on the 4-hour chart after having declined steadily form the March 31 high. The 20-period moving average crossed below the 50-period, which is a bearish cross. RSI is below 50 and MACD is below zero. Next support comes in a 1.6549 (61.8% Fibonacci and close to Friday’s [..]

Technical Analysis – GBPUSD uptrend pauses

Posted on March 17, 2014 at 9:08 am GMT

The underlying long term trend for cable has been bullish. GBPUSD has been in an uptrend since July 2013 and the pair has gained 12% since then. The daily chart analysis shows GBPUSD has been mostly range-bound in the past four weeks, trading sideways between lows of 1.6567 and highs of 1.6821. Technical indicators shows that price action has lost momentum; the RSI has levelled off around the 50-point level and the stochastic has declined to below 30. However, the [..]

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