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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 22, 2014, Technical Analysis
Tuesday, 22 July 2014 05:52 UTC

The USD/JPY pair initially fell during the session on Monday, but found enough support just above the 101 level to turn things back around and form a hammer. This hammer of course is a bullish sign, but we are still shopping around back and forth...

USD/CAD Forecast July 22, 2014, Technical Analysis
Tuesday, 22 July 2014 05:51 UTC

The USD/CAD pair went back and forth during the day on Monday, essentially settling nothing by the time we closed. The 1.07 level is where we find the market being comfortable now, and as a result we think that is probably going to take a bit of...

GBP/USD Forecast July 22, 2014, Technical Analysis
Tuesday, 22 July 2014 05:51 UTC

The GBP/USD pair fell during the course of the day on Monday, but as you can see remains somewhat afloat, and more importantly supported at the 1.70 handle. We still believe that this market goes higher, and that this pullback will certainly...

EUR/USD Forecast July 22, 2014, Technical Analysis
Tuesday, 22 July 2014 05:50 UTC

The EUR/USD pair tried to rally during the session on Monday, but as you can see the market failed to hang onto the gains, and we turned around and form a shooting star. The shooting star of course tells us that the market should continue to...

AUD/USD Forecast July 22, 2014, Technical Analysis
Tuesday, 22 July 2014 05:50 UTC

The AUD/USD pair fell slightly during the session on Monday, but as you can see we are well supported near the 0.9350 level. Because of this, we feel that the fall will be short-term at best, and as a result we would buy a supportive candle near...

USDCAD Daily Analysis - July 22, 2014
Tuesday, 22 July 2014 02:02 UTC

USDCAD remains in uptrend from 1.0619, the fall from 1.0794 could be treated as consolidation of the uptrend. Initial support is at the lower line of the price channel on 4-hour chart, and the key support is at 1.0707. As long as 1.0707 support...

Forex Signals

Close(SL) Sell GBP/JPY @ 173.466 By Signal Factory
Tuesday, 22 July 2014 06:00 UTC

Close(SL) Sell GBP/JPY @ 173.466 By Signal Factory | Loss: -40 pips | 2014.07.22 05:56...

Close(SL) Sell GBP/NZD @ 1.96735 By Signal Factory
Tuesday, 22 July 2014 00:15 UTC

Close(SL) Sell GBP/NZD @ 1.96735 By Signal Factory | Loss: -40 pips | 2014.07.22 00:00...

Close(SL) Sell GBP/AUD @ 1.82241 By Signal Factory
Monday, 21 July 2014 21:30 UTC

Close(SL) Sell GBP/AUD @ 1.82241 By Signal Factory | Loss: -40 pips | 2014.07.21 21:24...

Sell GBP/NZD @ 1.96335 By Signal Factory
Monday, 21 July 2014 12:00 UTC

Sell GBP/NZD @ 1.96335 By Signal Factory | SL:1.96735 | TP:1.95535 | 2014.07.21 11:48...

Sell GBP/AUD @ 1.81841 By Signal Factory
Monday, 21 July 2014 07:15 UTC

Sell GBP/AUD @ 1.81841 By Signal Factory | SL:1.82241 | TP:1.81041 | 2014.07.21 07:11...

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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