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Spread Betting Analysis on the Sterling / Dollar |
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Spread Betting Analysis on the Sterling / Dollar
For the latest technical analysis see Sterling / Dollar Spread Betting Analysis.
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25 November 2011 update -
GBP/USD closed lower on Thursday and the low-range close sets the stage for a steady-to-lower opening on Friday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
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24 November 2011 update -
GBP/USD closed lower on Wednesday and the low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
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23 November 2011 update -
GBP/USD closed lower on Tuesday and the mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
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22 November 2011 update -
GBP/USD closed lower and the low-range close sets the stage for a steady-to-lower opening on Tuesday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
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21 November 2011 update -
GBP/USD closed higher due to short covering on Friday as it consolidated some of the decline off October's high. The low-range close sets the stage for a steady-to-lower opening on Monday. Stochastics and the RSI remain neutral-to-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
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18 November 2011 update -
GBP/USD closed lower on Thursday as it extended the decline off October's high. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
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17 November 2011 update -
GBP/USD closed lower on Wednesday as it extended the decline off October's high. The mid-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. If December renews the rally off October's low, the 75% retracement level of the August-October decline crossing is the next upside target
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16 November 2011 update -
GBP/USD closed lower on Tuesday and below key trading range support crossing thereby renewing the decline off October's high. The low-range close sets the stage for a steady-to-lower opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, the reaction low crossing is the next downside target. If it renews the rally off October's low, the 75% retracement level of the August-October decline crossing is the next upside target.
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15 November 2011 update -
GBP/USD closed lower on Monday as it extended the trading range of the past fifteen days. 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. Closes below the reaction low crossing would confirm a downside breakout of the aforementioned trading range while opening the door for a possible test of the reaction low crossing later this month. If it renews the rally off October's low, the 75% retracement level of the August-October decline crossing is the next upside target.
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14 November 2011 update -
GBP/USD closed higher on Friday as it extended the trading range of the past fourteen days. The high-range close sets the stage for a steady-to-higher opening on Monday. Stochastics and the RSI are bearish signalling that sideways-to-lower prices are possible near-term. Closes below Thursday's low crossing would confirm a downside breakout of the aforementioned trading range while opening the door for a possible test of the reaction low crossing later this month. If it renews the rally off October's low, the 75% retracement level of the August-October decline 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.
Spread Betting Analysis on the Sterling / Dollar - edited by PipTrade, 25 November 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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