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GBP/USD Forex Market Technical Analysis |
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GBP/USD Forex Market Technical Analysis
For the latest technical analysis see GBP/USD Forex Market Spread Betting Analysis.
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05 April 2012 update -
The sterling/dollar spread betting pair closed lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are turning neutral-to-bearish hinting that a short-term top might be in or is near. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted. If it renews the rally off January's low, last October's high crossing is the next upside target.
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03 April 2012 update -
The sterling/dollar spread betting pair closed higher on Monday as it extends the rally off January's low. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off January's low, last October's high crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
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02 April 2012 update -
The sterling/dollar spread betting pair closed higher on Friday renewing the rally off January's low. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off January's low, last October's high crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
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30 March 2012 update -
The sterling/dollar spread betting pair closed higher on Thursday and the high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, last October's high crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
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29 March 2012 update -
The sterling/dollar spread betting pair closed lower due to profit taking on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, last October's high crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
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28 March 2012 update -
The sterling/dollar spread betting pair closed lower on Tuesday and the low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, February's high crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
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27 March 2012 update -
The sterling/dollar spread betting pair closed higher on Monday renewing the rally off this month's low. The high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, February's high crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
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26 March 2012 update -
The sterling/dollar spread betting pair closed higher on Friday while extending last week's trading range. The high-range close sets the stage for a steady-to-higher opening on Monday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, February's high crossing is the next upside target.
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With financial spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital. Please familiarise yourself with the risks that are involved and before trading, ensure that financial spread betting matches your investment objectives. Seek independent advice where necessary.
GBP/USD Forex Market Technical Analysis - edited by PipTrade, 06 April 2012.
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With spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital so please familiarise yourself with the risks that are involved and, before trading, ensure that spread betting matches your investment objectives. Seek independent advice where necessary.
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* Based on current UK tax law. Tax law may change and can differ depending on your personal circumstances.
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