GBP/USD Hits Fresh 3-Day Low

The pound fell to a fresh 3-day low against the U.S. dollar on Wednesday, after official data showed that U.S. private sector employment fell more than expected in June. GBP/USD hit 1.4965 during European afternoon trade, the pair’s lowest since June 25; the pair subsequently consolidated at 1.4970, shedding 0.62%. Read more about GBP and [...]

GBP/USD Classical 03.04 (Daily FX via Yahoo! Finance)

GBP/USD: The most recent bout of bearish consolidation has been broken, with declines below critical psychological barriers by 1.5000 now exposing next psychological support by 1.4500 further down.

GBP/USD Continuation Eyes 1.45

The previous video post for the GBP/USD pointed out that the next target for the GBP/USD as it continues to decline aggressively is the 1.45 area. This week, the market has found support at the 1.4850 area, and a retracement to 38.2% materialized. The market fails twice to rally above… Read more….

GBP/USD Consolidates Above 1.50

Technically speaking, the Cable has our 1st and 2nd tier uptrend lines serving as technical cushions along with intraday and 3/3 lows. Additionally, the psychological .150 level could work in the Cable’s favor shout it be retested. As for the topside, the Cable faces multiple downtrend lines. Our top tier… Read more….

GBP/USD: Trading the Bank of England Interest Rate Decision (Daily FX via Yahoo! Finance)

The Bank of England is widely expected to hold the benchmark interest rate at 0.50% and is likely to maintain its GBP 175B asset purchase program as the board anticipates economic activity to improve throughout the second-half of the year, and the central bank may adopt a neutral policy stance going forward as the extraordinary [...]

GBPUSD: Still Targeting 1.6622 Level & Beyond

As EUR and AUD continue to lead the G10 currency block having resumed their medium term uptrends, GBP looks to follow while targeting its Aug 21’09 high at 1.6622. Successfully breaking and holding above the latter will clear the way for further upside towards the 1.7041 level, its Aug 05’09… Read more….

Forex: GBP/USD tests support at 1.6460 (The Forex Market)

FXstreet.com (Córdoba) – Cable failed in the last hour to confirm levels above 1.6600 and fell below 1.6500 to 1.6460 (lowest price of the American session). From there GBP/USD rebounded to 1.6510. Currently the pair is testing the lows of the session.

Forex: GBP/USD rises to 1.6165 after falling below 1.6100 (The Forex Market)

FXstreet.com (Córdoba) – The Pound is recovering at a slow pace against the Dollar. GBP/USD is now back above 1.6150 after falling below 1.6100 to 1.6093 reaching a fresh 3-week low. Despite the recent recovery, the pair is still down more than 0.75% from today’s opening price.

GBP/USD Knocks on the Door of our 3rd Tier Trend Lines

The GBP/USD is knocking on the door of our 3rd tier downtrend line once again as it reaches an inflection point with our 3rd tier downtrend line. While the Cable is in the position to make a technical breakout today, the behavior of the GBP/USD’s correlations aren’t supportive of such… Read more….

Chart Of The Day: GBP/USD

Price action on GBP/USD, a daily chart of which is shown, has continued progressing sideways within the converging triangle consolidation that has been in place since the beginning of the month. This continued consolidating price action occurs within the context of a steep uptrend (extending from the late April lows)… Read more….

GBP/USD Moving Sideways

The Cable is moving with no clear direction. GBP/USD failed to break above the intra-day high at 1.6575. Currently, the pair is at 1.6525, which is 0.15% above today’s opening price but at the same levels it had at the beginning of the American session. On the downside, the pair has support at 1.6500 (intra-day [...]

GBP/USD Sticks in its Range

The Cable predictably bottomed at June 23rd lows, continuing the pattern we notice over the past 10-15 days. The Cable is strengthening along with the EUR/USD as investors divest from the greenback in reaction to China’s repeated request for a new standard currency. However, volume is subsiding to the upside,… Read more….

GBP/USD Reverses Towards Tuesday Lows

The Cable failed to tackle June highs and proceeded to reverse course on comparable volume to the downside. We notice a similar price/volume pattern in the EUR/USD, indicating investors are very indecisive right now. Investors aren’t sure whether to fully commit to an economic recovery, so the bulls and bears… Read more….

Daily Forex Outlook: GBP/USD

The chart shows my working count for GBP/USD for the last month. I think a bearish triangle is developing which could complete the whole rise started from this year’s low 1.3503 (23.01.2009). If this is the case, one should expect at least 61.8 % retracement of this year’s rise -… Read more….

GBP/USD Looks to Retest June Highs

The Cable has propelled through our 3rd tier downtrend line on moderate volume as the greenback depreciates across the board. Investors are divesting from the dollar ahead of the Fed’s decision on monetary policy later today. Investors believe the FOMC remains in an adverse position in regards to its ability… Read more….

GBP/USD Finds Support Once More at 1.62

The Cable declined on climbing volume earlier today, yet has balanced on our 1.6210 support once again. The GBP/USD is rising back towards our 3rd tier downtrend line as investors hold onto their hope of a global economic stabilization. We notice considerable strength in the EUR/USD today, indicating investors are… Read more….

GBP/USD Falls 1.00% So Far Today to Test 1.6330

The Cable’s decline has continued after a short halt in the early American session, and the GBP/USD pair has fallen around 100 pips in the last two hours from 1.6437 to post a fresh intra-day low at 1.6330. Currently, the pair is down 1.00% from the 1.6480 opening price to the current price of 1.6340/50. [...]

Chart Of The Day: GBP/USD

Price action on GBP/USD, a daily chart of which is shown, is currently entrenched in both a well-defined uptrend as well as a mature triangle formation. The uptrend is an accelerated one that began to get steeper in May, and has since been respected by at least four price touches…. Read more….

GBP/USD Walks along our 3rd Tier Downtrend Line

The Cable is giving into our 3rd tier downtrend line after last week’s push was blocked by our trend line and the psychological 1.65 level on declining volume. Despite the GBP/USD’s willingness to head higher, the currency pair is giving into its positive correlation with gold and U.S. equities. Market… Read more….

Pound Goes Down

GBP/USD has been rejected at 1.6480 after stretching above 1.6450 ahead of the Wall street opening, and the Pound has dropped, on reversal, to levels right above 1.6400. Read more…

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