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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

AUDCAD Reversal Pattern (Oct 22, 2014)
Wednesday, 22 October 2014 06:14 UTC

A short-term selloff might be in the cards for AUDCAD, as the pair created a double top pattern on its 1-hour time frame. Price has found resistance at the .9950 mark and is finding support at the neckline around .9850. A break below this support zone...

USD/CAD Forecast October 22, 2014, Technical Analysis
Wednesday, 22 October 2014 05:05 UTC

USD/CAD fell during the course of the session on Tuesday, testing the 1.12 level. This is an area that is an area we anticipated to see a significant amount of support at, and we most certainly did see that. We bounce slightly, but we believe that there...

USD/JPY Forecast October 22, 2014, Technical Analysis
Wednesday, 22 October 2014 05:04 UTC

The USD/JPY pair initially fell during the session on Tuesday, but found enough support below to turn things back around and form a little bit of a hammer. Because of that, we feel that this market will go higher and on a move above the 107 level...

GBP/USD Forecast October 22, 2014, Technical Analysis
Wednesday, 22 October 2014 05:02 UTC

The GBP/USD pair fell slightly during the session on Tuesday, showing that we are in fact going to have to fight our way higher. The weekly candle was a hammer, and although we have not broken the top of that, it does appear that the market will try...

EUR/USD Forecast October 22, 2014, Technical Analysis
Wednesday, 22 October 2014 05:01 UTC

The EUR/USD pair fell during the course of the day on Tuesday, showing the 1.28 level to be resistive yet again. The 1.28 level is the beginning of significant resistance, extending all the way to the 1.30 level as far as we can see. Because of...

AUD/USD Forecast October 22, 2014, Technical Analysis
Wednesday, 22 October 2014 05:00 UTC

The AUD/USD pair fell during the course of the day on Tuesday, showing the 0.88 level as being resistive. Because of this, we recognize that the sellers may step back in, and if we break down below the bottom of the candle for the session on...

Forex Signals

Close(SL) Buy CHF/JPY @ 112.387 By Signal Factory
Wednesday, 22 October 2014 08:46 UTC

Close(SL) Buy CHF/JPY @ 112.387 By Signal Factory | Loss: -40 pips | 2014.10.22 08:39...

Close(TP) Sell GBP/JPY @ 171.529 By Signal Factory
Wednesday, 22 October 2014 08:45 UTC

Close(TP) Sell GBP/JPY @ 171.529 By Signal Factory | Profit: +80 pips | 2014.10.22...

Close(SL) Buy GBP/CAD @ 1.80354 By Signal Factory
Wednesday, 22 October 2014 08:45 UTC

Close(SL) Buy GBP/CAD @ 1.80354 By Signal Factory | Loss: -42 pips | 2014.10.22 08:30...

Buy AUD/CHF @ 0.83376 By Signal Factory
Wednesday, 22 October 2014 06:46 UTC

Buy AUD/CHF @ 0.83376 By Signal Factory | SL:0.83158 | TP:0.83758 | 2014.10.22 06:38...

Buy GBP/CAD @ 1.80784 By Signal Factory
Wednesday, 22 October 2014 06:46 UTC

Buy GBP/CAD @ 1.80784 By Signal Factory | SL:1.80354 | TP:1.81760 | 2014.10.22 06:36...

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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