GBP/USD Daily Technical Analysis

[michael smith]

11/03/2013

Main scenario of currency pair movement​

The pair continues its movement within its corridor, Tenkan and Kijun lines are bound above the price, after breaking through the cloud the price has considerably decreased, for today the further movement in the descending trend is expected. One should sell the pair from the 1,6649 resistance level, set take profit at the 1,6611, 1,6564, 1,6545 support levels.

Alternative scenario of currency pair movement​

In case if the pair breaks through and gets fixed above the 1,6649 resistance level, the ascending movement till the following levels 1,6689, 1,6705 is possible.

LEVELS​

Resistance:1,6649;1,6689; 1,6705.

Support:1,6611; 1,6564; 1,6545.

 

[michael smith]

12.03.2014
Main scenario of currency pairmovement

The pair continues its movement in the side trend within the corridor, the further movement in the descending trend is being expected. One should sell the pair from the 1,6634 resistance level, set take profit at the 1,6609, 1,6564,1,6545 support levels.

Alternative scenario of currency pairmovement​

In case if the pair manages to break through and get fixed above the 1,6634 resistance level, then the further growth till the following resistance levels - 1,6670, 1,6690 is possible.

LEVELS​

Resistance: 1,6634; 1,6670; 1,6690
Support: 1,6609; 1,6564; 1,6545.

 

[ajpipsmaker]

The GBPUSD pair finally managed to climb higher. I was expecting the pair to climb above the 1.6660 level, but the bulls were seen aggressive, as they took the pair above the 1.6700 level. Now, there can be some pullback from the current levels, and then we can witness one more ride up in the pair. I think in the coming days we can see a re-test of the 1.6800 level. Remember, this is just my point of view, and I may be wrong here.

 

[michael smith]

14.03.14
Main scenario of currency pair movement​

The pair continues its side movement inits corridor, that was formed during the previous month, Tenkan and Kijun lines are bound above the price, the price has broken through the ascending cloud, the further descending movement is being forecast, however there is a strong 1,6609 support level on the way of the pair, that is to be the lower border of the corridor. One should sell the pair below the 1,6609 level, set take profit at the following support levels - 1,6583, 1,6543.

Alternative scenario of currency pair movement​

In case if the pair does not manage to get fixed below the 1,6609 support level, then there is a possibility of a bounce from the current level and further ascending movement till the 1,6644, 1,6689, 1,6716 resistance levels.

LEVELS​

Resistance: 1,6644; 1,6689; 1,6716.

Support: 1,6609; 1,6583; 1,6543.

 

[michael smith]

Remember, this is just my point of view, and I may be wrong here.

Don't be afraid to tell us your POV, Everyone can be wrong - It's a trading, no one sad that it's will be easy!) Thank you for your thoughts!

 

[michael smith]

18.03.2014​

Main scenario of currency pair movement​

The pair continues its side movement in the corridor, at the moment the price is moving within the descending cloud, the signal is questionable. In case if the pair breaks through the 1,6654 resistance level, then the ascending movement is being forecast, one should buy the pair above the current level, set take profit at the following resistance levels - 1,6672, 1,6715.

Alternative scenario of currency pair movement​

In case if the pair breaks through and gets fixed below the 1,6627 support level, then the further descending movement till the following support levels - 1,6610,1,6577 is possible.

LEVELS​

Resistance: 1,6654; 1,6672; 1,6715.
Support: 1,6627; 1,6610; 1,6577.

 

[sanjusharmaDHP]

The GBPUSD pair is feeling the heat in the short term. The pair is trading lower and closer towards the 1.6560 support level. A break below could take the pair lower, and create a bearish pressure. The impact of the risk sentiment has been huge in the pair, and it looks like the gains will be limited in the short term. Anyone looking forward to buying dips in the pair?

 

[michael smith]

01.01.14

GBP/USD is still trying to break through the 1.6685 resistance, which is 61.8% Fib retracement of February to March selloff between 1.6823-1.6467. In case if the pair breaks through this level, then the pair could try to reach March 12 high at 1.6718. However, the immediate support lies at 1.6644 level which marks the convergence of 200 4H-MA and Fib 50%, with a break here in order to open up the important support of 55 DMA at around 1.6570.

 

[michael smith]

Sorry. the date in the head of previous post is incorrect - It's must be 01.04.14​

02.04.14

Main scenario of currency pair movement​

The pair is being traded in the ascending trend, however the pair has broken through the ascending cloud and continues its movement along this cloud. As for today the further descending movement from the 1,6643 resistance level is being forecast. One should sell the pair below the 1,6643 resistance level,set take profit at the 1,6609, 1,6587 support levels.

Alternative scenario of currency pair movement​

In case if the pair manages to breakthrough and get fixed above the 1,6643 resistance level, then the ascending movement till the following resistance levels 1,6662,1,6682 is possible.

LEVELS​

Resistance: 1,6643; 1,6662; 1,6682.
Support: 1,6609; 1,6587.