Hi I wish everyone a great day.
Data on retail sales released on Friday has influenced positively on the British Pound, as the volume of retail sales in March increased by 1.8% compared to the growth forecast of 0.4%. Overcoming expectations .
On a technical level we can say that the pound is remaining within its upward trend, although the MACD indicators shows the overbought. The levels 1.6180 and 1.6236 are the next resistances.
Given that the pair should give a correction technique, we recommend selling on the resistance levels of 1.6180 with targets up to the 32.8% Fibonacci retracement.
:10::10::10:
GBPUSD Weekly and Monthly Pivot Points from July 9-13, 2012
pivot point itself (PV) is the support / resistance primary. This means that major share price movements are marked by this level. Support and resistance can also generate more interesting movements around them.
The pivot points can be used for two purposes: either to identify the prevailing trend in the market or to denote market entry and exit points.
-
If the price set by the pivot point is broken in an upward motion, the market is bullish and, conversely, if the pivot point is broken in a downward motion, the market is bearish.
-
They can provide points of market entry and exit that can be quite useful for trading strategy. For example, a limit sell order can be placed on a level support for open if this support is broken and can put the stop loss for this order in one of the resistances.
Signal For 09 - 13 July
Sell Short 1.5580 with Take Profit at 1.5392 and with Stop Loss at 1.5630.
WEEKLY_
Weekly - R3 = 1.5914
Weekly - R2 = 1.5817
Weekly - R1 = 1.5653
Weekly Pivot = 1.5556
Weekly - S1 = 1.5392
Weekly - S2 = 1.5295
Weekly - S3 = 1.5131
MONTHLY
Monthly - R3 = 1.6408
Monthly - R2 = 1.6092
Monthly - R1 = 1.5998
Monthly Pivot = 1.5582
Monthly - S1 = 1.5388
Monthly - S2 = 1.5072
Monthly - S3 = 1.4878
GBPUSD Sell Below EMA 200 for August 14, 2012
The British pound was trying to break the resistance for five times since the beginning of June, moving average is at 200 periods (blue). Today it had attempts to overcome this level, but failed to fix above it. Now the pound is trading at 1.5701, you can see the graph and notice that the pair has made �‹�‹ attempts to overcome this level, and eventually did not manage to do this.
In case the pair exceeds this level and closes above the EMA of 200 periods, its nearest objective is at 1.5898 weekly resistance. At the moment our outlook is bearish, so we recommend selling at 1.5720 with targets at the uptrend channel around 1.5580.
The stop loss is placed above the maximum recorded around 1.5760.
Have a nice day
María
:33::33::33:
