Hey Guys,
I’d like to start making some technical analyses of GBP/USD. I’ll try to post every time I see favorable trades forming. Please check out other currency pair threads for some of my other analyses. Also, Jebatfx has some insightful analyses on GBP/JPY that I find very helpful. They can be found in the “Currency Crosses” forum on this site.
I’d like to invite everyone to comment and share opinions on the analyses.
I am having trouble posting to this forum. Every time I submit a post of my chart and analysis I get a page that says that the page can not be found. Can anyone help me out?
The CABLE failed to confirm a break below the key level at 1,5877 recovering and forming a small positive day reversal. Only a daily closing above 1,5990 will however confirm a s/t bottom supporting a little higher levels!!
The indicators of the daily chart are still in positive territory while those of the s/t ones are mixed suggesting further consolidation. An hourly closing above 1,5990 will favour an extension of the correction toward the 200 hours line with even a possible 1,60 overshooting. The move up is however corrective and therefore a selling opportunity!!
I remain on the sideline waiting for higher levels to sell
The CABLE confirmed on Friday a strong closing suggesting a retest of the 200 days line at 1,6139!! A closing tonight above 1,6095 will confirm a s/t bottom.
The indicators of the daily chart are still well positive but those of the weekly one remain below the line. The weekly closing was positive forming a positive week reversal. The indicators of the s/t charts are positive this morning however a little overbought and however showing potential negative reversals. The move up started however also forming bearish divergences in the hourly chart suggesting that the move up could not be over yet. However before moving higher we favour a drop toward the 200 hours line at 1,6003!!
I remain on the sideline.
The CABLE not only confirmed a drop toward the 200 hours line but it even fell to last week’s low at 1,5869 where it found some support for now. In yesterday’s session it formed a negative outside day with now 1,6105 – 1,5870 the levels to follow in the coming hours. A break of the support confirmed by a daily closing will favour a drop toward the 1,57 area!
The indicators of the daily chart are still positive but now just at the line while those of the s/t ones plunged below the line. In the hourly chart the drop formed again bullish divergences reversing Friday’s change of the tone.
The CABLE is also interior a descending triangle but only an hourly closing below 1,5869 will confirm lower levels. The first target based on the hourly chart is already found at 1,5844!!
I remain on the sideline waiting for confirmations
The CABLE confirmed a session of consolidation yesterday forming a new inside day with 1,5795 – 1,5515 the levels to follow in the coming hours. A possible closing above 1,5795 will extend the move up toward the 1,59 area.
The indicators of the daily chart are still below the line while those of the s/t ones are mixed supporting further consolidation. Also here the move up failed to form divergences keeping therefore the negative tone. In the s/t we expect a retest of the 200 hours line at 1,5579 and only the holding of this line will support another test on the upside!
Only a move above 1,5780 will resume the move up
The CABLE confirmed a weak closing on Friday while remaining interior the inside day with 1,5795 – 1,5515 still the levels to follow in the coming hours. Only a possible closing above 1,5795 will extend the move up toward the 1,59 area if not even 1,61 where we find the 200 days line!!
The CABLE confirmed further consolidation interior the inside day with 1,5795 – 1,5515 still the levels to follow in the coming hours. It confirmed however higher levels as we expected and a break above 1,5725 will extend further its move up suggesting a 1,58 overshooting!!
The CABLE formed a negative day reversal while it still confirmed further consolidation interior the inside day with 1,5795 – 1,5515 still the levels to follow in the coming hours. A daily closing below 1,5610 will suggest a s/t top is in place.
The indicators of the daily chart are again below the line and this morning also those of the s/t ones are in negative territory supporting lower levels.
Only an hourly closing below 1,5560 will however confirming a resumption of the decline confirming also a double top formation with a potential target below 1,54!!
We remain on the sideline following the inside day.
The CABLE is still confirming further consolidation interior the inside day with 1,5795 – 1,5515 still the levels to follow in the coming hours. The closing on Friday was positive as well as the weekly one while however still consolidating interior the inside week!!