GBP/USD, August 13, 7pm UK Time – Longer term analysis The chart below is an analysis based on the daily cable chart. After GBP/USD failed to break 1.6, we saw, for whatever unlogical reason, strength coming into the USD and a 400 pip pullback to 1.56, each day following a similar scheme. We opened London with a [...]
Browsing Posts published in August, 2010
GBP/USD, August 5, 7am UK Time We saw a downward correction yesterday after the APD data. Cable never really recovered and rejected 1.59 a few times during Asia. The 7am candle open is the second bullish candle in a row with some potential upward momentum above 1.59.
GBP/USD, August 4, 10 am UK Time Cable was stalling at 1.596 a few times through yesterday’s US session and Asia. This morning, we saw another, unsuccessful, attempt at 1.596. A weaker than expected PMI has sent cable down to 1.5890 but it seems to recover a bit. Slowly, the bulls seem to lose [...]
GBP/USD, August 3, 7am UK Time After reaching 1.59 yesterday, cable consolidated through the Asia session and is about to find direction after the London open. This has the energy to break 1.6 and is still in an up trend, but we should all stay cautious that a correction is statistically overdue after a multi [...]
GBP/USD, August 2, 7am UK Time Still bullish momentum in cable, but everybody is waiting for a correction. I would prefer to go short into London, but will trade what the charts provide. Critical levels at 1.5753, 1.5821 and 1.5922 to the upside. 1.5603, 1.5585 and 1.5494 to the downside.
