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GBPUSD Analysis - May 19, 2012 |
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 19 May 2012 03:22 GMT
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GBPUSD breaks below the upward trend line on daily chart, and reaches as low as 1.5732, suggesting that the upward movement from 1.5236 has completed. Further decline would likely be seen next week, and next target would be at 1.5400-1.5500 area. Resistance is at 1.5900, only break above this level could indicate that a cycle bottom has been formed, then correction of the downtrend from 1.6301 could be seen, and the target would be at 1.6000 zone.
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GBPUSD Analysis - May 12, 2012 |
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 12 May 2012 14:02 GMT
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GBPUSD has formed a cycle top at 1.6301 on daily chart. Further decline to test the support of the upward trend line could be seen next week, a clear break below the trend line could signal completion of the uptrend from 1.5602, then the following downward movement could bring price back to 1.5000 area.
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GBPUSD Analysis - May 5, 2012 |
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 05 May 2012 10:36 GMT
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GBPUSD may be forming a cycle top at 1.6301 on daily chart. Pullback to test the support of the uptrend line would likely be seen next week, a clear break below the trend line support will indicate that the upward movement from 1.5602 has completed, then further decline towards 1.5600 could be seen. Resistance is at 1.6301, only break above this level could trigger another rise to 1.6450 zone.
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GBPUSD Analysis - April 28, 2012 |
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 28 April 2012 02:52 GMT
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GBPUSD's upward movement from 1.5602 extends to as high as 1.6279. Further rise is still possible next week and next target would be at 1.6450 area. Support is now at 1.6150, only break below this level could signal completion of the uptrend.
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GBPUSD Analysis - April 21, 2012 |
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 21 April 2012 01:25 GMT
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GBPUSD breaks above 1.6062 previous high and reaches as high as 1.6148. Further rise could be expected next week, and next target would be at 1.6300 area. Support is now located on the upward trend line on daily chart, as long as the trend line support holds uptrend from 1.5236 will continue.
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