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GBP USD Analysis

This is a discussion on GBP USD Analysis within the Forex Strategies & Systems forums, part of the Forex Markets category; Originally Posted by moe I was bumped in early this morning at levels that I expect many were. The final ...

View Poll Results: Where Do You Think Cable Will Be By The End Of 2009
1.000 - 1.5000 29 19.86%
1.5000 - 2.000 98 67.12%
2.000+ 19 13.01%
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Old Jun 30, 2009, 9:16am   #129
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Finaly
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Originally Posted by moe View Post
I was bumped in early this morning at levels that I expect many were.

The final pieces for the upside BO were the base building at top of range yesterday
and the upward moves by GBP against JPY an the EUR yesterday.

However given the level of participants early profit locks were always the order of the day. Got mine in at 1.6698 - 1.6720 for once not hanging on to long.

Whilst GBP may go further this in itself would be another trade idea. The BO has occurred.

Feel like the cat who whipped the cream
as the spike was brief. I hope fellow traders took pips.

This a tidy thread, keep it up.
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Old Jun 30, 2009, 10:23am   #130
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Well done the baptist.
I wonder now cable has broken its range it will rally up to 1.7. Although the price has fallen right back as I write so maybe the market didnt really seem to keen on that. (Im so confused)
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Old Jun 30, 2009, 10:55am   #131
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Originally Posted by fleetwood View Post
Well done the baptist.
I wonder now cable has broken its range it will rally up to 1.7. Although the price has fallen right back as I write so maybe the market didnt really seem to keen on that. (Im so confused)
im confused to, thats why im staying out for now, that range has not broken yet. market is good for those taking 25-50 pip profits.
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Old Jun 30, 2009, 10:56am   #132
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Originally Posted by moe View Post
GBPUSD Analysis.

GBPUSD is testing 1.6618 resistance, a break above this level will signal further rally to 1.7000 zone. Initial support is at 1.6400, below this level will indicate that the pair is back to range trading between 1.6187 and 1.6618.
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Old Jun 30, 2009, 2:22pm   #133
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So seen as 1.64 hasnt been broken yet I guess 1.7 could still be in sight. Im gonna wait to see some proper support then I may decide to jump in.
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Old Jun 30, 2009, 3:25pm   #134
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i still belive it will be trading in the 1.50's very soon, triangle pattern on the daily chart, with divergences on many of the indicators and its sitting on support right now.
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Old Jul 1, 2009, 8:13am   #135
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moe started this thread GBPUSD Analysis.

After breaking above 1.6662 previous high resistance, GBPUSD drops sharply from 1.6743 level. Deeper decline would more likely be seen later today, and target would be at 1.6250-1.6300 area. Key resistance is at 1.6743, only rise above this level will signal further rally to 1.7000 zone.
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Old Jul 2, 2009, 4:37am   #136
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moe started this thread GBPUSD Analysis.

GBPUSD formed a short term cycle top at 1.6743 level on 4-hour chart. Further fall to 1.6250-1.6300 area would more likely be seen in a couple of days. Initial resistance is at 1.6545 followed by 1.6600.
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