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frazjee83's Blog
GBP/USD Up trend
Positive if breaks above 1.3470
The Pound rose against the US Dollar in the previous session and closed at 1.3386, as the British public-sector net borrowing rose lessthan- expected in November, mainly due to higher income tax receipts. As of now, the pair is trading with a mildly positive tone on the 1H chart, following a climb in the UK business confidence index to a fivemonth high in December. Also, the MACD indicator is tranquil above its midline, further affirming the above stance. Meanwhil…
The Pound rose against the US Dollar in the previous session and closed at 1.3386, as the British public-sector net borrowing rose lessthan- expected in November, mainly due to higher income tax receipts. As of now, the pair is trading with a mildly positive tone on the 1H chart, following a climb in the UK business confidence index to a fivemonth high in December. Also, the MACD indicator is tranquil above its midline, further affirming the above stance. Meanwhil…
GBP/USD Down Trend
Positive if breaks above 1.3395
The Pound traded higher against the US Dollar in the last session, on reports that the important trade talks could start next month following a Brexit divorce bill agreement between the UK and EU. At present, the pair is trading above its short-term and long-term EMAs on the 1H chart, hinting at the bullish momentum in the pair. In addition, the MACD indicator is trading at a higher level above its centreline, further validating the above stance. Traders would e…
GBP/USD UP Trend
The uptrend is still intact and I favor a break through 1.3220 resistance, towards 1.3440 target mark. Crucial support lies at 1.3125.
1.3220
1.3240
GBP/USD up trend
Current level - 1.2162 The recent break through 1.2185 signals a negative bias, for a slide towards 1.2080, en route to 1.2000 sentiment zone. Crucial on the upside is 1.2250 high.
resistance support intraday intraweek 1.2080 1.2080 1.2080
1.1984
GBP/USD down trend
The 200 hour MA on the GBPUSD is currently at the 1.2299 area. Earlier today, that MA was tested and held. The 2nd look took the price above the MA line on it's way to the day high at 1.23098. That break was the 1st look above the MA since September 30th. You might expect a run higher, right? Wrong. That initial break failed and the price fell back to 1.2283.We are back testing that MA line as I type. The price just moved to 1.23027 but is back down to 1.2295.
The GBPUSD is at a cross road. Not…
Up trend
Following the formation of a bullish engulfing candlestick pattern on the weekly chart for the week ended 20 May 2016, the GBPUSD pair traded higher for a second consecutive week and settled at 1.4623 on Friday, after hitting a high at 1.4689. Weekly MACD and RSI are moving north along with the stochastic indicator trading near its overbought region, hinting at the presence of bullish momentum in the coming week. Daily momentum oscillators are tranquil at a higher level above their centrelines, …
GBP/USD UP Trend
The GBPUSD pushed above the 200 hour MA for the first time since mid-December and that was a big thing. The pair was building off a foundation and moving higher
As outlined in the prior post, the next target was at 1.4351-61 which corresponded with the lows and corrective highs from Jan 12, Jan 14 and Jan 15 (see chart above). That level could not be breached and we have seen a rotation lower. In fact the price is back below the 200 hour MA. That is bearish, but it is Friday afternoon on a weeke…
As outlined in the prior post, the next target was at 1.4351-61 which corresponded with the lows and corrective highs from Jan 12, Jan 14 and Jan 15 (see chart above). That level could not be breached and we have seen a rotation lower. In fact the price is back below the 200 hour MA. That is bearish, but it is Friday afternoon on a weeke…