GBPUSD: Resumes Broader Weakness.

[FXTechstrategy Team]

GBPUSD: With GBP resuming its broader downside weakness, it looks to decline further towards the 1.4900 level. We expect this level to hold if tested and then turn the pair higher. Further down, support comes in at the 1.4800 level followed by the 1.4700 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance stands at the 1.5154 level followed by the 1.5198 level, its Mar 05’13 higher. Further out, resistance lies at the 1.5400 level and then the 1.5500 level. On the whole, GBP continues to retain its broader downside bias despite recovery.

 

[autotrader1]

GBP/USD WEEKLY as of Monday, 11 March, 2013
The present wave patterns are:
fast amplitude (8%): bullish wave 2
Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern!
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.60 is decreasing. The Relative Strength Index is at 24.55 in the oversold territory. The Relative Momentum Index is at 26.15 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.06, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 0.00. This value is in the oversold territory.

GBP/USD DAILY as of Monday, 11 March, 2013
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.58 is decreasing. The Relative Strength Index is at 26.60 in the oversold territory. The Relative Momentum Index is at 7.32 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.04, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 55.01. This value is in the neutral territory.
Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern! It should be used with other indicators.

 

[candle7779]

GBPUSD
BUY
If the price breaks through the level 1.52603 bullish movement will start. Targets of the bullish movement: 1.53382, 1.54234.
SELL
If the price breaks through the level 151727 bearish movement will start. Targets of the bearish movement: 1.50802, 1.49974.

 

[candle7779]

GBPUSD:
This is forecast on today for this pair.
I would rather tell that it is better to open a long position and TP would be 1.51201 and stop loss I set on the 1.51005 level.

 

[candle7779]

GBPUSD:
BUY
If the price breaks through the level 1.51471 bullish movement will start. Targets of the movement: 1.52088, 1.52643.
SELL
If the price breaks through the level 1.50896 bearish movement will start. Targets of the bearish movement: 1.50361, 1.49744.

 

[candle7779]

GBPUSD:
As to this pair for today I can say It is better to open an order for Selling and if the price will continue bearish movement than take profit would be 1.51504 in case the price began bullish movement than stop loss will be 1.52151

 

[autotrader1]

GBP/USD DAILY as of Sunday, 31 March, 2013
The present wave patterns are:
fast amplitude (8%): bullish wave 2
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.56 is decreasing. The Relative Strength Index is at 50.43 in the neutral territory. The Relative Momentum Index is at 38.28 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.01, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 51.87. This value is in the neutral territory.
Stochastic trigger a sell signal last Thursday.

 

[candle7779]

I think it will be uptrend and propose to set an order to buy with take profit 1.51775 in case the downtrend movement stop loss will be 1.51235. Good luck.

 

[candle7779]

GBPUSD:
For cable I suppose today is better to BUY if the price breaks the level of 1.52315. Aims of this bullish movement to my mind will be 1.52519.