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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

EURCHF Breakout Correction (July 30, 2015)
Thursday, 30 July 2015 07:37 UTC

EURCHF is pulling back from its strong upside break past the symmetrical triangle resistance on the 4-hour chart and may be due for a retest of the 1.0500 major psychological support. This lines up with the 61.8% Fibonacci retracement level and...

USD/JPY Forecast July 29, 2015, Technical Analysis
Wednesday, 29 July 2015 11:06 UTC

The USD/JPY pair tried to rally during the course of the session on Tuesday, but pullback as the market continues to chop around in general. Nonetheless, we think that this market does go higher given enough time, breaking above the 125 level to...

USD/CAD Forecast July 29, 2015, Technical Analysis
Wednesday, 29 July 2015 11:05 UTC

The USD/CAD pair broke down during the course of the session on Tuesday, but still remains within an area of massive support, extending all the way down to the 1.28 handle. With this, we are buyers on a supportive candle, but we do not have that...

GBP/USD Forecast July 29, 2015, Technical Analysis
Wednesday, 29 July 2015 11:04 UTC

The GBP/USD pair initially fell during the session on Tuesday, but found support near the 1.55 level to turn things back around and climbed higher. We believe that this market is going to continue to go a little bit higher from here, probably...

EUR/USD Forecast July 29, 2015, Technical Analysis
Wednesday, 29 July 2015 11:03 UTC

The EUR/USD pair initially fell during the day on Tuesday, but found the 1.10 level to be supportive enough to turn the market back around. By doing so, it shows that the 1.10 level continues to have a significant influence on this market, but is what we...

AUD/USD Forecast July 29, 2015, Technical Analysis
Wednesday, 29 July 2015 11:02 UTC

The AUD/USD pair broke higher during the course of the day on Tuesday, but still has plenty of noise just above, not to mention the fact that we have a ceiling at the 0.75 level at the moment. We have no interest in buying this pair, and we...

Forex Signals

Buy EUR/NZD @ 1.65444 By Signal Factory
Thursday, 30 July 2015 22:45 UTC

Buy EUR/NZD @ 1.65444 By Signal Factory | SL:1.65044 | TP:1.66244 | 2015.07.30 22:34...

Sell NZD/USD @ 0.66114 By Signal Factory
Thursday, 30 July 2015 21:45 UTC

Sell NZD/USD @ 0.66114 By Signal Factory | SL:0.66514 | TP:0.65314 | 2015.07.30 21:44...

Sell NZD/JPY @ 82.123 By Signal Factory
Thursday, 30 July 2015 21:45 UTC

Sell NZD/JPY @ 82.123 By Signal Factory | SL:82.523 | TP:81.323 | 2015.07.30 21:34...

Buy USD/CAD @ 1.30021 By Signal Factory
Thursday, 30 July 2015 21:00 UTC

Buy USD/CAD @ 1.30021 By Signal Factory | SL:1.29621 | TP:1.30821 | 2015.07.30 20:59...

Buy GBP/AUD @ 2.14061 By Signal Factory
Thursday, 30 July 2015 21:00 UTC

Buy GBP/AUD @ 2.14061 By Signal Factory | SL:2.13661 | TP:2.14861 | 2015.07.30 20:59...

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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