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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

CADJPY Countertrend Setup (Oct 30, 2014)
Thursday, 30 October 2014 05:54 UTC

CADJPY is in a rising channel on its 1-hour time frame but is already nearing the top of the range. Resistance at the 97.50-98.00 area might hold and push the pair back to the bottom of the channel.   Stochastic is already in the oversold area,...

USD/JPY Forecast October 30, 2014, Technical Analysis
Thursday, 30 October 2014 05:32 UTC

The USD/JPY pair initially fell during the course of the day on Wednesday, but after a hearty statement by the Federal Reserve, this pair went higher and broke out to the upside. It now seems almost a sure thing that we are going to the 110 level,...

USD/CAD Forecast October 30, 2014, Technical Analysis
Thursday, 30 October 2014 05:31 UTC

The USD/CAD pair went higher during the session on Wednesday after the Federal Reserve released a more hawkish than anticipated statement. We broke back above the 1.12 level, but there is a significant amount of resistance just above that area so...

GBP/USD Forecast October 30, 2014, Technical Analysis
Thursday, 30 October 2014 05:30 UTC

The GBP/USD pair fell hard during the course of the day on Wednesday after the Federal Reserve released a fairly hawkish statement. However, the 1.60 level is significant support, so one has to wonder whether or not we will bounce from there. At...

EUR/USD Forecast October 30, 2014, Technical Analysis
Thursday, 30 October 2014 05:29 UTC

The EUR/USD pair initially tried to rally during the course of the day on Wednesday, but a stronger and more hawkish than anticipated statement coming out of the Federal Reserve of course sent this market lower as people buy the us dollar. We...

AUD/USD Forecast October 30, 2014, Technical Analysis
Thursday, 30 October 2014 05:29 UTC

The AUD/USD pair initially tried to break out during the session on Wednesday, but with the Federal Reserve stepping in and releasing a hawkish statement, the market broke back down below the 0.88 level during the day. Because of this, we believe...

Forex Signals

Close Buy USD/JPY @ 108.966 By Signal Factory
Thursday, 30 October 2014 15:30 UTC

Close Buy USD/JPY @ 108.966 By Signal Factory | Profit: +5 pips | 2014.10.30 15:24...

Sell CAD/JPY @ 97.395 By Signal Factory
Thursday, 30 October 2014 15:16 UTC

Sell CAD/JPY @ 97.395 By Signal Factory | SL:97.705 | TP:96.810 | 2014.10.30 15:02...

Sell EUR/JPY @ 137.464 By Signal Factory
Thursday, 30 October 2014 15:15 UTC

Sell EUR/JPY @ 137.464 By Signal Factory | SL:137.864 | TP:136.664 | 2014.10.30 15:05...

Sell CHF/JPY @ 114.050 By Signal Factory
Thursday, 30 October 2014 15:15 UTC

Sell CHF/JPY @ 114.050 By Signal Factory | SL:114.262 | TP:113.761 | 2014.10.30 15:00...

Close(SL) Sell AUD/JPY @ 96.084 By Signal Factory
Thursday, 30 October 2014 15:00 UTC

Close(SL) Sell AUD/JPY @ 96.084 By Signal Factory | Loss: -40 pips | 2014.10.30 14:58...

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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