GBPUSD has sold off recently but is still gradually trading higher on the 1-hour time frame. A rising channel can be seen connecting the latest lows and highs of price action. Price is currently testing the channel support and might be due for a bounce back to the top. The 200 SMA lines up with…

GBPUSD has been slowly trending higher, moving inside a rising wedge pattern visible on its 4-hour time frame. Price is currently testing the wedge support and might be due for a bounce back to the top. Stochastic and RSI are both moving out of the oversold region, indicating a return in buying pressure. This could…

GBPUSD is consolidating tightly in a symmetrical triangle pattern visible on a short-term time frame, just below an area of interest indicated on the 4-hour time frame. Price could go either way, depending on the outcome of the UK CPI release in the upcoming London trading session. Price appears to have found resistance at the…

GBPUSD has been trending lower on its 4-hour and 1-hour charts, moving inside a descending channel pattern. Price is currently testing the top of the range around the 1.5450 minor psychological level and might be due for a drop back to the bottom at 1.4950-1.5000. The 100 SMA is still above the 200 SMA for…

GBPUSD seems to be starting a new trend on its 1-hour forex chart, as the recent highs and lows can be connected using an ascending channel. Price just bounced off the channel resistance and may make its way to the support near the moving averages. The 100 SMA is currently above the longer-term 200 SMA,…

GBPUSD has been selling off on the short-term charts but is currently approaching the bottom of the range visible on the daily time frame. Price could bounce off the floor around the 1.5100-1.5200 levels, which have held as support since April. A bounce off the range support could mean a move back to the resistance…

take a look at my one hour chart on GBPUSD price is at or around strong support right now ?. 15 min chart you can see can  price is falling to   DM1  @1.5640. The white zone relates to the hourly chart support zone.  Pick your bias and look for signs that price is going your way . Will…

GBPUSD broke below the ascending triangle support on its 4-hour chart, signaling that price is in for more declines. The chart pattern is around 300 pips in height so the resulting selloff could last by the same amount. Stochastic is on the move down, confirming that sellers are in control of price action at the…

Weak data out of  the uk today has stopped the bullish move higher for now?. Right now the stochastic  are telling me price action is down? Sell order : look for price to make a lower high on a 15min chart to enter a short trade in line with a fib level or resistance zone, all…

We had a lovely move higher yesterday price broke resistance came back to test it has support Bang long and gone :-). You would had to wait a long time for this plan to come about. If you did wait well done . Today I see support @ 1.5600  and resistance @ 1.5680 Sell order :…

This would be the right graph for the EurGbp. The same information applies as on the previous graph. Best of PIPS.

Since price seem to want to go down on the hourly chart a trader should choose a smaller time frame to pin point the entry. Smaller time frames serve two purposes. They confirm if the bias of the trade is correct and they provide a trader with a better entry price. On this example the…

This chart is posted on the asean open for the gbpusd. Most of my comments are in fact referred to euro charts. But this chart could go south during the asean markets and that is why I like to share this comment now. Price retraced to the 55MA that was in control and that took…

We have a lot of data out at 9.30am GMT +1 for  UK today. We have good separation of the 21 & 55 ema so trend is strong. however price is at WR1 1.5650 price  could retrace a little Sell Order : look for price to break the 21ema then look for a lower high or…

GBPUSD had been trading below a descending trend line since mid-June but the pair recently broke to the upside. This signals that a reversal is in order, especially since price made a pullback to the broken trend line which now seems to be holding as support. The 100 SMA is still below the longer-term 200…

Last week price action on GBP/USD ** GBP/JPY Price try  to make a lower low. But only made a lower high. The black line is where price had to break to become a lower low. So if price only makes a lower high then who in charge,  the  bulls are and push the price higher.…

Poor Manufacturing  data out of the UK on Tuesday 7th July  push the pound lower again the US Dollar and Japanese  Yen both currencies are strong right now? The Chart Below is of the GBP/USD Price action is still bearish right now so if you are a Bear on this pair. Short Order : wait for…