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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

USDCHF Retracement Setup (August 22, 2014)
Friday, 22 August 2014 09:15 UTC

USDCHF has recently broken above strong resistance level at the .9100 major psychological mark. Price has rallied close to the .9150 area before retreating, possibly to make a retest of the broken resistance before heading higher. Stochastic is...

USDCHF Long-Term Reversal (Aug 21, 2014)
Thursday, 21 August 2014 09:33 UTC

USDCHF looks poised for more upside, as the pair is breaking above an area of interest and neckline of a reversal pattern on its daily time frame. Stochastic is still moving up, indicating buying momentum. As you can see, price appears to have...

USDJPY Ascending Trend Channel (Aug 20, 2014)
Wednesday, 20 August 2014 11:30 UTC

USDJPY has been moving inside a rising channel on its 4-hour forex time frame, with price gearing up to test the top of the range around the 103.50 minor psychological resistance. Stochastic is already in the overbought zone, indicating that the...

GBP/USD Forecast August 20, 2014, Technical Analysis
Wednesday, 20 August 2014 05:14 UTC

The GBP/USD pair fell hard during the course of the day on Tuesday as CPI numbers out of the United Kingdom came out much less strong than anticipated. Because of this, the British pound loss strength and with that we ended up seeing this pair...

EUR/USD Forecast August 20, 2014, Technical Analysis
Wednesday, 20 August 2014 05:14 UTC

The EUR/USD pair fell hard during the course of the day on Tuesday, but did not break down below the 1.33 handle, an area that we need to see violated to the downside in order to start selling. At that point in time, we would be aiming for the 1.30...

AUD/USD Forecast August 20, 2014, Technical Analysis
Wednesday, 20 August 2014 05:13 UTC

The AUD/USD pair initially went higher during the course of the day on Tuesday, but ended up falling in forming a relatively negative candle as we pressed against the 0.93 level. We think that the market will probably head back down towards the...

Forex Signals

Close(TP) Buy EUR/USD @ 1.32900 By Signal Factory
Friday, 22 August 2014 06:00 UTC

Close(TP) Buy EUR/USD @ 1.32900 By Signal Factory | Profit: +44 pips | 2014.08.22 08:47...

Close(SL) Buy GBP/CHF @ 1.51174 By Signal Factory
Thursday, 21 August 2014 15:30 UTC

Close(SL) Buy GBP/CHF @ 1.51174 By Signal Factory | Loss: -40 pips | 2014.08.21 15:19...

Sell GBP/USD @ 1.65993 By Signal Factory
Thursday, 21 August 2014 15:15 UTC

Sell GBP/USD @ 1.65993 By Signal Factory | SL:1.66393 | TP:1.65193 | 2014.08.21 15:05...

Close(SL) Buy GBP/NZD @ 1.97502 By Signal Factory
Thursday, 21 August 2014 15:00 UTC

Close(SL) Buy GBP/NZD @ 1.97502 By Signal Factory | Loss: -40 pips | 2014.08.21 14:51...

Close(TP) Buy GBP/USD @ 1.65990 By Signal Factory
Thursday, 21 August 2014 15:00 UTC

Close(TP) Buy GBP/USD @ 1.65990 By Signal Factory | Profit: +30 pips | 2014.08.21 17:56...

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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