All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD bullish

Posted on February 17, 2014 at 10:13 am GMT

GBPUSD hit a new 4-year high of 1.6821 on Monday. Bullish sentiment on the 4-hour chart remains strong as prices crossed above the 20, 50 and 200 period moving averages. A buy signal was given February 12 when the 20-period moving average crossed above the 200-period moving average. MACD is rising and in bullish territory. The Stochastic still maintains its bullish sentiment although it has started to move away from extreme overbought levels and fell below the 80 level as [..]

Technical Analysis – GBPUSD at key turning point

Posted on January 29, 2014 at 9:22 am GMT

Cable traded a tight 30-pip range in the Asian session today, with congestion around 1.6582, which is the 23.6% Fibonacci retracement level of the up-leg from the January 17 low (1.6308) to the January 24 high (1.6667). This level is an important turning point for the pair which could turn to the upside or downside. GBPUSD has tested the key 1.6600 level several times in the past week but has remained capped below this strong resistance level. Tuesday’s UK Q4 [..]

Technical Analysis – GBPUSD Daily: uptrend continues; possibly eyeing 3-year high at 1.6740

Posted on January 22, 2014 at 10:08 am GMT

[caption id="attachment_12803" align="alignnone" width="550"] (click to enlarge)[/caption] As can be seen from the chart, the pound has performed particularly strongly against the US dollar during the last 6 months following the 1.47 low in early July 2013. Following a 2-year high at 1.6592 on the first trading day of 2014 (January 2nd), the pound has corrected somewhat, making a low just above 1.63. It has since rebounded, topping 1.65 following supportive economic data in the form of stronger-than-expected retail sales [..]

Technical Analysis – GBPUSD intra-day short-term bearish

Posted on January 7, 2014 at 10:03 am GMT

Cable has been bearish since falling from a 2-year high on a Jan 2nd. Sterling is experiencing a natural correction after a sharp rally against the dollar from November last year. GBPUSD has since retraced as far as 38.2% of the down leg from the January 2nd high to the Jan 6th low and is currently just below the 23.6% Fibonacci retracement level of this move. The pair is trading below the key 1.64 level today despite a brief bounce [..]

Technical Analysis – GBPUSD Hourly: back in range trading after 2-year high

Posted on December 11, 2013 at 12:13 pm GMT

[caption id="attachment_11971" align="alignnone" width="550"] (click to enlarge)[/caption] Although the pound managed to make fresh 2-year highs during Tuesday’s (10 December) trading against the dollar, this momentum was not sustained and the pound fell back. 1.6464 was the highest level for the pair going back to August 2011. The pound’s move was overextended as can be seen by the very high Relative Strength Index reading of 82 achieved when the 2-year high was made. RSI readings above 70 are interpreted as [..]

Technical Analysis – GBPUSD remains bullish after UK manufacturing PMI

Posted on December 2, 2013 at 9:41 am GMT

GBPUSD has been rising steadily since the November 12, 2013 low of 1.5853 to a fresh 2-year high of 1.6441 in the Asian session today. UK manufacturing PMI for November was released today with a much-better-than expected reading of 58.4, up from the October reading of 56.0. Sentiment on the pound is overall bullish especially since the recent string of positive UK economic data, which raises expectations of early monetary policy tightening by the Bank of England in the near [..]

Technical Analysis – GBPUSD sustains upside momentum

Posted on November 25, 2013 at 12:36 pm GMT

GBPUSD is maintaining its upward momentum on the daily chart, extending a rally from the November 12 low of 1.5853 to peak at a high of 1.6239 in early Monday trading. The sustained break of the key 1.6200 psychological level has reinforced the bullish sentiment in the pair, giving scope to target the resistance area at 1.6255-1.6260. This area has been approached several times since October and will prove to be a tough obstacle to break and could keep the [..]

Technical Analysis – GBPUSD under pressure

Posted on November 12, 2013 at 8:40 am GMT

On the Daily chart, GBPUSD has been rallying since July 9 until peaking on October 1 and has since been consolidating. The pair has been capped below 1.6259 and supported above 1.5893. The pair has been back under pressure and is trading in the lower range after falling during the past three days. Today’s UK October CPI will be a key driver. Today’s forecast is for a print of 2.5%. A number below this would weigh on the pound, and [..]

Technical Analysis – GBPUSD in a rising channel

Posted on October 30, 2013 at 11:16 am GMT

On the long term daily chart, cable has been in a rising channel since the July 9th low to the October 1st high. It is currently testing the lower channel line today. On the hourly chart, sterling has been in a steady downtrend against the US dollar in the last three days and has stalled at the 1.6022 level, before bouncing higher and testing the key 1.6070 level. The next support level is at the key psychological level of 1.5900 [..]

Technical Analysis – GBPUSD in downtrend after bearish MA crossover

Posted on October 10, 2013 at 9:28 am GMT

GBPUSD remains bearish below 1.6000. Price action is below the downtrend line on the 4H time frame, while the 20-period Moving Average crossed below the 50-period Moving Average, which is a bearish signal. RSI has fallen to bearish territory. However since RSI is approaching oversold levels, there is a possibility for price to make a correction back to R1 an d then resume the downtrend to support levels at 1.5885 and 1.5770. A break above R1 could target the next [..]

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