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GBP/USD

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GBP/USD DAILY as of Thursday, 14 March, 2013
A Daily white body has formed (because prices closed higher than they opened).
For the past 10 Daily candlestick bars as of 13/03/13, there are 5 white candles versus 5 black candles.
For the past 50 Daily candlestick bars as of 13/03/13, there are 22 white candles versus 28 black candles with a net of 6 black candles.
A Daily long upper shadow has formed. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought)
The present wave patterns are:
fast amplitude (8%): bullish wave 2
Elliott Waves High Volatility has detected an Isolated Low at 1.48 one bar ago ; this is usually a bullish sign
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.57 is decreasing. The Relative Strength Index is at 27.86 in the oversold territory. The Relative Momentum Index is at 6.10 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.04, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 36.12. This value is in the neutral territory.
 

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GBP/USD DAILY as of Wednesday, 20 March, 2013
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 19/03/2013. This is usually a trade set-up opportunity. Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern
The present wave patterns are:
fast amplitude (8%): bullish wave 2
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.57 is decreasing. The Relative Strength Index is at 41.81 in the neutral territory. The Relative Momentum Index is at 24.82 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.02, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 95.41. This value is in the overbought territory.
 

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GBP/USD DAILY as of Friday, 29 March, 2013
The present wave patterns are:
fast amplitude (8%): bullish wave 2
British Pound / US Dollar is long term Bearish as the 144 days moving average of 1.56 is decreasing. The Relative Strength Index is at 50.43 in the neutral territory. The Relative Momentum Index is at 38.28 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.01, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 51.87. This value is in the neutral territory.
Stochastic trigger a sell signal last Thursday.
 
GBP/USD Daily




The pair is located near the resistance of the 1.5025-1.5590 daily range where it has been rejected at the confluence of the resistance and the 200 period moving average.
The price currently holds above its faster moving average and is pending a downside correction for the 1.5153-1.5683 ascendent wave.
Further downside is expected.
Sell at the current price with a stop loss at 1.5714 and a target at 1.5311.
This provides a risk/reward ratio of 152/260.

GBP/USD H1



The pair has advanced higher inside its uptrend channel but has been recently rejected at the 1.5620 resistance and is pending a downside correction for its 1.5453-1.5685 ascendent wave while holding above both its moving averages.
Further downside is expected.
Sell at the current price with a stop loss at 1.5656 and a target at 1.5314.
This provides a risk/reward of 73/270.
 
GBP/USD since 09.07.2013 till now was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 1.68168. During this price uptrend, the price has been stopped from more ascending by reaching to the area of important Resistance Zone made of 5 peak prices date back to 2009(also 2011). Right now in daily and h4 time frames, the price is under 5-day moving average that shows the descending trend and warns about more descending. Formation of Dark cloud Cover and Doji candlestick patterns in green area shows indecision market and vulnerability of ascending trend. RSI indicator is in saturation Buy area and with the next cycle confirms the top price of 1.68168 warns about price reformation during the next candles. Generally according to the formed signs until the top price of 1.68168 is preserved, price has the potential of descending.
 
As it was mentioned in the previous technical analysis of GBP/USD pair dated 2014.03.11, according to the formed technical signs, there was the potential for descending of price which finally happened.Sellers were successful in achieving the lowest level of 1.64661.Right now price is above 5-day moving Daily and H4 time frames that show an uptrend during the next candles.Price has formed a Top price with reaching to the specified resistance zone in the picture below and it has stopped from more ascend and has started a little descend with shows exit of some buyers from their trades.

According to the formed price movements in the chart, between the bottom price of 1.64661 and top price of 1.68209 ,there is AB=CD harmonic pattern with ideal ratios of 61.8 and 161.8 that with completion of the D point there will be a warning for descending of price.RSI indicator in H4 time frame is in saturation Buy area that confirms the current top price and warns about changing price direction.Generally until the top price of 1.68209 is preserved, price has the potential of descending. Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.
 
GBP/USD had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.70000 in Weekly time frame which is fixed by descending candle(Shooting Star Pattern).The price by reaching to the resistance Up Channel edge and also the round resistance level of 1.70000 (buyers use these levels to exit their trades) has been stopped from more ascend and by forming a Harami candlestick patterns( possibility of formation of a top price and changing price direction)and fixing of it by a descending candle has prepared the field for creating a top price and a descending trend.

Currently price is under 5-day moving average in daily and 4H time frames that warns about descending of price during the next candles.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the bottom price of 1.62491 and the top price of 1.70000 with none-ideal ratios of 61.8 to 127.2 that warns about descending of price from the D point of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is Daily time frame which generally warns the possibility of changing price direction.Generally until the price level of 1.70000 is preserved, price will have the potential for reformation and descending.

Technical Analysis of GBP/USD dated 2014.05.13

 

Looks like the pair has just bounced right off the lower support of the rising channel.
 
As it was mentioned in the previous technical analysis of GBP/USD pair dated 2014.05.13, according to the formed technical signs, there was the potential for descending of price which finally happened. Currently price in long term time frames such as monthly and weekly time frames is above 5-day moving average and warns about more ascending in long term interval of this currency pair. According to the formed price movements in the chart, there is a Crab harmonic pattern between the bottom price of 1.66980 and top price of 1.70616 that warns about descending of the price with completion of this pattern ending point. RSI indicator is in saturation buy area and it is in divergence mode with the price chart that warns the potential for formation of a top price and changing price direction during the next candles. Generally until the top price of 1.70616 is preserved, price will have the potential for reformation and descending and If the level of 1.70179 breaks, price will have the potential for descending to the round supportive level (OR R=S Level)of 1.70000.

Technical Analysis of GBP/USSD dated 2014.06.20

 
GBP/USD was in strong descending trend from the top price of 1.71905 that during this descending trend the sellers could record the bottom price of 1.60592. Right now price in long time frames such as monthly, weekly and daily is under 5-day moving average and warns about price decrease in long period of time.In Daily time frame the previous day candle was closed as a Doji candlestick pattern that shows the indecision for ascending or descending.

If this candlestick pattern confirms (closing of ascending candle at the end of the day), there will be the potential for changing price direction.Currently according to the condition of this currency pair and its strong downtrend in recent days, price is in saturation sell area and warns about a slight reformation in Daily time frame.The first important warning for starting a reformation in downtrend and rise of the price is breaking of the resistance level of 1.61572 (the highest changing price level on the previous day).

 
I only have the chart on my ipad but it looks like a case of sell the news?
 
GBP/USD during the recent week was in a strong and consistent downtrend that sellers were successful in achieving the lowest price of 1.55900.Right now price in long time frames such as monthly, weekly and daily is under 5-day moving average and warns about price increase in long period of time. As it is obvious in the picture below, price during the descending has touched the round supportive level of 1.56000 and has created the hammer candlestick pattern(in daily time frame).

According to the formed price movements in the chart, between the top price of 1.65229 and bottom price of 1.55900,there is AB=CD harmonic pattern with none- ideal ratios of 50 and 161.8 (also at CD wave there us another pattern with ratios of 38.2 and 2.24) that with completion of the D point there will be a warning for ascending of price. As it is obvious in the picture below, Stoch indicator is in saturation sell area and warns about ascending of the price during the next candles.

 
GBP/USD from 2014.07.15 had a strong descending trend with little reformation that shows the decision of sellers in reaching to the long term targets. This currency pair during its movement could record the low price of 1.56000.The price by reaching to the psychic level of 1.56000 could not pass it and retreated which the usage ability of this level can be seen in 1H time frame.

As it is obvious in the picture below, between the top price of 1.65293 and the bottom price of 1.56000, there is AB=CD harmonic pattern with the ratios of 50 and 161.8 that the D point of this pattern is completed and warns about ascending of the price.RSI indicator confirms the mentioned bottom price and it is in saturation sell area and also by being in divergence mode with the price chart warns about the price changing direction.Please note that If price rises and buyers success one of the price targets would be down trendline(made of three top prices). Generally until the supportive level of 1.56000 is preserved , the price will have the potential for reformation of descending trend and reaching to the down trendline .
 

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Technical Analysis of GBP/USD Dates 2014.12.24

GBP/USD had an descending trend without a noticeable reformation during the recent weeks that shows Sellers certainty in reaching to the predetermined targets.The price could record the Bottom price of 1.54849 in 4H time frame which is fixed by ascending candle(Hammer Patterns).As it is obvious in the picture below, price during the descending has touched the Support Level (made of 2 bottom prices) and also the round supportive level of 1.55000 and has created the hammer candlestick patterns.

According to the formed movements in the chart, there is AB=CD harmonic pattern (Also the The Three Drives Pattern) with ideal ratios of 88.6 and 1.13 between top price of 1.58250 and the bottom price of 1.54849 that warns about changing price direction from the D point of this pattern.RSI indicator is in saturation Sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days.One of the important warnings for ascending of the price is formation of the candlestick pattern in daily time frame or closing of a ascending candle which prepares the field for ascending of the price.
 

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Daily Technical Strategist on GBPUSD

GBPUSD: Weak And Vulnerable

GBPUSD: With GBP now seen following through on the back of its Friday weakness, further decline is envisaged. This development leaves it targeting further downside but with caution. On the downside, support lies at the 1.5150 level where a break if seen will aim at the 1.5100 level. A break of here will turn attention to the 1.5050 level. Further down, support lies at the 1.5000 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, resistance resides at the 1.5300 level with a break aiming at the 1.5350 level. A violation will aim at the 1.5400 level and possibly higher towards the 1.5450 level. On the whole, GBP continues to retain its broader downside bias medium term but faces corrective risk

 
Technical analysis of GBP/USD dated 11.02.2015

GBP/USD from the top price of 0.71951 till now was in a downtrend that Sellers were able to achieve the lowest price of 1.49223.One of the sellers’ targets was the round level of 1.50000(and Down Trendline) that they were successful in reaching to it and the price was not able to descend more by reaching to this level. Right now this price level is one of the important supportive levels in front of the price.
According to the recent strong descending, price is in saturation sell area and there is the potential for ascending and price reformation.

Stoch indicator is in saturation sell area and in divergence mode with the price chart in weekly time frame that confirms the price level of 1.49223 and warns changing price direction during the next candles.In the range of formed bottom price there are Spinning Top , Inverted Hammer and Harami candlestick patterns that shows the possibility for formation of a successful bottom price in continuing ascending trend.
 

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The pair formed a negative day reversal again reversing Fridays’ performance. A daily closing tonight below 1,5137 will resume the decline suggesting a 1,5100 undershooting!!
The indicators of the daily chart remain still well negative for now as well as those of the s/t charts suggesting further consolidation/ correction with however an upside bias. On the way up the Cable formed bearish divergences and this drop could be seen as a correction. The signals is however not very strong but try it anyhow.
I bought this morning the Cable here at 1,5160 with a stop at 1,5095.
 
The pair confirmed a weak closing but it failed to confirm the break of the support of the inside day at 1,5295. The closing below the 200 days line is however supporting further possible weakness!!
The levels to follow in the coming hours. While above the 200 days line we favour a recover!!
The indicators of the daily chart are at the line for now but those of the s/t charts are instead negative suggesting further weakness. Fresh and now clear bullish divergences are supporting a negative tone supporting lower levels with a s/t target now at 1,5261!!
I still waiting for a decent rebound to sell, possibly close to the 200 hours line, now found at 1,5403!!
 
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