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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

AUDUSD Ascending Channel (Feb 8, 2016)
Monday, 08 February 2016 08:06 UTC

AUDUSD has been trending higher lately, moving inside an ascending channel on its 1-hour time frame. Price is currently testing support at the .7100 major psychological level and might be due for a bounce to the top. The 100 SMA is above the...

USDCAD Weekly Analysis - February 7, 2016
Sunday, 07 February 2016 05:48 UTC

USDCAD remains in long term uptrend from 0.9406 (Jul 26, 2011 low), the fall from 1.4689 could be treated as consolidation of the uptrend. Range trading between 1.3400 and 1.4689 would likely be seen over the next several weeks.

USDJPY Weekly Analysis - February 7, 2016
Sunday, 07 February 2016 05:48 UTC

USDJPY is facing 115.97 support, a breakdown below this level will indicate that the long term uptrend from 75.57 (Oct 31, 2011 low) had completed at 125.85 (Jun 5, 2015 high) already, then next target would be at 100.00 area. On the upside, as...

AUDUSD Weekly Analysis - February 7, 2016
Sunday, 07 February 2016 05:47 UTC

AUDUSD's bounce from 0.6826 extended to as high as 0.7242. Further rise to test 0.7439 resistance is possible next week. However, as long as 0.7439 resistance holds, the price action from 0.6907 could be treated as consolidation of the long term...

GBPUSD Weekly Analysis - February 7, 2016
Sunday, 07 February 2016 05:47 UTC

GBPUSD's bounce from 1.4080 extended to as high as 1.4591. As long as 1.4600 resistance holds, the bounce could be treated as consolidation of the downtrend from 1.5929 (Jun 18, 2015 high), another fall towards 1.3700 could be expected after...

EURUSD Weekly Analysis - February 7, 2016
Sunday, 07 February 2016 05:45 UTC

After consolidation, EURUSD continued its upward movement from 1.0517, and the rise extended to as high as 1.1248. Further rise could be expected, and next target would be at 1.2000 area. Support is at 1.0700, only break below this level could...

Forex Signals

Sell NZD/CHF @ 0.65552 By Signal Factory
Monday, 08 February 2016 18:15 UTC

Sell NZD/CHF @ 0.65552 By Signal Factory | SL:0.65952 | TP:0.64752 | 2016.02.08 18:13...

Sell CAD/CHF @ 0.71154 By Signal Factory
Monday, 08 February 2016 17:30 UTC

Sell CAD/CHF @ 0.71154 By Signal Factory | SL:0.71554 | TP:0.70354 | 2016.02.08 17:20...

Buy USD/CAD @ 1.39047 By Signal Factory
Monday, 08 February 2016 17:30 UTC

Buy USD/CAD @ 1.39047 By Signal Factory | SL:1.38647 | TP:1.39847 | 2016.02.08 17:19...

Sell AUD/CHF @ 0.70268 By Signal Factory
Monday, 08 February 2016 17:15 UTC

Sell AUD/CHF @ 0.70268 By Signal Factory | SL:0.70668 | TP:0.69468 | 2016.02.08 17:02...

Close(SL) Sell AUD/CAD @ 0.98930 By Signal Factory
Monday, 08 February 2016 16:30 UTC

Close(SL) Sell AUD/CAD @ 0.98930 By Signal Factory | Loss: -40 pips | 2016.02.08 16:21...

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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