GBPUSD

Forex Trading - GBPUSD Holding the 2.000 Handle

Alex Chernomordin — Thu, 17 Jul 2008 06:09:06 -0400

The Sterling has held strong straddling the 2.000 level for the last 48 hours between support and resistance. Since the 50 day moving average crossed the 200 day moving average to the upside at support on 7/14, the Sterling has looked strong despite economic woes in the UK.

Forex Trading: GBPUSD and EURUSD break through day midpoints and stops hit

Greg Michalowski — Tue, 15 Jul 2008 11:05:34 -0400

The GBPUSD broke through the 2.0042 level (see post from earlier this morning) and the EURUSD broke through the 1.5959 level. Both represent the 50% retracement of the daily ranges. Stops are hit and the levels will be resistance now...

Forex Trading: GBPUSD approaches 50% support level

Greg Michalowski — Tue, 15 Jul 2008 10:31:48 -0400

The 50% support level is at the 2.0042 level.

The pound is under pressure as GBPJPY is getting hit hard as traders exit the "risk trades". Support for the pair comes in at the 208.50 level which is the 38.2% retracement level of the last move higher (see chart below). GBPCHF is also being sold off sharply.

Forex Trading; EURUSD and GBPUSD approaching support

Greg Michalowski — Tue, 15 Jul 2008 08:49:16 -0400

The EURUSD is approaching the midpoint of todays range at the 1.5959 level. (see chart above)

The GBPUSD has support at the 2.0074 level.

Forex Trading: GBPUSD follows the trading Plan. Breaks the 200 day MA

Greg Michalowski — Tue, 15 Jul 2008 08:21:53 -0400

As posted yesterday (CLICK HERE TO REVIEW THE POST), the GBPUSD had key, key resistance at the 1.9967 level. This level corresponded with the 200 day MA, a longer term technical indicator. When the level was broken the pair reluctantly moved higher. When the correction came back to the key level and held, the pair took off to the upside (SEE 5 minute chart below)

Forex Trading News: GBPUSD Breaks 2.0000

Mr. Danish FX — Tue, 15 Jul 2008 03:47:33 -0400

The GBPUSD continues its momentum breaking right through the 2.0000 level. The currency pair has created a very steep channel going back almost exactly 1 day to the start of the London session, 7/14.

Forex Trading; Update on the Market Technicals for USDJPY, EURUSD and GBPUSD

Greg Michalowski — Mon, 14 Jul 2008 15:22:23 -0400

USDJPY TECHNICAL UPDATE

The USDJPY broke through the 106.40 level, and but for a brief short covering rally up to 106.46, the pair has remained offered below this key level (see earlier post). The low of the day is 106.05.

Forex Trading: GBPUSD Technical Chart update

Greg Michalowski — Fri, 11 Jul 2008 14:19:07 -0400

The GBPUSD tested the 200 day MA at the 1.9869 level today and held. The pair then moved down as profit taking and realization that things are not so great in the UK either took hold.

The topside 200 day MA at 1.9869 will be the key level on the upside. The downside support can be found at the 1.9839 and the 1.9800 level . A move below 1.9800 neutralizes the pair.

Forex Trading News: GBPUSD Softens Up Ahead of Rate Decision

Mr. Danish FX — Thu, 10 Jul 2008 05:13:20 -0400

About two hours ahead of the BOE Interest Rate Decision, the GBPUSD is about 100 PIPS weaker than the session open today. The BOE is forecast to keep rates at 5.00% and wait to act as they figure out if slowing economic growth or inflation levels not seen in over a decade is the main conflict.

Forex Trading: GBPUSD drifts lower.

Greg Michalowski — Wed, 09 Jul 2008 19:12:52 -0400

The dollar is moving a touch higher in early trade. The GBPUSD has moved back below the 50% retracement level at 1.9826. The pair was able to move above the level in early trade, but fell back down as momentum could not be established.

The market will now use the level as resistance. and look for a retracement of the move higher during the London and NY sesssion. The first level of support will come at the 1.9797 level. Below that 1.9765 to 1.9770 (see chart below).