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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

The Top 5 Forex Developments 11/24/14 through 11/28/14 – Paxforex
Friday, 28 November 2014 14:15 UTC

Here are the Top 5 Forex Developments for the trading week between 11/24/14 through 11/28/14: Number One: UK GDP The UK economy continued to expand at a strong pace. The reported annualized growth rate of 3.0% has matched economists’ expectations...

The Top 5 Forex Developments 11/24/14 through 11/28/14 – Paxforex
Friday, 28 November 2014 14:15 UTC

Here are the Top 5 Forex Developments for the trading week between 11/24/14 through 11/28/14: Number One: UK GDP The UK economy continued to expand at a strong pace. The reported annualized growth rate of 3.0% has matched economists’ expectations...

The Top 5 Forex Developments 11/24/14 through 11/28/14 – Paxforex
Friday, 28 November 2014 14:15 UTC

Here are the Top 5 Forex Developments for the trading week between 11/24/14 through 11/28/14: Number One: UK GDP The UK economy continued to expand at a strong pace. The reported annualized growth rate of 3.0% has matched economists’ expectations...

USDJPY Triangle Breakout (Nov 28, 2014)
Friday, 28 November 2014 10:55 UTC

USDJPY showed more momentum as it broke above the descending triangle resistance in today’s Asian trading session. This could be a sign that the pair is in for at least 150 pips in gains, which is the same height as the chart pattern. Stochastic...

AUDUSD Descending Trend Line (Nov 27, 2014)
Thursday, 27 November 2014 04:00 UTC

AUDUSD might be in for another major retracement, as price could make its way up to the falling trend line connecting the latest highs of price action. The pair previously broke through support around the .8700-.8800 major psychological mark and...

USD/JPY Forecast November 26, 2014, Technical Analysis
Wednesday, 26 November 2014 05:05 UTC

The USD/JPY pair initially tried to rally during the session on Tuesday, but as you can see continue to simply go sideways. The marketplace will probably do very little over the next 24 hours, as the Americans had off towards their Thanksgiving...

Forex Signals

Buy NZD/JPY @ 93.004 By Signal Factory
Friday, 28 November 2014 21:45 UTC

Buy NZD/JPY @ 93.004 By Signal Factory | SL:92.604 | TP:93.804 | 2014.11.28 21:33...

Close Sell USD/CHF @ 0.96551 By Signal Factory
Friday, 28 November 2014 21:00 UTC

Close Sell USD/CHF @ 0.96551 By Signal Factory | Profit: +13 pips | 2014.11.28 20:59...

Sell EUR/NZD @ 1.58664 By Signal Factory
Friday, 28 November 2014 20:30 UTC

Sell EUR/NZD @ 1.58664 By Signal Factory | SL:1.59064 | TP:1.57864 | 2014.11.28 20:18...

Sell CAD/CHF @ 0.84497 By Signal Factory
Friday, 28 November 2014 20:00 UTC

Sell CAD/CHF @ 0.84497 By Signal Factory | SL:0.84897 | TP:0.83697 | 2014.11.28 19:48...

Sell EUR/AUD @ 1.46246 By Signal Factory
Friday, 28 November 2014 19:00 UTC

Sell EUR/AUD @ 1.46246 By Signal Factory | SL:1.46646 | TP:1.45446 | 2014.11.28 18:47...

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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