Posts Tagged ‘GBP/USD analysis’

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GBP/USD going up in correction?

June 3, 2012

When you look at the daily chart of GBP/USD  you can see that it tested the significant support at 1.5278 and rebounded, forming asymmetrical triangle. Read more

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GBP/USD goes up for Head and Shoulders?

May 17, 2012

In the last 3 days Cable broke the trendline and  support at 1.6050 and tested the other significant support at 1.5770. Now we can see on the chart the left shoulder and the head, so if it rebounds from the support at 1.5770 most probably it will make a correction till 1.6000-1.6050 to form the right shoulder and after that  GBP/USD will continue the downtrend movement.

Trading idea: Open a position at 1.5780 with stop loss at 1.5705 and take profit at 1.6030. If you use high leverage better skip this idea!

If you want to know what we consider high leverage and how leverage and big risk affect your trading click here .

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Good luck!

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GBP/USD more likely will continue in downtrend

May 5, 2012

http://newonforex.com/

After last week Cable made a test on the resistance level on 1.6300 it started going down. It went through the support on 1.6250 which became very strong resistance level – tested several times. For a few days traders were keeping it between 1.6250-16170 when finally on Friday it went down. Now it more likely will continue the downtrend it started to the next support on 1.6060 and if it goes through will reach 1.5990.