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  #41  
Old 16-04-2010, 16:32
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Default GBP/USD - Next week

We have a strong downwards channel that has been formed over the course of the past two days especially. I was bullish on Cable up to a point, and that point has come...

Take a look at the daily chart attached, stochastics are in overbought mode, and are now beginning to point down, even if very slightly. In addition, AC has turned red. Could be a sign for the next few days.

However, longer term we have a different story. Look at the weekly chart attached. We have been headed up for the past couple of weeks. There was a retracement to the 23.6 level, before bouncing back up.

So overall what could well happen next week is, we'd have some bearish attributed being executed, albeit this wouldn't be for too long. I do not think it will touch the 38.2 level, though it should cross the 23.6. From then, it remains to be seen whether Cable will push up further next week or the following (meaning past 1.5530).

And concerning next week, lets just hope we don't get another huge gap as we got this week!
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GBP/USD Trading-cable_daily.gif   GBP/USD Trading-gbp_usd_w1.gif  
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  #42  
Old 22-06-2010, 14:13
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GBP/USD drew some support from 4 hours 55 EMA and recovered in early US session. Intraday bias is turned neutral again. As noted before, even in case of another rise, we'd expect strong resistance at 61.8% retracement of 1.5521 to 1.4230 at 1.5028 to conclude the recovery from 1.4230 finally.
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  #43  
Old 25-07-2010, 08:57
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The Pound rose against the Dollar after a report showed U.K. June retail sales rose more than economists predicted, damping concern that the economy might slip back into a recession. Retail Sales came out at 0.7% vs. 0.5% forecast. The main support of the GBP/USD on the one hour chart is 1.5230, if the price trades below this level the momentum will be bearish, the RSI is above 50 which means a positive trend, the next resistance on the daily chart is 1.5340 .Overall, GBP/USD traded with a low of 1.5149 and with a high of 1.5296. Today, Prelim GDP is expected at 0.6% vs. 0.3% prior.
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  #44  
Old 03-09-2010, 04:12
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Default GBPUSD: Looking for a short entry

Trading in a channel. I am looking for a short once it reaches the top of the channel between 1.5470/90 with stop 1.5510 and target yesterday's low/support at 1.5350. Respecting a Risk/Ratio of 1-3.
But to trade with caution ahead of tomorrow's Non-Farm Employment Change
GBP/USD Trading-gbp02092014h.jpg
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  #45  
Old 11-09-2010, 05:10
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According to Ufx bank, the Pound trimmed previous day\'s gains and weakened against the dollar after it failed to breach the resistance area of 1.5480. The Trade Balance came out at -8.7B worse than expected -7.5B. The Interest Rate Decision came out unchanged at 0.5% as expected. Holding above the support level of 1.5380 keeps the momentum positive for the pair. Overall, GBP/USD traded with a low of 1.5374 and with a high of 1.5476.
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  #46  
Old 05-12-2010, 19:17
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Default GBP/USD - 05 Dec 2010 - this coming week

As you can see on the Daily chart of GBP/USD, it's been in a downwards channel for a few days now. Price has closed at 1.5787, which actually is not only the 50% fib level, but also the fourth point of the channel that I've drawn.

Ok, so this indicates strong resistance, so you'd be forgiven for thinking price is going to continue in this channel, i.e. down.

Except take a look at the Stochastic and AC. Stochs are powerfully climbing up, and are barely half way yet. AC has been green for a couple of bars. This tells me that if price does breach the upper trendline, then it's gonna breach it bad. If that happens, be prepared for a rise beyond the 61.8 retracement level.
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  #47  
Old 05-12-2010, 21:30
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Quote:
Originally Posted by AshFX View Post
As you can see on the Daily chart of GBP/USD, it's been in a downwards channel for a few days now. Price has closed at 1.5787, which actually is not only the 50% fib level, but also the fourth point of the channel that I've drawn.

Ok, so this indicates strong resistance, so you'd be forgiven for thinking price is going to continue in this channel, i.e. down.

Except take a look at the Stochastic and AC. Stochs are powerfully climbing up, and are barely half way yet. AC has been green for a couple of bars. This tells me that if price does breach the upper trendline, then it's gonna breach it bad. If that happens, be prepared for a rise beyond the 61.8 retracement level.
Thanks for that, Ash

It's been a while.

Welcome home.

Egwig:cool::cool:
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  #48  
Old 05-12-2010, 21:53
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Thank you for that!
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  #49  
Old 05-12-2010, 23:11
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Quote:
Originally Posted by AshFX View Post
As you can see on the Daily chart of GBP/USD, it's been in a downwards channel for a few days now. Price has closed at 1.5787, which actually is not only the 50% fib level, but also the fourth point of the channel that I've drawn.

Ok, so this indicates strong resistance, so you'd be forgiven for thinking price is going to continue in this channel, i.e. down.

Except take a look at the Stochastic and AC. Stochs are powerfully climbing up, and are barely half way yet. AC has been green for a couple of bars. This tells me that if price does breach the upper trendline, then it's gonna breach it bad. If that happens, be prepared for a rise beyond the 61.8 retracement level.
Thanks for that, lets see what it does :-)
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  #50  
Old 06-12-2010, 01:48
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Thanks. :)
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  #51  
Old 06-12-2010, 10:03
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Quote:
Originally Posted by AshFX View Post
As you can see on the Daily chart of GBP/USD, it's been in a downwards channel for a few days now. Price has closed at 1.5787, which actually is not only the 50% fib level, but also the fourth point of the channel that I've drawn.

Ok, so this indicates strong resistance, so you'd be forgiven for thinking price is going to continue in this channel, i.e. down.

Except take a look at the Stochastic and AC. Stochs are powerfully climbing up, and are barely half way yet. AC has been green for a couple of bars. This tells me that if price does breach the upper trendline, then it's gonna breach it bad. If that happens, be prepared for a rise beyond the 61.8 retracement level.
Thanks for the infor Ash..really appreciate it.
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  #52  
Old 06-12-2010, 14:22
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Right now, the resistance has held exactly to the trendline I drew Ė literally to the pip. When a fib and trendline confluence, you know there is gonna be some pretty strong resistance.
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  #53  
Old 06-12-2010, 19:32
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Thanks for the heads-up Ash, I'll watch it with interest.
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  #54  
Old 06-12-2010, 21:53
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Welcome back Ash.
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  #55  
Old 10-12-2010, 12:47
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Ok, so this morning the GBP/USD hit the 61.8 fib line I said it would this week.

Now, if you look at the Stochs, they are oversold, and the AC has just turned red. Hard to see this going higher and higher next week.
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  #56  
Old 04-01-2012, 10:47
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Default Re: GBP/USD Trading

The credit crisis in the Eurozone had a negative impact on the British economy, which caused sharp declines of the pound against the USD. In the beginning of the year, the GBP approached the resistance of 1.68-1.70, which it failed to break during 2009, and started sliding from this point in the rest of the months.
In the technical aspect, the pair reached the support at 1.53 and made the "head & shoulders" pattern above it. A strong break-down of this bearish pattern might take the GBP down to the 2-years low around 1.45.
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GBP/USD Trading-gbpusd0301.jpg  
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  #57  
Old 28-02-2012, 05:29
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Default Re: GBP/USD Trading

GBP/USD pair is suitable one, as the critical competition amongst the pair of currency is quite popular, and we can earn huge from this.
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  #58  
Old 24-04-2012, 11:15
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Default Re: GBP/USD Trading

The pound is close to break the 7-months high at 1.615. if it manages to overcome this strong obstacle, we might see it around 1.64 within few weeks..
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  #59  
Old 28-11-2013, 13:34
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Default Re: GBP/USD Trading

the pair shot up...but it might be an indication for its pull back in the coming days....
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  #60  
Old 29-11-2013, 07:18
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Default Re: GBP/USD Trading

GBP/USD reached $1.6374, the highest level since August 2011. The pairís rising for the fourth day as the Bank of Englandís Governor Mark Carney said the central bank will end incentives for mortgage lending to head off threats to financial stability from the housing market. Nationwide HPI is due at 07:00 today.
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  #61  
Old 02-12-2013, 07:10
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Default Re: GBP/USD Trading

GBP/USD reached $1.6442. Britain will release manufacturing PMI at 09:30 GMT (forecast: 56.5 vs. previous 56.0).
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  #62  
Old 12-03-2014, 17:00
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Default Re: GBP/USD Trading

the pair went down, might be the end of a pullback, there are chances of it making a way up in the next week...
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  #63  
Old 14-04-2014, 11:02
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Default Re: GBP/USD Trading

Euro has been very strong this year and there are chances of getting down in the coming weeks.
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  #64  
Old 09-11-2014, 01:17
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Default Re: GBP/USD Trading

How is the result of US labour market statistic?? especially for NFP and unemplyoment rate because it affecting the FED to decide the interest rates.
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  #65  
Old 03-12-2014, 16:46
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Default Re: GBP/USD Trading

GBPUSD has been trading low and the pair seems to be in the bearish state, the tings might get choppy from here.
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  #66  
Old 03-03-2015, 16:29
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Default Re: GBP/USD Trading

Quote:
Originally Posted by mocharifin View Post
How is the result of US labour market statistic?? especially for NFP and unemplyoment rate because it affecting the FED to decide the interest rates.
Guys, don't miss for this weekend NFP. And let's fishing there..
I hope my account in Liteforex will blow up with huge profits.
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  #67  
Old 15-04-2015, 16:00
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Default Re: GBP/USD Trading

Poor USD Data has again made pair to move higher, it has made a good move and their might be a pull back soon.
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  #68  
Old 31-05-2015, 13:49
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Default Re: GBP/USD Trading

I am starting trading with GBP/USD pair. And we can see here, that we should close this order, and open new one in opposite direction.
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  #69  
Old 31-05-2015, 14:23
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Default Re: GBP/USD Trading

I have closed deal on GBP/USD as I said earlier but new deal I have opened on buy not sell.
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  #70  
Old 08-09-2015, 08:54
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Default Technical analysis of GBP/USD the week from 7th 2015


Short overview:

The support of the GBP/USD pair has already set at 1.5164, but the minor support is found at the level of 1.5207. Furthermore, it will be very profitable to buy above this level amid retesting of the weekly pivot point and the short-term weekly support 1, because the market is going to call for a uptrend from the level of 1.5207. Therefore, buy orders are recommended above 1.5207 with targets at 1.5256 (the level of 1.5256 represents the intraday pivot point) and 1.5349 in order to reach the weekly support 1. On the contrary, the support is going to set at the level of 1.5143 today. The price hit the weekly pivot point this week and the first support last week. It is signing for strong bullish market this week.

Observations:

The market is going to call for a uptrend from the spot of 1.5146/1.5207.
The minor resistance is seen at 1.5301.
The major resistance has already set at the level of 1.5349. Moreover, the double top will set at the same level.
The price hit the weekly pivot point this week and the first support last week. It is signing for strong bullish market this week.
We expect a range about 96 pips today.
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  #71  
Old 09-10-2015, 11:11
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Default GBP/USD Technical Analysis for 9th October 2015


The GBP/USD pair performed a nice bullish movement this week, an effort that could continue next week. The distribution territory at 1.5350 was tested with intent to break it to the upside. With further buying pressure in the market, the distribution territory would be eventually overcome.
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