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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 July 29, 2016, Technical Analysis
Friday, 29 July 2016 06:03 UTC

The USD/JPY pair went back and forth during the course of the session on Thursday, as we continue to hang about the 105 level. With this, the market looks as it could continue to find a lot of interest in this area, and with that being the case it will...

USD/CAD Forecast July 29, 2016, Technical Analysis
Friday, 29 July 2016 06:03 UTC

The USD/CAD pair initially fell during the course of the day but turned right back around to favor the US dollar. With this, the market looks as if it is trying to bounce around and build up enough momentum to continue pushing this market towards...

GBP/USD Forecast July 29, 2016, Technical Analysis
Friday, 29 July 2016 06:02 UTC

The GBP/USD pair initially fell during the course of the session on Thursday, but as you can see we are still very much in consolidation. Because of this, I believe that the market will continue to go back and forth, offering buying and selling in a...

EUR/USD Forecast July 29, 2016, Technical Analysis
Friday, 29 July 2016 06:00 UTC

The EUR/USD pair rose slightly during the course of the session on Thursday, as we continue to show quite a bit of volatility. However, we are starting to show a bit of resistance just above, so I feel it’s only a matter of time before the market sells...

AUD/USD Forecast July 29, 2016, Technical Analysis
Friday, 29 July 2016 05:59 UTC

The AUD/USD pair rose initially during the course of the session on Thursday, but turned back around form a bit of a shooting star. We are sitting just above the 0.75 handle, and that’s an area that of course attract a lot of attention. I see a lot of...

GBPUSD Symmetrical Triangle (July 29, 2016)
Friday, 29 July 2016 04:26 UTC

GBPUSD has been forming higher lows and lower highs, creating a symmetrical triangle pattern on its 1-hour time frame. Price recently bounced off the triangle support and looks ready to make another test of resistance. The 100 SMA is below the...

Forex Signals

Close(TP) Buy NZD/CAD @ 0.94260 By Signal Factory
Friday, 29 July 2016 20:00 UTC

Close(TP) Buy NZD/CAD @ 0.94260 By Signal Factory | Profit: +80 pips | 2016.07.29 19:50...

Close(SL) Sell NZD/CHF @ 0.69992 By Signal Factory
Friday, 29 July 2016 18:00 UTC

Close(SL) Sell NZD/CHF @ 0.69992 By Signal Factory | Loss: -40 pips | 2016.07.29 17:54...

Buy EUR/GBP @ 0.84389 By Signal Factory
Friday, 29 July 2016 18:00 UTC

Buy EUR/GBP @ 0.84389 By Signal Factory | SL:0.83989 | TP:0.85189 | 2016.07.29 17:48...

Sell EUR/CHF @ 1.08200 By Signal Factory
Friday, 29 July 2016 17:30 UTC

Sell EUR/CHF @ 1.08200 By Signal Factory | SL:1.08600 | TP:1.07400 | 2016.07.29 17:22...

Close(TP) Buy GBP/USD @ 1.32579 By Signal Factory
Friday, 29 July 2016 15:00 UTC

Close(TP) Buy GBP/USD @ 1.32579 By Signal Factory | Profit: +80 pips | 2016.07.29 14:46...

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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