GBPUSD: Bullish, Extends Gains.

Discussion in 'Technical Analysis' started by FXTechstrategy Team, Sep 12, 2012.

  1. GBPUSD: With bullish offensive seen above the 1.6000/50 levels, the risk is for GBP to recapture the1.6112 level. Price hesitation may occur here and then turn the pair back lower but if it breaks, expect further upside to shape up towards the 1.6180 level, its May 10’2012 high. Further out, resistance resides at 1.6300 level, its April’2012 high. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, support comes in at the 1.6000/1.5909 levels. A reversal of roles as support is likely to occur here and turn the pair higher. However, if this fails, the 1.5774/78 level will be aimed at. Below here if seen could see the pair return to the 1.5457 level and then the 1.5391 level. On the whole, GBP faces an immediate upside risk into the new week.

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  2. Coleen

    Coleen Banned

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    GBP/USD 09.28.2012

    Today we can see that the price has stroke downstream strong support line 1.6235. It says about that after slight changing the price is going to go to the rate downstream, after which it will possibly to go down to the rate 1.6113.
     
  3. Coleen

    Coleen Banned

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    Bullish forecast GBP/USD 09.28.2012

    Honestly, you can never look at price movement only in one direction.
    So, if the price wears down the resistance level in an upward direction today
    then we should look again at the forecast and look to long positions. The immediate object of such movement will be level 1.6296, and the price will probably continue to go up to the level 1.6357.
     
  4. ddukic

    ddukic Trader

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    GBP/USD Week 40 - Review and Analysis

    GBP/USD Week 40 - Review and Analysis

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    GBP/USD

    COMMENTS: The Pound created a “double top” set up and stood there “hanging”. Many times, Monday morning in Europe is a quiet morning. The traders wait for their USA colleagues to animate the scenery. So, we will see what will happen after the opening of the USA trading. In the meantime, please observe the tandem horizontal evolution of the two SMAs signaling the parity of the average closing price for the last 50 weeks (almost one year) with the average closing price of the last 200 weeks (almost four years) . Inevitably, the tandem of these two SMAs constitutes a strong level.

    SUGGESTIONS: For as long as the parity remains above, the parity will move upwards. Don’t forget that there is a kind of triangle being formed since 2009 signaling an eventual consolidation at these levels, an issue that may force this parity to explode at a given time in the near future. As the swings become shorter and shorter the possibility of an “explosion” increases. So, I I would stay out of this pair until the parity decide to come to terms with the two SMAs. Anything before that must be handled in charts of lesser time frame and thus constitute positions that will last short times.
     
  5. Coleen

    Coleen Banned

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    Thank you for your analysis. Do you usually trade in GBP/USD? What do you think of this currency pair?
     
  6. ddukic

    ddukic Trader

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    GBP/USD 07/11/2012

    GBP/USD 07/11/2012

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    GBP/USD 4HOURS CHART

    SUGGESTIONS: Mr. Barak Obama reversed this parity too. The Dollar gets weaker these first trading hours after the elections. We will wait to see during the forthcoming hours and days more concrete signs regarding the evolution of the various parities against the USDollar.

    Stay long and increase your long exposure above the D1 red trend line.


    In case the two SMAs being right in front of the parity’s path act as strong resistance levels, either, you drastically reduce your exposures, or, you close your positions.

    This is exactly where the “Bears” enter the scene saying: “….RRRrrrrrrr !!” and open short positions. My friends, Bears, don’t forget the stop loss level a little higher than the D1 trend line.

    Ok Guys, Bears and Bulls, go get them !!
     
  7. ddukic

    ddukic Trader

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    GBP/USD 08/11/2012 - 4h Chart Analysis

    GBP/USD 08/11/2012 - 4h Chart Analysis

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    GBP/USD 4 HOURS CHART

    SUGGESTIONS: Here too, the up move of yesterday’s trading session was absorbed and we returned to the U3 trend line, waiting for “news”.

    Obviously, the two SMAs are still above the parity and influence negatively its evolution.

    So, the “bears” keep their short positions opened. Stop loss the crossing from below of the D1 trend line.

    The “Bulls” must stay cool.
     
  8. badrus050

    badrus050 Trader

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    GBPUSD till now still sideways near that pivot line (near price 1.5923). Then, this pair can more nice up to bulls and good to be take buy if truly then 61.8 fibo (1.5946) can be break by buyer. On other hand if the 38.2 fib 1.5900 (bellow price now) can be break by seller that's can be trigger for bearish, I see.
     
  9. Coleen

    Coleen Banned

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    GBPUSD:
    As to this pair my I think it is better to put an order for sale and target of bearish movement will be 1.49120.
     
  10. Coleen

    Coleen Banned

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    GBPUSD
    I recommend opening short position if the price breaks the level 1.4862 and the target of bearish movement will be 1.4775.
     

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