Invezted

GBP/USD Analysis 01.05.2013

FX:GBPUSD   British Pound/U.S. Dollar
Background:
Price found enough demand to halt its current downmove @1.46300 where the current minor rally
broke the (red) supplyline indicating that demand outweight supply at this moment , the rally stopped near
the current high @1.5552 which can bee seen as current resistance which needs to be overcome in order to speak
for returning strenght to the market , if we break the (green) demandline we may head down to at least 1.50280
which is the 50% retracement level of the current rally, any buying occuring at that level can bee seen as a further
sign of strenght , however if we fail to hold this level we head back to the support @1.4630 and any rejection at this
level can be seen as strenght yet again , however we may form a trading range between res.1.55520 and sup.
1.4630 for the time beeing .

Signs of Strenght:
  • Downmove came to an halt
  • Broken Supplyline

Signs of Weakness:
  • Price failed to take out the actual high

Key Levels above current price:
1.5520
1.5870

Key Levels below current price:
1.5028
1.4630

sidenote:
A downmove can only last for so long till their is a change in demand, and the balance of supply and demand
changes in the favour of demand , ie. the buyers are at least heads up with the sellers and stop price from going any
lower , if price then is in equibilirium ie., going sideways most traders agree on the same price "fair value"
value = price over time , this balance(cause) aswell only goes on so long till there is a change in demand and supply
and we have an imbalance(effect) and a new trend establishes till we find balance again..

United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out