alice
Senior Member
Posts:1287
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| 01 Mar 2010 05:18 AM |
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this thread suppose to opened by Allan, but he didn't shown up yet today, so i just opened this thread as allan represent.
GBPUSD has indecisive move at friday trade. price try to put some downward move low at 1.51xx area but closed at 1.52 area, nearly bias are still bearish mode, with technical target 1.500xx area within this week, immediate resistance 1.5230. bearish chanel still as major trend for now,, and upward movement could be trat as correctional move.
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allangenex
Senior Member
Posts:4202
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| 01 Mar 2010 08:46 PM |
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Thanks, Alice for the startup.
Looking at this pair now, we can see that the pound is declining at a rather consistent rate.
Current pair is under a retracement mode looking at the AC indicator. 23.6 Fibo line can be acted as a support for this pair now. A break below 1.4875 can hint a further decline to 1.4782.
Resistance at 1.5311 and Supportat 1.4782. |
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alice
Senior Member
Posts:1287
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| 02 Mar 2010 12:51 AM |
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GBPUSD significantly bearish at yesterday trade, falls at below technical target 1.5000, low at 1.47xx and closed higher at 1.49xx nearly bias should be tested previous low, price ranging above 1.500 should treat as no trading area, overall bearish conditon still strong enough to make further downward movement. break below yesterday's low should trigger further bearishness heading 1.4500.
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alice
Senior Member
Posts:1287
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| 04 Mar 2010 02:19 AM |
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GBPUSD consolidate higher breach high 1.51xx and cloase steadly at 1.509x, this fact could put further bullish correction heading to 1.52xx area, after the price fail to stay below technical level 1.5000, break 1.5230 should be traten to bearish scenario and could produce new phase of bullishness. but note that aslong as price moving around bearish chanel, bullish momentum could be just a correctional movement. another price move below 1.5000 could be a treaten to bullish momentum, and bearh would continue to tested 1.477x area.
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 04 Mar 2010 07:02 PM |
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if you want to see how bad the uk govt debt situation is check this link;
http://www.cps.org.uk/index.php?option=com_content&view=cpsarticle&id=261 |
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alice
Senior Member
Posts:1287
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| 05 Mar 2010 01:49 AM |
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GBPUSD having a whipsaw movement on yesterday, high at 1.513x low nearly techninal level at 1.500x, and closed at 1.503x, price are fail to break above bearish chanel shown bearish scenario still intact, this fact could potentially bullish correction are over moreover if we saw consist movement around 1.5000-1.4950 which targetting 1.47xx or even 1.4500 area on the longer term. immediate resitance 1.5050/80 break above area would keep bullish scenario intact. NFP reading are main economical event for today.
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 06 Mar 2010 06:05 PM |
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Just in case anyone is interested this point and cross chart shows the loooong term support and resistence areas for this pair...enjoy:-)  |
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alice
Senior Member
Posts:1287
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| 08 Mar 2010 05:14 AM |
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GBPUSD has bullish movement at yesterday trade, price are bounce after touch support trendline at daily support, this indicate furter correction expected, but major scenario are still bearish. immediate support 1.5092, break below this are price would tested 1.5000, initial resistance 1.5266 break above this area bullish konsolidation should continue targetting 1.53xx area.
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alice
Senior Member
Posts:1287
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| 09 Mar 2010 01:20 AM |
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GBPUSD failed to continue bullish momentum at yesterday trade, low around 1.5030 and closed at 1.506x. nearly bias are nuetral, while long term trade are still bearish. price are still moving above 1.5000-1.4950 show bullish correction are still intact with technical target 1.52xx area. break below 1.5000-1.4950, price would tested this month low 1.4779 and bullish momentum phase should ended.
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alice
Senior Member
Posts:1287
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| 10 Mar 2010 06:38 AM |
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GBPUSD atempt to make downward move at yesterday trade, low at 1.493x but closed higher at 1.499x, this fact indicate price are not yet have stability tomake constant move below 1.4950, bullish secenario still intact, while overal main tend still bearish.
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dongini
Veteran Member
Posts:727
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| 10 Mar 2010 09:31 AM |
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continued bearish activity on this pair, it seems recovery above the 1.5000 is not coming anytime soon, even the fundamentals re going south it might test the yearly low to look for support. |
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alice
Senior Member
Posts:1287
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| 11 Mar 2010 06:16 AM |
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GBPUSD price once again to put some down pressure yesterday, but whipsaw after reach low 1.487x and closed higher at 1.497x. at smaller time frame this fact could little bit confusing, but when comes up with daily chart, clearly market price bonce after touch support trendline. major scenarion still with bearish, but we need below trendline support at 1.4870 area for further bearish heading to 1.45xx. immediate resistance 1.5011, breal above this area further bullish corection expected targeting 1.5200/50.
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dongini
Veteran Member
Posts:727
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| 11 Mar 2010 07:14 AM |
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support for this pair might set in soon as most sell orders hit their targets, as for going down to 1. 4500 region might be difficult to achieve, unless there re more sell orders in the market next week. |
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alice
Senior Member
Posts:1287
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| 11 Mar 2010 09:13 AM |
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us news re;lease shown positive result with the unemplyement rate minutes ago, and mos major are start to down fall a bit, but we need to break bullish correction chanel to makes this trade range surely bold enough to make further bearishness. |
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 11 Mar 2010 01:26 PM |
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I am playing with a russian built pretty darn good trend indicator, and here is it working on this pair...  |
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Keybo
New Member
Posts:4
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| 11 Mar 2010 06:03 PM |
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Triple ascending triangle and small break to the upside as of 22.00.I'm betting against bears on this one. |
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farizu
Forum Moderator
Senior Member
Posts:3194
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| 11 Mar 2010 06:08 PM |
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Posted By Keybo on 11 Mar 2010 06:03 PM
Triple ascending triangle and small break to the upside as of 22.00.I'm betting against bears on this one. hey keybo, good to see you here...if you can post a chart to show what you are saying in this message it will help us to get a better idea what a triple ascending triangle looks like on a chart.
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Keybo
New Member
Posts:4
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| 11 Mar 2010 06:31 PM |
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I'll try and post a chart after supper.Not had any luck posting charts in this forum but i will try. |
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alice
Senior Member
Posts:1287
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| 12 Mar 2010 01:54 AM |
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GBPUSD bullish at yesterday trade., high at 1.506x and close di 1.505x, this fact should keep bullish scenario keep intact, while as long as price moving areound bearish chanel, major bearish scenarion still strong enoungh to put more bearish movement. immediate support 1.5022 and 1.4976. break below this area price would tergetiing and tested 1.48xx area and should aim for this month low at 1.4779
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dongini
Veteran Member
Posts:727
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| 12 Mar 2010 09:11 AM |
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it seems like if this pair has developed some support at 1.4900 and could be on a retrace or a recovery, although there is still more bearish sentiments than bullish ones for now |
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