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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

NZDUSD Descending Channel (May 27, 2015)
Friday, 27 May 2016 04:49 UTC

NZDUSD has been trending lower on the short-term charts, moving inside a descending channel on the 1-hour time frame. Price is currently testing the resistance and a drop towards support might be due. The top of the channel lines up with the...

USD/JPY Forecast May 26, 2016, Technical Analysis
Thursday, 26 May 2016 06:14 UTC

The USD/JPY pair went back and forth during the course of the day on Wednesday, as we continue to be attracted to the 110 handle. If we can break above the top of the shooting star from last week, the market very well could then go to the 112...

USD/CAD Forecast May 26, 2016, Technical Analysis
Thursday, 26 May 2016 06:13 UTC

The USD/CAD pair fell slightly during the day on Wednesday, as it looks like we are trying to roll over. However, we should have quite a bit of support at the 1.30 level, and of course would be buyers of supportive action in that region. On the...

GBP/USD Forecast May 26, 2016, Technical Analysis
Thursday, 26 May 2016 06:11 UTC

The GBP/USD pair rose during the day on Wednesday, as we tested the 1.47 handle. We did pullback slightly, but at the end of the day we think there is more than enough buying pressure underneath to continue to push this market higher. Once we...

EUR/USD Forecast May 26, 2016, Technical Analysis
Thursday, 26 May 2016 06:10 UTC

The EUR/USD pair rallied slightly during the course of the day on Wednesday, but at this point in time the pair certainly looks very negative. With this being the case, we are looking for shorter-term resistive candles to continue to start...

AUD/USD Forecast May 26, 2016, Technical Analysis
Thursday, 26 May 2016 06:09 UTC

The Australian dollar initially tried to rally during the day on Wednesday, but turned around back around to form a bit of a shooting star. It looks as if we are trying to bring ourselves lower, but the hammer from the previous session on Tuesday...

Forex Signals

Buy NZD/JPY @ 73.996 By Signal Factory
Friday, 27 May 2016 06:15 UTC

Buy NZD/JPY @ 73.996 By Signal Factory | SL:73.596 | TP:74.796 | 2016.05.27 06:12...

Close(SL) Sell NZD/JPY @ 74.271 By Signal Factory
Friday, 27 May 2016 01:15 UTC

Close(SL) Sell NZD/JPY @ 74.271 By Signal Factory | Loss: -40 pips | 2016.05.27 01:09...

Buy AUD/NZD @ 1.07109 By Signal Factory
Thursday, 26 May 2016 21:45 UTC

Buy AUD/NZD @ 1.07109 By Signal Factory | SL:1.06709 | TP:1.07909 | 2016.05.26 21:32...

Sell EUR/NZD @ 1.66161 By Signal Factory
Thursday, 26 May 2016 20:30 UTC

Sell EUR/NZD @ 1.66161 By Signal Factory | SL:1.66561 | TP:1.65361 | 2016.05.26 20:27...

Sell USD/CAD @ 1.29850 By Signal Factory
Thursday, 26 May 2016 19:15 UTC

Sell USD/CAD @ 1.29850 By Signal Factory | SL:1.30250 | TP:1.29050 | 2016.05.26 19:01...

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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