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GBP/USD Technical Analysis |
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GBP/USD Technical Analysis
For the latest technical analysis see GBP/USD Spread Betting Analysis.
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05 August 2011 update - GBP/USD closed lower on Thursday as it consolidates some of Wednesday's rally. The low-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it extends the rally off July's low, the reaction high crossing is the next upside target.
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04 August 2011 update - GBP/USD closed higher due to short covering on Wednesday as it consolidates some of Monday's decline. The high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it extends the rally off July's low, the reaction high crossing is the next upside target.
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03 August 2011 update - GBP/USD closed higher due to short covering on Tuesday as it consolidates some of Monday's decline. The high-range close sets the stage for a steady-to-higher opening on Wednesday. However, 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 are needed to confirm that a short-term top has been posted. If it extends the rally off July's low, the reaction high crossing is the next upside target.
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02 August 2011 update - GBP/USD closed lower on Monday as it extends this week's decline below the 10-day moving average. The low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. If it extends last week's decline, last week's low crossing is the next downside target.
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01 August 2011 update - GBP/USD closed higher on Friday due to profit taking as it consolidates some of this month's decline. Stochastics and the RSI are turning bearish signalling that a short-term top might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it renews this month's rally, the reaction high crossing is the next upside target.
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29 July 2011 update - GBP/USD closed higher due to short covering on Thursday as it consolidates some of Wednesday's decline. The high-range close sets the stage for a steady-to-higher opening on Friday. However, 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 extends this month's rally, the reaction high crossing is the next upside target.
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28 July 2011 update - GBP/USD posted a downside reversal on Wednesday as it consolidates some of this month's rally. The low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term bottom has been posted.
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26 July 2011 update - GBP/USD closed lower on Monday and the mid-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 this month's rally, the reaction 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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25 July 2011 update - GBP/USD posted an inside day with a lower close on Friday as it consolidated some of this month's rally. The high-range close sets the stage for a steady-to-higher opening on Monday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends this month's rally, the reaction 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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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 Technical Analysis - edited by PipTrade, 05 August 2011.
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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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