GBP/USD rose to as high as 1.6149 last week and Initial bias remains on the upside this week for 1.6165 cluster resistance. Note that GBP/USD is building upside momentum again with the current rally and 1.6165 would likely be taken out. In such case, completion of decline from 1.6764 should be confirmed. And, stronger rally should be seen to 100% projection of 1.5234 to 1.5991 from 1.5602 at 1.
Apr 22, 2012 | ActionForex
The choppy recovery from 1.5804 extended to as high as 1.5983 last week but Friday's sharp decline indicates that fall from 1.6060 is ready to resume. Initial bias is on the downside this week and break of 1.5804 will target 1.5602 support next. Note that whole rebound from 1.5234 is likely completed at 1.6060 already. Break of 1.5602 should confirm and target a test on f 1.5234 low.
Apr 15, 2012 | ActionForex
GBP/USD rose to as high as 1.6036 last week and the break of 1.5991 resistance confirmed resumption of whole rebound from 1.5234. Initial bias remains on the upside this week for 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1. Decisive break there will have larger bullish implication and would pave the way to 1.6746 resistance later. On the downside, break of 1.
Mar 31, 2012 | ActionForex
A week ago I favored longs in the 1.5800/1.5750 zone against 1.5600. My reasoning was that wave (E) was already under way and gains twd 1.63/1.64 area were quite possible. Well, the 1st part of this forecast was correct as GBP declined right into the middle of expected support area (the low last week was near 1. Now, it remains to be seen if the second part of my forecast will be correct.
Mar 26, 2012 | TrendRecognition
GBP/USD edged higher to 1.5922 last week but turned sideway since then. Initial bias is neutral this week first. With 1.5747 minor support intact, we'd slightly favor further upside ahead and break of 1.5922 will target 1.5991 resistance first. Break will confirm resumption of whole rebound form 1.5234 and should target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.
Mar 25, 2012 | ActionForex
The GBP/USD rose during the week to break above the 1.58 level again. The recent action has seen this pair bounce around between the 1.60 and 1.56 levels, and this latest move looks as if it is going to test the highs of this area yet again.
Mar 19, 2012 | FXEmpire
Despite dipping to 1.5602 last week, GBP/USD staged a strong rebound from there and the development argues that pull back fro 1.5991 is finished already. Initial bias is mildly on the upside this week for a test on 1.5991. Break will confirm resumption of whole rebound form 1.5234 and should target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.
Mar 18, 2012 | ActionForex
GBP/USD dropped further to as low 1.5661 last week despite some intra-week volatility. The development suggest that rebound from 1.5234 is already completed at 1.5991. Initial bias remains on the downside for 1.5648 support this week. Break will confirm this bearish case and target a test on 1.5234. Also, note that 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.
Mar 10, 2012 | ActionForex
The GBP/USD pair is a very risk-sensitive one. The Spanish announced on Friday that the debt in that country is going to expand further than agreed upon with the rest of the members in the EU, and as a result the "risk off" trade came into play. This skewed the week for the Pound, and printed a shooting star just above the all-important and obvious 1.58 level.
Mar 05, 2012 | FXEmpire
The market moved abv 1.5950 and our hypothetical short position was stopped out. However, there was no follow through buying and the prices quickly returned below the 1.5950 level. As result, the daily chart remains quite neutral and rather unclear. The last week's price development does not allow us to confirm the wave count presented above.
By Alexander Nikolov | Mar 05, 2012 | TrendRecognition
USD/JPY's fall extended further to as high as 81.86 last week and broken mentioned 61.8% retracement of 85.51 to 75.56 at 81.70. Initial bias remains on the upside this week and current rise could now target 85.51 key resistance next. On the downside, below 81.39 minor support will turn bias neutral and bring consolidation. But retreat should be contained by 80.
Mar 04, 2012 | ActionForex
While the ranges are wider (and so should stops be), the lines are rather distinctive, especially towards the borders of the long term wide range. This pair makes for good trades, with the new austerity program implemented in the UK, the GBP is moving more on Fundamentals now.
Feb 26, 2012 | FXEmpire