AceTraderForex Sept 24 : Daily Market Outlook on Major GBP/USD

[B]DAILY GBP/USD OUTLOOK[/B] - 1.6029
[B]24 Sep 2013[/B] [I]07:26GMT[/I]

Despite sterling’s retreat fm 1.6073 to 1.6017 in NY y’day, below said sup needed to signal recovery fm 1.5986 (Fri) has ended n bring resumption of decline fm last Wed’s 8-month peak at 1.6163 to 1.5958, ‘loss of momentum’ wud keep cable abv 1.5920/25.

Sell again on intra-day recovery as only abv 1.6100 indicates pullback is over, risks 1.6142/47.

[B]STRATEGY :[/B] Sell at 1.6060

[B]OBJECTIVE :[/B] 1.5965

[B]STOP-LOSS :[/B] 1.6098

[B]RES :[/B] 1.6073/1.6100/1.6163

[B]SUP :[/B] 1.6017/1.5986/1.5958

[B]DAILY GBP/USD OUTLOOK[/B] - 1.6092
[B]27 Sep 2013[/B] [I]07:04GMT[/I]

Cable’s intra-day spike to 1.6133 after media
report of hawkish comments by BoE’s Carney suggests
correction fm last Wed’s 8-month peak at 1.6163 has
ended at 1.5955 n abv said res wud extend MT upmove
fm 1.4814 to 1.6188, then twd 1.6255 next week.

Hold long for 1.6160 1st n only below 1.6043 pro
longs choppy consolidation, risks 1.5999/04.

[B]STRATEGY :[/B] Hold long

[B]POSITION :[/B] Long at 1.6090

[B]OBJECTIVE :[/B] 1.6160

[B]STOP-LOSS :[/B] 1.6055

[B]RES :[/B] 1.6163/1.6188/1.6255

[B]SUP :[/B] 1.6043/1.5999/1.5955

[B][U]MEDIUM TERM[/U] OUTLOOK on GBP/USD[/B] - 1.6175
[B]02 Oct 2013 [/B][I]04:19GMT [/I]

Cable’s rally abv 1.5753 (Jun) to a fresh 9-month high at 1.6260 confirms MT uptrend fm this year’s low at 1.4814 (Apr) has resumed n further gain to 1.6380 res (Jan) is likely, abv wud extend to 1.6500 but 1.6747 res wud hold fm here.

Only below 1.5955 wud signal a temporary top is made n risk stronger retrace- ment to 1.5753 (prev. res, now sup) b4 rebound.

[B]DAILY GBP/USD OUTLOOK - 1.6813 [/B]
[B]30 Apr 2014[/B] [I]07:09GMT[/I]

Despite cable’s brief bounce from 1.6792 (Europe)
to 1.6848 (NY) yesterday, as early retreat from Mon’s
4-1/2 yr peak at 1.6858 suggests a temp. top has
possibly been made, choppy consolidation with down
side bias would be seen for retrace. towards 1.6762 sup.

Reinstate short on recovery, stop initially above
previous daily 1.6879 res (Nov 2009), break, 1.6900.