Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Forex Market Commentary By TitanFX
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="titanfx, post: 87683, member: 33464"] [b]GBPUSD – New Low Likely Below 1.5460[/b] [B]Key Highlights[/B] • British Pound dived Intraday against the US Dollar, as the rate hike expectation of the market was not aligned with the BOE members. • BOE meeting minutes revealed that only one member was in favor of a rate hike compared with the forecast of two. • UK GDP Estimate released by the National Institute of Economic and Social Research came in at 07%, unchanged from the last reading. [B]GBPUSD Technical Analysis[/B] The GBPUSD pair moved lower sharply recently after the release of the BOE meeting minutes, and traded below 1.5500 support area. It traded as low as 1.5466 where buyers appeared to defend more losses. There an expanding triangle pattern formed on the hourly chart, which helped in preventing more downsides. Currently, there is a small breakout pattern formed with a resistance around the 38.2% Fib retracement level of the last drop from the 1.5635 high to 1.5466 low. The most critical point to note is the fact that there is a bearish cross noted for the 100 and 200 simple moving averages, and the pair is well below it. So, the chances of the pair trading lower have increased over time, and sellers might remain in control for some time. [IMG]http://s4.postimg.org/7ef10mhn1/GBPUSD_08_07_2015.png[/IMG] On the upside, an immediate resistance is around the triangle trend line, followed by the 50% Fib level. Any further gains might push the pair towards the 100 and 200 SMA confluence area. ------------------------------------------ [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…