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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

USD/JPY Forecast July 29, 2014, Technical Analysis
Tuesday, 29 July 2014 06:34 UTC

The USD/JPY pair rose during the course of the day on Monday, but as you can see we are still struggling to get above the 102 level. Because of this, we feel that this market probably has the ability to go higher, but quite frankly we are more...

USD/CAD Forecast July 29, 2014, Technical Analysis
Tuesday, 29 July 2014 06:33 UTC

The USD/CAD pair initially tried to rally during the day on Monday, but as you can see fell back down towards the 1.08 handle. The level course has been supportive in the past, and now that we are broken above it, technical analysis dictates that...

GBP/USD Forecast July 29, 2014, Technical Analysis
Tuesday, 29 July 2014 06:31 UTC

The GBP/USD pair went back and forth during the day on Monday, but found the 1.70 level to be resistive enough to keep the market somewhat down. Because of this, we feel that the market will more than likely continue to struggle going higher, but if...

EUR/USD Forecast July 29, 2014, Technical Analysis
Tuesday, 29 July 2014 06:30 UTC

In the EUR/USD pair tried to rally during the course of the day on Monday, but as you can see gave back most of the gains. In the end, we ended up forming a shooting star which is a very bearish candle, and even more so when it comes at the bottom of...

AUD/USD Forecast July 29, 2014, Technical Analysis
Tuesday, 29 July 2014 06:28 UTC

The AUD/USD pair initially fell during the course of the day on Monday, but as you can see found enough support below to turn things back around and form a nice-looking hammer. This hammer of course suggests that the market is going to go higher,...

USDCAD Daily Analysis - July 29, 2014
Tuesday, 29 July 2014 04:22 UTC

USDCAD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.0619. Further rise could be expected and next target would be at 1.0900 area. Near term support is at the upward trend line on 4-hour chart, as long as the...

Forex Signals

Close(TP) Buy GBP/NZD @ 1.99332 By Signal Factory
Tuesday, 29 July 2014 05:01 UTC

Close(TP) Buy GBP/NZD @ 1.99332 By Signal Factory | Profit: +80 pips | 2014.07.29 04:53...

Close(TP) Buy GBP/NZD @ 1.99285 By Signal Factory
Tuesday, 29 July 2014 05:00 UTC

Close(TP) Buy GBP/NZD @ 1.99285 By Signal Factory | Profit: +80 pips | 2014.07.29 04:51...

Close Sell EUR/USD @ 1.34351 By Signal Factory
Monday, 28 July 2014 19:15 UTC

Close Sell EUR/USD @ 1.34351 By Signal Factory | Profit: +47 pips | 2014.07.28 19:11...

Close(TP) Buy GBP/NZD @ 1.98935 By Signal Factory
Monday, 28 July 2014 06:15 UTC

Close(TP) Buy GBP/NZD @ 1.98935 By Signal Factory | Profit: +80 pips | 2014.07.28 06:06...

Buy GBP/NZD @ 1.98532 By Signal Factory
Sunday, 27 July 2014 21:15 UTC

Buy GBP/NZD @ 1.98532 By Signal Factory | SL:1.98132 | TP:1.99332 | 2014.07.27 21:00...

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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