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Technical Analysis on the GBP/USD Forex Market |
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Technical Analysis on the GBP/USD Forex Market
For the latest technical analysis see GBP/USD Forex Market Spread Betting Analysis.
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27 January 2012 update -
The GBP/USD closed higher on Thursday as it extends the rally off this month's low. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, December's high crossing is the next upside target. Closes below the 20day moving average crossing would temper the near-term friendly outlook.
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26 January 2012 update -
The GBP/USD closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would temper the near-term friendly outlook.
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25 January 2012 update -
The GBP/USD closed higher on Tuesday as it extends the rally off this month's low. The high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near term. If it extends the rally off this month's low, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would temper the near-term friendly outlook.
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24 January 2012 update -
The GBP/USD closed higher on Monday and the high-range close sets the stage for a steady-to-higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off this month's low, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing at would temper the near-term friendly outlook.
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23 January 2012 update -
The GBP/USD closed higher on Friday and above the 20day moving average crossing confirming that a short-term low has been posted. The high range close sets the stage for a steady-to-higher opening on Monday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it extends this week's rally, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would temper the near-term friendly outlook.
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20 January 2012 update -
The GBP/USD closed higher due to short covering on Thursday as it consolidated some of the decline off October's high. The high-range close sets the stage for a steady-to-higher opening on Friday. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the aforementioned decline, weekly support crossing is the next downside target.
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19 January 2012 update -
The GBP/USD closed higher due to short covering on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are turning neutral-to-bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted. If it extends the aforementioned decline, weekly support crossing is the next downside target.
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18 January 2012 update -
The GBP/USD closed higher 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-bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, weekly support crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted.
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17 January 2012 update -
The GBP/USD closed higher on Monday and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, weekly support crossings the next downside target. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted.
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16 January 2012 update -
The GBP/USD closed lower on Friday as it extended the decline off October's high. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bearish signalling that sideways-to-lower prices are possible near-term. If it extends the aforementioned decline, weekly support crossing s the next downside target. Closes above the 20day moving average crossing are needed to confirm that a short-term low 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.
Technical Analysis on the GBP/USD Forex Market - edited by PipTrade, 27 January 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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