ChartSecret
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Broadening Megaphone in GBP\USD
- Thread starter ChartSecret
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borsellino
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on the fundamentals of the GBP, I would imagine that the recent nice rally from 1.35 to 1.65 is due to some retracement soon, possibly on a temporary rally of the dollar on a "flight to safety" and more trouble for british banks... I am only repeating what I read in moneyweek.com anyway, since I have little brain of my own :cheesy: ...
A 'broadening megaphone' eh, lovlee jubblee, i like that one. I seen a 'stretched pussy' on cable the other night, don't if your familiar with that one?
ChartSecret
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GBP/USD July 8th2009
Daily Pivots: (S1) 1.6070; (P) 1.6182; (R1) 1.6249; More
GBP/USD's fall resumes after brief recovery and dips to as low as 1.6046 so far today. The development so far is inline with the view that GBP/USD should have made an important top at 1.6742 with bearish divergence conditions in 4 hours MACD and RSI. Intraday bias remains on the downside for 1.5801 support next. While some initial support might be seen from medium term rising trend line (now at 1.5709), we'd expect GBP/USD to break through it eventually. On the upside, above 1.6293 minor resistance will turn intraday outlook neutral again and bring consolidation. But upside should be limited well below 1.6742 high and bring fall resumption.
Daily Pivots: (S1) 1.6070; (P) 1.6182; (R1) 1.6249; More
GBP/USD's fall resumes after brief recovery and dips to as low as 1.6046 so far today. The development so far is inline with the view that GBP/USD should have made an important top at 1.6742 with bearish divergence conditions in 4 hours MACD and RSI. Intraday bias remains on the downside for 1.5801 support next. While some initial support might be seen from medium term rising trend line (now at 1.5709), we'd expect GBP/USD to break through it eventually. On the upside, above 1.6293 minor resistance will turn intraday outlook neutral again and bring consolidation. But upside should be limited well below 1.6742 high and bring fall resumption.
GBP/USD July 14th2009
Daily Pivots: (S1) 1.6092; (P) 1.6165; (R1) 1.6298; More
GBP/USD's consolidation from 1.5983 is still in progress and further rise to above 1.6378 cannot be ruled out. But after all, upside is expected to be limited by 61.8% retracement of 1.6742 to 1.5983 at 1.6452 and bring another sharp fall. Below 1.6032 will suggest that decline from 1.6742 is possibly resuming for key medium term trend line support at 1.5802.
Daily Pivots: (S1) 1.6092; (P) 1.6165; (R1) 1.6298; More
GBP/USD's consolidation from 1.5983 is still in progress and further rise to above 1.6378 cannot be ruled out. But after all, upside is expected to be limited by 61.8% retracement of 1.6742 to 1.5983 at 1.6452 and bring another sharp fall. Below 1.6032 will suggest that decline from 1.6742 is possibly resuming for key medium term trend line support at 1.5802.