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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

USDJPY Descending Channel (July 6, 2015)
Monday, 06 July 2015 07:15 UTC

After the huge weekend gap, USDJPY was able to test support at the bottom of the channel near the 121.50 minor psychological level. Price could make its way back to the top to test the resistance near the 123.00 major psychological level....

USDCAD Weekly Analysis - July 5, 2015
Sunday, 05 July 2015 08:07 UTC

USDCAD broke above 1.2563 resistance, indicating that the uptrend from 1.1919 has resumed. Further rise to test 1.2835 resistance could be seen, a break of this level will signal resumption of the long term uptrend from 0.9632 (Sept 14, 2012 low),...

USDJPY Weekly Analysis - July 5, 2015
Sunday, 05 July 2015 08:06 UTC

USDJPY is in long term uptrend from 75.57 (Oct 31, 2011), the fall from 125.85 could be treated as consolidation of the uptrend. Range trading between 120.00 and 125.85 would likely be seen over the next several weeks. Support is at 120.00, as...

AUDUSD Weekly Analysis - July 5, 2015
Sunday, 05 July 2015 08:06 UTC

AUDUSD broke below 0.7532 support, indicating that the long term downtrend from 0.9504 (Jul 1, 2014 high) has resumed. Further decline could be seen after a minor consolidation, and next target would be at 0.7000 area. Resistance is at 0.7740,...

GBPUSD Weekly Analysis - July 5, 2015
Sunday, 05 July 2015 08:05 UTC

GBPUSD is facing 1.5550 support, a breakdown below this level will indicate that lengthier consolidation for the uptrend from 1.4565 is underway, then deeper decline to 1.5300 area could be seen. On the upside, as long as 1.5550 support holds, the...

EURUSD Weekly Analysis - July 5, 2015
Sunday, 05 July 2015 08:05 UTC

EURUSD continued its sideways movement in a range between 1.0819 and 1.1467. Key support is at 1.0819, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.0462, another rise towards...

Forex Signals

Close(SL) Buy CAD/JPY @ 96.824 By Signal Factory
Monday, 06 July 2015 17:30 UTC

Close(SL) Buy CAD/JPY @ 96.824 By Signal Factory | Loss: -40 pips | 2015.07.06 17:29...

Buy AUD/CHF @ 0.70863 By Signal Factory
Monday, 06 July 2015 17:30 UTC

Buy AUD/CHF @ 0.70863 By Signal Factory | SL:0.70463 | TP:0.71663 | 2015.07.06 17:29...

Sell USD/JPY @ 122.465 By Signal Factory
Monday, 06 July 2015 17:30 UTC

Sell USD/JPY @ 122.465 By Signal Factory | SL:122.865 | TP:121.665 | 2015.07.06 17:17...

Buy NZD/CHF @ 0.63144 By Signal Factory
Monday, 06 July 2015 16:00 UTC

Buy NZD/CHF @ 0.63144 By Signal Factory | SL:0.62744 | TP:0.63944 | 2015.07.06 15:50...

Close(SL) Sell GBP/USD @ 1.56113 By Signal Factory
Monday, 06 July 2015 15:00 UTC

Close(SL) Sell GBP/USD @ 1.56113 By Signal Factory | Loss: -40 pips | 2015.07.06 14:48...

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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