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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 September 2, 2014, Technical Analysis
Thursday, 02 October 2014 07:00 UTC

The USD/JPY pair fell from the 110 level during the session on Wednesday, proving that we are not quite ready to continue the next leg higher. However, with the nonfarm payroll numbers coming out on Friday, we believe that this market could very well...

USD/CAD Forecast September 2, 2014, Technical Analysis
Thursday, 02 October 2014 06:59 UTC

The USD/CAD pair fell during the course of the day on Wednesday, breaking back below the 1.12 level. However, the 1.1150 level is the epicenter of a significant amount of support as far as we can see on this chart, so we feel that the downside is...

GBP/USD Forecast October 2, 2014, Technical Analysis
Thursday, 02 October 2014 06:58 UTC

The GBP/USD pair tried to rally during the course of the day on Wednesday, but failed at the 1.63 region. By doing so, we ended up forming a shooting star, and that of course is a fairly negative sign. We believe that this market will continue to go...

EUR/USD Forecast October 2, 2014, Technical Analysis
Thursday, 02 October 2014 06:58 UTC

The EUR/USD pair went back and forth during the course of the day on Wednesday, essentially hugging the 1.62 level. This isn’t a big surprise though, as the ECB has an interest rate decision coming out later today. With that, it will be the...

AUD/USD Forecast October 2, 2014, Technical Analysis
Thursday, 02 October 2014 06:57 UTC

The AUD/USD pair rose during the course of the day on Wednesday, showing that the market is ready to continue consolidating in this area. We see the 0.88 level above as being resistive, so we feel that any short-term rallies will more than likely...

USDCAD Daily Analysis - October 2, 2014
Thursday, 02 October 2014 04:04 UTC

USDCAD broke below 1.1130 support, indicating that the uptrend from 1.0886 had completed at 1.1222 already. Deeper decline could be expected, and the target would be at 1.0980 area. Resistance is at 1.1145, only break above this level could...

Forex Signals

Sell EUR/AUD @ 1.44065 By Signal Factory
Thursday, 02 October 2014 13:30 UTC

Sell EUR/AUD @ 1.44065 By Signal Factory | SL:1.44465 | TP:1.43265 | 2014.10.02 13:23...

Sell USD/CAD @ 1.11553 By Signal Factory
Thursday, 02 October 2014 13:00 UTC

Sell USD/CAD @ 1.11553 By Signal Factory | SL:1.11953 | TP:1.10753 | 2014.10.02 12:51...

Close(SL) Sell AUD/CAD @ 0.97858 By Signal Factory
Thursday, 02 October 2014 12:30 UTC

Close(SL) Sell AUD/CAD @ 0.97858 By Signal Factory | Loss: -40 pips | 2014.10.02 12:28...

Close(TP) Sell GBP/USD @ 1.61300 By Signal Factory
Thursday, 02 October 2014 12:00 UTC

Close(TP) Sell GBP/USD @ 1.61300 By Signal Factory | Profit: +78 pips | 2014.10.02...

Close(TP) Sell GBP/USD @ 1.61464 By Signal Factory
Thursday, 02 October 2014 10:30 UTC

Close(TP) Sell GBP/USD @ 1.61464 By Signal Factory | Profit: +80 pips | 2014.10.02...

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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