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Gbpusdh1

GBP/USD forms ascending triangle patternGBP/USD forms ascending triangle pattern During the previous trading session the currency rate expectedly returned back to the 1.3110 mark, which represents location of the 23.6% Fibonacci retracement level. As this barrier was additionally backed up by the 55-hour SMAs, it made a rebound. However, the fact that the cable failed to climb above the 50% retracement level at 1.3180 two times in a row as well existence of a slope that lies along rising 55-hour SMA indicates on existence of a minor ascending triangle pattern. If this assumption is true, then the pair is likely to make a breakout to the top already by the end of the day due to existence of combined support barrier formed by above 55- and 100-hour SMAs, the 38.2% retracement level and the weekly PP at 1.3150.
by UnknownUnicorn890690
GBP/USD stuck at monthly S1 at 1.3073GBP/USD stuck at monthly S1 at 1.3073 Initially, the Pound tried to restore some and even used a momentum provided by release of better than expected UK Services PMI to climb to the 1.3107 mark. However, the subsequent release of positive American data neutralized this attempt and returned the pair back to the monthly S1 at 1.3073. Unless traders receive some clear signal the currency rate might continue moving in such indecisive manner for some while. Nevertheless, a pressure from the 100-day SMA on a daily chart is likely to push the pair down even further. Although an attempt to surge to the 55-hour SMA is possible, but eventually it is still expected to slip to support area near the 1.3030 mark.
by UnknownUnicorn890690
GBP/USD approaches weekly PP at 1.3160GBP/USD approaches weekly PP at 1.3160 Friday’s trading session was significant for two reasons. On the one hand, the cable managed to break through the lower trend-line of the senior ascending channel. On the other hand, it failed to slip below the 1.3090 mark, which correlates with location of the bottom boundary of an alleged larger, dominant ascending channel. Such outcome allows assuming that this pattern will be strong enough to block another attempt of the pair to fall below the 1.3100 mark, following the general strengthening of the Dollar. At the same time, rapid recovery of the Pounds seems unlikely as well due to presence of a combined resistance set up by the weekly PP, the 55-, 100- and 200-hour SMAs. However, a release of better than expected fundamental data through the week might provide a necessary impulse to elevate the rate at least back to the 1.3200 level.
by UnknownUnicorn890690
GBP/USD inches higher amid GDP reportMorning outlook - GBP/USD inches higher amid GDP report According to the Office for National Statistics, the temps of growth of British economy spiked to 0.4% in the third quarter. This news gave the cable an upside momentum, which it used to break through the upper trend-line of a dominant descending channel. As there are no significant UK or US data releases planned for today, bulls might use this lull to elevate the pair to the weekly R1 at 1.3306. In support of this assumption, there is need to take into account that some of the Pound traders are simultaneously following the ECB meeting and are trying to push the Sterling in parallel with the Euro. On the other hand, bears might use an area between the 1.3285 and 1.3290 marks to either halt or even turnaround the pair.
by UnknownUnicorn890690
GBP/USD returns to 1.3200Morning outlook - GBP/USD returns to 1.3200 Despite a sharp fall after release of worse than expected data about the UK retail sales, the cable managed to bounce off from the bottom trend-line of a large ascending channel and by Monday morning restore lost positions returning back to the 1.32 level. However, the pair is not expected to climb higher this day, as the further road to the north is obstructed by a combination of the 200-hour SMA and the upper edge of a dominant descending channel, which has already managed to neutralize the surge couple of times. But even in the case of a breakthrough in weekly perspective the Pound is likely to lose value against the Dollar because of release of information on the UK Preliminary GDP, which might appear to be below the 0.3% growth rate.
by UnknownUnicorn890690
GBP/USD loses 100 points Morning outlook - GBP/USD loses 100 points Although inflation report matched with forecasts and Governor Carney once again admitted possibility of interest rate hike, the Pound lost almost 100 points against the Dollar just in couple of hours. Such keen reaction shows that the main investors’ concern is related to success of the Brexit talks. From technical perspective, the cable passed through the 200-hour SMA and now is facing to other support barriers on its way up until the 38.2% Fibonacci retracement level at 1.3145. In this sense, the pair is expected to continue to slip to the bottom. However, there is a need to take into account that after such sharp falls traders usually tend to restore lost positions, which means that an area near 1.326 might become a target once again (as long as market sentiment remains predominantly bullish).
by UnknownUnicorn890690
GBP/USD fails to surge above 1.3320Morning outlook - GBP/USD fails to surge above 1.3320 Although the US data release, in general, appeared to be worse than expected, the upside momentum was not strong enough to push the pair above the monthly PP at 1.3322. The presence of a recently formed ascending channel whose bottom boundary is backed up by the rising 55-, 100-, 200-hour SMAs suggests that the currency rate most probably is going to break through that resistance and continue to move to the north. On the other hand, there are two large unconfirmed channels who boundaries are located near the 1.3330 mark and that might turnaround the pair. Finally, there is a need to take into account that this week will be full of the UK data releases, including inflation and retail sales, that are expected to have a notable impact on further direction of the pair.
by UnknownUnicorn890690
GBP/USD tries to cross 55-hour SMAMorning outlook - GBP/USD tries to cross 55-hour SMA Despite the release of better that expected American income data, the Greenback failed to exploit this fundamental background and eventually depreciated against the Pound. At the moment, the pair is going to start testing a combined resistance set up by the upper trend-line of a recently formed descending channel and the 55-hour SMA. As majority of traders remain bullish, the rate might briefly sneak to the top, trying to reach the 38.2% Fibonacci retracement level at 1.3145. However, an aggregate of technical indicators points out on the further downfall of the rate via sending strong sell signal. This direction seems evident also from larger perspective, as a couple of weeks ago the pair made a rebound from the upper boundary of a long-term descending channel.
by UnknownUnicorn890690
GBP/USD trades around 55-hour SMAMorning outlook - GBP/USD trades around 55-hour SMA The British Pound is continuing to trade lose value against the American Dollar in a one-month-long descending channel. Despite a bunch of important macroeconomic data releases, the pair did not make any substantial advances yesterday. One of the reasons for that was the 55-hour SMA, which traders continuously used as a support and resistance. As a result, the pair ended previous trading session in the centre of the channel. Because of the bullish sentiment, traders are likely to try to push the rate to the upper edge of the pattern. However, the above 55-hour SMA once again might turnaround the pair and force it to slip to the weekly S1, which is located at the 1.3210.
by UnknownUnicorn890690
GBP/USD fails to break above 55- and 100-hour SMAsMorning outlook - GBP/USD fails to break above 55- and 100-hour SMAs In accordance with expectations, a combination of the 55- and 100-hour SMAs as well as the former monthly R2 did not let the pair to make any notable advances on Friday. In fact, they continued to push it to the bottom, simultaneously forcing to form a minor symmetrical triangle. Due to release of a whole bunch of various fundamental data during this week, it is difficult to project how the pair is going to move. The only thing that can be said for sure is that the northern path is secured by numerous technical indicators, such as the 200-hour SMA and the 50% Fibonacci retracement level at 1.3503. In addition to that, the pair has recently made a rebound from the upper boundary of a long-term descending channel. Hence, the gradual slip to the bottom remains a more plausible scenario.
by UnknownUnicorn890690
GBP/USD advances by another 150 pointsMorning outlook - GBP/USD advances by another 150 points As it was expected, the Pound continued to appreciate against the US Dollar, following a speech delivered by the External BOE MPC Member Gertjan Vlieghe on Friday. At the moment, the currency rate is moving horizontally in a limbo between the monthly R3 at 1.3701 from the top and the monthly R2 at 1.3485 from the bottom. However, it should be noted that space between the current market price and the above two barriers amounts approximately to 100 pips in both directions. Most probably, the pair is going to continue to move horizontally until the moment when Governor Carney will start answering questions at the Central Banking Lecture hosted by the IMF at 15:00 GMT. Taking into account previous market reaction on similar two events last week, another sharp surge is likely to follow.
by UnknownUnicorn890690
1
GBP/USD to reach upper edge of dominant patternMorning outlook - GBP/USD to reach upper edge of dominant pattern Due to release of satisfying data on the UK CPI, the Pound got an upside momentum that helped it to cross the monthly R1 at 1.3208 and then continue the surge. In the early Wednesday morning the pair even managed to reach the weekly R1. Most probably, until a release of information on the UK Average Hourly Earnings the pair will continue to fluctuate around the 1.3310 level. Usually, the market reaction on this event amounts to 30-40 basis points. This means that if the released data will justify experts’ forecasts, the Sterling might finally reach the upper trend-line of a dominant ascending channel and then make a rebound. In the opposite scenario, the pair is likely to slip back to the 55-hour SMA and then continue the downfall.
by UnknownUnicorn890690
GBP/USD reaches monthly R1 at 1.3208Morning outlook - GBP/USD reaches monthly R1 at 1.3208 Due to positive numbers that were revealed during a release on the UK Manufacturing Production, the Pound caught an upside momentum that helped it to reach the monthly R1 at 1.1320. However, this barrier appeared to be strong enough to prevent the further surge. Given that the southern direction is secured by the 55-hour SMA and the updated weekly PP at 1.3110 as well as the approaching 100- and 200-hour SMAs, an extensive drop is not expected to follow. In contrast, these indicators will motivate the pair to try break to the top. Except for the above monthly R1 the next closest resistance barrier is located only at 1.3310. In addition, there is a need to take into account an existence of a larger ascending channel (tendency of the pair to surge to its upper boundary). Yet, these projections can be altered, as the Sterling is expected to be quite heavily affected by a number of data releases this week.
by UnknownUnicorn890690
GBP/USD tries to break 1.2944Morning outlook - GBP/USD tries to break 1.2944 Fortunately for the Pound, the eight-hour downfall was stopped already near the 1.2880 level. Accordingly, the rest of the day the Sterling spent in a recovery against the US Dollar. By the moment, the pair has reached a combined resistance level set up by the weekly R1 at 1.2942 and the monthly S1 at 1.2944. From a daily chart perspective, the further surge seems unlikely. On the other hand, an extensive fall is not expected as well, as the southern side is secured by the 55-, 100- and 200-hour SMAs together with the weekly R1 at 1.2858. It is quite possible that the rate will stuck at the above resistance for some time. In this sense, a decisive signal is expected to be given by release of information on the US CB Consumer Confidence at 14:00 GMT.
by UnknownUnicorn890690
GBP/USD tries to head to the northMorning outlook - GBP/USD tries to head to the north In line with expectations, an announcement of the Second Estimate GDP helped the Pound to slightly recover against the American Dollar. In result of the surge, the currency pair has reached the upper boundary of a senior descending channel, but then was forced to make a rebound. The fact that the pair has subsequently failed to slide through the weekly S1 at 1.2799 indicates that it might make a breakout to the top. However, even if it happens the further movement most likely will be neutralized either by the 100-, or the 200-hour SMA. But in the meantime, there is a need to take into account the impact that will be brought by the upcoming Janet Yellen speech.
by UnknownUnicorn890690
GBP/USD rebounds from weekly PP at 1.2910Morning outlook - GBP/USD rebounds from weekly PP at 1.2910 The latest developments in the GBP/USD currency pair forced to partially review the situation. On the one hand, the Pound expectedly rose and bounced off from the weekly PP at 1.2910. On the other hand, the subsequent fall through the 55- and 100-hour SMAs entails that the pair is rather moving in a rectangle or triple bottom formation that in the descending triangle. If the first assumption is true, the Pound has to eventually break through the 1.2846 level to the bottom and continue to move in a downtrend. This scenario seems rational since the 200-hour SMA is located way above the current market price. But if the second assumption is true, the pair should change the direction and start to move to the north.
by UnknownUnicorn890690
XAU/USD - Gold Market Overview - 4th July 2016Overview: The Gold markets rally during the course of the session on Friday, touching the $1350 level. At this point in time, Gold sentiment is bullish and market is ready to go higher, as buyers are still interested in the market. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It is having important resistance at the level of $1360 and support level at the level of $1340. On its 4 hourly charts, MACD is sustaining in its positive territory and RSI is sustaining in its buying zone indicating the upcoming bearish trend in the oil prices. On intra day basis one can go for buy on lower level strategy. www.tradingsignalreviews.com
FX_IDC:XAUUSDLong
by TheBanker
GBPUSD 725 PIP OPPORTUNITY !!! Rarely wrong on cable, as I mentioned yesterday, market in potential Head & Shoulder formation managed to hit the market with first drop so far toward 1.4325 level where market back to advance from intraday uptrend level. GBP/USD Overview: Market still has room to advance to re-test resistance zone 1.4410-40 while as long as market holding below 1.4515 this H&S formation may drive market lower toward 1.3950 zone, where below 1.4325 expect farther drop along with this formation Above 1.4515 market may enter new advance channel that may lead higher to test 1.4600-70 zone. www.tradingsignalreviews.com
Short
by TheBanker
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