GBPUSD Analysis 30/12/14

FX:GBPUSD   British Pound / U.S. Dollar
246 0 0
Long term trend: Up
Medium term trend: Down
Significant Levels: 1.5590 (Horizontal Support), 1.5920 (Horizontal Resistance), Downtrend Line

After the market had gone beyond the downtrend line, the price made a sudden move down. Though this move didn't form immediately when the price went above the trend line , it's still an indication that the market really wants to go down. After the Large Bearish Bar was formed, the price just retraced a bit before breaking the support-turned-resistance level. Currently, the price is just below the resistance and the downtrend line. There is no obvious price action here right now that we can trade. We need to wait for an opportunity to present itself.

In summary, we are still bearish here. We'll wait for a retracement back to the resistance area and form a bearish price action before we can place our order.

Trade well.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out