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GBPUSD Analysis - Jun 7, 2008

GBPUSD rebounded sharply from 1.9461. The rise from 1.9461 could possibly be resumption of up trend. Further rise to test 2.0029 resistance is expected in a couple of weeks. Key support is located at 1.9363, only break down below this level will signal resumption of long term down trend.

For long term analysis, the pair formed a long term cycle bottom at 1.9337 (Jan 22 low), the rise from 1.9363 could possibly be resumption of the long term up trend, and rebound to 2.0500 area to reach the next cycle top on weekly chart is now in favor.

gbpusd daily chart

Daily Forex Reports

USD/JPY Forecast April 17, 2014, Technical Analysis
Thursday, 17 April 2014 06:38 UTC

The USD/JPY pair broke above the 102 level during the session on Wednesday, signifying that we would more than likely continue to grind higher. With that, we are bullish of this market, and fully anticipate that it’s going to head to the 103...

USD/CAD Forecast April 17, 2014, Technical Analysis
Thursday, 17 April 2014 06:37 UTC

The USD/CAD pair initially fell during the session on Wednesday, but bounced enough to break above the 1.10 level. With that, the market looks like it’s ready to go higher, and quite frankly we do feel like this market will make a move towards a 1.12...

GBP/USD Forecast April 17, 2014, Technical Analysis
Thursday, 17 April 2014 06:37 UTC

The GBP/USD pair broke higher during the session on Wednesday, testing the 1.68 level yet again. That area has been resistive previously, and as a result we do not find it very difficult to imagine that the market could pull back from here....

EUR/USD Forecast April 17, 2014, Technical Analysis
Thursday, 17 April 2014 06:36 UTC

The EUR/USD pair rose during the session on Wednesday, using the 1.38 level as a springboard. However, we pulled back enough to form a shooting star, and it appears that the market is going to continue to meander in this general sanity. It does...

AUD/USD Forecast April 17, 2014, Technical Analysis
Thursday, 17 April 2014 06:36 UTC

The AUD/USD pair tried to rally during the session on Wednesday, but as you can see pulled back enough to form a shooting star. This shooting star suggests that the market is ready to continue falling, but quite frankly we see so much support in the...

USDCAD Daily Analysis - April 17, 2014
Thursday, 17 April 2014 01:36 UTC

USDCAD continued its upward movement from 1.0857 and the rise extended to as high as 1.1033. Further rise could be expected and the target would be at 1.1100 area. Support levels are at 1.0915, and 1.0857, only break below these levels could...

Forex Signals

Close(SL) Sell EUR/AUD @ 1.48002 By Signal Factory
Thursday, 17 April 2014 09:16 UTC

Close(SL) Sell EUR/AUD @ 1.48002 By Signal Factory | Loss: -39 pips | 2014.04.17 09:10...

Buy GBP/CHF @ 1.48001 By Signal Factory
Thursday, 17 April 2014 09:15 UTC

Buy GBP/CHF @ 1.48001 By Signal Factory | SL:1.47601 | TP:1.48801 | 2014.04.17 09:08...

Buy GBP/NZD @ 1.95009 By Signal Factory
Thursday, 17 April 2014 06:15 UTC

Buy GBP/NZD @ 1.95009 By Signal Factory | SL:1.94609 | TP:1.95809 | 2014.04.17 06:00...

Close(TP) Buy GBP/AUD @ 1.79921 By Signal Factory
Thursday, 17 April 2014 04:45 UTC

Close(TP) Buy GBP/AUD @ 1.79921 By Signal Factory | Profit: +80 pips | 2014.04.17 04:40...

Close(SL) Sell GBP/NZD @ 1.95397 By Signal Factory
Thursday, 17 April 2014 04:31 UTC

Close(SL) Sell GBP/NZD @ 1.95397 By Signal Factory | Loss: -40 pips | 2014.04.17 04:21...

Technical Analysis Articles

Tips on Choosing the Right Forex Broker
Wednesday, 29 January 2014 14:43 UTC

According to estimates, the average traded value per day in the forex market is to the tune of $4 trillion, making it the world’s largest financial market. Forex trading is a high-risk activity and investors are susceptible to windfall profits and...

The Two Types of Forex Trading Spreads
Tuesday, 17 December 2013 04:31 UTC

A spread is the difference between the price a trader pays and the price offered by a broker. It is expressed in pip/s. For instance, a trader's price is 4.000 and a broker's offer is 3.500, the difference between them is .500. Thus, the spread is...

What are the political and economic factors associated with forex trading?
Thursday, 24 October 2013 12:32 UTC

For people seeking to engage in forex trading, whether by directly buying currencies or by spreadbetting via a company like IG, the array of political and economic indicators that can move the currency markets...

What's the best way to trade Martingale Forex Trading Strategies?
Monday, 07 October 2013 08:19 UTC

We are not advocating Martingale strategies. But rather, we respect the Martingale concept and believe it has its place in a trader's portfolio. The following tips seek to reduce the overall risk and increase the overall success for Martingale...

Know more about Forex Risk/Reward Ratio
Thursday, 12 September 2013 11:03 UTC

A forex trader will often encounter the term 'risk/reward ratio'. What does this tem actually mean? Would understanding this ratio bring a lot of profit to a trader?

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