GBP/USD Analysis (July 29)
After a high near 1,6450, the market is currently testing an ascending trendline on the 4-hour chart. A clear break below 1,63 would expose a setback towards 1,62 (38% retracement of the current rally).
Tag: GBPUSD
29th July, 2011 – Daily Forex Report by GFM Research
The Dollar Index (DXU11) finds stability again in the ranges of 74.00 after it has hit critical support of 73.40 ranges. Key equity index of the Dow Jones Industrials (DJIA) is trading near important support of 12300;...
GBP/USD Technical Analysis July 28, 2011
The GBP/USD pair fell hard on Wednesday, totally erasing the gains that the market made on Tuesday. The pair had gotten close to the 1.65 psychological number and failed.
GBP/USD Anlaysis
Greetings. Let’s take a look at the GBP/USD hourly chart. As you can see, we’re in a rising channel and we’re currently touching the bottom trend line.
GBP/USD Analysis (July 28)
The Cable has stalled out after a brief attempt above 1,64. For the time being, we consider this move as corrective.
28th July, 2011 – Daily Forex Report by GFM Research
The US Dollar bounces back after depreciating for 4-5 trading sessions after the Dollar Index (DXU11) hit critical support of 73.40 ranges. Key equity index of the Dow Jones Industrials (DJIA) is trading near important support of...
27th July, 2011 – Daily Forex Report by GFM Research
The Greenback depreciated for the second week amidst possible credit default by the US; there is a possibility that the credit rating of the world’s largest economy may be degraded from current AAA+ rating. It seems the...
GBP/USD Analysis (July 27)
The GPB/USD has confirmed its bullish momentum yesterday with an acceleration above 1,6350 (last week high). We now expect a continuation towards 1,66 (weekly bollinger band).
26th July, 2011 – Daily Forex Report by GFM Research
The Greenback traded flat amidst profit taking in the Dow Jones Industrials, historic correlation between DJIA Vs DX suggests the major trend is still bearish in the Dollar Index though short covering can be expected; only weekly...
GBP/USD analysis (July 26)
The GPB/USD has resumed its move to the upside overnight after a consolidation on Monday. A confirmation above 1,6350 will potentially expose 1,66 (weekly bollinger band).