GBP/USD

[Catalyst]

I tend to try to always follow the direction of the daily trend, so I'm going to wait for the 15m trend to finish and then go in for a long when price reaches the trend line

[ddukic]

GBP/USD Week 38 - Review and Analysis



GBP/USD WEEKLY

COMMENTS: Last week was favorable for GBP adding another positive green bar on the respective chart. The main point of interest is zeroed on the tandem of the two SMAs, delimiting a strong supporting area that will act as such in case the forthcoming week designs a negative path in shorter time frames. The next target is set at the 2.618 grade of the Fib scale measuring the fall of this parity and its reactive rebound since the beginning of 2009. The consequent up targets of this parity are indicated at higher grades of the same Fib scale.
SUGGESTIONS: Long positions running already from lower parity’s levels remain opened aiming to higher targets. After the crossing from below of the 2.618 level and the eventual reconfirmation of it, you should increase your long exposure and at the same time establish a “trailing stop loss” strategy which will protect your profits. In case your trailing stop loss is hit at a sudden falling of the parity and thus your position is closed, don’t be afraid to pay the “spread” if you want to open a new long position. There is enough interesting risk/reward ratio in this up move.

[ddukic]

GBP/USD 20/09/2012 - 4h Chart Analysis



GBP/USD – 4 HOURS CHART

COMMENTS: There is a divergence in this parity’s chart between the parity’s path and the path of the 14 periods RSI. Indeed, the parity bended lately at the almost “double top” recently achieved. The 50SMA is close below ready to support the eventual further fall of the parity.
SUGGESTIONS: Long positions already opened from lower levels remain opened until the parity “breaks”, unequivocally, the 50SMA, otherwise, please consider increasing your long exposure. Obviously, below the 50SMA you consider the opening of “short” positions with stop loss the recent local high.

[Korg]

I see a retracement happening down to 1.60, and then from there a bit of range trading, oscillating around the 1.60 area.

[ddukic]

GBP/USD - 26/09/2012 - 4h Chart Analysis



GBP/USD 4 HOURS CHART

COMMENTS: This parity started correcting as you can observe in my today (26/9/2012) relevant posting. The parity crossed, unequivocally, from above the 50SMA and continues its path downwards. The blue trend line u2 may play a supporting role that can eventually delay the fall. From its (u2) past course, this trend line is not expected to present a very strong supporting. If this appreciation is correct, the parity will continue its fall till the next strong supporting level, the 200SMA.
SUGGESTIONS: Stay “short”. If you like, increase slightly your short exposure. Set as stop loss just above on one of the previous local highs. It is not the “season” for “long” positions.

[ddukic]

GBP/USD Week 40 - Review and Analysis



GBP/USD

COMMENTS: The Pound created a “double top” set up and stood there “hanging”. Many times, Monday morning in Europe is a quiet morning. The traders wait for their USA colleagues to animate the scenery. So, we will see what will happen after the opening of the USA trading. In the meantime, please observe the tandem horizontal evolution of the two SMAs signaling the parity of the average closing price for the last 50 weeks (almost one year) with the average closing price of the last 200 weeks (almost four years) . Inevitably, the tandem of these two SMAs constitutes a strong level.

SUGGESTIONS: For as long as the parity remains above, the parity will move upwards. Don’t forget that there is a kind of triangle being formed since 2009 signaling an eventual consolidation at these levels, an issue that may force this parity to explode at a given time in the near future. As the swings become shorter and shorter the possibility of an “explosion” increases. So, I I would stay out of this pair until the parity decide to come to terms with the two SMAs. Anything before that must be handled in charts of lesser time frame and thus constitute positions that will last short times.

[angelnish]

GBP – USD TODAY 3 OCT 2012
Current fall is near an end of wave around 1.6102 zone, a rally should then procede to above 1.6168. Fall below 1.6073 would cancel this scenario.

[theMoney]

GBP – USD TODAY 3 OCT 2012
Current fall is near an end of wave around 1.6102 zone, a rally should then procede to above 1.6168. Fall below 1.6073 would cancel this scenario.

I think a test of 1.60 is a very likely scenario: That's what I'm expecting.

[angelnish]

[theMoney]

It looks like there could be a pinbar on the hourly, and if that is the case, that is very bearish and I would expect 1.60