Forex GBP/USD Intraday Analysis – June 30, 2011: Test Level 1.6178

Yesterday: Open 1.5995 High 1.6077 Low 1.5972 Close 1.6064

The focus of economic data today to Sterling are:
1. GBP Nationwide HPI m/m at 1: 00 PM
2. GBP BOE Credit Conditions Survey at 3: 30 pm  

Since the European session trade started yesterday, Sterling began to look bullish with a peak at the highest level in daily 1.6077. 

Forex GBP/USD Intraday Analysis – 28 Jun 2011: a chance to test it to as low as 1.6139

Yesterday: Open High Low 1.6020 1.6047 1.5953 Close 1.5964

For the entire day yesterday, the movement of Sterling tend to range sideways 100 pips.  

The focus of economic data today to Sterling are:
1. Current Account at GBP 15: 30 WIB
2. the Final GDP q/GBP q at 3: 30 pm  
3. GBP Revised Business Investment q/q at 3: 30 pm
4. GBP Inflation Report Hearings at 17: 00 WIB 

Forex GBP/USD Intraday Analysis - June 20, 2011: Testing Level 1.6038

Yesterday: Open 1.6169 High 1.6197 Low 1.6095 Close 1.6185

Since touching its lowest level yesterday di1.6095 daily, Sterling bullish movement until almost touching the diagonal trend line.

Currently Sterling msih bullish movement.

No focus of today's economic data for Sterling are:
1. EUR ECOFIN Meetings "All Day"
2. GBP MPC Member Posen Speaks at 16:00 pm 

Forex GBP/USD Intraday Analysis - June 13, 2011: Testing the 1.6170 level, Beware Rebound

Yesterday: Open 1.6371 High 1.6385 Low 1.6221 Close 1.6227

Since the movement of Sterling can penetrate the diagonal trend lines that play a role as well as the level of the break line for a double top pattern, then the Sterling yesterday to freefall past the first support level at 1.6326 and even experienced a continuation of about 50 pips from the second support level at 1.6281.

Currently, Sterling is still trying to look bullish.

There is no focus on economic data today for Sterling. 

Forex GBP/USD Intraday Analysis - June 10, 2011: Testing Level 1.6326

Yesterday: Open 1.6397 High 1.6468 Low 1.6360 Close 1.6370

Since trading began yesterday's Asian session, Sterling looks bullish daily until you reach the highest level in almost touched the 1.6468 resistance level at 1.6472. Some time later, finally Sterling fell to penetrate the diagonal trend lines continue the movement in the area of ​​the range of 1.6380 level.

Currently, Sterling still looks bearish movement tends to move sideways.

The focus of economic data today for Sterling are:
1. GBP Manufacturing Production m / m in at 15:30 pm
2. GBP PPI Input m / m in at 15:30 pm
3. GBP Consumer Inflation Expectations in at 15:30 pm
4. GBP Industrial Production m / m in at 15:30 pm
5. GBP PPI Output m / m in at 15:30 pm 

Forex GBP/USD Intraday Analysis - June 9, 2011: Testing Level 1.6348

Yesterday: Open 1.6440 High 1.6449 Low 1.6349 Close 1.6396

Yesterday before the European trading session begins, the movement of Sterling for the first time through the first support level at 1.6380 and further down to the American middle session, Sterling currency moves in the range of support levels with a peak daily terbawahnya at the lowest level at 1.6349.

At present, seen in conditions Sideways Sterling tend bearish. When the main line through the trend line Dapa stochastic diagonal then the probability of decline in sterling is strong enough.

The focus of economic data today for Sterling are:
1. GBP Trade Balance on at 15:30 pm
2. GBP MPC Rate Statement "tentative" 

Forex GBP / USD Intraday Analysis - June 6, 2011: Will Double Top Pattern Formed Until This Afternoon?

Yesterday: Open 1.6369 High 1.6441 Low 1.6287 Close 1.6427

Sterling yesterday Sideways movement likely in the range of 150 pips. Towards the beginning of the session yesterday America, Sterling rebounded to reach the highest level at 1.6441 daily.

Today Sterling is still bullish movement but it should be wary of a sharp correction.

The focus of economic data today to Sterling is GBP Services PMI. 

GBPUSD break of 1.6419 resistance further going up side toward 1.6482 and break of 1.6301 support next target will be 1.6241 on intraday. If GBPUSD won’t break of 1.6419 strong resistance dowb trend in progress on 1 hour chart. In GBPUSD strong support is at 1.6243.If GBPUSD will reverse from 1.6243 support then extension will be 1.6676-1.6844. Otherwise continues going down side remain same. On 1 hour chart GBPUSD is formes Head and Shoulder pattern , back tested neckline and going down  side toward 1.6243 extesion which is strong support. On daily chart, GBPUSD still on up trend zone, long term GBPUSD break of 1.6216 trend will be change.

New High:1.6381, 1.6456, 1.6489.

New Low:1.6300, 1.6274, 1.6209.

Now GBPUSD is on up trend line, break of 1.6276 support next target will be 1.6181 and break of 1.6360 resistance further going up side toward 1.6482 on intraday. In GBPUSD strong support is at 1.6243.If GBPUSD will reverse from 1.6243 support then extension will be 1.6676-1.6844. Otherwise continues going down side remain same. GBPUSD is also form Head and Shoulder pattern on 1 hour chart, 1.6423 is the strong resistance. On daily chart, GBPUSD still on up trend zone, long term GBPUSD break of 1.6216 trend will be change.

New High:1.6360, 1.6419, 1.6547.

New Low:1.6270, 1.6181, 1.6134.

GBPUSD is on 61.8%(1.6480) of 1.6744 to 1.6057, break of 1.6480 strong resistance further going up side toward 1.6569 on intraday and break of 1.6400 support next target will be 1.6317 on intraday. GBPUSD still in up trend line on 4 hour chart, trend line pass at 1.6354 act as minor support, if break of this trend line, possible trend change to down. On daily chart, GBPUSD still on up trend zone, long term GBPUSD break of 1.6216 trend will be change.

New High:1.6515, 1.6599, 1.6644.

New Low:1.6429, 1.6365, 1.6278.

Yesterday: Open 1.6476 High 1.6549 Low 1.6426 Close 1.6452

Yesterday movement of Sterling, tend to move sideways in the range of 120 pips. Diagonal trend lines could penetrate up to touch the daily lowest level at 1.6452.

Sterling is currently visible movement tries to rebound.

The focus of economic data today for Sterling are:

1. GBP Manufacturing PMI on 
2. Change the value of total new loans issued to consumers per month (GBP Net Lending to Individuals m / m)
3. GBP M4 Money Supply m /  m 
4. GBP Mortgage Approvals

Forex GBP / USD Intraday Analysis - May 31, 2011: Testing Level 1.6627

Yesterday: Open 1.6487 High 1.6497 Low 1.6451 Close 1.6478

All day yesterday, the movement of Sterling in flat conditions given in the American market is on vacation.

Currently, Sterling looks bullish movement.

There is no focus on economic data today for Sterling. 

Yesterday: Open 1.6385 High 1.6513 Low 1.6381 Close 1.6507 : Trends Diagonal Line , Beware Correction

Visible movement throughout the day Friday Sterling yesterday, combing his diagonal trend line until had touched its highest level at 1.6513 and the daily lows at 1.6381 daily.

Currently, Sterling looks still bullish.

There is no focus on economic data due today for Sterling Bank in the UK on vacation. 

Yesterday: Open 1.6273 High 1.6408 Low 1.6273 Close 1.6387 : Testing the 1.6571 Level, Alert Corrections

Sterling yesterday movement since the beginning of the session enters Europe rebounded from the lowest level seen daily until the beginning of the session at 1.6273 U.S. are able to achieve the highest level at 1.6408 daily. Even able to pass through the resistance level at 1.6383 and back again to test this level with daily closing at 1.6387.

Overall daily high low range of Sterling in the range of 130 pips.

The focus of economic data today to Sterling is GBP Nationwide HPI m/m. 

Yesterday: Open 1.6184 High 1.6296 Low 1.6134 Close 1.6274 : Testing the 1.6383 Level, Alert Corrections

Yesterday before the European trading session begins, the movement of Sterling rebounded from the lowest level at 1.6134 daily until you reach the highest level at 1.6296 on daily early American session. Even already exceed the resistance level at 1.6213 and 1.6256.

Currently, Sterling still looks bullish but should really pay attention to the stochastic indicator is already in overbought conditions.

There is no focus on economic data today for Sterling. 

Forex GBP/USD Intraday Analysis - May 25, 2011: Testing the 1.6213 Level, Alert Corrections

Yesterday: Open 1.6121 High 1.6211 Low 1.6060 Close 1.6183

Sterling yesterday was bearish until the daily lowest level in the Asian session trading at 1.6060 in progress. Next rebound past the first resistance level is at 1.6198. He had ever happened 4 times in testing 1.6198 resistance level.

Currently, Sterling currency looks bearish.

The focus of economic data today for Sterling are:
1. GBP Revised GDP q/q 
2. GBP BBA Mortgage Approvals
3. Prelim GBP Business Investment q/q
4. GBP Index of Services 3m/3m

Yesterday: Open 1.6227 High 1.6235 Low 1.6120 Close 1089

Throughout the day yesterday Sterling strong bearish movement through the support level at 1.6153 and 1.6106. Overall Sterling daily high low range of about 150 pips.
Currently Sterling visible movement tries to rebound.

The focus of economic data today for Sterling are:
1. GBP Public Sector Net borrowing on at 15:30 pm
2. GBP CBI Realized Sales at 17:00 GMT
3. GBP MPC Member Fisher Speaks at 18:00 pm

Testing the Diagonal Line Trends, Potential Double Top Pattern Forming When Conditions Fulfilled

Yesterday: Open 1.6228 High 1.6307 Low 1.6168 Close 1.6245

Towards the end of the Asian session yesterday, the movement had passed Sterling resistance level at 1.6256 first then going sideways movement in the area.

Entering the European session, Sterling plummeted to penetrate the diagonal trend lines and moments later a rebound until the back past the first resistance level and try to test the second resistance level at 1.6312 but failed to place a correction to the daily closing level of 1.6245.

Currently, Sterling has seen a bearish movement.

There is no focus on economic data today for Sterling.

Yesterday: Open 1.6171 High 1.6245 Low 1.6132 Close 1.6230

Entering the early American trading session yesterday, Steling currency movements had a bullish about 100 pips up to the highest level daily at 1.6245.

Currently, Sterling has seen the movement towards a bearish trend line its diagonal.

There is no focus on economic data today for Sterling.

Yesterday: Open 1.6248 High 1.6291 Low 1.6106 Close 1.6170

Yesterday double top pattern is formed after the break line penetrated, Sterling movements reached up to the first support level at 1.6163 and almost touching the second support level at 1.6100. Sterling onwards rebound back towards the first support level at 1.6163 and the daily closing level of 1.6170.

At present, looks to continue Sterling rebounds.

The focus of economic data today for Sterling are:
1. GBP MPC Member Tucker Speaks on at 15:00 pm
2. GBP Retail Sales m / m in at 15:30 pm
3. GBP CBI Industrial Order Expectations at 17:00 GMT
4. GBP MPC Member Bean Speaks at 18:20 pm

Yesterday: Open 1.6201 High 1.6305 Low 1.6176 Close 1.6250

Since trading began yesterday's Asian session, Sterling currency movements tend to be sideways. But ahead of the European session begins, there is turmoil bullish daily until you reach the highest level at 1.6305 then move Sterling sharp correction to 115 pips to test the trend line diagonal.

Currently, Sterling looks likely to move sideways.

The focus of economic data today for Sterling are:
1. GBP Claimant Count Change on at 15:30 pm
2. GBP MPC Meeting Minutes on at 15:30 pm
3. GBP Average Earnings Index 3m / y at at 15:30 pm
4. GBP Unemployment Rate at 15:30 pm

Yesterday: Open 1.6174 High 1.6256 Low 1.6162 Close 1.6202

Yesterday Sterling currency movements had a daily range of around 90 pips below the normal limit. Got corrections during the trading session of the United States. Next visible rebound toward the daily closing level of 1.6202.

Currently visible, Sterling can bearish again if the trend lines can penetrate its diagonal.

The focus of economic data today for Sterling are:
1. GBP CPI y / y in at 15:30 pm
2. GBP RPI y / y in at 15:30 pm
3. GBP Core CPI y / y in at 15:30 pm
4. GBP DCLG HPI y / y in at 15:30 pm
5. GBP BOE Inflation Letter "tentative"
6. GBP MPC Member Posen Speaks at 17:00 GMT

GBPUSD is forming sideway movement on 1 hour chart, break of 1.6154 further going down side toward 1.6052 and break of 1.6215 resistance further going up side toward 1.6314 on intraday. GBPUSD won’t break of 1.6139 then going up side toward 1.6282, 1.6374 possible. In GBPUSD minor resistance is at 1.6257 and support at 1.6139. On the other hand, GBPUSD will also retrace 1.6373, 1.6514 on 4 hour chart and break of 1.6514 resistance further going up side toward 1.6614.

Pivot Point: R3-1.6377, R2-1.6316, R1-1.6277, PP-1.6215, S1-1.6154, S2-1.6115, S3-1.6054.

On Friday market, Seller are dominant than previous two days and forecast is too dominant in next two or three days. As Market closed at 1.6181, the forecast is that market will continue down by almost 160 pips in next 2 or 3 working days as the next target of seller is 1.6023. Cable breaks its First support and move toward 2nd support which is easily achievable in next week. The RSI is at 37.442 and move further downward at least 33.773 which is its very strong support. Monthly retrenchment breaks its extreme support by 61% after the market break its yearly high at 1.6745 but since January 1st 2011, the next retrenchment level is 50% i.e. 1.6051(130)pips.

GBP/USD Technical Analysis - May/06

By Prful Patat   05:00 GMT

GBPUSD retraced 61.8% (1.6387) of 1.6164 to 1.6744, 78.6% (1.6289), break of 1.6356, next support is 1.6289. GBPUSD can also form Head and Shoulder pattern on 1 hour chart, confirm retrace toward 1.6454 and reverse from 1.6454 toward 1.6289 and break of 1.6454 resistance further going up side toward 1.6520 on intraday. In bigger range, If GBPUSD will reverse from 1.6386-1.6289 area, extension 1.6899-1.7100 area.

New High:  1.6467, 1.6560, 1.6484.

New Low:  1.6282, 1.6375, 1.6299.

Pivot Point: R3-1.6615, R2-1.6544, R1-1.6501, PP-1.6430, S1-1.6359, S2-1.6316, S3-1.6245.

GBP/USD Technical Analysis - May/05

By Prful Patat   05:00 GMT

GBPUSD is forming garltey pattern on 1 hour chart, from 1.6745 to 1.6451, 61.8% (1.6633) and from 1.6451 to 1.6572, 61.8% (1.6498) extension 1.6606-1.6648 which is near to 61.8% of 1.6745 to 1.6451. If GBPUSD will reverse from 1.6633 then possible retrace toward 61.8% (1.6386) of 1.6164 to 1.6745 like “M” shape pattern. In GBPUSP strong support is at 1.6455. GBPUSD break of 1.6683 resistances, next target will be 1.6830-1.6940 area. If GBPUSD will reverse from 1.6523, 1.6383 area, extension is at 1.6895, 1.7091 in bigger range.

New High:  1.6531, 1.6591, 1.6549.

New Low:  1.6410, 1.6470, 1.6428.

Pivot Point: R3-1.6625, R2-1.6579, R1-1.6550, PP-1.6504, S1-1.6458, S2-1.6429, S3-1.6383.

GBP/USD Technical Analysis - May/04

By Praful Patat  05:00 GMT

GBPUSD is consolidation on 1 hour chart, also trend line pass at 1.6483 (Wedge Formation pattern). Now GBPUSD is on 50.0% (1.6454) of 1.6164 to 1.6745, 61.8% (1.6387). GBPUSD retraced 38.2% (1.6625) of 1.6429 to 1.6745, extension 1.6830, 1.6940, still in progress.  In GBPUSP minor support is at 1.6429. GBPUSD break of 1.6683 resistances, next target will be 1.6830-1.6940 area. If GBPUSD will reverse from 1.6523, 1.6383 area, extension is at 1.6895, 1.7091 in bigger range.

New High:  1.6573, 1.6672, 1.6585.

New Low:  1.6376, 1.6475, 1.6388.

Pivot Point: R3-1.6733, R2-1.6658, R1-1.6611, PP-1.6536, S1-1.6460, S2-1.6414, S3-1.6338.

GBP/USD Technical Analysis - May/03

By Praful Patat  05:00 GMT

GBPUSD reached 127.2% extension (1.6589), now possible reverse from here or further going down side toward next extension. If GBPUSD won’t break of 1.6583 then going up side toward 1.6830 in bigger range. GBPUSD reversed from 78.6% (1.6718) of 1.6744 to 1.6625, extension 127.2% (1.6589), 161.8% (1.6547), like “M” shape pattern. GBPUSD retraced 38.2% (1.6625) of 1.6429 to 1.6745, extension 1.6830, 1.6940, possible going up side from here if break of 1.6717 resistance. In GBPUSP strong resistance is at 1.6678. If GBPUSD will reverse from 1.6523, 1.6383 area, extension is at 1.6895, 1.7091 in bigger range.

New High:  1.6696, 1.6747, 1.6705.

New Low:  1.6593, 1.6644, 1.6602.

Pivot Point: R3-1.6777, R2-1.6738, R1-1.6714, PP-1.6675, S1-1.6636, S2-1.6611, S3-1.6572.

GBP/USD Technical Analysis - May/02

By Praful Patat   05:00 GMT

GBPUSD reversed from 78.6% (1.6718) of 1.6744 to 1.6625, extension 127.2% (1.6589), 161.8% (1.6547),like “M” shape pattern, confirm at 1.6547.GBPUSD retraced 38.2% (1.6625) of 1.6429 to 1.6745, extension 1.6830, 1.6940, possible going up side from here if break of 1.6717 resistance, otherwise “M” shape pattern form. GBPUSD break of 1.6649 supports further going down side toward 1.6525 on intraday. In GBPUSP minor support is at 1.6624. If GBPUSD will reverse from 1.6523, 1.6383 area, extension is at 1.6895, 1.7091.

New High:  1.6714, 1.6763, 1.6755.

New Low: 1.6616, 1.6665, 1.6657.

Pivot Point: R3-1.6781, R2-1.6744, R1-1.6721, PP-1.6683, S1-1.6645, S2-1.6622, S3-1.6584.

GBP/USD Technical Analysis - 29/April

By Praful Patat   05:00 GMT

GBPUSD retraced 38.2% (1.6625) of 1.6429 to 1.6745, extension 1.6830, 1.6940, possible going up side from here if break of 1.6717 resistance, otherwise continues retrace toward 1.6526, 1.6390. GBPUSD break of 1.6623 supports further going down side toward 1.6549 on intraday. GBPUSD break of 1.6774 resistance further going up side toward 1.6871 next targets, otherwise retrace.  In GBPUSP minor support is at 1.6624. If GBPUSD will reverse from 1.6523, 1.6383 area, extension is at 1.6895, 1.7091.

New High:  1.6688, 1.6750, 1.6693.

New Low:  1.6563, 1.6625, 1.6568.

Pivot Point: R3-1.6790, R2-1.6742, R1-1.6713, PP-1.6665, S1-1.6617, S2-1.6587, S3-1.6540.

GBP/USD Technical Analysis - 28/April

By Prfaul Patat  05:00 GMT

GBPUSD reversed from1.6181 (50%) of 1.5934 to 1.6426, extension at 1.6730 which is hit. Now GBPUSD will retrace toward 1.6526, 1.6390. GBPUSD break of 1.6774 resistance further going up side toward 1.6871 next targets, otherwise retrace.  In GBPUSP minor support is at 1.6624. If GBPUSD will reverse from 1.6523, 1.6383 area, extension is at 1.6895, 1.7091. In GBPUSD strong support is at 1.6599.

New High:  1.6631, 1.6732, 1.6727.

New Low:  1.6429, 1.6530, 1.6525.

Pivot Point: R3-1.6767, R2-1.6690, R1-1.6642, PP-1.6565, S1-1.6488, S2-1.6440, S3-1.6363.

GBP/USD Technical Analysis - 26/April

By Praful Patat  05:00 GMT

GBPUSD reversed from extension 127.2% (1.6560) and retracing toward 1.6434, 1.6330 area. GBPUSD break of 1.6546 resistance further going up side toward extension 1.6734, otherwise continues retracing.  GBPUSD reversed from 127.2% (1.6560) of 1.6427 to 1.5934, 161.8% (1.6734).  In GBPUSP strong support is at 1.6433. In bigger range, GBPUSD reversed from 50.0% (1.6171) of 1.5935 to 1.6425 ,extension 127.2% (1.6550), 161.8%(1.6731) as per wedge formation pattern on 4 hour chart still in progress.

New High:  1.6524, 1.6566, 1.6539.

New Low:  1.6440, 1.6482, 1.6455.

Pivot Point: R3-1.6589, R2-1.6557, R1-1.6537, PP-1.6505, S1-1.6472, S2-1.6452, S3-1.6420.

GBP/USD Technical Analysis - 25/April

By Prafuk Patat   05:00 GMT

GBPUSD broker wedge formation pattern on 4 hour chart and backed test trend line at 1.6496, if stay below 1.6496 then going down side toward 1.6433, 1.6381 area on intraday, otherwise continues up side. GBPUSD reversed from 127.2% (1.6560) of 1.6427 to 1.5934, 161.8% (1.6734).  In GBPUSP minor support is at 1.6433. In bigger range, GBPUSD reversed from 50.0% (1.6171) of 1.5935 to 1.6425 ,extension 127.2% (1.6550), 161.8%(1.6731) as per wedge formation pattern on 4 hour chart still in progress.

New High:  1.6535, 1.6574, 1.6540.

New Low:  1.6457, 1.6496, 1.6462.

Pivot Point: R3-1.6598, R2-1.6568, R1-1.6550, PP-1.6520, S1-1.6490, S2-1.6472, S3-1.6442.

GBP/USD Technical Analysis - 21/April

By Praful Patat   05:00 GMT

GBPUSD break 1.6425 resistance and going toward 1.6484 wedge formation upper trend line, and break of 1.6484 next target will be 1.6560 on intraday.  In GBPUSP minor resistance is at 1.6525 ,also near to upper trend line. GBPUSD break of 1.6335 support next target will be 1.6262 on intraday. In bigger range, GBPUSD reversed from 50.0% (1.6171) of 1.5935 to 1.6425 ,extension 127.2% (1.6550), 161.8%(1.6731) as per wedge formation pattern on 4 hour chart.

New High: 1.6416, 1.6475, 1.6466.

New Low: 1.6298, 1.6357, 1.6348.

Pivot Point: R3-1.6497, R2-1.6452, R1-1.6424, PP-1.6379, S1-1.6334, S2-1.6306, S3-1.6261.

GBP/USD Technical Analysis - 20/April

By Praful Patat   05:00 GMT

GBPUSD is at 78.6% (1.6333) of 1.6385 to 1.6165, if GBPUSD will reverse from 1.6333 area then, extension at 1.6104, 1.6028 which is near to 78.6% at 1.6040 of 1.5935 to 1.6427, otherwise continues going up side toward 1.6385 resistance. GBPUSD break of 1.6275 support next target will be 1.6187 and break of 1.6425 resistance further going up side toward 1.6525 on intraday.

New High:  1.6325, 1.6379, 1.6367.

New Low:  1.6217, 1.6271, 1.6259.

Pivot Point: R3-1.6401, R2-1.6359, R1-1.6334, PP-1.6293, S1-1.6251, S2-1.6226, S3-1.6185.

GBP/USD Technical Analysis - 19/April

By Praful Patat   05:00 GMT

USDJPY is near to 82.06 and if reverse from 82.06 then again will go up side 84.16. USDJPY is retracing toward 82.06 (38.2%), 79.91 (61.8%) of 76.43 to 85.52, possible reversal from 82.06, also trend line pass there. If USDJPY will reverse from 82.06 then extension will be at 87.99, 91.12 in bigger range. In USDJPY also triangle trend line pass at 82.06. USDJPY break of 82.06 support then next target will be 79.91.

New High:  82.94, 83.48, 83.17.

New Low:   81.86, 82.40, 82.09.

Pivot Point: R3-83.76, R2-83.35, R1-83.10, PP-82.69, S1-82.27, S2-82.02, S3-81.61.

GBP/USD Technical Analysis - 18/April

By Praful Patat     05:00 GMT

GBPUSD backed from 78.6% (1.6385) of 1.6427 to 1.6226, extension at 1.6171, 1.6101 and forming “M” shape pattern on 4 hour chart; this is only possible if not break of 1.6385 resistance. GBPUSD break of 1.6225 support next target will be 1.6171 and break of 1.6385 resistance further going up side toward 1.6525, minor support at 1.6260. GBPUSD is forming wedge formation on 4 hour chart, still in progress and possible breakout on up side. In GBPUSD strong support is at 1.6171 and if not break of this support then in bigger range 1.6512, 1.6628 area possible.

New High:  1.6350, 1.6391, 1.6367.

New Low:  1.6268, 1.6309, 1.6285.

Pivot Point: R3-1.6411, R2-1.6380, R1-1.6361, PP-1.6329, S1-1.6298, S2-1.6279, S3-1.6248.

GBP/USD Technical Analysis - 15/April

By Praful Patat    05:00 GMT

GBPUSD break of 1.6385 resistance, next will be 1.6525 on intraday. GBPUSD is consolidation broke on up side on 1 hour chart, break of 1.6225 support next target will be 1.6171 and break of 1.6385 resistance further going up side toward 1.6525. GBPUSD is forming wedge formation on 4 hour chart, still in progress and possible breakout on up side. In GBPUSD strong support is at 1.6171 and if not break of this support then in bigger range 1.6512, 1.6628 area possible. If GBPUSD will go 1.6385 (78.6%) and reverse from there then, GBPUSD will form “M” shape pattern on 4 hour chart, otherwise continues up side.

New High:  1.6368, 1.6433, 1.6416.

New Low:  1.6238, 1.6303, 1.6286.

Pivot Point: R3-1.6460, R2-1.6410, R1-1.6379, PP-1.6329, S1-1.6279, S2-1.6249, S3-1.6199.

GBP/USD Technical Analysis - 14/April

By Praful Patat   05:00 GMT

GBPUSD is consolidation on 1 hour chart, break of 1.6225 support next target will be 1.6171 and break of 1.6315 resistance further going up side toward 1.6357. GBPUSD is forming wedge formation on 4 hour chart, still in progress. In GBPUSD strong support is at 1.6171 and if not break of this support then in bigger range 1.6512, 1.6628 area possible. If GBPUSD will go 1.6357 and reverse from there then, GBPUSD will form “M” shape pattern on 4 hour chart.

New High:  1.6288, 1.6324, 1.6303.

New Low:  1.6216, 1.6252, 1.6131.

Pivot Point: R3-1.6342, R2-1.6315, R1-1.6298, PP-1.6270, S1-1.6243, S2-1.6226, S3-1.6198.

GBP/USD Technical Analysis - 13/April

By Praful Patat   05:00 GMT

GBPUSD is doing sideway movement on 1 hour chart, break of 1.6225 support next target will be 1.6171 and break of 1.6282 resistance further going up side toward 1.6357. GBPUSD is forming wage formation on 4 hour chart, still in progress. In GBPUSD strong support is at 1.6171 and if not break of this support then in bigger range 1.6512, 1.6628 area possible . In GBPUSD minor support is at 1.6225 which 61.8% of 1.6101 to 1.6425.

New High:  1.6303, 1.6365, 1.6318.

New Low:  1.6179, 1.6241, 1.6194.

Pivot Point: R3-1.6400, R2-1.6353, R1-1.6324, PP-1.6277, S1-1.6230, S2-1.6201, S3-1.6153

GBP/USD Technical - 12/April

By Praful Patat

GBPUSD formed double top on 1 hour chart and backed. GBPUSD is forming wage formation on 4 hour chart, still in progress. GBPUSD break of 1.6239 support next target will be 1.6123 on intraday and on up side break of 1.6400 resistance immediately resistance at 1.6525. GBPUSD break of 1.6425 resistance, next target 1.6525 on intraday.

Strategy: GBPUSD buy from support or sell from resistance.

New High:  1.6385, 1.6441, 1.6400.

New Low:  1.6273, 1.6329, 1.6288.

Pivot Point: R3-1.6473, R2-1.6430, R1-1.6404, PP-1.6361, S1-1.6318, S2-1.6292, S3-1.6249.

GBP/USD Technical - 08/March

By Praful Patat

GBPUSD is forming wage formation on 4 hour chart,  now if break of 1.6400 resistance further going up side toward 1.6444-1.6525 area as per wage formation pattern on 4 hour chart. GBPUSD break of 1.6310 daily PP next target will be 1.6224 on intraday and on up side break of 1.6400 resistance immediately resistance at 1.6525. GBPUSD will possibility to back from 1.6525-1.6542 area as trend line pass of wage formation complete.

Strategy: GBPUSD buy from support or sell from resistance.

New High:  1.6335, 1.6378, 1.6364.

New Low:  1.6249, 1.6292, 1.6278.

Pivot Point: R3-1.6395, R2-1.6363, R1-1.6343, PP-1.6310, S1-1.6277, S2-1.6257, S3-1.6224.

GBP/USD Technical - 07/April

By Praful Patat

GBPUSD is retraced 78.6% of 1.6400 to1.5934, now if break of 1.6365 resistance further going up side toward 1.6444-1.6525 area as per wage formation pattern on 4 hour chart. GBPUSD is forming triangle on 1 hour chart. GBPUSD break of 1.6220 support next target will be 1.6110 on intraday and in bigger range 1.5809, 1.5646 area on down side and on up side break of 1.6400 resistance immediately resistance at 1.6525.

Strategy: GBPUSD sell at 1.6315 target 1.6220, 1.6150 with stop loss 1.6415

New High:  1.6347, 1.6401, 1.6385.

New Low:  1.6240, 1.6294, 1.6278.

Pivot Point: R3-1.6423, R2-1.6382, R1-1.6357, PP-1.6316, S1-1.6275, S2-1.6250, S3-1.6209.

GBP/USD Technical Analysis - 05/April

By Praful Patat

GBPUSD is still in consolidation zone on 1 hour chart, break of 1.6166 resistance further going up side toward extension and break of 1.6094 support, next will be 1.6049 possible on intraday. GBPUSD backed from Fib No. 61.8 %( 1.6013) from 1.5935 to 1.6151, extension 1.6210, 1.6248 which 61.8% from 1.6400 to 1.5935 still in progress. GBPUSD is on trend line now at 1.6133. GBPUSD is forming Head and Shoulder pattern on 15min chart, confirm after break of 1.6106 and going down side toward 1.6078, 1.6063 and back from this level toward 1.6106 and again back from there toward down side.

Strategy: GBPUSD buy from support or sell from resistance.

New High:  1.6153, 1.6187, 1.6164.

New Low:  1.6084, 1.6118, 1.6095.

Pivot Point: R3-1.6206, R2-1.6180, R1-1.6163, PP-1.6137, S1-1.6111, S2-1.6094, S3-1.6068.

GBP/USD Technical - 04/April

By Praful Patat

GBPUSD is consolidation on 1 hour chart, break of 1.6150 resistance further going up side toward extension and break of 1.6106 support 1.6082 possible. GBPUSD backed from Fib No. 61.8 %( 1.6013) from 1.5935 to 1.6151, extension 1.6210, 1.6248 which 61.8% from 1.6400 to 1.5935 still in progress. GBPUSD is on Fib No. 38.2 %( 1.6112) from 1.6400 to 1.5935, extension 1.5811, 1.5661 still in progress. Break of 1.6071 support next target is 1.5972 and break of 1.6150 going up side toward 1.6222 resistance. GBPUSD will retrace 1.6082 possible and back from there.

Strategy: GBPUSD buy from support or sell from resistance.

New High:  1.6121, 1.6202, 1.6191.

New Low:  1.5960, 1.6041, 1.6030.

Pivot: R3-1.6232, R2-1.6170, R1-1.6132, PP-1.6071, S1-1.6010, S2-1.5972, S3-1.5911.

Forex Trading EV0 - GBP/USD Technical - 1st April

By Praful Patat

GBPUSD backed from Fib No. 61.8 %( 1.6013) from 1.5935 to 1.6151, extension 1.6210, 1.6248 which 61.8% from 1.6400 to 1.5935. GBPUSD is on Fib No. 38.2 %( 1.6112) from 1.6400 to 1.5935, extension 1.5811, 1.5661 still in progress. Break of 1.6018 support next target is 1.5985 and break of 1.6064 going up side toward1.6166 resistance. In GBPUSD strong support at 1.5990-80.

Strategy: GBPUSD buy from support or sell from resistance.

New High:  1.6089, 1.6157, 1.6095.

New Low:  1.5953, 1.6021, 1.5959.

Pivot: R3-1.6199, R2-1.6147, R1-1.6116, PP-1.6064, S1-1.6012, S2-1.5980, S3-1.5928.

Forex Trading Evo - GBP/USD Technical - 31/March

By Praful Patat

At this moment, GBPUSD is on Fib No. 38.2% from 1.6400 to 1.5935, possibility to back from here then next target is 1.5811, 1.5661 this is if not break of 1.5976 support and if back from 1.6003, 1.5976 area then again go up side toward 1.6160, 1.6222 area. Break of 1.6043 support next target is 1.6003 and break of 1.6112 going up side toward1.6166 resistance. In GBPUSD strong support at 1.5990-80.

Strategy: GBPUSD sell 1.6090 target 1.6045, 1.6003 with stop loss 1.6125

New High:  1.6078, 1.6130, 1.6125.

New Low:  1.5973, 1.6025, 1.6020.

Pivot: R3-1.6148, R2-1.6108, R1-1.6083, PP-1.6044, S1-1.6004, S2-1.5979, S3-1.5939.

At this moment, GBPUSD is doing side way movement on 1 hour chart, break of 1.5973 support next target is 1.5819 and break of 1.6022 going up side toward1.6151 resistance. In GBPUSD strong support at 1.5990-80. On 1 hour chart, GBPUSD will retrace toward 1.6094, 1.6151 area on intraday. GBPUSD is forming Head and Shoulder pattern on 1 hour chart, confirm after going up side at 1.6064, 1.6094 then come down to test neckline at 1.6021 and back at 1.6021.

Strategy: GBPUSD buy 1.6000 target 1.6094, 1.6151 with stop loss 1.5975

New High:  1.6015, 1.6065, 1.6043.

New Low:  1.5914, 1.5964, 1.5942.

Pivot: R3-1.6089, R2-1.6050, R1-1.6026, PP-1.5988, S1-1.5949, S2-1.5925, S3-1.5886.

At this moment, GBPUSD will retrace on intraday basis for further going down side. GBPUSD is continues going down side. In GBPUSD strong support at 1.5990-80 area, break of this support further going down side toward 1.5819 next target. GBPUSD, break of daily PP at 1.6062 further going up side toward 1.6151 resistance on intraday. GBPUSD not break 1.5990 then retracement will happen.

At this moment, GBPUSD will retrace on intraday basis for further going down side. GBPUSD is continues going down side. In GBPUSD strong support at 1.5990-80 area, break of this support further going down side toward 1.5819 next target. GBPUSD, break of daily PP at 1.6062 further going up side toward 1.6151 resistance on intraday. GBPUSD not break 1.5990 then retracement will happen.

Strategy: GBPUSD buy from support or sell from resistance.

New High:  1.6091, 1.6158, 1.6108.

New Low:  1.5957, 1.6024, 1.5974.

Pivot: R3-1.6197, R2-1.6145, R1-1.6114, PP-1.6062, S1-1.6011, S2-1.5980, S3-1.5928.

GBPUSD is doing side way movement on 1 hour chart, break of 1.6080 support further going down side toward 1.6050 next target and break of 1.6126 resistance further  going up side toward 1.6208 next target on intraday. On daily chart, GBPUSD support at 1.6064, break of this support further going down side toward 1.5990. GBPUSD not break 1.6090 then continues going up side toward 1.6281 resistance.

Strategy: GBPUSD buy at 1.6110 target 1.6208, 1.6281 with stop loss 1.6032.

New High:  1.6194, 1.6281, 1.6209.

New Low:  1.6019, 1.6106, 1.6034.

GBPUSD is doing side way movement on 1 hour chart, break of 1.6215 support further going down side toward 1.6190, 1.6141 next target and break of 1.6268 resistance further  going up side toward 1.6380 next target on intraday. GBPUSD backed near to 1.6417 extension and retracing toward 1.6141.On daily chart, GBPUSD is going down side toward 1.6064 support this is only possible if break of 1.6141 support.

Strategy: GBPUSD buy from support or sell from resistance

New High:  1.6309, 1.6391, 1.6317.

New Low:  1.6144, 1.6226, 1.6152.

GBPUSD is slowly going up side toward 1.6200, 1.6254, if GBPUSD will back from 1.6200, 1.6254 area then again come down to 1.6148, 1.6082 area. GBPUSD not break of 1.6115 support, going up side and break of 1.6115 level further going down side toward 1.6063 on intraday. GBPUSD backed from Fib No. 78.6% at 1.6178 from 1.6241 t 1.5975, extension 127.2% at 1.5903, 161.8% at 1.5810 still in progress.

Strategy: GBPUSD buy from support or sell from resistance

New High:  1.6151, 1.6245, 1.6227.

New Low:  1.5963, 1.6057, 1.6039.

Pivot: R3-1.6282, R2-1.6210, R1-1.6166, PP-1.6094, S1-1.6022, S2-1.5977, S3-1.5906.

GBPUSD is doing sideway movement on 1 hour chart. GBPUSD not break of 1.5976 support, break of 1.5976 level further going down side toward 1.5902 next target or break of 1.6141 next targets is 1.6255 on intraday on intraday. GBPUSD backed from Fib No. 78.6% at 1.6178 from 1.6241 t 1.5975, extension 127.2% at 1.5903, 161.8% at 1.5810 still in progress. Strategy: GBPUSD buy from support or sell from resistance

New High:  1.6077, 1.6150, 1.6096.

New Low:  1.5931, 1.6004, 1.5950.

Pivot: R3-1.6191, R2-1.6135, R1-1.6101, PP-1.6046, S1-1.5990, S2-1.5956, S3-1.5900.

GBPUSD formed double bottom on 4 hour chart. GBPUSD backed from Fib No. 78.6% at 1.6178 from 1.6241 t 1.5975, extension

GBPUSD backed from Fib No. 61.8% from 1.5749 to 1.6343 also extension 161.8% at 1.5990 from 1.6123 to 1.6343.

GBPUSD is doing sideway movement on 1 hour chart. Break of 1.6104 daily PP, going up side or break of 1.6035 next target is

GBPUSD is still on up trend line. Break of 1.6234 resistance, going up side or break of 1.6144 down side. Now if GBPUSD not break of

GBPUSD is doing sideways movement on 1 hour chart (Complex Pattern). Break of 1.6166 resistance, going up side or break of 1.6144 down side.

GBPUSD is forming sideway movement on 1 hour chart, break of 1.6179 support further going down side or break of 1.6210 resistance, going up

GBPUSD is doing sideway movement on 1 hour chart. GBPUSD bounced from 38.2% at 1.6215 and going toward extension 127.2% at 1.6408, 161.8% at 1.6512 still valid.

GBPUSD is still up trend on 4 hour chart, break of 1.6246 support level further going down side 1.6210, 1.6179 support and break of 1.6315 resistance going up side toward projection at 1.6378. GBPUSD bounced from 38.2% at 1.6215 and going toward extension 127.2% at 1.6408, 161.8% at 1.6512 still valid. In GBPUSD minor resistance at 1.6284, break of this level further move toward 1.6336 on intraday. In bigger range, GBPUSD will possible projection 127.2% at 1.6565, 161.8% at 1.6913 from1.6294 to 1.5293. GBPUSD strong resistance at 1.6335, break of this level further going up side toward projection 1.6408.  

GBPUSD is forming complex pattern on 1 hour chart, break of 1.6303 support level further going down side 1.6284, 1.6244 support and break of 1.6332 resistance going up side toward projection. GBPUSD bounced  from 38.2% at 1.6215 and going toward extension 127.2% at 1.6408, 161.8% at 1.6512.

GBPUSD is retracing from 127.2% projection, 38.2% at 1.6215, 61.8% at 1.6144, possibility to back from here for further going up side toward 1.6419 projection. In GBPUSD minor resistance at 1.6284, break of this level further move toward 1.6419 on intraday. In GBPUSD strong support at 1.6127, if break this level trend will change.

Now GBPUSD is above up trend line and near to 1.6345 projection from 1.5984 to 1.6273. In GBPUSD minor resistance at 1.6319, break of this level further move toward 1.6349 on intraday. If GBPUSD will back from 1.6319, 1.6349 area then again take retrace 1.6228, 1.6152 area. In GBPUSD strong support at 1.6127, if break this level trend will change.

Now GBPUSD is under up trend line, break of 1.6127 further going up side toward 1.6168 on intraday. Now break of 1.6127 level then continues going down side, target 1.6022 on intraday. GBPUSD is forming Head and Shoulder pattern on 15min chart, confirm if break of 1.6117 further going up side toward 1.6141 and back from there and then come at 1.6117, back from here. If break of 1.6069 support level then next target is 1.5972.

GBPUSD broke triangle on down side 1 hour chart and tested minor support at 1.6083. Break of 1.6163 going up side, otherwise continues going down side, target 1.6053 on intraday. GBPUSD is slowly going up side after big drop (like flag pattern), possibility to back from 1.6163 resistance. Break of strong support 1.6109 further going down side toward 1.6053 daily support.

GBPUSD is forming triangle on 1 hour chart. Break of 1.6253 going up side or break of 1.6204 going down side. Yesterday GBPUSD tested 1.6100 which is near to Fib No. 61.8% at 1.6091, now going further up side toward extension Fib No. 127.2% at 1.6335, 161.8% at 1.6429 which is also Fib No. 127.2% from 1.5749 to 1.6276. GBPUSD break of 1.6277 resistance further going up side toward 1.6321on intraday. GBPUSD also is forming ABCD pattern on 1 hour chart still in progress and back from Fib No. 74.6% at 1.6019 from 1.5962 to 1.6184, extension Fib No. (127.2%) at 1.6244, Fib No. (161.8%) at 1.6320.

GBPUSD tested 1.6100 which is near to Fib No. 61.8% at 1.6091, now going further up side toward extension Fib No. 127.2% at 1.6335, 161.8% at 1.6429 which is Fib No. 127.2% from 1.5749 to 1.6276. GBPUSD stay below 1.6091, further going down side to 1.6056 on intraday. GBPUSD also is forming ABCD pattern on 1 hour chart still in progress and back from Fib No. 74.6% at 1.6019 from 1.5962 to 1.6184, extension Fib No. (127.2%) at 1.6244, Fib No. (161.8%) at 1.6320.

GBPUSD touched 127.2% at 1.6244 from 1.5961 to 1.6184. Now GBPUSD possibility to test trend line at 1.6120 for going further up side. GBPUSD break of 1.6196 further going down side to 1.6157,1.6091 on intraday. GBPUSD also is forming ABCD pattern on 1 hour chart still in progress and back from Fib No. 74.6% at 1.6019 from 1.5962 to 1.6184, extension Fib No. (127.2%) at 1.6244, Fib No. (161.8%) at 1.6320.

GBPUSD break 1.6127, now sustain above trend line resistance and not break 1.6118 level futher going up side to 1.6244 on intraday possible. Now strong resistance is 1.6196 which 74.6. % from 1.6277 to 1.5960. Not break of 1.6196, will come down to test daily PP at 1.6144 on intraday. Also ABCD pattern is forming on 1 hour chart from 1.6184 to 1.5985 and back from Fib No. 61.8% at 1.6109, extension (127.2%) at 1.5932,(161.8%) at 1.5865. This is only possibility if not break of 1.6196 daily resistance. Otherwise, GBPUSD also is forming ABCD pattern on 1 hour chart and back from Fib No. 74.6% at 1.6019 from 1.5962 to 1.6184, extension Fib No. (127.2%) at 1.6244, Fib Mo. (161.8%) at 1.6320. In bigger range break of 1.6277 further going up side toward extension at 1.6420 (127.2%) from 1.5749 to 1.6277.

GBPUSD break 1.6127, but not sustain above trend line resistance and not break 1.6196 and come down. Now strong resistance is 1.6155 which 61.8% from 1.6277 to 1.5960. Not break of 1.6155, will come down to 1.6012 on intraday. Also counter ABCD pattern forming on 1 hour chart from 1.6184 to 1.5985 and back from Fib No. 61.8% at 1.6109, extension (127.2%) at 1.5932,(161.8%) at 1.5865. This is only possibility if not break of 1.6165 daily resistance.

GBPUSD break 1.6127 above trend line resistance, further going up side toward 1.6196 and break of this 1.6196 level, trend is change and going up to 1.6420 extension (127.2%) from 1.5750 to 1.6271. Not break of 1.6118, will go up to 1.6257 on intraday.

GBPUSD break 1.6127 above trend line resistance, further going up side toward 1.6196 and break of this 1.6196 level, trend is change and going up to 1.6420 extension (127.2%) from 1.5750 to 1.6271. Not break of 1.6118, will go up to 1.6257 on intraday.

GBPUSD break of 1.6033 trend line resistance, further going up side toward 1.6184 and break of this 1.6184 level, trend is change and going up to 1.6497 extension (127.2%) from 1.5750 to 1.6271. Between this range GBPUSD is forming gartley pattern on 4 hour chart. Not break of 1.6076, will come down to 1.5881 support.