GBP/USD Technical Analysis 28/12/09

[TraderDTS]

Hello Traders!

Here is my GBPUSD analysis:

GBP/USD WEEK



There are no changes over last week. We see an uptrend. The first target along the trend almost coincides with the strong reversal level 8/8. The price is in the upper trading range. After hitting level 7/8 there is a good chance of reaching T1. A reversal from level 8/8 is also possible.

GBP/USD DAY


This is a downtrend. There are no targets along the trend. The price has reached a strong reversal level 0/8 which is significant on weekly charts. There is a high possibility of the trend’s reversal from the oversold area.

GBP/USD 240


We can see a downtrend. On the way to the target there is a strong reversal level 2/8 which is significant on a senior time frame. The price is in the upper trading range. After hitting level 2/8 the price may reach target T1.

[MDunleavy]

Intraday bias in GBP/USD remains on the upside for the moment. Rise from 1.4798 is treated as the third leg of consolidation pattern that started at 1.4783 and is possibly targeting 1.5381 resistance. Nevertheless, upside should be limited by 38.2% retracement of 1.6456 to 1.4783 at 1.5422 to conclude the consolidation and bring down trend resumption. On the downside, below 1.5118 minor support will flip intraday bias back to the downside. Decisive break of 1.4783 low will confirm that whole decline from 1.6456 has resumed and should target 200% projection of 1.6875 to 1.5829 from 1.6456 at 1.4364.

In the bigger picture, there is no change in our bearish view. That is, medium term rebound from 1.3503, which is treated as a correction to down trend from 2.1161, has completed at 1.7043 already. Fall from there is tentatively treated as resumption of the down trend from 2.1161 and should target a new low below 1.3503. On the upside, break of 1.5814 resistance is needed to invalidate this view. Otherwise, outlook will remain bearish.[Written by ActionForex.com]

"P&F GBPUSD1440 Box Size 250X3 or(4.33%) HI/LO
Data 2.1161 - 1.3502 ~ 92 Month ~ 2797 Day
Database 2000 records 1.51921 (Last Close)
2002-08-05 00~00
2010-04-02 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

2.1250|~25O||_____________________________________ |-0.42%|57.38%
2.1000|~5OO||_________________X___________________ |0.76%|55.53%
2.0750|~75O||_________________Xo__________________ |1.94%|53.68%
2.0500|~1OOO|_______________X_Xo__________________ |3.12%|51.83%
2.0250|~125O|_______________XoXoX_________________ |4.31%|49.98%
2.0000|~15OO|_______________XoXoXo________________ |5.49%|48.13%
1.9750|~175O|_______________Xo_oXo________________ |6.67%|46.27%
1.9500|~2OOO|_________X_____X__o_o________________ |7.85%|44.42%
1.9250|~225O|_________Xo____X____o________________ |9.03%|42.57%
1.9000|~25OO|_____X___Xo__X_X____o________________ |10.21%|40.72%
1.8750|~275O|_____XoX_Xo__XoX____o________________ |11.39%|38.87%
1.8500|~3OOO|_____XoXoXo__XoX____oX_______________ |12.58%|37.02%
1.8250|~325O|_____XoXoXoX_Xo_____oXo______________ |13.76%|35.17%
1.8000|~35OO|_____XoXoXoXoX______oXo______________ |14.94%|33.31%
1.7750|~375O|_____XoXo_oXoX______oXo______________ |16.12%|31.46%
1.7500|~4OOO|_____Xo___o_oX______o_o______________ |17.3%|29.61%
1.7250|~425O|_____X______o_________o______________ |18.48%|27.76%
1.7000|~45OO|_____X________________o__________X___ |19.66%|25.91%
1.6750|~475O|___X_X________________o__________XoX_ |20.84%|24.06%
1.6500|~5OOO|_X_XoX________________oX_________XoXo |22.03%|22.2%
1.6250|~525O|_XoXoX________________oXo________XoXo |23.21%|20.35%
1.6000|~55OO|_XoXoX________________oXo________XoXo |24.39%|18.5%
1.5750|~575O|oXoXo_________________oXo________Xo_o |25.57%|16.65%
1.5500|~6OOO|oXo___________________o_oX_X_____X__o |26.75%|14.8%
1.5250|~625O|o_______________________oXoXoX___X__o |27.93%|12.95%
1.5000|~65OO|________________________oXoXoXo__X__o |29.11%|11.09%
1.4750|~675O|________________________o_oXoXoX_X___ |30.3%|9.24%
1.4500|~7OOO|__________________________o_o_oXoX___ |31.48%|7.39%
1.4250|~725O|______________________________oXoX___ |32.66%|5.54%
1.4000|~75OO|______________________________oXoX___ |33.84%|3.69%
1.3750|~775O|______________________________o_o____ |35.02%|1.84%
1.3500|~8OOO|_____________________________________ |36.2%|-0.01%
Column|||||||3545416547834739356314147344436441547 |
Count||||||||_____3______________1_2__________3___ |



BJF-Trading-Group_Excel_Chart

[MDunleavy]

The pound reverThe pound reversed below the new support level at $1.53, warning of a bull trap.
Expect another test of $1.48.
Recovery above $1.53, however, would signal a rally to $1.60, confirmed if the declining trendline is broken.

"P&F GBPUSD1440 Box Size 250X3 or(4.33%) HI/LO
Data 2.1161 - 1.3502 ~ 91 Month ~ 2797 Day
Database 2000 records 1.52649 (Last Close)
2002-09-02 00~00
2010-04-30 00~00 (GMT+01:00) Paris
BJF Trading Group chart"



BJF-Trading-Group_Excel_Chart

[frontier2002]

how come no more updates from here

[MDunleavy]

Trade Idea: GBP/USD - Sell at 1.4580 Target: 1.4160 ; Stop: 1.4700 .
============================================
Pound/Dollar traded hesitantly on Wednesday, in converse with negative Interbank sentiment at
nearly -59%. The Cable was moving within the narrow 1.4337 - 1.4448 range, closing the day at
1.4386. Today Sterling is making recovery efforts, reaching the high levels from the beginning
of the week. First resistance is today's top at 1.4535. Break above it should extend the
bullish movement further towards 1.4627. The nearest support is yesterday's bottom at 1.4337.
Going bellow it should extend British Pound's reduction further down towards next downward
objective 1.4250.

"P&F GBPUSD15 Box Size 30X3 or(0.62%) HI/LO
Data 1.4958 - 1.423 ~ 0,5 Month ~ 15.01 Day
Database 1050 records 1.4559 (Last Close)
2010-05-12 12~15
2010-05-27 12~30 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"

1.4970|~3O|||_____________________________________ ___________|-0.08%|5.2%
1.4940|~6O|||__+__________________________________ ___________|0.12%|4.99%
1.4910|~9O|||o_x_+________________________________ ___________|0.32%|4.78%
1.4880|~12O||o_x_o_+______________________________ ___________|0.52%|4.57%
1.4850|~15O||o_x_o___+____________________________ ___________|0.72%|4.36%
1.4820|~18O||o___o_____+__________________________ ___________|0.92%|4.15%
1.4790|~21O||____o_______+________________________ ___________|1.12%|3.94%
1.4760|~24O||____o_________+______________________ ___________|1.32%|3.72%
1.4730|~27O||____o___________+____________________ ___________|1.52%|3.51%
1.4700|~3OO||____o_____________+__________________ ___________|1.72%|3.3%
1.4670|~33O||____o_______________+________________ ___________|1.93%|3.09%
1.4640|~36O||____o_________________+______________ ___________|2.13%|2.88%
1.4610|~39O||____o_x_________________+____________ _________+_|2.33%|2.67%
1.4580|~42O||====o=x=o=================+========== =========x=|2.53%|2.46%
1.4550|~45O||____o_x_o___________________+_____+__ _________x_|2.73%|2.25%
1.4520|~48O||____o___o_____________________+___x_+ _________x_|2.93%|2.04%
1.4490|~51O||________o_x___x_________________+_x_o _+_______x_|3.13%|1.83%
1.4460|~54O||________o_x_o_x_o_____x_______x___x_o _x_+_____x_|3.33%|1.62%
1.4430|~57O||________o_x_o_x_o_____x_o_x___x_o_x_o _x_o_x___x_|3.53%|1.41%
1.4400|~6OO||________o_x_o_x_o_____x_o_x_o_x_o_x_o _x_o_x_o_x_|3.73%|1.19%
1.4370|~63O||________o_x_o___o_x___x_o_x_o_x_o_x_o ___o_x_o_x_|3.93%|0.98%
1.4340|~66O||________o_x_____o_x_o_x_o_x_o___o____ ___o_x_o_+_|4.13%|0.77%
1.4310|~69O||________o_x_____o_x_o_x_o_x__________ ___o_x_+___|4.33%|0.56%
1.4280|~72O||________o_______o_x_o_x_o_x__________ ___o_+_____|4.53%|0.35%
1.4250|~75O||________________o___o___o____________ ___+_______|4.73%|0.14%
1.4220|~78O||_____________________________________ ___________|4.93%|-0.07%
Column|~9OO||4_3_1_3_1_7_4_4_8_4_4_7_7_6_3_4_4_6_5 _3_6_5_3_8_|
Count||~93O||____3___1____________________________ ___________|




BJF-Trading-Group_Excel_Chart

[MDunleavy]

Intraday bias in GBP/USD is turned neutral as it retreats sharply from intraday high of 1.4885. Note that
recovery from 1.4230 is expected to be limited by 100% projection of 1.4230 to 1.4769 from 1.4346 at
1.4885. Break of 1.4644 minor support will suggest that such recovery is completed and flip intraday bias
back to the downside. Further break of 1.4346 will confirm this case and target a retest of 1.4230 low
next. However, decisive break of 1.4885 will target 1.5053 resistance next.

"P&F GBPUSD10080 Box Size 450X3 or(7.71%) HI/LO
Data 2.454 - 1.0463 ~ 389 Month ~ 11851 Day
Database 1694 records 1.48097 (Last Close)
1978-01-01 00~00
2010-06-13 00~00 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"

2.4750|~45O||______________+______________________ _____________________________________|-0.86%|136.55%
2.4300|~9OO||______________x_o____________________ _____________________________________|0.98%|132.25 %
2.3850|~135O|______________x_o_+__________________ _____________________________________|2.81%|127.95 %
2.3400|~18OO|______________x_o___+________________ _____________________________________|4.65%|123.65 %
2.2950|~225O|______x___x___x_o_____+______________ _____________________________________|6.48%|119.34 %
2.2500|~27OO|______x_o_x_o_x_o_______+____________ _____________________________________|8.31%|115.04 %
2.2050|~315O|______x_o_x_o_x_o_________+__________ _____________________________________|10.15%|110.7 4%
2.1600|~36OO|______x_o_x_o___o___________+________ _________________________+___________|11.98%|106.4 4%
2.1150|~4O5O|______x_o_x___+_o_____________+______ _________________________x_+_________|13.81%|102.1 4%
2.0700|~45OO|__x___x_o___+___o_______________+____ _________________________x_o_+_______|15.65%|97.84 %
2.0250|~495O|__x_o_x___+_____o_________________+__ _+_______________________x_o___+_____|17.48%|93.54 %
1.9800|~54OO|__x_o_x_+_______o_____________x_____+ _x_+_____________________x_o_____+___|19.32%|89.24 %
1.9350|~585O|o_x_o_+_________o_x___________x_o____ _x_o_+_______________x___x_o_______+_|21.15%|84.94 %
1.8900|~63OO|o_x_+___________o_x_o_x_______x_o____ _x_o___+_________x___x_o_x_o_________|22.98%|80.64 %
1.8450|~675O|o_+_____________o_x_o_x_o_x___x_o_x__ _x_o_____+_______x_o_x_o_x_o_________|24.82%|76.34 %
1.8000|~72OO|+_______________o___o_x_o_x_o_x_o_x_o _x_o_______+_____x_o_x_o_x_o_________|26.65%|72.03 %
1.7550|~765O|____________________o_x_o_x_o_x_o_x_o _x_o_________+___x_o___o_x_o_________|28.48%|67.73 %
1.7100|~81OO|____________________o_x_o_x_o_x_o_x_o ___o_____x___x_+_x_____o___o_________|30.32%|63.43 %
1.6650|~855O|____________________o_x_o___o_x_o_x__ ___o_x___x_o_x_o_x_________o_x___x___|32.15%|59.13 %
1.6200|~9OOO|____________________o_x_____o_x_o____ ___o_x_o_x_o_x_o_x_________o_x_o_x_o_|33.99%|54.83 %
1.5750|~945O|____________________o_x_____o_x______ ___o_x_o_x_o___o_x_______+_o_x_o_x_o_|35.82%|50.53 %
1.5300|~99OO|____________________o_x_____o________ ___o_x_o_______o_x_____+___o___o_x_o_|37.65%|46.23 %
1.4850|~1O35|____________________o_x______________ ___o_x_________o_x___+_________o_x_o_|39.49%|41.93 %
1.4400|~1O8O|____________________o_x______________ _+_o___________o_x_+___________o_x_o_|41.32%|37.63 %
1.3950|~1125|____________________o_x_____________+ _______________o_+_____________o_+___|43.15%|33.33 %
1.3500|~117O|____________________o_x___________+__ _______________+_______________+_____|44.99%|29.03 %
1.3050|~1215|____________________o_x_________+____ _____________________________________|46.82%|24.73 %
1.2600|~126O|____________________o_x_______+______ _____________________________________|48.66%|20.42 %
1.2150|~13O5|____________________o_x_____+________ _____________________________________|50.49%|16.12 %
1.1700|~135O|____________________o_x___+__________ _____________________________________|52.32%|11.82 %
1.1250|~1395|____________________o_x_+____________ _____________________________________|54.16%|7.52%
1.0800|~144O|____________________o_+______________ _____________________________________|55.99%|3.22%
1.0350|~1485|____________________+________________ _____________________________________|57.82%|-1.08%
Column|||||||3_5_3_8_5_5_3_6_1_3_1_1_5_4_7_1_8_5_3 _6_1_5_3_4_3_3_7_1_3_4_5_9_1_3_6_6_5_|
Count||||||||________________5___9_8_______O______ ___2_____________1_________3_________|


BJF-Trading-Group_Excel_Chart

[MDunleavy]

As expected, Cable moved up in the Asian and the European sessions today to touch a high of 1.5968. The pair honoured the Resistance at 1.5970 (61.8% retracement of the fall from 1.7042 (Aug-09) to 1.4227 (May-09)) and is currently trading lower. We may see the markets go down towards 1.5900-1.5700, before another rally beyond 1.60 figure in the coming days.

"P&F GBPUSD1 Box Size 5X3 or(0.09%) CLOSE
Data 1.5965 - 1.5862 ~ 0 Month ~ 0.53 Day
Database 768 records 1.59201 (Last Close)
2010-08-03 02~34
2010-08-03 15~24 (GMT+01:00) Paris
MDunleavy chart"

1.5965|~5||||______________________________|0%|0.6 5%
1.5960|~1O|||______________x___x_______+___|0.03%| 0.62%
1.5955|~15|||__________x___x_o_x_o_____x_+_|0.06%| 0.59%
1.5950|~2O|||__________x_o_x_o_x_o_____x_o_|0.09%| 0.55%
1.5945|~25|||__________x_o_x_o_x_o_____x_o_|0.13%| 0.52%
1.5940|~3O|||__________x_o_x_o_x_o_x___x_o_|0.16%| 0.49%
1.5935|~35|||__________x_o___o_x_o_x_o_x_o_|0.19%| 0.46%
1.5930|~4O|||__________x_____o_x_o_x_o_x_o_|0.22%| 0.43%
1.5925|~45|||______x___x_____o_x_o___o___o_|0.25%| 0.4%
1.5920|~5O|||______x_o_x_____o_x_______+_o_|0.28%| 0.37%
1.5915|~55|||______x_o_x_____o_x_____+___o_|0.31%| 0.33%
1.5910|~6O|||______x_o_x_____o_x___+_____+_|0.34%| 0.3%
1.5905|~65|||______x_o_x_____o_x_+_________|0.38%| 0.27%
1.5900|~7O|||______x_o_x_____o_+___________|0.41%| 0.24%
1.5895|~75|||______x_o_______+_____________|0.44%| 0.21%
1.5890|~8O|||______x_______+_______________|0.47%| 0.18%
1.5885|~85|||o_____x_____+_________________|0.5%|0 .15%
1.5880|~9O|||o_x___x___+___________________|0.53%| 0.11%
1.5875|~95|||o_x_o_x_+_____________________|0.56%| 0.08%
1.5870|~1OO||o_x_o_x_______________________|0.6%|0 .05%
1.5865|~1O5||o_x_o_________________________|0.63%| 0.02%
1.5860|~11O||o_+___________________________|0.66%|-0.01%
Column|~115||6_4_3_1_6_1_4_5_1_1_7_3_3_6_8_|
Count|~12O|||______2___2_____2_2___________|


Excel Chart. Full size attached.

[MDunleavy]

GBP/USD
It is more likely to go down to around 1.6150 or 1.6100, and after that, it might have potentially to go up to around 1.6200 - 1.6400

Trade Idea: GBP/USD- Buy (Stop or Limit) at 1.6020; Target: 1.6440 ; Stop: 1.5900.

"P&F GBPUSD10080 Box Size 250X5 or(7.21%) HI/LO
Data 2.1161 - 1.3503 ~ 246.67 Month ~ 7252 Day
Database 1037 records 1.61809 (Last Close)
1990-12-23 00~00
2010-10-31 00~00 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"

2.1250|~25O||______________________________+______ ___|-0.42%|57.37%
2.1000|~5OO||______________________________x_+____ ___|0.76%|55.52%
2.0750|~75O||______________________________x_o_+__ ___|1.94%|53.67%
2.0500|~1OOO|______________________________x_o___+ ___|3.12%|51.82%
2.0250|~125O|______+_______________________x_o____ _+_|4.31%|49.97%
2.0000|~15OO|______x_+_____________________x_o____ ___|5.49%|48.12%
1.9750|~175O|______x_o_+___________________x_o____ ___|6.67%|46.26%
1.9500|~2OOO|o_____x_o___+_____________x___x_o____ ___|7.85%|44.41%
1.9250|~225O|o_____x_o_____+___________x_o_x_o____ ___|9.03%|42.56%
1.9000|~25OO|o_____x_o_______+_____x___x_o_x_o____ ___|10.21%|40.71%
1.8750|~275O|o_x___x_o_________+___x_o_x_o_x_o____ ___|11.39%|38.86%
1.8500|~3OOO|o_x_o_x_o___________+_x_o_x_o_x_o____ ___|12.58%|37.01%
1.8250|~325O|o_x_o_x_o_____________x_o_x_o_x_o____ ___|13.76%|35.16%
1.8000|~35OO|o_x_o_x_o_____________x_o_x_o_x_o____ ___|14.94%|33.3%
1.7750|~375O|o_x_o_x_o_____________x_o_x_o_x_o____ ___|16.12%|31.45%
1.7500|~4OOO|o_x_o_x_o_____________x_o___o_x_o____ ___|17.3%|29.6%
1.7250|~425O|o_x_o_x_o_____x_______x_____o___o____ ___|18.48%|27.75%
1.7000|~45OO|o_x_o___o_____x_o_____x_________o_x__ ___|19.66%|25.9%
1.6750|~475O|o_x_____o_____x_o_x___x_________o_x_o ___|20.84%|24.05%
1.6500|~5OOO|o_x_____o_x___x_o_x_o_x_________o_x_o ___|22.03%|22.2%
1.6250|~525O|o_x_____o_x_o_x_o_x_o_x_________o_x_o _x_|23.21%|20.34%
1.6000|~55OO|o_______o_x_o_x_o_x_o_x_________o_x_o _x_|24.39%|18.49%
1.5750|~575O|________o_x_o_x_o_x_o_x_________o_x_o _x_|25.57%|16.64%
1.5500|~6OOO|________o_x_o_x_o___o_x_________o_x_o _x_|26.75%|14.79%
1.5250|~625O|________o_x_o_x___+_o_x_________o_x_o _x_|27.93%|12.94%
1.5000|~65OO|________o_x_o___+___o_x_________o_x_o _x_|29.11%|11.09%
1.4750|~675O|________o_x___+_____o_x_______+_o_x_o _x_|30.3%|9.23%
1.4500|~7OOO|________o_x_+_______o_x_____+___o_x_o _x_|31.48%|7.38%
1.4250|~725O|________o_+_________o_x___+_____o_x_o _+_|32.66%|5.53%
1.4000|~75OO|________+___________o_x_+_______o_x_+ ___|33.84%|3.68%
1.3750|~775O|____________________o_+_________o_+__ ___|35.02%|1.83%
1.3500|~8OOO|____________________+___________+____ ___|36.2%|-0.02%
Column|||||||1_1_7_1_2_9_6_9_7_5_1_2_6_8_9_1_2_1_1 _8_|
Count||||||||5_1___2_3___________2_1_______5_9_3_1 ___|



BJF Trading Group. Excel Chart. Full size attached.