You don't understand a specific financial term ? Visit our Forex glossary
Results 1 to 9 of 9
  1. #1
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx May 7: Daily Technical Outlook on GBP/USD

    DAILY TECHNICAL OUTLOOK ON GBP/USD
    Last Update At 07 May 2014 00:33GMT

    Trend Daily Chart
    Up

    Daily Indicators
    Rising

    21 HR EMA
    1.6857

    55 HR EMA
    1.6821

    Trend Hourly Chart
    Up

    Hourly Indicators
    Easing fm o/bot

    13 HR RSI
    68

    14 HR DMI
    +ve

    Daily Analysis
    Resumption of MT uptrend

    Resistance
    1.7103 - 1.236 ext. of 1.6460-1.6821 fm 1.6657
    1.7044 - Aug 2009 high
    1.7000 - Psychological res

    Support
    1.6954 - Y'day's European morning high, now sup
    1.6921 - Last Thur's high, now sup
    1.6887 - Hourly chart


    . GBP/USD - 1.6978
    ... Cable edged higher after meeting renewed buying at 1.6865 in Australia y'day n price climbed ahead of European open on dlr's broad-based weakness. Later, release of upbeat UK service PMI pushed price abv 1.6921 to 1.6954, then later to a fresh near 5-year peak of 1.6996 in NY b4 easing.

    . Looking at the hourly n daily charts, cable's firmness after y'day's rally abv last Thur's high at 1.6921 (now sup) to 1.6996 confirms MT erratic uptrend fm 1.4228 (2010 bottom) has once again resumed n further gain is envisaged after a minor consolidation, abv psychological res at 1.7000 wud encourage further headway twd ket res at 1.7044 (Aug 2009 peak n reaction high fm 2009 record low at 1.3500), however, as hourly oscillators are in o/bot territory, sharp gain is unlikely to be seen n reckon 1.7103, (1.236 times extension of 1.6460-1.6821 fm 1.6657) wud remain intact this week n yield minor correction.

    . In view of abv analysis, buying the pound on dips for gain twd 1.7044 is favoured. On the downside, only a daily close below 1.6921 indicates a temporary top is made instead n shifts risk to downside for a retracement to 1.6887 (61.8% r of 1.6821-1.6996, adjust if necessary) but sup 1.6853 (Mon's low) sud hold.

    Last edited by AceTraderFX; 01-10-2016 at 06:08 PM.

  2. #2
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx May 23: Daily Technical Outlook on GBP/USD

    DAILY TECHNICAL OUTLOOK ON GBP/USD

    Last Update At 22 May 2014 23:54GMT

    Trend Daily Chart

    Up

    Daily Indicators
    Turning down

    21 HR EMA
    1.6870

    55 HR EMA
    1.6865

    Trend Hourly Chart
    Sideways

    Hourly Indicators
    Neutral

    13 HR RSI
    47

    14 HR DMI
    +ve

    Daily Analysis
    Choppy trading to continue

    Resistance
    1.6997 - May 6 high
    1.6938 - May 9 high
    1.6923 - Wed's high

    Support
    1.6852 - Y'day's low
    1.6802 - Tue's low
    1.6784 - Last Fri's low in Europe


    . GBP/USD - 1.6867... Cable went through a mini 'roller-coaster' session on
    Thur as despite a brief rise to 1.6917 in European morning, release of U.K. Q1
    GDP which was in line with forecast disappointed the market n the pound swiftly reterated to 1.6862 n then later to 1.6852 in NY afternoon b4 recovering.

    . Looking at the daily picture, although early rally abv res at 1.6903 (last
    week's high) to 1.6923 on Wed signals correction fm May's near 5-year peak at 1.6997 (Reuters) has ended at last Thur's 4-week trough at 1.6732, aforesaid retreat fm 1.6917 suggests further choppy trading below 1.6997 wud continue n a stronger pullback twd 1.6802 may be seen, however, reckon sup at 1.6784 wud hold n upside bias remains for another rise next week after consolidation but a daily close abv 1.6923 is needed to bring a re-test 1.6997 next week. Looking ahead, abv 1.6997 wud confirm MT uptrend fm 1.4228 (2010 trough) has once again resumed n yield gain twd the key daily res at 1.7044 (Aug 2009).

    . In view of abv analysis, buying cable on dips for another rise twd 1.6823 is still favoured today. On the downside, only a firm break of 1.6782/84 wud abort present mildly bullish scenario n may risk subsequent weakness twd 1.6732.
    Last edited by AceTraderFX; 01-10-2016 at 06:08 PM.

  3. #3
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx Jun 12: Daily Technical Outlook & Trading Ideals on USD/GBP

    DAILY TECHNICAL OUTLOOK ON GBP/USD[/B]

    Last Update At 12 Jun 2014 00:23GMT

    Trend Daily Chart
    Sideways

    Daily Indicators
    Turning up

    21 HR EMA

    1.6784

    55 HR EMA
    1.6782

    Trend Hourly Chart
    Sideways

    Hourly Indicators
    Rising

    13 HR RSI
    58

    14 HR DMI
    +ve

    Daily Analysis
    Choppy trading to continue

    Resistance
    1.6883 - May 27 high
    1.6845 - Last Fri's high
    1.6817 - Tue's high

    Support
    1.6838 - Y'day's low
    1.6723 - Last Thur's low
    1.6693 - May's 5-week low


    . GBP/USD - 1.6791... Despite cable dropped to 1.6738 shortly after Asian open on Wed. Price rallied to 1.6797 in European morning after jobs data showed U.K. unemployment fell to its lowest lvl since early 2009. Later, cable extended intra-day gain to session high of 1.6812 in NY b4 retreating.

    . Looking at the hourly n daily charts, despite y'day's rebound fm 1.6838, as mentioned in previous update, the early selloff fm last Fri's high of 1.6845 signals correction fm May's 5-week trough at 1.6693 has ended there n as long as 1.6833 (Mon's high) holds, downside bias remains for another decline twd 1.6723 (last Thur's low) after consolidation, below wud yield re-test of aforesaid low at 1.6693 but break there needed to confirm early fall fm May's near 5-year peak at 1.6997 (Reuters) to retrace MT uptrend has finally resumed n yield weakness to 1.6657 n then 1.6595, being the Apr 15 low n 1.23 times extension of 1.6997-1.6732 measured fm 1.6923.

    . Today, as cable is currently trading abv the 21-hr n 55-hr emas, suggesting near term upside bias remains, abv 1.6812 may yield gain to 1.6833 but only break of 1.6845 bring stronger retracement twd 1.6881 (61.8% r of 1.6997-1.6693).

    Last edited by AceTraderFX; 01-10-2016 at 06:08 PM.

  4. #4
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx Jul 17: Daily Technical Outlook & Trading Ideals on GBP/USD

    DAILY GBP/USD TECHNICAL OUTLOOK

    Last Update At 17 Jul 2014 00:10GMT

    Trend Daily Chart
    Up

    Daily Indicators
    Bearish divergences

    21 HR EMA
    1.7136

    55 HR EMA
    1.7130

    Trend Hourly Chart
    Up

    Hourly Indicators
    Neutral

    13 HR RSI
    52

    14 HR DMI
    +ve

    Daily Analysis
    One more rise b4 correction

    Resistance
    1.7287 - 100% proj. of 1.6952-1.7180 fm 1.7059
    1.7230 - 100% proj. of 1.6460-1.6997 fm 1.6693
    1.7192 - Tue's fresh near 6-year high

    Support
    1.7113 - Y'day's low
    1.7085 - Last week's low (Jul 08)
    1.7059 - Y'day's low


    . GBP/USD - 1.7138 ... The British pound chopped around in a tight range as eur/usd took centre stage in Wed's session. Despite edging higher to intra-day top at 1.7151 in Europe, price briefly dipped to session low of 1.7113 after UK wage rise came in lower than forecast, cable later moved narrowly in NY trading.

    . Looking at the hourly & daily charts, Tue's rally to a fresh near 6-year peak of 1.7192 confirms long-term uptrend has once again resumed n as long as 1.7059 sup holds, gain twd 1.7230 is envisaged (being 100% projection of 1.6460-1.6997 measured fm 1.6693). Having said that, as both hourly & daily technical indicators wud display prominent 'bearish divergences' on such move, reckon 1.7303, this is 50% proj. of intermediate rise fm 1.6693-1.7180 measured fm 1.7059 shud cap upside n risk has increased for a long-overdue strg correction to take place later this month, so die-hard sterling bulls shud book profit on upmove. A daily close below 1.7059 wud confirm temporary top is in place n risk wud shift to the downside for subsequent weakness twd 1.6942 (50% r of 1.6693-1.7180).

    . Today, as long as said y'day's 1.7113 low holds, resumption of uptrend to 1.7200 is envisaged but 1.7225/30 shud remain intact. Below 1.7113, 1.7085.

    Last edited by AceTraderFX; 01-10-2016 at 06:09 PM.

  5. #5
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx Nov 5: Daily Technical Outlook & Trading Ideals on GBP/USD

    DAILY GBP/USD TECHNICAL OUTLOOK
    Last Update At 05 Nov 2014 03:06GMT

    Trend Daily Chart
    Sideways

    Daily Indicators
    Bullish convergences

    21 HR EMA
    1.5998

    55 HR EMA
    1.5999

    Trend Hourly Chart
    Sideways

    Hourly Indicators
    Neutral

    13 HR RSI
    54

    14 HR DMI
    +ve

    Daily Analysis
    Consolidation with downside bias

    Resistance
    1.6103 - Hourly sup (now res)
    1.6055 - 50% r of 1.6183-1.5926
    1.6038 - Last Thur's high

    Support
    1.5963 - Reaction low fm 1.6027 (Mon)
    1.5926 - Mon's low
    1.5875 - Oct 15 low

    . GBP/USD - 1.6001...The British pound found renewed buying at 1.5965 at Asian open Tue n continued to trade with a firm undertone in Asia. Price gained to 1.6008 in early European morning b4 retreating to 1.5978. Later, cable rose to session high of 1.6016 at NY open b4 retreating on cross-selling vs euro.

    . Looking at the daily picture, although price has staged a recovery after Mon's sharp retreat to 1.5926 n further choppy consolidation is envisaged for 1-2 days, as aforesaid move signals early correction fm 2014 trough at 1.5875 has indeed ended earlier at 1.6186 in Oct, reckon last Thur's high at 1.6038 wud cap upside n bring another fall twd said sup. Below ther wud signal the MT downtrend fm Jul's near 6-year peak at 1.7192 has possibly resumed n yield a re-test of 1.5875 later next week. On the upside, only abv 1.6055 (50% r of 1.6183-1.5926) wud indicate the pullback fm 1.6186 has ended instead n risk stronger gain twd 1.6103 (prev. sup, now res).

    . Today, we are looking to sell cable on recovery to 1.6020 for weakness twd 1.5935 n only abv res 1.6038 wud prolong choppy trading n risk marginal gain but res at 1.6055 shud remain intact today n yield retreat.
    Last edited by AceTraderFX; 01-10-2016 at 06:09 PM.

  6. #6
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx Aug 4: Daily Technical Outlook & Trading GBP/USD

    DAILY GBP/USD TECHNICAL OUTLOOK
    Last Update At 04 Aug 2015 00:39GMT

    Trend Daily Chart
    Sideways

    Daily Indicators
    Neutral

    21 HR EMA
    1.5596

    55 HR EMA
    1.5603

    Trend Hourly Chart
    Sideways

    Hourly Indicators
    Falling

    13 HR RSI
    39

    14 HR DMI
    -ve

    Daily Analysis

    Choppy consolidation to continue

    Resistance
    1.5691 - Wed's high
    1.5679 - Last Fri's high
    1.5645 - Y'day's high

    Support
    1.5549 - Last Fri's low
    1.5528 - Last Tue's low
    1.5490 - Last Mon's low

    . GBP/USD - 1.5580... Cable went through a roller-coaster session y'day following Fri's strg bounce fm 1.5549 to 1.5679. Despite staging a recovery to 1.5645 in Europe, price fell to 1.566 b4 rebounding to 1.5624 in NY morning.

    . On the bigger picture, despite cable's erratic rise fm 2015 near-5 year bottom at 1.4566 to 1.5930 in Jun, subsequent retreat to 1.5330 last month signals a temporary high has been made. Having said that, the pound's strg rebound to 1.5676, then 1.5691 last week suggests 'choppy' sideways move is in store n gain to 1.5701 (61.8% r of 1.5930-1.5330) can't be ruled out, as long as pivotal res at 1.5789 holds, downside bias remains for another fall. A daily close below 1.5467 indicates recovery fm 1.5330 is over n re-test of this level would follow but break there needed to turn outlook bearish for resumption of aforesaid decline fm 1.5930 to 1.5170 in late Aug. Abv 1.5789 any time aborts this bearish scenario on cable n risks gain twd 1.5930.

    . Today, although y'day's intra-day gyrations inside indicated Fri's 1.5549-1.5679 range suggests choppy sideways trading would continue, below 1.5549 would bring stronger retracement of early rise fm 1.5330 to 1.5490/00 later.
    Last edited by AceTraderFX; 01-10-2016 at 06:09 PM.

  7. #7
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx Nov 18: Daily Technical & Trading Outlook GBP/USD

    DAILY GBP/USD TECHNICAL OUTLOOK
    Last Update At 18 Nov 2015 00:17GMT

    Trend Daily Chart
    Down

    Daily Indicators
    Bullish convergences

    21 HR EMA
    1.5208

    55 HR EMA
    1.5205

    Trend Hourly Chart
    Sideways

    Hourly Indicators
    Rising

    13 HR RSI

    56

    14 HR DMI
    +ve

    Daily Analysis
    One more rise b4 strg retreat

    Resistance
    1.5302 - 61.8% proj. of 1.5027-1.5265 fm 1.5155
    1.5265 - Last Fri's high
    1.5247 - Last Thur's high

    Support
    1.5182 - Mon's low
    1.5155 - Y'day's low
    1.5133 - Last Wed's European low

    . GBP/USD - 1.5217... The British pound fell in tandem with euro to session lows of 1.5155 in European morning on Tue b4 rebounding to 1.5217 after inline UK inflation data, price later climbed to 1.5239 n NY b4 retreating.

    . On the bigger picture, although cable's break of Sep/Oct's low at 1.5107 to 1.5027 in the 1st week of Nov signals correction fm 2015 near 5-year low at 1.4566 (Apr) has ended earlier at 1.5930 (May) n weakness to 1.4966, then 1.4827
    would be seen, being 70.7% n 80.9% retracements respectively of aforesaid upmove fm 1.4566 to 1.5930. Having said that, last week's stronger-than-expected rise to 1.5265 suggests decline fm 1.5930 (Jun) has made a temporary low n 1.5295/00 needs to hold for prospect of another fall. Abv 1.5300 would risk stronger correction to 1.5335 but 1.5372 (38.2% r of 1.5930 to 1.5027) should remain intact.

    . Today, cable's rally fm y'day's 1.5155 to as high as 1.5239 suggests pull back fm 1.5265 (Fri) has ended n said corrective rise fm 1.5027 may resume, abv 1.5242/47 would confirm this view, however, as hourly indicators would display 'bearish divergences' on next rise, reckon 1.5302 would cap upside n yield strg retracement of indicated upmove fm 1.5027 later.

  8. #8
    AceTraderFX is offline Senior Member
    Join Date
    Oct 2007
    Posts
    2,532

    Smile AceTraderFx Jun 13: Daily Recommendations on Major -GBP/USD

    DAILY MARKET OUTLOOK on Major
    Update Time 13 Jun 2017 07:30GMT

    DAILY GBP/USD OUTLOOK - 1.2685
    Cable's cross-inspired break of 1.2702/07 sup to 1.2639 Monday confirms correction from last Friday's 8-week low at 1.2636 has ended at 1.2780 (New York) and recent decline from May's 7-1/2 month peak at 1.3048 would head towards 1.2615, 'loss of momentum' would keep GBP above 1.2575.

    Sell on recovery for 1.2615 and only above 1.2720/25 prolongs consolidation, risks 1.2770/80 before down.

    AceTrader - Best Intra-day Forex Trading Strategies
    AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates

  9. #9
    jennifertaylor0009 is offline Junior Member
    Join Date
    Sep 2017
    Posts
    5

    Default

    Trading discipline is the key to success. Successful people attracts money, they bring success to what they do. One of my trading pal proposed dependable Forex signal providers which is helpful in making successful trading strategies. It's always helpful in making successful trading strategies.

Similar Threads

  1. AceTraderfx May 15, 2013 : DAILY TECHNICAL OUTLOOK ON GBP/USD
    By AceTraderFX in forum EUR USD, GBP USD, USD CHF ...
    Replies: 1
    Last Post: 08-05-2014, 01:01 AM
  2. AceTraderFx Oct 24 : DAILY TECHNICAL OUTLOOK ON GBP/USD
    By AceTraderFX in forum EUR USD, GBP USD, USD CHF ...
    Replies: 4
    Last Post: 03-04-2014, 11:47 PM
  3. AceTraderFx Feb 27: Daily Technical Outlook on Major USD/CHF
    By AceTraderFX in forum EUR USD, GBP USD, USD CHF ...
    Replies: 1
    Last Post: 03-04-2014, 12:24 AM
  4. Replies: 0
    Last Post: 02-21-2014, 12:13 AM
  5. AceTraderFx Feb 19: Daily Technical Outlook on Major USD/CHF
    By AceTraderFX in forum EUR USD, GBP USD, USD CHF ...
    Replies: 0
    Last Post: 02-19-2014, 12:21 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Comparing Versions of footer
 

Search Engine Friendly URLs by vBSEO 3.6.0