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GBP/USD Mid-Day Outlook
Daily Pivots: (S1) 1.5208; (P) 1.5241; (R1) 1.5287
4H
Intraday bias in GBP/USD remains neutral for the moment. As long as 1.5161 minor support holds, rebound from 1.4950 short term bottom is in favor to extend through 1.5351. But in that case, we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5161 minor support will bring retest of 1.4950 low first.
---------- Post added at 07:00 PM ---------- Previous post was at 06:54 PM ----------
D1
In the bigger picture, price actions from 1.3503 (2009 low) are treated as consolidations to long term down trend from 2.1161. The current development argues that such consolidation is possibly completed at 1.7190, just below 50% retracement from 2.1161 to 1.3503 at 1.7332. GBP/USD is now heading back to 1.4813 key support level. We'd hold on to this bearish view as long as 1.5785 resistance holds.
---------- Post added at 07:18 PM ---------- Previous post was at 07:00 PM ----------
Midday update for GBP USD
he GBPUSD pair tests now the main bearish channel’s resistance, while the EMA50 keeps pushing negatively on the intraday and short term trading, as long as the price is below 1.5375, so our bearish trend expectations will remain valid for today, our first main target at 1.5000, and breaking it will extend the bearish wave to reach 1.4800 levels.
Expected trading range for today is between: 1.5100 support and 1.5375 resistance.
Expected trend for today: Bearish
---------- Post added at 07:40 PM ---------- Previous post was at 07:18 PM ----------
GBP/USD Technical Strategy: Flat
Support: 1.5171, 1.4980, 1.4750
Resistance: 1.5322, 1.5551, 1.5737
The British Pound is consolidating after retreating from resistance at the top of a falling channel guiding the down trend against the US Dollar since mid-September. A daily close below trend line resistance-turned-support at 1.5171 exposes the 23.6% Fib expansion at 1.4980. Alternatively, a push above the intersection of channel top resistance and the 23.6% retracement at 1.5322 opens the door for a challenge of the 38.2% threshold at 1.5551.
Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.
---------- Post added at 08:08 PM ---------- Previous post was at 07:40 PM ----------
GBPUSD is bullish on intraday charts. The target could still be 5450 for the week as I indicated in Currencies Forecast Poll but we need to concentrate on intraday movement now. 5275 and 5220 are crucial for GBPUSD. As we can see to the left, there is a failed head and shoulders pattern which trendline shows exactly yesterday's inability to close below it. Pullbacks towards 5220 could be used for long trades, while any hourly close below 5220 could lead the pair towards 5220 and 5165. Bias is bullish though, so 5220 zone is used for position trades while 5275 should be used as a breakout level towards 5300 and 5330.
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analysis for today 2 / 12 / 2015
GBPUSD
Resistance : R1 1.5303 R2 1.5328 R3 1.5348 R4 1.5378
Support : S1 1.5172 S2 1.5147 S3 1.5127 S4 1.5097
Open : 1.5238
High : 1.5247
Low : 1.5228
Range : 0.0019 Pips
Running Price : 1.5230
Strategy : SELL at the level 1.5230 stop loss at the level 1.5303 target take profit at the level 1.5127 or at the level 1.5097
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Forex Trading Today
Pair = GBPUSD
Date = Thursday, 02.12.2015
Fibonacci Pivot point Result
Resistance 3 = 15331
Resistance 2 = 1.5300
Resistance 1 = 15281
Pivot point = 15251
Support 1 = 15220
Support 2 = 15201
Support 3 = 15170
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GBP USD below the resistance
The GBPUSD pair keeps its stability below the main bearish channel’s resistance, and the EMA50 continues to protect the trading within it, while stochastic keeps providing negative signal on the daily time frame.
Therefore, the bearish trend scenario will remain valid for today, and the first target is testing 1.5000 level, reminding you that holding below 1.5375 represents a main condition for the continuation of the suggested decline.
Expected trading range for today is between: 1.5100 support and 1.5335 resistance.
Expected trend for today: Bearish
---------- Post added at 06:13 PM ---------- Previous post was at 07:26 AM ----------
GBP/USD Daily Outlook
Daily Pivots: (S1) 1.5201; (P) 1.5250; (R1) 1.5281
4H
Intraday bias in GBP/USD remains neutral for the moment. As long as 1.5161 minor support holds, rebound from 1.4950 short term bottom is in favor to extend through 1.5351. But in that case, we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5161 minor support will bring retest of 1.4950 low first.
---------- Post added at 06:33 PM ---------- Previous post was at 06:13 PM ----------
D1
In the bigger picture, price actions from 1.3503 (2009 low) are treated as consolidations to long term down trend from 2.1161. The current development argues that such consolidation is possibly completed at 1.7190, just below 50% retracement from 2.1161 to 1.3503 at 1.7332. GBP/USD is now heading back to 1.4813 key support level. We'd hold on to this bearish view as long as 1.5785 resistance holds.
---------- Post added at 07:22 PM ---------- Previous post was at 06:33 PM ----------
The pair failed to rise yesterday and is trading again below the key resistance of the descending channel showing on graph. Trading below 1.5265 is negative, and we will be positive unless the pair breaches 78.6% correction at 1.5325 and stabilize above it.
---------- Post added at 07:34 PM ---------- Previous post was at 07:22 PM ----------
MACD's positive attempt weakened but Linear Regression Indicators are still positive, and RSI 14 is trading above line 50. Therefore, the pair should break 1.5170 and stabilize below it to strengthen the negative possibility intraday today.
---------- Post added at 07:43 PM ---------- Previous post was at 07:34 PM ----------
Support 1.5225 1.5170 1.5130 1.5085 1.5085
Resistance 1.5260 1.5300 1.5325 1.5395 1.5425
Recommendation
Negative expectations below 1.5260, risk-limit above 1.5325.
---------- Post added at 07:49 PM ---------- Previous post was at 07:43 PM ----------
Midday update for GBP USD
The GBPUSD pair continues to fluctuate in sideways track and keeps its stability below the bearish channel’s resistance, therefore, there is no change on the bearish trend scenario that depends on the stability below 1.5375 level, while its main targets begin at 1.5000, where breaking it represents a key for extending the bearish wave towards 1.4800.
Expected trading range for today is between: 1.5100 support and 1.5335 resistance.
Expected trend for today: Bearish
---------- Post added at 08:01 PM ---------- Previous post was at 07:49 PM ----------
GBP/USD Mid-Day Outlook
Daily Pivots: (S1) 1.5201; (P) 1.5250; (R1) 1.5281
4H
The rebound from 1.4950 extends and intraday bias is back on the upside. Further rise could be seen. But still, we're viewing such rebound as a corrective move. Thus, we'd expect we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5195 minor support will bring retest of 1.4950 low first.
---------- Post added at 08:19 PM ---------- Previous post was at 08:01 PM ----------
D1
In the bigger picture, price actions from 1.3503 (2009 low) are treated as consolidations to long term down trend from 2.1161. The current development argues that such consolidation is possibly completed at 1.7190, just below 50% retracement from 2.1161 to 1.3503 at 1.7332. GBP/USD is now heading back to 1.4813 key support level. We'd hold on to this bearish view as long as 1.5785 resistance holds.
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To day support and resistance date.13/2/2015
Resistance 1:1.5420
Resistance 2:1.5450
Resistance 3:1.5485
Power pivot:1.5385
Support 1:1.5360
Support 2:1.5325
Support 3:1.5290
Sell order:Bhai mary plan ya hai jub market support 1ko touch kry to sell k order lga den or se k tp support 2 ok kr den or stop loss resistance1 ok kr den
Buy order:jub market resistance1 ko touch kry to buy k order lga den or se k tp resistance2 ok kr den or se k stop loss support1 kr den.
Plan 2:sell order: jub market resistance3 ko touch kry sell order ok kr den or stop loss 20 pip kr den.
Buy order:jub market support3 ko touch kry to buy k order ok kr den.
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Talking Points:
GBP/USD Technical Strategy: Pending Long at 1.5373
Support: 1.5166, 1.4980, 1.4750
Resistance: 1.5322, 1.5551, 1.5737
The British Pound looks set to continue higher against the US Dollar having taken out resistance at the top of a falling channel in play since mid-September. A daily close above the 38.2% Fibonacci retracement at 1.5551 exposes the 50% level at 1.5737. Alternatively, a reversal below the intersection of channel top resistance-turned-support and the 23.6% retracement at 1.5322 clears the way for a test of a horizontal pivot at 1.5194.
Risk/reward considerations argue against entering long at current levels and we will set an entry order to buy the pair at 1.5373. If triggered, the position will initially target 1.5551 and carry a stop-loss activated on a daily close below 1.5194.
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analysis for today 2 / 13 / 2015
GBPUSD
Resistance : R1 1.5449 R2 1.5474 R3 1.5494 R4 1.5524
Support : S1 1.5343 S2 1.5318 S3 1.5298 S4 1.5268
Open : 1.5384
High : 1.5418
Low : 1.5374
Range : 0.0044 Pips
Running Price : 1.5386
Strategy : BUY at the level 1.5386 stop loss at the level 1.5343 target take profit at the level 1.5494 or at the level 1.5524
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analysis for today 2 / 13 / 2015
GBPUSD
Resistance : R1 1.5449 R2 1.5474 R3 1.5494 R4 1.5524
Support : S1 1.5343 S2 1.5318 S3 1.5298 S4 1.5268
Open : 1.5384
High : 1.5418
Low : 1.5374
Range : 0.0044 Pips
Running Price : 1.5386
Strategy : BUY at the level 1.5386 stop loss at the level 1.5343 target take profit at the level 1.5494 or at the level 1.5524
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GBP/USD Daily Outlook
Daily Pivots: (S1) 1.5255; (P) 1.5335; (R1) 1.5461
4H
Intraday bias remains mildly on the upside as the rebound from 1.4950 could extend higher. But still, we're viewing such rebound as a corrective move. Thus, we'd expect we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5195 minor support will bring retest of 1.4950 low first.
---------- Post added at 01:10 PM ---------- Previous post was at 01:00 PM ----------
D1
In the bigger picture, price actions from 1.3503 (2009 low) are treated as consolidations to long term down trend from 2.1161. The current development argues that such consolidation is possibly completed at 1.7190, just below 50% retracement from 2.1161 to 1.3503 at 1.7332. GBP/USD is now heading back to 1.4813 key support level. We'd hold on to this bearish view as long as 1.5785 resistance holds.
---------- Post added at 02:11 PM ---------- Previous post was at 01:10 PM ----------
The pair rushed to the upside and breached the key resistance of the descending channel and 1.5325. Hence, further bullishness is possible today targeting 1.5480 at 23.6% correction of the bearish wave that started at 1.7188 reaching the bottom 1.4952 as showing on graph.
---------- Post added at 02:29 PM ---------- Previous post was at 02:11 PM ----------
Breaching 1.5480 strengthens the positivity again, which could lead to a ****ual upside move towards 1.5805 in the coming weeks. Linear Regression Indicator 34 supports the pair and MACD is positive, which support the possibility of extending the upside move intraday today.
---------- Post added at 02:36 PM ---------- Previous post was at 02:29 PM ----------
Support 1.5395 1.5355 1.5320 1.5285 1.5260
Resistance 1.5425 1.5480 1.5515 1.5545 1.5605
Recommendation
Positive expectations above 1.5395, risk-limit below 1.5300.
Note: Recommendation at the top.
---------- Post added at 02:42 PM ---------- Previous post was at 02:36 PM ----------
GBP USD changes the intraday trend – Analysis - 13/02/2015
The GBPUSD pair achieved clear breach to 1.5375 level and closed the daily candlestick above it, besides completing drawing a cup and handle pattern that appears on chart after breaching 1.5350 level, thus, we believe that the price has enough positive factors to push it to trade positively in the upcoming period, as the main targets located at 1.5720.
Stochastic offers positive signal on the daily chart to reinforce the expectations to rise, noting that breaking 1.5280 level will put the price under the negative pressure again.
Expected trading range for today is between: 1.5280 support and 1.5580 resistance.
Expected trend for today: Bullish
---------- Post added at 03:00 PM ---------- Previous post was at 02:42 PM ----------
Midday update for GBP USD 13/02/2015
The GBPUSD pair keeps its stability above 1.5375 level, which keeps the bullish trend scenario valid until now, and the positive effect of the cup and handle pattern mentioned this morning still valid, waiting for targets that mainly reach 1.5720, while achieving it requires holding above 1.5280.
Expected trading range for today is between: 1.5280 support and 1.5580 resistance.
Expected trend for today: Bullish
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GBP/USD Weekly Outlook
4H
GBP/USD's rebound from 1.4950 extended higher last week and further rise could be seen. But again, we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5195 minor support will bring retest of 1.4950 low first.
---------- Post added at 05:05 PM ---------- Previous post was at 03:32 AM ----------
D1
In the bigger picture, price actions from 1.3503 (2009 low) are treated as consolidations to long term down trend from 2.1161. The current development argues that such consolidation is possibly completed at 1.7190, just below 50% retracement from 2.1161 to 1.3503 at 1.7332. GBP/USD is now heading back to 1.4813 key support level. We'd hold on to this bearish view as long as 1.5785 resistance holds.
---------- Post added at 05:21 PM ---------- Previous post was at 05:05 PM ----------
Weekly
In the longer term picture, we're sticking on to the view that price actions from 1.3503 are the fourth wave of the five wave sequence from 2.1161. That means, firstly, 1.3503 shouldn't be the end point of the downtrend yet and a new low is expected. However, secondly, as the next fall could be the fifth wave, the breach of 1.3503 could be shallow and brief from long term point of view and we'll then see a more sustainable rebound.
