Rarely wrong on cable, as I mentioned yesterday, market in potential Head & Shoulder formation managed to hit the market with first drop so far toward 1.4325 level where market back to advance from intraday uptrend level.
GBP/USD
Overview:
Market still has room to advance to re-test resistance zone 1.4410-40 while as long as market holding below 1.4515 this...
GBPUSD is lining up with a very good long on both 1h and 4h chart. We have our trendchannel with 2 test of low and 2 test of high, with a possible bounce for 3rd test of low, plus a 78,6% fib retracement in almost perfect allignment.
I've decided to go with a wide SL below the prev swing low, but this is ALOT of room to work with, and you could easily narrow it...
The ECB meeting has triggered an upside break above the daily trend line.
Price will pull back inside the trend line and most likely to the 50% fib level at 1.42514 before breaking becoming exhausted which will present a long entry.
Price is likely to advance to the 76.40% fib level before it becomes exhausted and is likely to consolidate pending another...
GBP/USD Hourly
1.4076
Overview :
Market managed to fell to test support 1.3845 as we see over the chart, while managed from there to rebound toward target zone 1.3960-1.4000 as we advised before on Tuesday.
Britain published construction sector PMI: 54,2 that is lower then the forecasted 55,5. The pound did not receive support from the black gold market...
SUMMARY:
The primary trend of GBP/USD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4405 and support at the level of 1.4175. If it breaks...
The British Pound retains a strong upward tone after of the BOE's economic policy statement, trading a handful of pips above the fresh 4-week high posted last Wednesday, and pressuring the 50% retracement of the latest daily decline between 1.5239 and 1.4078.
Carney says the Bank of England expects real incomes in the UK to grow solidly this year, after several...
Please find the market trend of GBPUSD.
Resistance is at 1.4446 if its break it will go bullish.
Support is at 1.4395 if its break then will go bearish till 1.4325.
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IMPORTANT NEWS TODAY: WED, FEB 03
12.00am NZD : RBNZ Governor Wheeler Speaks
12.30am AUD : Building Approvals m/m (Actual 9.2%, Forecast 4.8%, Previous -12.4%)
AUD : Trade...
