[B]WEEKLY TECHNICAL OUTLOOK ON GBP/USD
01 Apr 2013 01:25GMT
Trend Daily Chart [/B]
Down
Daily Indicators
Turning up
21 HR EMA
1.5192
55 HR EMA
1.5182
Trend Hourly Chart
Sideways
Hourly Indicators
Turning down
13 HR RSI
39
14 HR DMI
-ve
Daily Analysis
Consolidation with a neutral bias
Resistance
1.5261 - Last Mon’s high
1.5247 - Mar 22 high
1.5222 - Last Fri’s high
Support
1.5150 - Last Thur’s Asian morning high
1.5112 - Y’day’s low
1.5092 - Wed’s low
. GBP/USD - 1.5180… Despite rising initially in tandem with eur/usd to a 1-month high of 1.5261 last Mon, cable came under renewed selling pressure n ratcheted lower to 1.5092 on Wed b4 rebounding to 1.5222 on Fri (Tokyo).
. Looking at the daily chart, although cable’s strg rebound fm Mar’s 2-1/2 year trough at 1.4832 to as high as 1.5261 confirms the 3-legged MT downtrend fm 1.6747 (2011 peak) has made a temporary low there, subsequent choppy trading fm there signals initial range trading is in store n as long as said reaction high holds, MT decline wud resume later this month, a daily close below 1.5026 wud add credence to this view n yield re-test of 1.4832. In view of abv analysis, selling sterling on recovery is the way to go as only abv 1.5330 wud shift risk to upside n bring stronger correction to 1.5423, being a ‘minimum’ 38.2% r of the intermediate fall fm 1.6380-1.4832.
. Today, although cable has edged lower in tandem with euro in Asia, below 1.5135 needed to indicate correction over n yield weakness twd 1.5092 whilst abv 1.5222 wud extend erratic rise fm 1.5092 twd 1.5261 but 1.5300 shud cap upside.
DAILY TECHNICAL OUTLOOK ON GBP/USD
02 Apr 2013 01:16GMT
Trend Daily Chart
Down
Daily Indicators
Turning up
21 HR EMA
1.5221
55 HR EMA
1.5203
Trend Hourly Chart
Near term up
Hourly Indicators
Rising
13 HR RSI
64
14 HR DMI
+ve
Daily Analysis
Marginal rise b4 retreat
Resistance
1.5330 - Feb 22 high
1.5306 - 50% proj. of 1.4832-1.5261 fm 1.5092
1.5261 - Last Mon’s high
Support
1.5178 - Y’day’s low
1.5150 - Last Thur’s Asian morning high
1.5112 - Last Thur’s low
. GBP/USD - 1.5237… Despite cable’s initial dip to 1.5178 in Asian morning y’day, the pair rose in tandem with euro to 1.5218 in European morning b4 falling to 1.5187. However, the rally in eur/usd pushed the pair further higher abv Fri’s 1.5222 high to 1.5242 in NY morning b4 retreating.
. Despite y’day’s euro-led strg rise to 1.5242, subsequent retreat to 1.5218 in Aust. suggests further choppy trading below last Mon’s 1-month high at 1.5261 wud continue with downside bias, below 1.5178 wud signal rise fm last Wed’s low at 1.5092 has ended there n yield further weakness twd 1.5150 (last Thur’s Asian morning high), however, as the hourly oscillators’ readings wud be in o/sold territory on such a move, steep fall below last Thur’s low at 1.5112 is therefore not likely n said 1.5092 sup shud contain downside n bring rebound later.
. Today, we’re now holding a short position in anticipation of further weakness to indicated objective. On the upside, a daily close abv last Mon’s high at 1.5261 wud confirm upmove fm Mar’s 2-1/2 year trough at 1.4832 has resumed n risk stronger retracement of MT downtrend fm 1.6747 (2011 peak) twd 1.5306.
DAILY TECHNICAL OUTLOOK ON GBP/USD
04 Apr 2013 00:53GMT
Trend Daily Chart
Down
Daily Indicators
Turning up
21 HR EMA
1.5132
55 HR EMA
1.5144
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
53
14 HR DMI
+ve
Daily Analysis
Consolidation b4 another fall
Resistance
1.5261 - Last Mon’s high
1.5218 - Tue’s Australian low
1.5178 - Mon’s low
Support
1.5075 - Y’day’s low
1.5026 - Mar 20 low
1.4982 - Mar 13 high
. GBP/USD - 1.5135… Although the British pound fell initially below last Wed’s low at 1.5092 to 1.5075 in Asia y’day, the pair rebounded in tandem with euro to 1.5118 in European morning. Intra-day ascent accelerated in NY morning due to dlr’s broad-based weakness n cable climbed to 1.5159 b4 retreating.
. Despite y’day’s strg recovery after early selloff fm Tue’s high at 1.5259 to 1.5075, as this move signals choppy trading below last Mon’s 1-month high at 1.5261 is in store, suggesting upside shud be ltd to 1.5178 (Mon’s low) n bring another fall to 1.5075, break wud yield further weakness to 1.5026 (Mar 20 low). Looking ahead, only a daily close below 1.5026 wud confirm rise fm Mar’s 2-1/2 year trough at 1.4832 has ended n price will be en route to 1.4982 n then 1.4908 (Mar 13 NY low). On the upside, a breach of 1.5259/61 res wud signal aforesaid upmove has resumed n yield stronger retracement of MT downtrend twd 1.5330.
. Today, selling cable on recovery in anticipation of weakess to indicated objective is recommended, however, ‘bullish convergences’ on hourly oscillators wud keep price abv 1.4982 today. Abv 1.5210/18 wud risk gain twd 1.5259/61.
[B]
DAILY TECHNICAL OUTLOOK ON GBP/USD
Last Update At 17 Apr 2013 01:30GMT
[/B]
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.5338
55 HR EMA
1.5330
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Consolidation with mild upside bias
Resistance
1.5459 - 50% proj. of 1.5034-1.5412 fm 1.5270
1.5412 - Last Thur’s 6-week high
1.5386 - Mon’s high
Support
1.5329 - Hourly chart
1.5270 - Y’day’s low
1.5239 - Last Mon’s low
. GBP/USD - 1.5355… The British pound traded in a choppy fashion y’day n despite initial weakness, price managed to hold abv Mon’s NY low at 1.5270 in Asia n Europe n intra-day rally in eur/usd later helped cable move higher abv 1.5329 res (now sup) to 1.5379 in NY afternoon b4 easing in Asia today.
. Y’day’s aforesaid rally to 1.5379 suggests fall fm last Thur’s 6-week high at 1.5412 to retrace recent upmove fm Mar’s 2-1/2 year trough at 1.4832 has ended at 1.5270 n as long as 1.5329 holds, consolidation with upside bias remains, abv 1.5386 wud confirm this view n yield re-test of 1.5412, break wud bring stronger correction of MT downtrend fm 1.6747 (2011 peak) to 1.5458/59, being 61.8% r of 1.5845-1.4832 n 50% proj. of 1.5034-1.5412 fm 1.5270 respectively, however, as hourly oscillators’ readings wud be in o/bot territory on such a move, reckon 1.5505 (Feb 19 high) shud remain intact n bring retreat later.
. In view of abv bullish view, we’ve exited our previous short position n wud stand aside. On the downside, below 1.5329 wud revive bearishness n yield weakness to 1.5270 but break needed to extend subsequent fall twd 1.5239.
DAILY TECHNICAL OUTLOOK ON GBP/USD
26 Apr 2013 01:59GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.5412
55 HR EMA
1.5353
Trend Hourly Chart
Up
Hourly Indicators
Easing fm o/bot
13 HR RSI
69
14 HR DMI
+ve
Resistance
1.5550 - Feb 15 high
1.5507 - 50% r of 1.6182-1.4832
1.5480 - Y’day’s high
Support
1.5412 - Apr 11 top
1.5368 - Last Fri’s high
1.5335 - Y’day’s Asian high
. GBP/USD - 1.5442… Although the British pound retreated fm Asian high at 1.5335 to 1.5282 in European morning, the pair surged after the release of much better-than-expected U.K. GDP, price eventually climbed to a 2-month high of 1.5280 at NY open b4 easing off on dollar’s broad-based strength.
. Y’day’s firm breach of chart res at 1.5412 (now sup) to 1.5480 confirms upmove fm Mar’s 2-1/2 year trough at 1.4832 to correct MT downtrend fm 1.6747 (2011 peak) has resumed n as price is now trading well abv 21-hr n 55-hr emas, suggesting upside bias remains for further gain twd 1.5507, this is natural 50% r of 1.6182-1.4832, however, as hourly oscillators’ readings wud display bearish divergences on next rise, reckon price shud hold well below 1.5550 (Feb 15 top) n bring much-needed retreat. On the downside, below 1.5385/90 wud signal a temp. top is possibly made n risk wud shift to the downside for retracement to 1.5368, break wud add credence to this view, yield weakness twd 1.5335.
. Today, we’re looking to buy cable on dips for gain twd 1.5507 or sell if price rises to there 1st for subsequent retreat to indicated objective.
DAILY TECHNICAL OUTLOOK ON GBP/USD
Last Update At 01 May 2013 01:14GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.5524
55 HR EMA
1.5500
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
One more rise b4 retreat
Resistance
1.5690 - Feb 13 top
1.5606 - 50% r of 1.6380-1.4832
1.5570 - Y’day’s high
Support
1.5518 - Y’day’s European high
1.5467 - Y’day’s low
1.5418 - Last Fri’s low
. GBP/USD - 1.5537… Although the British pound retreated fm Mon’s high at 1.5547 to 1.5467 in European morning y’day, cross buying of stg vs euro lifted the pair to 1.5518 b4 falling to 1.5474. However, dollar’s broad-based weakness pushed price abv 1.5547 to a fresh 10-week high at 1.5570 in NY morning.
. Cable’s breach of 1.5547 res to 1.5570 signals upmove fm Mar’s 2-1/2 year low at 1.4832 to correct MT decline fm 1.6747 (2011 peak) has once again resumed n further gain twd 1.5606, being a ‘natural’ 50% of 1.6380-1.4832, wud be seen after consolidation, however, as said 1.5570 high was accompanied by prominent ‘bearish divergences’ on hourly indicators, suggesting strg rise abv 1.5606 is unlikely n price shud hold below 1.5630 (Feb 5 low) n bring much-needed correction. On the downside, below 1.5518 wud yield weakness to 1.5467 but break is needed to confirm a temporary top is made n bring stronger retrace. twd 1.5418.
. Today, in view of abv analysis, we’re trading cable on both sides of the market n wud buy on dips for gain to indicated objective or sell if price climbs twd 1.5606 1st for subsequent retreat twd 1.5518, break confirms top, 1.5467.
[B] DAILY TECHNICAL OUTLOOK ON GBP/USD
15 May 2013 01:02GMT[/B]
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
1.5255
55 HR EMA
1.5307
Trend Hourly Chart
Down
Hourly Indicators
Bullish convergences
13 HR RSI
38
14 HR DMI
-ve
Daily Analysis
Resumption of decline
Resistance
1.5385 - Mon’s high
1.5331 - Y’day’s high
1.5275 - Mon’s low
Support
1.5197 - Apr 23 low
1.5128 - 61.8% r of 1.4832-1.5607
1.5034 - Apr 4 low
. GBP/USD - 1.5218… Despite cable’s recovery fm Mon’s low at 1.5275 to 1.5331 in Asia y’day, the pair remained under pressure throughout the day, price fell below said 1.5275 in European morning due to the steep fall in eur/usd n eventually hit a near 3-week low at 1.5207 in NY afternoon.
. Y’day’s euro-led selloff to 1.5207 signals fall fm May’s 10-week peak at 1.5607 to retrace recent upmove fm Mar’s 2-1/2 year low at 1.4832 remains in progress n as price is now trading below 21-hr n 55-hr emas, suggesting downside bias is seen for further weakness to sup at 1.5197, however, as hourly oscillators’ readings have already displayed ‘prominent’ bullish convergences, steep fall below said lvl is not likely n price shud hold abv 1.5128 (61.8% r of
1.4832-1.5607) n bring a much-needed rebound later. On the upside, only a daily close abv 1.5331 wud confirm a temp. low is made n risk wud shift to the upside for subsequent rebound to 1.5385 n then 1.5426 later.
. In view of abv bearish view, we’ve exited our previous long position n look to sell cable on recovery for weakness twd 1.5197.
